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South Africa - Gold - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSouth Africa: Gold Market 2024
Gold Market Size in South Africa
The South African gold market shrank to $X in 2021, which is down by -6.5% against the previous year. In general, consumption, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 7.4%. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.
Gold Production in South Africa
In value terms, gold production dropped rapidly to $X in 2021 estimated in export price. In general, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 1,343% against the previous year. As a result, production attained the peak level of $X, and then fell remarkably in the following year.
Gold Exports
Exports from South Africa
In 2021, gold exports from South Africa surged to X kg, with an increase of 91% compared with the previous year's figure. In general, exports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2015 with an increase of 9,207,450% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.
In value terms, gold exports contracted rapidly to $X in 2021. Overall, exports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2015 with an increase of 9,133,585% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.
Exports by Country
The United Arab Emirates (X kg) was the main destination for gold exports from South Africa, accounting for a approx. 100% share of total exports.
From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at -3.5%.
In value terms, the United Arab Emirates ($X) also remains the key foreign market for gold exports from South Africa.
From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates totaled -15.7%.
Export Prices by Country
In 2021, the average gold export price amounted to $X per kg, waning by -92.4% against the previous year. Over the period under review, the export price saw a abrupt setback. The most prominent rate of growth was recorded in 2020 an increase of 1,482% against the previous year. As a result, the export price attained the peak level of $X per kg, and then shrank sharply in the following year.
As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.
From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to -12.7% per year.
Gold Imports
Imports into South Africa
In 2021, the amount of gold imported into South Africa rose markedly to X tons, growing by 6.1% against 2020. Overall, imports showed significant growth. The growth pace was the most rapid in 2017 when imports increased by 1,036%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.
In value terms, gold imports expanded significantly to $X in 2021. Over the period under review, imports saw a significant increase. The growth pace was the most rapid in 2017 with an increase of 33,208% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.
Imports by Country
In 2021, Namibia (X tons) constituted the largest gold supplier to South Africa, accounting for a 74% share of total imports. Moreover, gold imports from Namibia exceeded the figures recorded by the second-largest supplier, Vietnam (X kg), eightfold. The United Arab Emirates (X kg) ranked third in terms of total imports with an 8.6% share.
From 2012 to 2021, the average annual rate of growth in terms of volume from Namibia stood at -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+94.2% per year) and the United Arab Emirates (+48.1% per year).
In value terms, Namibia ($X) constituted the largest supplier of gold to South Africa, comprising 83% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.9% share of total imports. It was followed by Botswana, with a 7.1% share.
From 2012 to 2021, the average annual rate of growth in terms of value from Namibia stood at +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+83.6% per year) and Botswana (-14.3% per year).
Import Prices by Country
The average gold import price stood at $X per kg in 2021, rising by 1.9% against the previous year. Overall, the import price continues to indicate a significant expansion. The pace of growth appeared the most rapid in 2017 an increase of 2,831%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per kg), while the price for Vietnam ($X per kg) 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 (+24.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the gold market in South Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24412030 - Gold, unwrought or in powder form for non-monetary use (including plated with platinum)
- Prodcom 24412035 -
- Prodcom 24412040 -
- Prodcom 24412050 - Gold, in semi-manufactured forms for non-monetary use (including plated with platinum) (excluding unwrought or in powder form)
- Prodcom 24412070 - Monetary gold (including gold plated with platinum)
Country coverage:
- South Africa
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in South Africa
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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