Andrew Naylor, the Head of ASEAN and Public Policy of World Gold Council stated that Vietnam's total annual gold demand is 43 tons, up 8% over the previous year.
Vietnam's total annual gold demand is 43 tons, up 8% over the previous year. (Photo / Retrieved from Pixabay)
According to the vietnamnet, the demand for jewelry in Vietnam last year was 12 tons, up 11% from the number for 2020, which was 11 tons. However, the market was impacted hard by COVID-19 in the fourth quarter, resulting in a 12% year-on-year drop to 2 tons.
"While many Vietnamese customers were apprehensive of high-value purchases due to the terrible consequences of the epidemic, sales perked up in November with promotional campaigns and the wedding season," said Andrew Naylor, regional CEO, World Gold Council, APAC (ex-China).
Cultural landmarks, along with a resurgence in consumer confidence in Vietnam, resulted in a large increase in annual gold demand."