EU: Gold Market 2025

Gold Market Size in the EU

In 2021, after two years of growth, there was significant decline in the EU gold market, when its value decreased by -67.2% to $X. In general, consumption recorded a abrupt setback. As a result, consumption reached the peak level of $X, and then dropped remarkably in the following year.

Gold Production in the EU

In value terms, gold production declined to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 20%. As a result, production reached the peak level of $X, and then contracted in the following year.

Gold Exports

Exports in the EU

In 2021, after two years of growth, there was significant decline in overseas shipments of gold, when their volume decreased by -15.9% to X tons. Overall, exports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2019 when exports increased by 26%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, gold exports dropped sharply to $X in 2021. Over the period under review, exports recorded a abrupt decline. The pace of growth appeared the most rapid in 2019 when exports increased by 42%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The shipments of the six major exporters of gold, namely Italy, Germany, Belgium, Spain, France and Austria, represented more than two-thirds of total export. Finland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +25.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest gold supplying countries in the European Union were Italy ($X), Germany ($X) and Spain ($X), together accounting for 56% of total exports. These countries were followed by Austria, France, Belgium and Finland, which together accounted for a further 33%.

Finland, with a CAGR of +31.6%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per kg in 2021, waning by -4% against the previous year. Overall, the export price, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2016 when the export price increased by 24% against the previous year. Over the period under review, the export prices attained the maximum at $X per kg in 2020, and then reduced modestly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Austria ($X per kg), while Belgium ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+37.2%), while the other leaders experienced more modest paces of growth.

Gold Imports

Imports in the EU

In 2021, supplies from abroad of gold decreased by -5.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Total imports indicated a mild increase from 2012 to 2021: its volume increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +56.2% against 2016 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 40%. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, gold imports surged to $X in 2021. Overall, imports, however, enjoyed noticeable growth. The most prominent rate of growth was recorded in 2020 when imports increased by 80% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Imports by Country

In 2021, Italy (X tons) and Germany (X tons) were the major importers of gold in the European Union, together finishing at near 56% of total imports. Austria (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Spain (10%) and France (7.6%). Belgium (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +11.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Austria ($X) were the countries with the highest levels of imports in 2021, with a combined 80% share of total imports. France, Spain and Belgium lagged somewhat behind, together comprising a further 11%.

Spain, with a CAGR of +24.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per kg, jumping by 27% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2020 an increase of 29% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per kg), while Spain ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+11.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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