Which Country Imports the Most Gold Ores in the World?

Uranium And Thorium Ores May 28, 2018
Author: Anna Sergeeva
Market Analyst

Which Country Imports the Most Gold Ores in the World?

IndexBox has just published a new report "World: Gold Ores And Concentrates - Market Report. Analysis and Forecast to 2025". Here is a summary of the report's key findings.

In 2016, approx. 1.9M tonnes of gold ore were imported worldwide- jumping by 16% against the previous year level. Overall, gold ore imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2012, when it surged by 70% from the previous year level. Over the period under review, global gold ore imports attained its maximum volume in 2016, and are likely to see steady growth in the immediate term.

In value terms, gold ore imports stood at $6.2B in 2016. Overall, gold ore imports continue to indicate a strong expansion. Over the period under review, global gold ore imports attained its maximum level in 2016, and are expected to retain its growth in the immediate term.

Top Gold Ore Importing Countries in the World

1. China (2,608.0 million USD)

2. Germany (678.6 million USD)

3. Japan (368.0 million USD)

4. South Korea (279.8 million USD)

5. Canada (277.8 million USD)

6. Philippines (255.8 million USD)

7. Kazakhstan (198.0 million USD)

Gold Ore Imports By Country

China (1.4M tonnes) prevails in gold ore imports structure, finishing at 1.4M tonnes, which was near 74% of total imports in 2016. It was distantly followed by Kazakhstan (123K tonnes), constituting 7% share of total gold ore imports. The following importers - Japan (75K tonnes), the Philippines (70K tonnes), Canada (41K tonnes), South Korea (39K tonnes), and Germany (36K tonnes) together made up 14% of total imports.

Imports into China increased at an average annual rate of +14.8% from 2007 to 2016. At the same time, Kazakhstan (+178.2%), the Philippines (+144.7%), Germany (+37.2%), South Korea (+17.9%), and Japan (+8.3%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest growing importer/exporter in the world, with a CAGR of +178.2% from 2007-2016. By contrast, Canada (-14.1%) illustrated a downward trend over the same period. From 2007 to 2016, the share of Canada increased by 6% percentage points, while South Korea (-1.6%), Germany (-1.8%), Japan (-2.0%), the Philippines (-3.7%), Kazakhstan (-6.5%), and China (-52.5%) saw their share reduced.

In value terms, China ($2.6B) constitutes the largest market for imported gold ore worldwide, making up 42% of global imports. The second position in the ranking was occupied by Germany ($679M), with the share of 11% of global imports. It was followed by Japan, with the share of 6%.

From 2007 to 2016, the average annual growth rate of value of gold ore imports in China stood at +26.5%. The remaining importing countries recorded the following average annual rates: Germany (+5.7% per year) and Japan (+10.5% per year).

Gold Ore Import Prices By Country

In 2016, the average import price for gold ore amounted to $3,275 per tonne, approximately reflecting the previous year level. In general, gold ore import price continues to indicate a slight setback. The most prominent rate of growth was recorded in 2008, when it surged by 83% against the previous year level. Over the period under review, average gold ore import price reached its maximum level of $9,546 per tonne in 2011- however, from 2012 to 2016, it stood at a somewhat lower level.

Import prices varied noticeably by country of destination. the country with the highest import prices was Germany ($19 per kg), while Kazakhstan ($1,610 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of gold ore import prices was attained by Canada (+37.1% per year), while the other global leaders experienced more modest paces of growth.

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

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

All data provided in this article covers the following product: HS Code 2616 - Precious metal ores and concentrates.

Source: World: Gold Ores And Concentrates - Market Report. Analysis and Forecast to 2025