Malaysia: Gold Market 2025

Gold Market Size in Malaysia

In 2021, the Malaysian gold market increased by 88% to $X, rising for the second year in a row after two years of decline. Overall, consumption posted a buoyant expansion. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in years to come.

Gold Production in Malaysia

In value terms, gold production dropped modestly to $X in 2021 estimated in export price. Overall, production showed a drastic downturn. The pace of growth was the most pronounced in 2018 when the production volume increased by 64%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Gold Exports

Exports from Malaysia

For the third year in a row, Malaysia recorded decline in overseas shipments of gold, which decreased by -1.8% to X tons in 2021. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 610%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, gold exports rose slightly to $X in 2021. In general, exports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2018 when exports increased by 730%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X kg), Singapore (X kg) and Switzerland (X kg) were the main destinations of gold exports from Malaysia, with a combined 48% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Switzerland (with a CAGR of +73.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Switzerland ($X) and Singapore ($X) constituted the largest markets for gold exported from Malaysia worldwide, together accounting for 52% of total exports.

Among the main countries of destination, Switzerland, with a CAGR of +92.4%, 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

The average gold export price stood at $X per kg in 2021, growing by 6.4% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 17%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Gold Imports

Imports into Malaysia

In 2021, after two years of decline, there was significant growth in purchases abroad of gold, when their volume increased by 85% to X tons. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 97%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, gold imports soared to $X in 2021. Overall, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +10.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 98%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Singapore (X tons) constituted the largest supplier of gold to Malaysia, accounting for a 52% share of total imports. Moreover, gold imports from Singapore exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), threefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Singapore amounted to +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+2.1% per year) and the United Arab Emirates (+21.5% per year).

In value terms, Singapore ($X) constituted the largest supplier of gold to Malaysia, comprising 53% of total imports. The second position in the ranking was held by Switzerland ($X), with a 20% share of total imports. It was followed by the United Arab Emirates, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Singapore amounted to +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+5.2% per year) and the United Arab Emirates (+24.8% per year).

Import Prices by Country

The average gold import price stood at $X per kg in 2021, therefore, remained relatively stable against the previous year. In general, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, gold import price increased by +61.7% against 2018 indices. The pace of growth appeared the most rapid in 2020 an increase of 30%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Hong Kong SAR ($X per kg) and Singapore ($X per kg), while the price for Japan ($X per kg) and the United Arab Emirates ($X per kg) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :