Gold Market in Rwanda
Market Overview
The Rwandan gold market stood at $
in , remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded significant growth. Gold consumption peaked in and is likely to see gradual growth in the immediate term.
In value terms, gold production fell modestly to $ in estimated in export price. In general, production, however, posted a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of %. Gold production peaked at $ in 2018; however, from 2019 to , production stood at a somewhat lower figure.
in , remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded significant growth. Gold consumption peaked in and is likely to see gradual growth in the immediate term.In value terms, gold production fell modestly to $
in estimated in export price. In general, production, however, posted a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of %. Gold production peaked at $ in 2018; however, from 2019 to , production stood at a somewhat lower figure.Consumption
Gold consumption in Rwanda reduced slightly to tons in , declining by -% compared with the year before. In general, consumption, however, recorded a significant expansion. As a result, consumption attained the peak volume of tons, and then reduced modestly in the following year.
The revenue of the gold market in Rwanda reduced modestly to $ in , shrinking by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw significant growth. Over the period under review, the market hit record highs at $ in , and then reduced modestly in the following year.
tons in , declining by -% compared with the year before. In general, consumption, however, recorded a significant expansion. As a result, consumption attained the peak volume of tons, and then reduced modestly in the following year.The revenue of the gold market in Rwanda reduced modestly to $
in , shrinking by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw significant growth. Over the period under review, the market hit record highs at $ in , and then reduced modestly in the following year.Market Forecast
The gold market is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .
In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .In value terms, the market is forecast to contract with an anticipated CAGR of -
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review.
, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review.Trade Balance
Rwanda remains a net importer of gold; in physical and value terms, imports consistently exceeded exports from 2009 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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