Trade Trends
Global exports of gold in unwrought, semi-manufactured, or powder form rose from $297.37B in 2019 to $483.97B in 2023, marking a 62.75% increase. Annual growth was consistent, with values reaching $378.77B in 2020, $394.26B in 2021, and $439.82B in 2022.
This upward trajectory in USD$ terms reflects sustained demand for gold across investment, industrial, and reserve sectors. Market volatility, inflationary pressures, and geopolitical uncertainty have contributed to gold’s role as a strategic asset, prompting increased export activity from both traditional and emerging suppliers.
Top Trading Countries
Switzerland led global gold exports in 2024 with $116.82B, up from $107.17B in 2023 and $61.91B in 2019. This represents a 73.11% increase from 2019 to 2023 and 9.01% growth from 2023 to 2024.
The United Kingdom followed with $65.42B in 2024, nearly unchanged from $65.22B in 2023. Compared to $23.32B in 2019, this marks a 179.64% increase over five years.
Hong Kong exported $56.54B in 2024, rising from $40.24B in 2023 and $25.19B in 2019. Its growth was 59.72% from 2019 to 2023 and 40.51% between 2023 and 2024.
The United Arab Emirates reached $52.83B in 2023, up from $19.11B in 2019, reflecting a 176.4% increase. Data for 2024 is not available.
The United States exported $29.68B in 2024, up from $26.04B in 2023 and $17.17B in 2019. This marks a 51.65% increase from 2019 to 2023 and 13.96% growth from 2023 to 2024.
Canada reached $27.28B in 2024, rising from $21.36B in 2023 and $15.72B in 2019. Its growth was 35.89% from 2019 to 2023 and 27.75% between 2023 and 2024.
On the Rise
China expanded its gold exports from $982.33M in 2019 to $3.89B in 2023 and $12.36B in 2024. This reflects a 296.12% increase from 2019 to 2023 and 217.6% growth between 2023 and 2024.
Uzbekistan grew from $4.92B in 2019 to $8.15B in 2023 and $13.57B in 2024. Its exports rose 65.79% from 2019 to 2023 and 66.39% from 2023 to 2024.
Japan increased exports from $6.41B in 2019 to $12.46B in 2023 and $17.84B in 2024. This marks a 94.49% rise from 2019 to 2023 and 43.11% growth between 2023 and 2024.
Germany reached $15.18B in 2024, up from $10.38B in 2023 and $6.73B in 2019. Its growth was 54.22% from 2019 to 2023 and 46.27% between 2023 and 2024.
Peru exported $12.76B in 2024, rising from $8.37B in 2023 and $6.75B in 2019. This reflects a 24.04% increase from 2019 to 2023 and 52.34% growth from 2023 to 2024.
South Africa grew from $4.62B in 2019 to $6.29B in 2023 and $8.17B in 2024. Its exports rose 36.11% from 2019 to 2023 and 29.94% between 2023 and 2024.
Burkina Faso increased exports from $2.27B in 2019 to $3.51B in 2023 and $4.64B in 2024. This marks a 54.81% rise from 2019 to 2023 and 32.19% growth between 2023 and 2024.
Australia reached $23.55B in 2024, up from $18.83B in 2023 and $16.24B in 2019. Its growth was 15.92% from 2019 to 2023 and 25.11% between 2023 and 2024.
Disclaimer
These insights are based on available trade data and may not represent the full market reality.
