Finland: Semi-Manufactured Gold Market 2024

Semi-Manufactured Gold Market Size in Finland

In 2022, the Finnish semi-manufactured gold market increased by 16% to $X, rising for the fourth consecutive year after two years of decline. In general, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +83.4% against 2018 indices. Semi-manufactured gold consumption peaked in 2022 and is likely to continue growth in years to come.

Semi-Manufactured Gold Production in Finland

In value terms, semi-manufactured gold production rose rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a moderate expansion. The pace of growth appeared the most rapid in 2020 with an increase of 43% against the previous year. Over the period under review, production hit record highs in 2022 and is likely to continue growth in the near future.

Semi-Manufactured Gold Exports

Exports from Finland

In 2022, shipments abroad of gold, in semi-manufactured forms decreased by -37% to X kg, falling for the second year in a row after two years of growth. In general, exports continue to indicate a dramatic shrinkage. The pace of growth was the most pronounced in 2015 when exports increased by 1,357% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, semi-manufactured gold exports shrank markedly to $X in 2022. Over the period under review, exports continue to indicate a precipitous decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 8,752%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Estonia (X kg), Switzerland (X kg) and Iceland (X kg) were the main destinations of semi-manufactured gold exports from Finland, with a combined 93% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iceland (with a CAGR of +31.1%), while the other leaders experienced mixed trend patterns.

In value terms, Switzerland ($X), Estonia ($X) and Iceland ($X) appeared to be the largest markets for semi-manufactured gold exported from Finland worldwide, with a combined 97% share of total exports.

Iceland, with a CAGR of +39.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average semi-manufactured gold export price stood at $X per kg in 2022, waning by -18.5% against the previous year. Over the period under review, the export price continues to indicate a mild setback. The pace of growth was the most pronounced in 2015 when the average export price increased by 507% against the previous year. The export price peaked at $X per kg in 2021, and then dropped notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per kg), while the average price for exports to Iceland ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Gold Imports

Imports into Finland

In 2022, purchases abroad of gold, in semi-manufactured forms increased by 100% to X kg, rising for the third year in a row after three years of decline. Over the period under review, imports, however, showed a drastic downturn. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, semi-manufactured gold imports skyrocketed to $X in 2022. Overall, imports showed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Switzerland (X kg) constituted the largest semi-manufactured gold supplier to Finland, accounting for a 64% share of total imports. Moreover, semi-manufactured gold imports from Switzerland exceeded the figures recorded by the second-largest supplier, Norway (X kg), fourfold. Singapore (X kg) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Switzerland was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-5.0% per year) and Singapore (+330.9% per year).

In value terms, Switzerland ($X) constituted the largest supplier of gold, in semi-manufactured forms to Finland, comprising 81% of total imports. The second position in the ranking was held by Norway ($X), with a 12% share of total imports. It was followed by Germany, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Switzerland totaled +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-6.1% per year) and Germany (+5.3% per year).

Import Prices by Country

The average semi-manufactured gold import price stood at $X per kg in 2022, growing by 60% against the previous year. In general, the import price saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 an increase of 67% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per kg), while the price for Singapore ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+138.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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