Peru: Gold Market 2025

Gold Market Size in Peru

The Peruvian gold market was finally on the rise to reach $X in 2021, after three years of decline. In general, consumption, however, recorded a abrupt decline. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Gold Production in Peru

In value terms, gold production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, saw a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of 23%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Gold Exports

Exports from Peru

In 2021, shipments abroad of gold increased by 10% to X tons, rising for the sixth year in a row after three years of decline. The total export volume increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when exports increased by 19% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, gold exports surged to $X in 2021. Overall, exports, however, recorded a perceptible curtailment. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X tons), Switzerland (X tons) and the United States (X tons) were the main destinations of gold exports from Peru, together comprising 83% of total exports. India and the United Arab Emirates lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +80.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gold exported from Peru were India ($X), Canada ($X) and Switzerland ($X), with a combined 78% share of total exports. The United Arab Emirates and the United States lagged somewhat behind, together accounting for a further 20%.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +79.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average gold export price stood at $X per kg in 2021, growing by 8.8% against the previous year. Over the period under review, the export price, however, saw a noticeable descent. Over the period under review, the average export prices attained the peak figure at $X per kg in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per kg), while the average price for exports to the United States ($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 India (+14.5%), while the prices for the other major destinations experienced a decline.

Gold Imports

Imports into Peru

In 2021, purchases abroad of gold increased by 167% to X kg for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 180% against the previous year. Over the period under review, imports reached the peak figure at X kg in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, gold imports skyrocketed to $X in 2021. In general, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 196%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Australia (X kg) constituted the largest supplier of gold to Peru, with a 61% share of total imports. Moreover, gold imports from Australia exceeded the figures recorded by the second-largest supplier, the United States (X kg), fourfold. The third position in this ranking was taken by Italy (X kg), with a 6.2% share.

From 2012 to 2021, the average annual growth rate of volume from Australia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.5% per year) and Italy (-6.5% per year).

In value terms, the United States ($X) constituted the largest supplier of gold to Peru, comprising 60% of total imports. The second position in the ranking was taken by Australia ($X), with a 27% share of total imports. It was followed by Italy, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (0.0% per year) and Italy (+157.9% per year).

Import Prices by Country

In 2021, the average gold import price amounted to $X per kg, which is down by -56.2% against the previous year. In general, the import price showed a deep contraction. The pace of growth appeared the most rapid in 2019 an increase of 72% against the previous year. Over the period under review, average import prices attained the peak figure at $X per kg in 2020, and then reduced markedly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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