Which Country Exports the Most Gold in the World?

Basic Precious Metals May 28, 2018
Author: Anna Sergeeva
Market Analyst

In 2016, approx. 20K tonnes of gold were exported worldwide; increasing by 13% against the previous year level. In general, gold exports continue to indicate a drastic decrease. The pace of growth appeared the most rapid in 2016, when it surged by 13% against the previous year level. Global gold export peaked of 46K tonnes in 2007; however, from 2008 to 2016, it failed to regain its strength.

In value terms, gold exports stood at $320B in 2016. Overall, it indicated a remarkable expansion from 2007 to 2016: the total exports value decreased at an average annual rate of -8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2016, gold exports increased by +16.6% against its level of 2014. Global gold export peaked of $370B in 2012; however, from 2013 to 2016, it failed to regain its strength.

Top Gold Exporting Countries in the World

1. Switzerland (82.3 billion USD)

2. China, Hong Kong SAR (54.1 billion USD)

3. USA (17.7 billion USD)

4. United Arab Emirates (16.5 billion USD)

5. Australia (13.5 billion USD)

6. Canada (12.5 billion USD)

7. Peru (6.4 billion USD)

8. Mexico (4.9 billion USD)

9. Argentina (2.0 billion USD)

10. Spain (1.4 billion USD)

11. Philippines (0.6 billion USD)

12. Croatia (0.0 billion USD)

Gold Exports By Country

The exports of the four major exporters of gold, namely the Philippines, Mexico, Spain, and Switzerland, represented more than half of total export. It was distantly followed by China, Hong Kong SAR (1.3K tonnes), making up 7% share of total gold exports. United Arab Emirates (514 tonnes), the U.S. (452 tonnes), Peru (449 tonnes), Argentina (447 tonnes), Croatia (378 tonnes), Australia (348 tonnes), and Canada (328 tonnes) occupied the minor share of total exports.

From 2007 to 2016, the most notable growth rate of gold exports, among the main exporting countries, was attained by Spain (+64.3% per year), while the other global leaders experienced more modest paces of growth.

In value terms, Switzerland ($82B), China, Hong Kong SAR ($54B) and the U.S. ($18B) appeared as the countries with the highest levels of exports in 2016, together comprising 48% of global exports. These countries were followed by United Arab Emirates, Australia, Canada, Peru, Mexico, Argentina, Spain, the Philippines and Croatia, which together accounted for a further 18%.

Spain (+38.9% per year) experienced the highest growth rate of gold exports, in terms of the main exporting countries, over the last 9 years, while the other global leaders experienced more modest paces of growth.

Gold Export Prices By Country

The average gold export price stood at $16K per kg in 2016, approximately reflecting the previous year level. Overall, gold export price continues to indicate a strong increase. The pace of growth was the most pronounced in 2011, when export increased by 51% y-o-y. Global gold export peaked of $17K per kg in 2012; however, from 2013 to 2016, it failed to regain its strength.

Export prices varied noticeably by country of destination. the country with the highest export prices was China, Hong Kong SAR ($40K per kg), while Croatia ($92 per kg) was among the lowest.

From 2007 to 2016, the most notable growth rate of gold export prices was attained by the Philippines (+43.6% per year), while the other global leaders experienced more modest paces of growth.

Do you want to know more about global gold market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • gold market share
  • gold prices
  • gold industry
  • gold sales
  • gold import
  • gold export
  • gold market forecast
  • gold price forecast
  • key gold producers

All data provided in this article covers the following product: HS Code 7108 - Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form.

Source: World: Gold Including Gold Plated With Platinum - Market Report. Analysis and Forecast to 2025