Ukraine: Semi-Manufactured Gold Market 2025

Semi-Manufactured Gold Market Size in Ukraine

After four years of growth, the Ukrainian semi-manufactured gold market decreased by -50.5% to $X in 2022. Over the period under review, consumption showed a deep downturn. Semi-manufactured gold consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Semi-Manufactured Gold Production in Ukraine

In value terms, semi-manufactured gold production reduced to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt decrease. The growth pace was the most rapid in 2017 with an increase of 36% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Semi-Manufactured Gold Exports

Exports from Ukraine

In 2022, the amount of gold, in semi-manufactured forms exported from Ukraine shrank notably to X kg, falling by -76.4% compared with 2021 figures. Overall, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 725%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, semi-manufactured gold exports fell remarkably to $X in 2022. Over the period under review, exports, however, showed a prominent expansion. The growth pace was the most rapid in 2013 when exports increased by 777%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Switzerland (X kg) was the main destination for semi-manufactured gold exports from Ukraine, accounting for a 71% share of total exports. Moreover, semi-manufactured gold exports to Switzerland exceeded the volume sent to the second major destination, Italy (X kg), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Switzerland amounted to +5.8%.

In value terms, Switzerland ($X) remains the key foreign market for gold, in semi-manufactured forms exports from Ukraine, comprising 81% of total exports. The second position in the ranking was taken by Italy ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Switzerland amounted to +10.8%.

Export Prices by Country

In 2022, the average semi-manufactured gold export price amounted to $X per kg, dropping by -5% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2020 when the average export price increased by 25% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2021 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per kg), while the average price for exports to Italy stood at $X per kg.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+26.7%), while the prices for the other major destinations experienced mixed trend patterns.

Semi-Manufactured Gold Imports

Imports into Ukraine

In 2022, purchases abroad of gold, in semi-manufactured forms decreased by -75.3% to X kg for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports showed a precipitous curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 230% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, semi-manufactured gold imports fell rapidly to $X in 2022. In general, imports recorded a dramatic contraction. The most prominent rate of growth was recorded in 2020 with an increase of 322%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Switzerland (X kg) was the main supplier of semi-manufactured gold to Ukraine, with a 97% share of total imports. It was followed by France (X kg), with a 2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Switzerland amounted to -16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+25.9% per year) and the UK (-45.9% per year).

In value terms, Switzerland ($X) constituted the largest supplier of gold, in semi-manufactured forms to Ukraine, comprising 100% of total imports. The second position in the ranking was taken by France ($X), with a 0.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Switzerland amounted to -17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+74.0% per year) and the UK (-66.4% per year).

Import Prices by Country

The average semi-manufactured gold import price stood at $X per kg in 2022, which is down by -4.7% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 28%. As a result, import price reached the peak level of $X per kg. From 2021 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per kg), while the price for the UK ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+38.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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