Tanzania: Semi-Manufactured Gold Market 2024

Semi-Manufactured Gold Market Size in Tanzania

The Tanzanian semi-manufactured gold market soared to $X in 2022, picking up by 24% against the previous year. In general, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +52.9% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Semi-Manufactured Gold Production in Tanzania

In value terms, semi-manufactured gold production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when the production volume increased by 18% against the previous year. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Semi-Manufactured Gold Exports

Exports from Tanzania

In 2022, shipments abroad of gold, in semi-manufactured forms decreased by -99.6% to X kg, falling for the second year in a row after six years of growth. Overall, exports showed a sharp decrease. The most prominent rate of growth was recorded in 2019 with an increase of 120%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, semi-manufactured gold exports reduced notably to $X in 2022. Over the period under review, exports recorded a precipitous slump. The most prominent rate of growth was recorded in 2019 when exports increased by 134%. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Italy (X kg), the United Arab Emirates (X kg) and the United States (X kg) were the main destinations of semi-manufactured gold exports from Tanzania.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, Italy ($X), the United Arab Emirates ($X) and the United States ($X) were the largest markets for semi-manufactured gold exported from Tanzania worldwide.

In terms of the main countries of destination, Italy, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average semi-manufactured gold export price amounted to $X per kg, rising by 10% against the previous year. Over the period under review, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, semi-manufactured gold export price increased by +64.0% against 2014 indices. The pace of growth appeared the most rapid in 2020 an increase of 28%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per kg), while the average price for exports to the United States ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uganda (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Gold Imports

Imports into Tanzania

In 2022, purchases abroad of gold, in semi-manufactured forms decreased by -33.3% to X kg for the first time since 2019, thus ending a two-year declining trend. In general, imports continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 267%. As a result, imports reached the peak of X kg. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, semi-manufactured gold imports contracted sharply to $X in 2022. Overall, imports faced a deep setback. The most prominent rate of growth was recorded in 2018 when imports increased by 1,975%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Australia (X kg) was the main supplier of semi-manufactured gold to Tanzania, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Australia totaled +7.2%.

In value terms, Australia ($X) constituted the largest supplier of gold, in semi-manufactured forms to Tanzania.

From 2012 to 2022, the average annual growth rate of value from Australia totaled +16.9%.

Import Prices by Country

In 2022, the average semi-manufactured gold import price amounted to $X per kg, increasing by 22% against the previous year. Overall, the import price, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2018 when the average import price increased by 938% against the previous year. The import price peaked at $X per kg in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Australia.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +67.2% per year.

Source: IndexBox Platform

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