Report Update Feb 1, 2025

Kuwait - Gold - Market Analysis, Forecast, Size, Trends and Insights

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Kuwait: Gold Market 2025

Gold Market Size in Kuwait

The Kuwaiti gold market soared to $X in 2021, jumping by 142% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed prominent growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Gold Exports

Exports from Kuwait

In 2021, overseas shipments of gold increased by 145% to X kg, rising for the third year in a row after four years of decline. Over the period under review, exports, however, saw a perceptible descent. The exports peaked at X kg in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, gold exports surged to $X in 2021. Overall, exports, however, saw a pronounced decline. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for gold exports from Kuwait, accounting for a 96% share of total exports. It was followed by Saudi Arabia (X kg), with a 2.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled -4.4%.

In value terms, the United Arab Emirates ($X) remains the key foreign market for gold exports from Kuwait, comprising 96% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 3.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to -3.0%.

Export Prices by Country

In 2021, the average gold export price amounted to $X per kg, picking up by 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per kg), while the average price for exports to the United Arab Emirates amounted to $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+5.6%), while the prices for the other major destinations experienced mixed trend patterns.

Gold Imports

Imports into Kuwait

In 2021, overseas purchases of gold were finally on the rise to reach X tons after two years of decline. Over the period under review, imports showed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, gold imports soared to $X in 2021. In general, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Bahrain (X tons) constituted the largest gold supplier to Kuwait, accounting for a 87% share of total imports. Moreover, gold imports from Bahrain exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), eightfold.

From 2012 to 2021, the average annual growth rate of volume from Bahrain stood at +50.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+35.9% per year) and Switzerland (-27.9% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of gold to Kuwait, comprising 84% of total imports. The second position in the ranking was held by Switzerland ($X), with a 13% share of total imports. It was followed by Ghana, with less than 0.1% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates stood at +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+12.1% per year) and Ghana (-18.5% per year).

Import Prices by Country

The average gold import price stood at $X per kg in 2021, dropping by -4.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2020 an increase of 28%. As a result, import price reached the peak level of $X per kg, and then declined slightly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+123.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for gold in the world?

The countries with the highest volumes of gold consumption in 2020 were the UK, Switzerland and China, together accounting for 41% of global consumption.

What are the largest producers of gold in the world?

The countries with the highest volumes of gold production in 2020 were Russia, Argentina and South Africa, together comprising 19% of global production. Hong Kong SAR, Australia, China, Peru, Thailand, the United Arab Emirates, Singapore, Japan, the United States and Canada lagged somewhat behind, together accounting for a further 41%.

What are the leading suppliers of gold to Kuwait?

In value terms, the United Arab Emirates constituted the largest supplier of gold to Kuwait, comprising 74% of total imports. The second position in the ranking was occupied by Switzerland, with a 20% share of total imports.

What are the leading importers of gold from Kuwait?

In value terms, the United Arab Emirates remains the key foreign market for gold exports from Kuwait, comprising 89% of total exports. The second position in the ranking was occupied by Turkey, with an 11% share of total exports.

What is the average export price for gold in Kuwait?

In 2020, the average gold export price amounted to $48,639 per kg, jumping by 17% against the previous year.

What is the average import price for gold in Kuwait?

The average gold import price stood at $54,012 per kg in 2020, picking up by 29% against the previous year.

This report provides an in-depth analysis of the gold market in Kuwait. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24412030 - Gold, unwrought or in powder form for non-monetary use (including plated with platinum)
Prodcom 24412035 -
Prodcom 24412040 -
Prodcom 24412050 - Gold, in semi-manufactured forms for non-monetary use (including plated with platinum) (excluding unwrought or in powder form)
Prodcom 24412070 - Monetary gold (including gold plated with platinum)

Country coverage:

Kuwait

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Kuwait
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024