Thailand - Gold - Market Analysis, Forecast, Size, Trends and Insights
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View PricingGold Price in Thailand - 2023
Contents:
- Gold Price in Thailand (CIF) - 2023
- Gold Price in Thailand (FOB) - 2023
- Gold Imports in Thailand
- Gold Exports in Thailand
Gold Price in Thailand (CIF) - 2023
The average gold import price stood at $63.4M per ton in July 2023, remaining relatively unchanged against the previous month. Over the period from July 2022 to July 2023, it increased at an average monthly rate of +1.3%. The pace of growth was the most pronounced in March 2023 an increase of 8.9% m-o-m. Over the period under review, average import prices hit record highs at $64.8M per ton in May 2023; afterwards, it flattened through to July 2023.
Average prices varied noticeably amongst the major supplying countries. In July 2023, the countries with the highest prices were Cambodia ($70.9M per ton) and the United Arab Emirates ($63.8M per ton), while the price for Singapore ($60.8M per ton) and Japan ($62.5M per ton) were amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Singapore (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Gold Price in Thailand (FOB) - 2023
In July 2023, the average gold export price amounted to $60.8M per ton, picking up by 1.6% against the previous month. Over the period from July 2022 to July 2023, it increased at an average monthly rate of +1.5%. The pace of growth appeared the most rapid in January 2023 when the average export price increased by 47% against the previous month. Over the period under review, the average export prices reached the peak figure at $63.0M per ton in May 2023; afterwards, it flattened through to July 2023.
Average prices varied noticeably for the major export markets. In July 2023, the countries with the highest prices were Singapore ($63.4M per ton) and Switzerland ($63.0M per ton), while the average price for exports to Hong Kong SAR ($53.6M per ton) and Japan ($60.4M per ton) were amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.
Gold Imports in Thailand
In 2022, the amount of gold imported into Thailand soared to 201 tons, increasing by 33% on the previous year. Overall, imports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of 54%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.
In value terms, gold imports surged to $12.1B in 2022. In general, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 67%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.
| Import of Gold in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 1,957 | 1,224 | 3,870 | 6,054 | 45.7% |
| Hong Kong SAR | 1,364 | 1,239 | 1,923 | 2,020 | 14.0% |
| Singapore | 627 | 1,258 | 477 | 856 | 10.9% |
| Japan | 198 | 109 | 194 | 757 | 56.4% |
| Australia | 451 | 109 | 806 | 572 | 8.2% |
| Lao People's Democratic Republic | N/A | 345 | 297 | 309 | -5.4% |
| United Arab Emirates | 340 | 15.1 | 158 | 275 | -6.8% |
| Malaysia | 90.4 | 132 | 178 | 199 | 30.1% |
| Cambodia | 819 | 336 | N/A | N/A | -59.0% |
| Others | 337 | 300 | 552 | 1,022 | 44.7% |
| Total | 6,183 | 5,068 | 8,456 | 12,064 | 25.0% |
Top Suppliers of Gold to Thailand in 2022:
- Switzerland (100.7 tons)
- Hong Kong SAR (32.7 tons)
- Singapore (14.6 tons)
- Japan (12.6 tons)
- Australia (9.4 tons)
- Lao People's Democratic Republic (6.2 tons)
- United Arab Emirates (4.4 tons)
- Malaysia (3.0 tons)
Gold Exports in Thailand
In 2022, approx. 123 tons of gold were exported from Thailand; rising by 75% compared with 2021. Over the period under review, exports, however, saw a deep slump.
In value terms, gold exports skyrocketed to $7.2B in 2022. In general, exports, however, showed a relatively flat trend pattern.
| Export of Gold in Thailand (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 4.1 | 6.9 | 0.6 | 2.4 | -16.3% |
| Cambodia | 0.6 | 0.2 | 0.3 | 1.7 | 41.5% |
| Singapore | 1.1 | 3.8 | 1.7 | 1.5 | 10.9% |
| Hong Kong SAR | 0.3 | 1.0 | 0.5 | 0.7 | 32.6% |
| Lao People's Democratic Republic | N/A | N/A | 0.4 | 0.4 | 0.0% |
| Australia | 0.8 | 1.1 | 0.2 | 0.3 | -27.9% |
| Others | 0.3 | 0.2 | 0.2 | 0.3 | 0.0% |
| Total | 7.3 | 13.2 | 3.8 | 7.2 | -0.5% |
Top Export Markets for Gold from Thailand in 2022:
- Switzerland (39.8 tons)
- Cambodia (28.1 tons)
- Singapore (25.1 tons)
- Hong Kong SAR (12.0 tons)
- Lao People's Democratic Republic (5.9 tons)
- Australia (5.6 tons)
This report provides an in-depth analysis of the gold market in Thailand. 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:
- Thailand
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Thailand
- 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.
-
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
-
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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