Austria: Gold Market 2024

Gold Market Size in Austria

In 2021, the Austrian gold market increased by 227% to $X, rising for the second year in a row after two years of decline. In general, consumption continues to indicate strong growth. Gold consumption peaked in 2021 and is expected to retain growth in the near future.

Gold Exports

Exports from Austria

In 2021, gold exports from Austria surged to X tons, growing by 22% compared with the previous year. Over the period under review, exports posted a moderate increase. The pace of growth appeared the most rapid in 2020 with an increase of 69% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, gold exports skyrocketed to $X in 2021. In general, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 106% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons) was the main destination for gold exports from Austria, with a 50% share of total exports. Moreover, gold exports to Germany exceeded the volume sent to the second major destination, the UK (X tons), threefold. The Czech Republic (X tons) ranked third in terms of total exports with a 9% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+43.9% per year) and the Czech Republic (-3.3% per year).

In value terms, Germany ($X) remains the key foreign market for gold exports from Austria, comprising 47% of total exports. The second position in the ranking was taken by the UK ($X), with an 18% share of total exports. It was followed by the Czech Republic, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+46.9% per year) and the Czech Republic (+2.8% per year).

Export Prices by Country

The average gold export price stood at $X per kg in 2021, picking up by 6.2% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, gold export price increased by +63.1% against 2015 indices. The pace of growth appeared the most rapid in 2020 an increase of 22% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per kg), while the average price for exports to Switzerland ($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 the Czech Republic (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

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Gold Imports

Imports into Austria

In 2021, the amount of gold imported into Austria surged to X tons, with an increase of 99% against the year before. In general, imports enjoyed strong growth. The pace of growth appeared the most rapid in 2020 with an increase of 136% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, gold imports surged to $X in 2021. Overall, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 202% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), Switzerland (X tons) and the UK (X tons) were the main suppliers of gold imports to Austria, with a combined 99% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +180.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), Switzerland ($X) and the UK ($X) constituted the largest gold suppliers to Austria, with a combined 99% share of total imports.

In terms of the main suppliers, the UK, with a CAGR of +438.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average gold import price amounted to $X per kg, surging by 1.8% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, gold import price increased by +58.2% against 2015 indices. The most prominent rate of growth was recorded in 2020 an increase of 28%. The import price peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per kg), while the price for Switzerland ($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 UK (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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