Japan: Semi-Manufactured Gold Market 2025

Semi-Manufactured Gold Market Size in Japan

The Japanese semi-manufactured gold market rose sharply to $X in 2022, surging by 11% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Semi-manufactured gold consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Semi-Manufactured Gold Production in Japan

In value terms, semi-manufactured gold production rose to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 15%. Semi-manufactured gold production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Semi-Manufactured Gold Exports

Exports from Japan

In 2022, approx. X tons of gold, in semi-manufactured forms were exported from Japan; which is down by -34.8% compared with the previous year's figure. Overall, exports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 121% against the previous year. As a result, the exports attained the peak of X tons, and then shrank significantly in the following year.

In value terms, semi-manufactured gold exports declined slightly to $X in 2022. In general, exports recorded a mild reduction. The pace of growth was the most pronounced in 2020 with an increase of 27% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons), Singapore (X tons) and Hong Kong SAR (X tons) were the main destinations of semi-manufactured gold exports from Japan, with a combined 61% share of total exports. Taiwan (Chinese), the United States, Switzerland, China, Thailand and the Philippines lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of +42.5%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Singapore ($X) and Taiwan (Chinese) ($X) constituted the largest markets for semi-manufactured gold exported from Japan worldwide, with a combined 71% share of total exports. Switzerland, the United States, Hong Kong SAR, Thailand, China and the Philippines lagged somewhat behind, together comprising a further 27%.

Among the main countries of destination, Switzerland, with a CAGR of +48.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average semi-manufactured gold export price amounted to $X per kg, rising by 52% against the previous year. Overall, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, semi-manufactured gold export price decreased by -16.6% against 2020 indices. Over the period under review, the average export prices attained the maximum at $X per kg in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per kg), while the average price for exports to Hong Kong SAR ($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 China (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Gold Imports

Imports into Japan

In 2022, semi-manufactured gold imports into Japan expanded modestly to X tons, growing by 3.1% compared with 2021. Over the period under review, imports, however, faced a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of 38%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, semi-manufactured gold imports totaled $X in 2022. Overall, imports, however, faced a abrupt decrease. The pace of growth was the most pronounced in 2020 when imports increased by 60% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X kg), Taiwan (Chinese) (X kg) and Switzerland (X kg) were the main suppliers of semi-manufactured gold imports to Japan, with a combined 73% share of total imports. The United States, China, the United Arab Emirates, Germany, the Philippines and Malaysia lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +56.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, South Korea ($X), Switzerland ($X) and Taiwan (Chinese) ($X) appeared to be the largest semi-manufactured gold suppliers to Japan, with a combined 76% share of total imports. The United States, China, the United Arab Emirates, Germany, the Philippines and Malaysia lagged somewhat behind, together comprising a further 22%.

Among the main suppliers, the United Arab Emirates, with a CAGR of +160.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average semi-manufactured gold import price stood at $X per kg in 2022, growing by 3.2% against the previous year. Over the period under review, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, semi-manufactured gold import price increased by +45.9% against 2016 indices. The growth pace was the most rapid in 2020 when the average import price increased by 49% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+66.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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