International Markets for Imported Gold by Country

Gold bars (Pixabay.com)

Gold bars (Pixabay)

Worldwide purchases of imported gold totaled US$269.3 billion in 2017.

Overall, the value of gold imports fell by -34.5% for all importing countries since 2013 when gold purchases were valued at $411 billion. Year over year, imports depreciated by -25.3% from 2016 to 2017.

From a continental perspective, Asian countries accounted for the highest dollar worth of imported gold during 2017 with purchases valued at $128.1 billion or 47.6% of the global total. In second place were European importers at 44.2% while 6.2% of international gold imports were delivered to North America. Smaller percentages arrived in Oceania (1.6%) and Africa (0.2%).

The 4-digit Harmonized Tariff System code prefix for gold is 7108.

Gold Imports by Country

Top 15

Below are the 15 countries that imported the highest dollar value worth of gold during 2017.

  1. Switzerland: US$69.8 billion (25.9% of total gold imports)
  2. United Kingdom: $34.4 billion (12.8%)
  3. Hong Kong: $29.4 billion (10.9%)
  4. India: $26.3 billion (9.8%)
  5. Turkey: $16.6 billion (6.2%)
  6. United Arab Emirates: $13.8 billion (5.1%)
  7. Singapore: $13.1 billion (4.9%)
  8. Thailand: $11.2 billion (4.1%)
  9. United States: $11.1 billion (4.1%)
  10. Canada: $5.5 billion (2%)
  11. Germany: $5.4 billion (2%)
  12. Australia: $4.3 billion (1.6%)
  13. Italy: $3.6 billion (1.3%)
  14. Malaysia: $3.1 billion (1.2%)
  15. Cambodia: $3 billion (1.1%)

By value, the listed 15 countries purchased 93% of all gold imports in 2017. Within parenthesis is the percentage of overall gold shipments.

Among the above countries, four markets for gold expanded since 2013 namely Cambodia (up 3,545%), Singapore (up 667.5%), United Kingdom (up 126.5%) and Turkey (up 9.6%).

Those countries that posted declines in their imported gold purchases were led by: Hong Kong (down -69.8%), United Arab Emirates (down -66.3%), Switzerland (down -41.3%) and Canada (down -41.1%).

Switzerland

Gold Imports into Switzerland

Switzerland’s global purchases of imported gold totaled US$69.8 billion in 2017. Below are the top 15 suppliers from which Switzerland imported the highest dollar value worth of gold during 2017. Within parenthesis is the percentage change in value for each supplying country since 2013.

  1. United Kingdom: US$12.6 billion (down -79.8% from 2013)
  2. Hong Kong: $7.5 billion (up 3,930%)
  3. United States: $7.2 billion (down -40.1%)
  4. United Arab Emirates: $6.6 billion (up 165.1%)
  5. Uzbekistan: $3.7 billion (up 138.8%)
  6. Thailand: $3.3 billion (up 442.3%)
  7. Peru: $2.4 billion (down -27.5%)
  8. Japan: $1.82 billion (up 992.6%)
  9. Germany: $1.77 billion (down -47.6%)
  10. Ghana: $1.7 billion (up 4.1%)
  11. France: $1.6 billion (down -64.9%)
  12. Italy: $1.35 billion (down -70%)
  13. Burkina Faso: $1.31 billion (down -1.7%)
  14. Argentina: $1.12 billion (up 154.5%)
  15. Australia: $1.11 billion (up 273.4%)

The listed 15 countries shipped 79% of all Swiss gold imports in 2017.

Among the above countries, the fastest-growing suppliers of gold to Switzerland since 2013 were: Hong Kong (up 3,930%), Japan (up 992.6%), Thailand (up 442.3%) and Australia (up 273.4%).

Countries that experienced declines in the value of their gold supplied to Swiss importers included: United Kingdom (down -79.8%), Italy (down -70%), France (down -64.9%) and Germany (down -47.6%).

Overall, the value of Swiss gold imports fell by an average -41.3% from all supplying countries since 2013 when gold purchases were valued at $118.9 billion.

UK

Gold Imports into United Kingdom

United Kingdom’s global purchases of imported gold totaled US$34.4 billion in 2017. Below are the top 15 suppliers from which the UK imported the highest dollar value worth of gold during 2017. Within parenthesis is the percentage change in value for each supplying country since 2013.

  1. Canada: US$9.5 billion (up 42.4% from 2013)
  2. United States: $4.8 billion (up 189.4%)
  3. South Africa: $4.3 billion (up 266.2%)
  4. Switzerland: $4.2 billion (up 318.7%)
  5. Hong Kong: $3 billion (up 4,163%)
  6. Australia: $2.1 billion (up 207.2%)
  7. Japan: $1.6 billion (up 449.6%)
  8. Russia: $1.2 billion (up 1,033%)
  9. Brazil: $851.5 million (up 15.6%)
  10. Germany: $647.1 million (down -41.9%)
  11. Mexico: $568.6 million (up 528.6%)
  12. Spain: $493.7 million (down -43.9%)
  13. United Arab Emirates: $479.4 million (up 2,094%)
  14. Kazakhstan: $196.2 million (no 2013 data)
  15. Turkey: $190.6 million (up 1,947%)

The listed 15 countries shipped 99% of all UK gold imports in 2017.

Among the above countries, the fastest-growing suppliers of gold to United Kingdom since 2013 were: Hong Kong (up 4,163%), United Arab Emirates (up 2,094%), Turkey (up 1,948%) and Russia (up 1,033%).

Two countries experienced declines in the value of their gold supplied to UK importers namely Spain (down -43.9%) and Germany (down -41.9%).

Overall, the value of UK gold imports appreciated by an average 126.5% from all supplying countries since 2013 when gold purchases were valued at $15.2 billion.

Hong Kong

Gold Imports into Hong Kong

Hong Kong’s global purchases of imported gold totaled US$29.4 billion in 2017. Below are the top 15 suppliers from which Hong Kong imported the highest dollar value worth of gold during 2017. Within parenthesis is the percentage change in value for each supplying country since 2013.

  1. Switzerland: US$7.9 billion (down -80.7% from 2013)
  2. Australia: $6.7 billion (down -14.6%)
  3. United States: $3.3 billion (down -62.6%)
  4. Japan: $3.2 billion (up 89.2%)
  5. China: $2.1 billion (down -87.4%)
  6. South Africa: $1.8 billion (down -74.4%)
  7. United Kingdom: $1.5 billion (down -70.9%)
  8. Philippines: $1.4 billion (up 61.4%)
  9. Singapore: $590 million (down -17.9%)
  10. Canada: $252.3 million (down -86.8%)
  11. Indonesia: $240.3 million (down -50.7%)
  12. Thailand: $165.6 million (down -86%)
  13. South Korea: $154.9 million (down -65.5%)
  14. Taiwan: $97.7 million (down -49.1%)
  15. United Arab Emirates: $74.7 million (down -92.5%)

The listed 15 countries shipped 99.95% of all Hong Kong gold imports in 2017.

Two of the above countries grew their supplies of gold to Hong Kong since 2013 namely Japan (up 89.2%) and the Philippines (up 61.4%).

Countries that experienced declines in the value of their gold supplied to Hong Kong importers included: United Arab Emirates (down -92.5%), China (down -87.4%), Canada (down -86.8%) and Thailand (down -86%).

Overall, the value of Hong Kong gold imports fell by an average -69.8% from all supplying countries since 2013 when gold purchases were valued at $97.1 billion.

India

Gold Imports into India

India’s global purchases of imported gold totaled US$26.3 billion in 2017. Below are the top 15 suppliers from which India imported the highest dollar value worth of gold during 2017. Within parenthesis is the percentage change in value for each supplying country since 2013.

  1. Switzerland: US$13.6 billion (down -38.4% from 2013)
  2. United Arab Emirates: $2.9 billion (down -60.8%)
  3. Ghana: $1.7 billion (up 4,147%)
  4. United States: $1.6 billion (up 13.8%)
  5. Peru: $1.2 billion (up 625.5%)
  6. South Africa: $1.1 billion (down -70.5%)
  7. Bolivia: $493.6 million (no 2013 data)
  8. Tanzania: $488.2 million (up 14.7%)
  9. Australia: $438.8 million (down -69.1%)
  10. Burkina Faso: $438.5 million (no 2013 data)
  11. Hong Kong: $433.4 million (up 198.6%)
  12. Dominican Republic: $421.1 million (no 2013 data)
  13. Guinea: $324.7 million (up 1,205%)
  14. Colombia: $225.2 million (up 210.3%)
  15. Brazil: $192.3 million (up 2,948%)

The listed 15 countries shipped 97.4% of all Indian gold imports in 2017.

Among the above countries, the fastest-growing suppliers of gold to India since 2013 were: Ghana (up 4,147%), Brazil (up 2,948%), Guinea (up 1,205%) and Peru (up 625.5%).

Four countries experienced declines in the value of their gold supplied to Indian importers namely South Africa (down -70.5%), Australia (down -69.1%), United Arab Emirates (down -60.8%) and Switzerland (down -38.4%).

Overall, the value of Indian gold imports fell by an average -30.2% from all supplying countries since 2013 when gold purchases were valued at $37.7 billion.



 

Searchable List of Gold Importing Countries

You can change the presentation order by clicking the triangle icon at the top of any of the columns below.

RankImporter2017 Gold Imports% World Total
1.SwitzerlandUS$69.8 billion25.9%
2.United Kingdom$34.4 billion12.8%
3.Hong Kong$29.4 billion10.9%
4.India$26.3 billion9.8%
5.Turkey$16.6 billion6.2%
6.United Arab Emirates$13.8 billion5.1%
7.Singapore$13.1 billion4.9%
8.Thailand$11.2 billion4.1%
9.United States$11.1 billion4.1%
10.Canada$5.5 billion2%
11.Germany$5.4 billion2%
12.Australia$4.3 billion1.6%
13.Italy$3.6 billion1.3%
14.Malaysia$3.1 billion1.2%
15.Cambodia$3 billion1.1%
16.Saudi Arabia$2.5 billion0.9%
17.South Korea$2.2 billion0.8%
18.Austria$1.6 billion0.6%
19.Taiwan$1.5 billion0.5%
20.Netherlands$1.2 billion0.4%
21.Indonesia$931.4 million0.3%
22.France$912.6 million0.3%
23.Belgium$817.7 million0.3%
24.Sri Lanka$649.9 million0.2%
25.Oman$630.8 million0.2%
26.Iraq$621.6 million0.2%
27.Lebanon$574.2 million0.2%
28.Jordan$511.4 million0.2%
29.Kuwait$423 million0.2%
30.South Africa$301 million0.1%
31.Nepal$262 million0.1%
32.Czech Republic$237.6 million0.1%
33.Poland$216.3 million0.1%
34.Japan$171.7 million0.1%
35.Egypt$163.8 million0.1%
36.Spain$154.1 million0.1%
37.Slovakia$148.5 million0.1%
38.Qatar$133.9 million0.05%
39.Bangladesh$118.2 million0.04%
40.Iran$114.9 million0.04%
41.Mexico$113.3 million0.04%
42.Vietnam$106.8 million0.04%
43.Philippines$94.9 million0.04%
44.Armenia$66.6 million0.02%
45.Ireland$63.3 million0.02%
46.Luxembourg$55.8 million0.02%
47.Sweden$54 million0.02%
48.Estonia$54 million0.02%
49.Slovenia$44.2 million0.02%
50.Portugal$41.3 million0.02%
51.Laos$37.5 million0.01%
52.Bahamas$35.5 million0.01%
53.Finland$30 million0.01%
54.Mauritius$28 million0.01%
55.Algeria$26.5 million0.01%
56.Hungary$26 million0.01%
57.Kazakhstan$24.4 million0.01%
58.New Zealand$22.4 million0.01%
59.Tunisia$21.2 million0.01%
60.Pakistan$20.4 million0.01%
61.Andorra$19 million0.01%
62.Denmark$17.2 million0.01%
63.Croatia$15.9 million0.01%
64.Azerbaijan$14.2 million0.01%
65.Lithuania$12.5 million0.005%
66.Ukraine$12.3 million0.005%
67.Cayman Islands$10.5 million0.004%
68.Myanmar$10.1 million0.004%
69.Morocco$9.8 million0.004%
70.Dominican Rep$9.7 million0.004%
71.Greece$9.7 million0.004%
72.Israel$9.5 million0.004%
73.Panama$8.5 million0.003%
74.Bulgaria$6.3 million0.002%
75.Latvia$6.2 million0.002%
76.Sierra Leone$6.2 million0.002%
77.Norway$6.1 million0.002%
78.Malta$5.9 million0.002%
79.Bhutan$5 million0.002%
80.Brazil$4 million0.001%
81.Brunei Darussalam$3.7 million0.001%
82.Cyprus$3.6 million0.001%
83.Russia$3.4 million0.001%
84.Ghana$1.8 million0.001%
85.Guatemala$1.7 million0.001%
86.Yemen$1.6 million0.001%
87.Macao$1.5 million0.001%
88.Senegal$1.2 million0.0004%
89.Afghanistan$1.1 million0.0004%
90.Bolivia$923,0000.0003%
91.Swaziland$889,0000.0003%
92.Curaçao$839,0000.0003%
93.Costa Rica$612,0000.0002%
94.Peru$325,0000.0001%
95.Bahrain$301,0000.0001%
96.Serbia$299,0000.0001%
97.Trinidad/Tobago$297,0000.0001%
98.Iceland$296,0000.0001%
99.French Polynesia$265,0000.0001%
100.Kyrgyzstan$258,0000.0001%
101.Cameroon$195,0000.0001%
102.Belarus$184,0000.0001%
103.Seychelles$140,0000.0001%
104.Bermuda$124,0000.00005%
105.New Caledonia$77,0000.00003%
106.Honduras$77,0000.00003%
107.Aruba$70,0000.00003%
108.Moldova$67,0000.00002%
109.Turks/Caicos Islands$58,0000.00002%
110.Congo$57,0000.00002%
111.Namibia$49,0000.00002%
112.Vanuatu$42,0000.00002%
113.Uzbekistan$34,0000.00001%
114.Papua New Guinea$31,0000.00001%
115.Chile$27,0000.00001%
116.Georgia$24,0000.00001%
117.Côte d'Ivoire$20,0000.00001%
118.Mongolia$18,0000.00001%
119.Guinea$18,0000.00001%
120.Zambia$16,0000.00001%
121.Colombia$11,0000.000004%
122.Mali$9,0000.000003%
123.Montenegro$8,0000.000003%
124.Gibraltar$8,0000.000003%
125.Fiji$5,0000.000002%
126.Saint Kitts/Nevis$5,0000.000002%
127.Nigeria$4,0000.000001%
128.Ecuador$4,0000.000001%
129.Samoa$4,0000.000001%
130.Sudan$3,0000.000001%
131.Barbados$3,0000.000001%
132.El Salvador$2,0000.000001%
133.Madagascar$2,0000.000001%
134.Uruguay$2,0000.000001%
135.Turkmenistan$2,0000.000001%
136.Macedonia$1,0000.0000004%
137.Togo$1,0000.0000004%
138.Malawi$1,0000.0000004%
139.Kenya$1,0000.0000004%
140.Cook Islands$1,0000.0000004%
141.Faroe Islands$1,0000.0000004%


See also Gold Exports by Country, Switzerland’s Top Trading Partners and Highest Value UK Import Products

Research Sources:
The World Factbook, Field Listing: Imports – Commodities, Central Intelligence Agency. Accessed on July 10, 2018

Trade Map, International Trade Centre. Accessed on July 10, 2018

Investopedia, Net Importer Definition. Accessed on July 10, 2018