Norway: Semi-Manufactured Gold Market 2025

Semi-Manufactured Gold Market Size in Norway

In 2022, the Norwegian semi-manufactured gold market decreased by -17.9% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, saw pronounced growth. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Semi-Manufactured Gold Production in Norway

In value terms, semi-manufactured gold production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 33%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Semi-Manufactured Gold Exports

Exports from Norway

In 2022, shipments abroad of gold, in semi-manufactured forms increased by 94% to X kg, rising for the second year in a row after two years of decline. Overall, exports, however, showed a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by 395%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, semi-manufactured gold exports soared to $X in 2022. Over the period under review, exports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 438%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X kg) was the main destination for semi-manufactured gold exports from Norway, with a 94% share of total exports. Moreover, semi-manufactured gold exports to Sweden exceeded the volume sent to the second major destination, the Netherlands (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Sweden stood at -3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+20.6% per year) and Denmark (-30.2% per year).

In value terms, Sweden ($X) remains the key foreign market for gold, in semi-manufactured forms exports from Norway, comprising 99% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 1.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden stood at -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+6.7% per year) and Denmark (-42.4% per year).

Export Prices by Country

In 2022, the average semi-manufactured gold export price amounted to $X per kg, increasing by 8% against the previous year. Overall, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.5% 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 increased by +67.6% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of 43% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per kg), while the average price for exports to Denmark ($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 Switzerland (+11.9%), while the prices for the other major destinations experienced mixed trend patterns.

Semi-Manufactured Gold Imports

Imports into Norway

After three years of growth, purchases abroad of gold, in semi-manufactured forms decreased by -33.3% to X kg in 2022. In general, imports showed a deep slump. The most prominent rate of growth was recorded in 2017 when imports increased by 72%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, semi-manufactured gold imports shrank markedly to $X in 2022. Over the period under review, imports faced a abrupt setback. The growth pace was the most rapid in 2017 with an increase of 88%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X kg) constituted the largest semi-manufactured gold supplier to Norway, with a 76% share of total imports. Moreover, semi-manufactured gold imports from Germany exceeded the figures recorded by the second-largest supplier, Austria (X kg), eightfold. The third position in this ranking was taken by Italy (X kg), with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-17.6% per year) and Italy (+12.1% per year).

In value terms, the largest semi-manufactured gold suppliers to Norway were Austria ($X), Germany ($X) and Italy ($X), with a combined 91% share of total imports.

In terms of the main suppliers, Italy, with a CAGR of +5.2%, saw the highest rates of growth with regard to 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, with a decrease of -39.2% against the previous year. Overall, the import price showed a drastic downturn. The most prominent rate of growth was recorded in 2020 an increase of 59%. Over the period under review, average import prices hit record highs at $X per kg in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+92.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :