Slovakia: Gold Market 2025

Gold Market Size in Slovakia

In 2021, the Slovak gold market decreased by -71.2% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption saw a deep downturn. Gold consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Gold Production in Slovakia

In value terms, gold production reduced sharply to $X in 2021 estimated in export price. Over the period under review, production saw a pronounced contraction. The pace of growth was the most pronounced in 2020 with an increase of 73%. Gold production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Gold Exports

Exports from Slovakia

In 2021, exports of gold from Slovakia contracted sharply to X kg, waning by -54.2% on the previous year. Over the period under review, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of 139% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, gold exports declined rapidly to $X in 2021. In general, exports recorded a drastic downturn. The growth pace was the most rapid in 2014 when exports increased by 89% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Austria (X kg), Hungary (X kg) and Germany (X kg) were the main destinations of gold exports from Slovakia, together comprising 80% of total exports.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +9.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Germany ($X) and Austria ($X) constituted the largest markets for gold exported from Slovakia worldwide, together comprising 81% of total exports.

Hungary, with a CAGR of +25.0%, saw the highest growth rate of the value of exports, among the main countries of destination 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, jumping by 22% against the previous year. Overall, the export price saw a moderate increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 63% against the previous year. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per kg), while the average price for exports to Austria ($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 Belgium (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Gold Imports

Imports into Slovakia

In 2021, imports of gold into Slovakia expanded sharply to X tons, surging by 7.3% on 2020. Overall, imports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2013 with an increase of 138%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, gold imports plummeted to $X in 2021. Over the period under review, imports saw strong growth. The pace of growth was the most pronounced in 2013 when imports increased by 378%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of gold to Slovakia, accounting for a 74% share of total imports. Moreover, gold imports from Germany exceeded the figures recorded by the second-largest supplier, Austria (X kg), fivefold. The third position in this ranking was held by the Czech Republic (X kg), with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +42.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-4.1% per year) and the Czech Republic (-31.8% per year).

In value terms, Austria ($X) constituted the largest supplier of gold to Slovakia, comprising 64% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 13% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Austria amounted to +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+2.5% per year) and Italy (-11.2% per year).

Import Prices by Country

In 2021, the average gold import price amounted to $X per kg, which is down by -40.2% against the previous year. Overall, the import price, however, recorded significant growth. The growth pace was the most rapid in 2014 an increase of 187% against the previous year. Over the period under review, average import prices reached the peak figure at $X per kg in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+72.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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