Gold Compounds Price in the Philippines - 2023
Contents:
Gold Compounds Price in the Philippines (CIF) - 2022
The average gold compounds import price stood at $4,133,163 per ton in 2022, waning by -12.3% against the previous year. In general, the import price recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 250% against the previous year. Over the period under review, average import prices reached the maximum at $14,009,522 per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.
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 Japan ($4,635,756 per ton), while the price for China ($13,528 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+42.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Gold Compounds Imports in the Philippines
In 2022, purchases abroad of gold compoundses decreased by -1.4% to 2.9 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 96% against the previous year.
In value terms, gold compounds imports contracted to $12M in 2022. The total import value increased at an average annual rate of +2.9% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 17%.
| Import of Gold Compounds in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 9.9 | 12.1 | 13.7 | 11.4 | 4.8% |
| South Korea | N/A | N/A | N/A | 0.3 | 0% |
| New Zealand | N/A | N/A | N/A | N/A | 0% |
| Germany | N/A | N/A | N/A | N/A | 0% |
| China | 0.1 | N/A | N/A | N/A | 0% |
| Others | 1.0 | 0.8 | 0.1 | 0.3 | -33.1% |
| Total | 11.0 | 12.9 | 13.8 | 12.0 | 2.9% |
Top Suppliers of Gold Compounds to the Philippines in 2022:
- Japan (2460.0 kg)
- Germany (178.0 kg)
- South Korea (91.0 kg)
- New Zealand (80.0 kg)
- China (53.0 kg)
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