Report Update Apr 1, 2024

Vietnam - Gold - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Gold Market 2024

Gold Market Size in Vietnam

The Vietnamese gold market soared to $X in 2021, with an increase of 56% against the previous year. Over the period under review, consumption enjoyed a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Gold Production in Vietnam

In value terms, gold production dropped slightly to $X in 2021 estimated in export price. Overall, production saw a abrupt descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by 10%. Gold production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

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Gold Exports

Exports from Vietnam

After two years of growth, shipments abroad of gold decreased by -89.6% to X kg in 2021. In general, exports recorded a sharp curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 708% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, gold exports contracted markedly to $X in 2021. Over the period under review, exports continue to indicate a sharp shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 741%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X kg) was the main destination for gold exports from Vietnam, accounting for a 71% share of total exports. Moreover, gold exports to Japan exceeded the volume sent to the second major destination, Malaysia (X kg), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan totaled +11.0%.

In value terms, Japan ($X) remains the key foreign market for gold exports from Vietnam, comprising 71% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan stood at +13.4%.

Export Prices by Country

The average gold export price stood at $X per kg in 2021, with an increase of 22% against the previous year. Over the period under review, the export price recorded a slight increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per kg), while the average price for exports to Malaysia stood at $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+35.5%), while the prices for the other major destinations experienced mixed trend patterns.

Gold Imports

Imports into Vietnam

Gold imports into Vietnam skyrocketed to X tons in 2021, with an increase of 17% against 2020. Over the period under review, imports posted prominent growth. The most prominent rate of growth was recorded in 2020 when imports increased by 46%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, gold imports surged to $X in 2021. In general, imports continue to indicate a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Hong Kong SAR (X tons), South Korea (X tons) and Japan (X kg) were the main suppliers of gold imports to Vietnam, together accounting for 73% of total imports. These countries were followed by Australia, France, the United States and China, which together accounted for a further 18%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +43.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), South Korea ($X) and Japan ($X) appeared to be the largest gold suppliers to Vietnam, together comprising 74% of total imports. Australia, France, the United States and China lagged somewhat behind, together comprising a further 18%.

Among the main suppliers, China, with a CAGR of +43.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gold import price stood at $X per kg in 2021, with an increase of 16% against the previous year. Overall, the import price, however, recorded a perceptible descent. The growth pace was the most rapid in 2013 when the average import price increased by 16%. As a result, import price reached the peak level of $X per kg. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Australia ($X per kg) and the United States ($X per kg), while the price for France ($X per kg) and South Korea ($X per kg) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for gold in the world?

The countries with the highest volumes of consumption in 2021 were the UK, China and India, together comprising 38% of global consumption. Switzerland, the United Arab Emirates, the United States, Belgium, Hong Kong SAR, Thailand, Argentina, Germany, Peru and Canada lagged somewhat behind, together accounting for a further 38%.

What are the largest producers of gold in the world?

The UK remains the largest gold producing country worldwide, accounting for 15% of total volume. Moreover, gold production in the UK exceeded the figures recorded by the second-largest producer, the United States, twofold. The United Arab Emirates ranked third in terms of total production with a 7.5% share.

What are the leading suppliers of gold to Vietnam?

In value terms, Hong Kong SAR, South Korea and Japan were the largest gold suppliers to Vietnam, with a combined 74% share of total imports. Australia, France, the United States and China lagged somewhat behind, together accounting for a further 18%.

What are the leading importers of gold from Vietnam?

In value terms, Japan remains the key foreign market for gold exports from Vietnam, comprising 71% of total exports. The second position in the ranking was held by Malaysia, with a 27% share of total exports.

What is the average export price for gold in Vietnam?

The average gold export price stood at $56,609 per kg in 2021, growing by 22% against the previous year.

What is the average import price for gold in Vietnam?

The average gold import price stood at $36,675 per kg in 2021, jumping by 16% against the previous year.

This report provides an in-depth analysis of the gold market in Vietnam. 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:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
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
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023