Puerto Rico: Gold Market 2024

Gold Market Size in Puerto Rico

The Puerto Rican gold market stood at less than $X in 2021, approximately equating 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). Over the period under review, consumption continues to indicate a relatively flat trend pattern.

Gold Exports

Exports from Puerto Rico

In 2021, the amount of gold exported from Puerto Rico stood at less than X kg, therefore, remained relatively stable against the previous year. Over the period under review, exports showed a relatively flat trend pattern.

In value terms, gold exports totaled less than $X in 2021. In general, exports showed a relatively flat trend pattern.

Exports by Country

In 2021, Switzerland (X tons), distantly followed by the UK (X tons), the United Arab Emirates (X tons), Hong Kong SAR (X tons), the United States (X tons) and Peru (X tons) represented the major exporters of gold, together mixing up 53% of total exports. The following exporters - Australia (X tons), Russia (X tons), Singapore (X tons), Canada (X tons), Japan (X tons), Argentina (X tons) and Spain (X tons) - together made up 19% of total exports.

Switzerland experienced a relatively flat trend pattern with regard to volume of exports of gold. At the same time, the UK (+15.1%), Singapore (+14.9%), Russia (+13.8%), Japan (+2.6%) and Peru (+2.4%) displayed positive paces of growth. Moreover, the UK emerged as the fastest-growing exporter exported in the world, with a CAGR of +15.1% from 2012-2021. Australia and Canada experienced a relatively flat trend pattern. By contrast, the United States (-4.2%), Hong Kong SAR (-5.9%), Argentina (-7.1%), the United Arab Emirates (-9.2%) and Spain (-27.1%) illustrated a downward trend over the same period. The UK (+6.9 p.p.), Singapore (+2.8 p.p.), Russia (+2.8 p.p.), Switzerland (+2.1 p.p.) and Peru (+1.6 p.p.) significantly strengthened its position in terms of the global exports, while Hong Kong SAR, the United Arab Emirates and Spain saw its share reduced by -2.7%, -6.9% and -7.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Switzerland ($X) remains the largest gold supplier from Puerto Rico, comprising 21% of global exports. The second position in the ranking was taken by the UK ($X), with a 10% share of global exports. It was followed by the United Arab Emirates, with an 8.2% share.

In Switzerland, gold exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the UK (+37.8% per year) and the United Arab Emirates (+0.5% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, almost unchanged from the previous year. Overall, the export price saw a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+37.2%), while the other leaders experienced more modest paces of growth.

Gold Imports

Imports into Puerto Rico

Gold imports into Puerto Rico amounted to less than X kg in 2021, approximately reflecting 2020 figures. Overall, imports showed a relatively flat trend pattern.

In value terms, gold imports stood at less than $X in 2021. In general, imports continue to indicate a relatively flat trend pattern.

Imports by Country

In 2021, Switzerland (X tons), distantly followed by India (X tons), the UK (X tons), China (X tons), Hong Kong SAR (X tons) and the United Arab Emirates (X tons) represented the main importers of gold, together creating 72% of total imports. Canada (X tons), Singapore (X tons), the United States (X tons), Italy (X tons), Germany (X tons), Thailand (X tons) and Turkey (X tons) followed a long way behind the leaders.

Switzerland experienced a relatively flat trend pattern with regard to volume of imports of gold. At the same time, the UK (+24.4%), Singapore (+21.4%) and Germany (+7.3%) displayed positive paces of growth. Moreover, the UK emerged as the fastest-growing importer imported in the world, with a CAGR of +24.4% from 2012-2021. India and Italy experienced a relatively flat trend pattern. By contrast, Canada (-2.2%), Turkey (-2.9%), the United States (-3.5%), Thailand (-6.0%), Hong Kong SAR (-6.6%), the United Arab Emirates (-9.1%) and China (-15.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the UK, China and Singapore increased by +9.7, +9.5 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Switzerland ($X), India ($X) and the UK ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 51% of total imports.

In terms of the main importing countries, the UK, with a CAGR of +28.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, remaining constant against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+11.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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