EU: Gold Ore Market 2020

Gold Ore Market Size in the EU

The revenue of the gold ore market in the European Union amounted to $X in 2017, rising by X% against the previous year. The gold ore consumption continues to indicate an outstanding growth. The most prominent rate of growth was recorded in 2008, with an increase of X% against the previous year. Over the period under review, the gold ore market attained its peak figure level in 2017, and is likely to continue its growth in the near future.

Gold Ore Production in the EU

In 2017, the amount of gold ores and concentrates produced in the European Union totaled X tons, stabilizing at the previous year. The gold ore production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016, with an increase of -X% year-to-year. The volume of gold ore production peaked of X tons in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.

Gold Ore Exports

Exports in the EU

The exports stood at X tons in 2017, lowering by -X% against the previous year. The gold ore exports continue to indicate a sharp descent. The most prominent rate of growth was recorded in 2014, with an increase of X% against the previous year. The volume of exports peaked of X tons in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.

In value terms, gold ore exports totaled $X in 2017. The gold ore exports continue to indicate a relatively flat trend pattern. Over the period under review, the gold ore exports attained its peak figure level of $X in 2013; however, from 2014 to 2017, it stood at a somewhat lower level.

Exports by Country

In 2017, Greece (X tons) represented the key exporter for gold ores and concentrates, achieving X% of total exports. Spain (X tons) held a X% share (based on tons) of total exports, which put it in second place, followed by Finland (X%). The following exporters - Bulgaria (X tons) and Slovakia (X tons) each recorded a X% share of total exports.

From 2007 to 2017, average annual rates of growth with regard to gold ore exports from Greece stood at +X%. At the same time, Finland (+X%), Spain (+X%), Slovakia (+X%) and Bulgaria (+X%) displayed positive paces of growth. Moreover, Finland emerged as the fastest growing exporter in the European Union, with a CAGR of +X% from 2007-2017. While the share of Finland (-X%), Spain (-X%) and Greece (-X%) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bulgaria ($X) remains the largest gold ore supplier in the European Union, making up X% of global exports. The second position in the ranking was occupied by Spain ($X), with a X% share of global exports. It was followed by Finland, with a X% share.

From 2007 to 2017, the average annual growth rate of value in Bulgaria amounted to -X%. The remaining exporting countries recorded the following average annual rates of exports growth: Spain (+X% per year) and Finland (+X% per year).

Export Prices by Country

In 2017, the gold ore export price in the European Union amounted to $X per ton, jumping by X% against the previous year. The gold ore export price continues to indicate a skyrocketing increase. The most prominent rate of growth was recorded in 2016, an increase of X% year-to-year. Over the period under review, the export prices for gold ores and concentrates attained its peak figure level in 2017, and is expected to retain its growth in the immediate term.

There were significant differences in the average export prices amongst the major exporting countries. In 2017, the country with the highest export price was Bulgaria ($X per kg), while Greece ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Slovakia (+X% per year), while the other leaders experienced mixed trends in the export price figures.

Gold Ore Imports

Imports in the EU

The imports totaled X tons in 2017, jumping by X% against the previous year. The gold ore imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017, with an increase of X% against the previous year. In that year, the gold ore imports reached their peak volume, and are likely to continue its growth in the immediate term.

In value terms, gold ore imports stood at $X in 2017. The total imports indicated a tangible expansion from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the gold ore imports increased by +X% against 2014 indices. The level of imports peaked in 2017, and are expected to retain its growth in the near future.

Imports by Country

The UK was the major importing country with an import of about X tons, which amounted to X% of total imports. Belgium (X tons) held a X% share (based on tons) of total imports, which put it in second place, followed by Sweden (X%). Germany (X tons) followed a long way behind the leaders.

Imports into the UK decreased at an average annual rate of -X% from 2007 to 2017. At the same time, Belgium (+X%), Germany (+X%) and Sweden (+X%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest growing importer in the European Union, with a CAGR of +X% from 2007-2017. The UK (X%) significantly strengthened its position in terms of the global imports, while Germany and Belgium saw its share reduced by -X% and -X% from 2007 to 2017, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest gold ore markets worldwide were Germany ($X), the UK ($X) and Belgium ($X), with a combined X% share of total imports.

Belgium (+X% per year) experienced the highest growth rate of imports, in terms of the main importing countriesover the last decade, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The gold ore import price in the European Union stood at $X per kg in 2017, reducing by -X% against the previous year. The import price indicated a moderate expansion from 2007 to 2017: its price increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the gold ore import price decreased by -X% against 2014 indices. The pace of growth appeared the most rapid in 2014, when the import prices increased by X% y-o-y. In that year, the import prices for gold ores and concentrates attained their peak level of $X per kg. From 2015 to 2017, growth of the import prices for gold ores and concentrates stood at a somewhat lower level.

Import prices varied noticeably by the country of destination; the country with the highest import price was Germany ($X per kg), while the UK ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Sweden (-X% per year), while the other leaders experienced a decline in the import price figures.

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Source: IndexBox Platform