Year over year, the value of globally imported gold declined by -2.1% from $403.6 billion in 2020.
The world’s 5 biggest importers of gold in 2021 were Switzerland, India, United Kingdom, China and Hong Kong. Collectively, that cohort of major gold buyers bought well over two-thirds (69.5%) of the world total for the shiny precious metal.
From a continental perspective, Asian countries bought the highest dollar amount of imported gold during 2021 with purchases valued at $191.6 billion or 48.6% of the global total.
In second place were European importers at 44.5% of overall gold imports. Imports to the 27-member European Union represents a much lower percentage (7.4%) because leading gold importers Switzerland and the United Kingdom are not EU members.
Another 5.2% of international gold purchases were delivered to importers in North America.
Tinier percentages arrived in Oceania (1.3%) led by Australia, Africa (0.4%) and Latin America (0.1%) excluding Mexico but including the Caribbean.
For research purposes, the 4-digit Harmonized Tariff System code prefix for gold is 7108.
Gold Imports by Country
Below are the 15 countries that imported the highest dollar value worth of gold during 2021.
- Switzerland: US$92.3 billion (23.4% of total gold imports)
- India: $55.8 billion (14.1%)
- United Kingdom: $53.7 billion (13.6%)
- China: $43.7 billion (11.1%)
- Hong Kong: $29.1 billion (7.4%)
- Singapore: $14.5 billion (3.7%)
- United States: $13.9 billion (3.5%)
- Germany: $11 billion (2.8%)
- United Arab Emirates: $10.6 billion (2.7%)
- Thailand: $8.4 billion (2.1%)
- Italy: $7.5 billion (1.9%)
- Canada: $6.5 billion (1.7%)
- Cambodia: $5.9 billion (1.5%)
- Turkey: $5.5 billion (1.4%)
- Austria: $5.1 billion (1.3%)
By value, the listed 15 countries purchased 92% of all gold imported in 2021.
Among the above countries, the fastest-growing markets for gold since 2020 were: Cambodia (up 468.4%), China (up 282.7%), India (up 154.5%) and Austria (up 99.6%).
Those countries that posted declines in their imported gold purchases were led by: Turkey (down -78.2%), United Arab Emirates (down -71.6%), United States of America (down -59.9%) and United Kingdom (down -39.2%).
For a comprehensive listing of 100 key international markets for gold, please see the section Searchable List of Gold Importing Countries below.
Gold Imports into Switzerland
Switzerland’s global purchases of imported gold totaled US$92.3 billion in 2021. Below are the top 15 suppliers from which Switzerland imported the highest dollar value worth of gold during 2021.
Within parenthesis is the percentage change in value for each supplying country from 2020 to 2021.
- United Kingdom: US$30.8 billion (up 190.5% from 2020)
- United States of America: $9.1 billion (up 37.8%)
- United Arab Emirates: $7.4 billion (down -7%)
- South Africa: $3.6 billion (up 112.1%)
- Burkina Faso: $3.4 billion (up 4.5%)
- Italy: $2.6 billion (down -48%)
- Hong Kong: $2.5 billion (down -75.7%)
- Canada: $2.4 billion (up 134.5%)
- Uzbekistan: $2.36 billion (2020 data unavailable)
- Ghana: $2.35 billion (down -21.3%)
- Peru: $2.1 billion (up 25.1%)
- Germany: $1.5 billion (down -54.8%)
- Mali: $1.4 billion (down -9.5%)
- Australia: $1.3 billion (down -20.8%)
- Kyrgyzstan: $1.2 billion (2020 data unavailable)
By value, the listed 15 countries shipped 80.2% of gold imported by Switzerland in 2021.
Among the above countries, the fastest-growing suppliers of gold to Switzerland from 2020 to 2021 were: United Kingdom (up 190.5%), Canada (up 134.5%), South Africa (up 112.1%) and United States of America (up 37.8%).
Countries that experienced declines in the value of their gold supplied to Swiss importers included: Hong Kong (down -75.7%), Germany (down -54.8%), Italy (down -48%) and Ghana (down -21.3%).
Overall, the value of Switzerland’s imported gold posted an average 5% uptick from all supplying countries since 2020 when gold purchased on international markets cost $87.9 billion.
Gold Imports into India
India’s global purchases of imported gold totaled US$55.8 billion in 2021. Below are the top 15 suppliers from which India imported the highest dollar value worth of gold during 2021.
Within parenthesis is the percentage change in value for each supplying country from 2020 to 2021.
- Switzerland: US$27 billion (up 186.8% from 2020)
- United Arab Emirates: $7 billion (up 177.1%)
- South Africa: $4.1 billion (up 190.4%)
- Guinea: $3.2 billion (up 288.3%)
- Peru: $2.3 billion (up 71.6%)
- Bolivia: $2 billion (up 92.7%)
- Singapore: $1.6 billion (up 324.3%)
- United States of America: $1.3 billion (up 72.4%)
- Australia: $1.1 billion (up 386.3%)
- Ghana: $988.2 million (up 15.9%)
- Brazil: $652 million (up 171.9%)
- Dominican Republic: $614.8 million (up 246.3%)
- Argentina: $538.1 million (up 107.8%)
- Colombia: $521.1 million (up 37.9%)
- Tanzania: $500.4 million (up 214.7%)
By value, the listed 15 countries shipped 94.5% of gold imported by India in 2021.
Among the above countries, the fastest-growing suppliers of gold to India from 2020 to 2021 were: Australia (up 386.3%), Singapore (up 324.3%), Guinea (up 288.3%) and Dominican Republic (up 246.3%).
The mildest increase in the value of its gold supplied to Indian importers was Ghana via its 15.9% gain.
Overall, the value of India’s imported gold accelerated by an average 154.5% from all supplying countries since 2020 when gold purchased on international markets cost $21.9 billion.
Gold Imports into the United Kingdom
The United Kingdom’s global purchases of imported gold totaled US$53.7 billion in 2021. Below are the top 15 suppliers from which the UK imported the highest dollar value worth of gold during 2021.
Within parenthesis is the percentage change in value for each supplying country from 2020 to 2021.
- Russia: US$15.2 billion (down -10.6% from 2020)
- Canada: $9.8 billion (down -12.9%)
- United States of America: $8.5 billion (down -29.4%)
- Switzerland: $4 billion (down -47.4%)
- Kazakhstan: $3.5 billion (up 3479.8%)
- South Africa: $2.5 billion (down -26.5%)
- Uzbekistan: $1.8 billion (down -70.4%)
- Mexico: $1.6 billion (up 14.2%)
- Spain: $1.3 billion (up 74.1%)
- Australia: $1 billion (down -87.1%)
- Brazil: $870.6 million (up 7.7%)
- Turkey: $819 million (down -45.4%)
- Japan: $645 million (down -63.8%)
- Hong Kong: $559.8 million (down -95.5%)
- Sweden: $445.3 million (down -7%)
By value, the listed 15 countries shipped 97.7% of gold imported by the United Kingdom in 2021.
Among the above countries, the growth suppliers of gold to United Kingdom from 2020 to 2021 were: Kazakhstan (up 3,480%), Spain (up 74.1%), Mexico (up 14.2%) and Brazil (up 7.7%).
Countries that experienced declines in the value of their gold supplied to UK importers included: Hong Kong (down -95.5%), Australia (down -87.1%), Uzbekistan (down -70.4%) and Japan (down -63.8%).
Overall, the value of United Kingdom’s imported gold fell by an average -39.2% from all supplying countries since 2020 when gold purchased on international markets cost $88.3 billion.
Gold Imports into China
China’s global purchases of imported gold totaled US$43.7 billion in 2021. Below are the top 15 suppliers from which China imported the highest dollar value worth of gold during 2021.
Within parenthesis is the percentage change in value for each supplying country from 2020 to 2021.
- Switzerland: US$20 billion (up 348.1% from 2020)
- Australia: $8 billion (up 607.8%)
- South Africa: $4.7 billion (up 319.1%)
- Hong Kong: $3.2 billion (up 146.3%)
- Singapore: $2 billion (down -12.3%)
- Canada: $1.6 billion (up 21318.7%)
- Japan: $1.1 billion (up 293.3%)
- Germany: $663.9 million (up 147.3%)
- Russia: $226.5 million (up 425.1%)
- United Arab Emirates: $192.4 million (up 539.9%)
- Tajikistan: $97.7 million (2020 data unavailable)
- Taiwan: $83.9 million (up 137.2%)
- South Korea: $69.1 million (up 24.9%)
- Uzbekistan: $40.1 million (2020 data unavailable)
- Italy: $38.4 million (up 32.6%)
By value, the listed 15 countries shipped 96% of gold imported by China in 2021.
Among the above countries, the fastest-growing suppliers of gold to China from 2020 to 2021 were: Canada (up 21,319%), Australia (up 607.8%), United Arab Emirates (up 539.9%) and Russia (up 425.1%).
Singapore was the lone top supplier to experience a decline in the value of gold supplied to Chinese importers via its -12.3% drop year over year.
Overall, the value of China’s imported gold spiked by an average 282.7% from all supplying countries since 2020 when gold purchased on international markets cost $11.4 billion.
Searchable List of Gold Importing Countries in 2021
Presented in the following database are the 100 most valuable importers of gold during 2021 sorted by total dollar value of gold imports during 2021.
| Rank | Importer | Gold Imports (US$) | 2020-1 |
|---|---|---|---|
| 1. | Switzerland | $92,337,879,000 | +5% |
| 2. | India | $55,782,958,000 | +154.5% |
| 3. | United Kingdom | $53,720,877,000 | -39.2% |
| 4. | China | $43,696,970,000 | +282.7% |
| 5. | Hong Kong | $29,138,739,000 | +54.4% |
| 6. | Singapore | $14,479,450,000 | -13% |
| 7. | United States | $13,891,967,000 | -59.9% |
| 8. | Germany | $11,029,900,000 | +33.9% |
| 9. | United Arab Emirates | $10,588,270,000 | -71.6% |
| 10. | Thailand | $8,368,646,000 | +65.7% |
| 11. | Italy | $7,489,319,000 | -22.9% |
| 12. | Canada | $6,532,487,000 | -25% |
| 13. | Cambodia | $5,940,436,000 | +468.4% |
| 14. | Turkey | $5,498,632,000 | -78.2% |
| 15. | Austria | $5,108,864,000 | +99.6% |
| 16. | Australia | $4,893,071,000 | -22.8% |
| 17. | Malaysia | $4,210,469,000 | +86.9% |
| 18. | Saudi Arabia | $3,683,663,000 | +215.5% |
| 19. | Indonesia | $2,681,663,000 | +41% |
| 20. | South Korea | $2,569,755,000 | +183.6% |
| 21. | Taiwan | $2,224,915,000 | +12.4% |
| 22. | France | $1,546,772,000 | +25.5% |
| 23. | Spain | $1,116,600,000 | +319.7% |
| 24. | Egypt | $797,037,000 | +486.2% |
| 25. | Jordan | $550,713,000 | +314.6% |
| 26. | Czech Republic | $509,964,000 | +53.9% |
| 27. | Belgium | $487,875,000 | -36.5% |
| 28. | South Africa | $481,293,000 | +8.6% |
| 29. | Netherlands | $476,950,000 | -14.2% |
| 30. | Poland | $399,865,000 | +108.3% |
| 31. | Kazakhstan | $365,750,000 | +9.5% |
| 32. | Japan | $298,521,000 | +10.9% |
| 33. | Laos | $260,142,000 | +105649% |
| 34. | Qatar | $253,515,000 | +27.5% |
| 35. | Vietnam | $238,710,000 | +10.5% |
| 36. | Slovenia | $213,130,000 | +93.3% |
| 37. | Estonia | $188,572,000 | +48% |
| 38. | Dominican Republic | $170,725,000 | +76.9% |
| 39. | Lebanon | $168,295,000 | -71.3% |
| 40. | Mauritania | $138,667,000 | +6933250% |
| 41. | New Zealand | $126,305,000 | +0% |
| 42. | Ukraine | $118,319,000 | +31.3% |
| 43. | Hungary | $116,905,000 | +105.6% |
| 44. | Mexico | $113,670,000 | +11.4% |
| 45. | Slovakia | $98,910,000 | +23.5% |
| 46. | Philippines | $93,692,000 | +6.3% |
| 47. | Azerbaijan | $91,957,000 | +9195600% |
| 48. | Israel | $90,067,000 | +445.7% |
| 49. | Armenia | $90,039,000 | +271.7% |
| 50. | Luxembourg | $77,644,000 | -24.5% |
| 51. | Nepal | $73,117,000 | -48.3% |
| 52. | Sweden | $69,505,000 | -12.8% |
| 53. | Finland | $67,533,000 | -6% |
| 54. | Croatia | $65,731,000 | +83.9% |
| 55. | Bangladesh | $65,563,000 | -83.5% |
| 56. | Portugal | $56,381,000 | +10.1% |
| 57. | Denmark | $50,368,000 | +123.7% |
| 58. | Bulgaria | $45,305,000 | +83.9% |
| 59. | Serbia | $43,091,000 | +26.9% |
| 60. | Ireland | $36,147,000 | -18.2% |
| 61. | Kuwait | $28,906,000 | -93.3% |
| 62. | Lithuania | $23,899,000 | +105.8% |
| 63. | Mauritius | $22,527,000 | +60.9% |
| 64. | Cyprus | $22,345,000 | +329.7% |
| 65. | Iraq | $21,870,000 | -93.7% |
| 66. | Costa Rica | $20,584,000 | +1934% |
| 67. | Latvia | $20,017,000 | +28.8% |
| 68. | Russia | $19,313,000 | -19.3% |
| 69. | Tunisia | $19,292,000 | -37.2% |
| 70. | Myanmar | $17,116,000 | +34132% |
| 71. | Haiti | $17,102,000 | 0% |
| 72. | Morocco | $16,887,000 | +76659.1% |
| 73. | Andorra | $16,674,000 | +340.1% |
| 74. | Cayman Islands | $16,057,000 | -72.8% |
| 75. | Pakistan | $15,084,000 | +112.8% |
| 76. | Oman | $14,291,000 | -94.2% |
| 77. | Greece | $13,638,000 | +119.2% |
| 78. | Macao | $13,073,000 | +10.7% |
| 79. | Uzbekistan | $11,648,000 | -53.9% |
| 80. | Norway | $7,623,000 | +5.9% |
| 81. | Algeria | $6,188,000 | -45.9% |
| 82. | Uganda | $5,601,000 | -99.7% |
| 83. | Iran | $5,265,000 | 0% |
| 84. | Brazil | $4,794,000 | +16.1% |
| 85. | Malta | $4,180,000 | -6.6% |
| 86. | Togo | $4,018,000 | +10474% |
| 87. | Nicaragua | $3,547,000 | +402.4% |
| 88. | Brunei Darussalam | $2,855,000 | 0% |
| 89. | Panama | $2,465,000 | -5.2% |
| 90. | Bhutan | $1,680,000 | +236.7% |
| 91. | Sri Lanka | $1,338,000 | -84.5% |
| 92. | Uruguay | $1,255,000 | +6872% |
| 93. | Guatemala | $1,223,000 | +25.4% |
| 94. | Chad | $902,000 | +292.2% |
| 95. | Iceland | $759,000 | +14.1% |
| 96. | Trinidad/Tobago | $707,000 | +41.7% |
| 97. | Mali | $637,000 | +311% |
| 98. | Bolivia | $465,000 | +45.3% |
| 99. | North Macedonia | $439,000 | +3558% |
| 100. | El Salvador | $421,000 | +13933% |
You can change the presentation order by clicking the triangle icon at the top of any of the columns below. The right-most column showcases the percentage change in value of imported gold from 2017 to 2021. A value of 0% in that column means that 2020 data was unavailable for the corresponding country.
Main Importers of Gold Ranked by Shipment Weight
Listed below is the physical volume of gold imports by ton for the 15 biggest buyers of gold on international markets.
- Switzerland: 2,208 tons of imported gold (up 2.1% from 2020)
- India: 1,068 tons (up 148.4%)
- United Kingdom: 927 tons (down -38.5%)
- China: 759 tons (up 256.3%)
- Hong Kong: 523 tons (up 46.1%)
- Canada: 282 tons (up 15.6%)
- United Arab Emirates: 264 tons (down -64.4%)
- Singapore: 257 tons (down -13.5%)
- United States: 250 tons (down -60.8%)
- Germany: 190 tons (up 26.7%)
- Italy: 182 tons (down -24.5%)
- Indonesia: 162 tons (up 131.4%)
- Thailand: 151 tons (up 13.5%)
- Turkey: 121 tons (down -75.9%)
- Cambodia: 103 tons (up 442.1%)
Registering triple-digit gains were gold importers in Cambodia (up 442.1% since 2020), China (up 256.3%), India (up 148.4%) and Indonesia (up 131.4%).
Leading the decliners year over year were gold buyers in Turkey (down -75.9%), United Arab Emirates (down -64.4%), United States of America (down -60.8%), United Kingdom (down -38.5%) and Italy (down -24.5%).
Average Prices Paid by Major Gold Importers
The average price for globally imported gold was US$49.071 million per ton. That dollar metric results from a 40% increase from $35.057 million per ton in 2017 and a 4.7% uptick from $46.864 million per ton one year earlier in 2020.
- Switzerland: US$41,819,692 per ton of imported gold (up 2.8% from 2020)
- India: $52,231,234 per ton (up 2.5%)
- United Kingdom: $57,951,324 per ton (down -1.1%)
- China: $57,571,765 per ton (up 7.4%)
- Hong Kong: $55,714,606 per ton (up 5.7%)
- Singapore: $56,340,272 per ton (up 0.6%)
- United States of America: $55,567,868 per ton (up 2%)
- Germany: $58,052,105 per ton (up 5.7%)
- United Arab Emirates: $40,107,083 per ton (down -20.1%)
- Thailand: $55,421,497 per ton (up 45.9%)
- Italy: $41,150,104 per ton (up 2.1%)
- Canada: $23,164,848 per ton (down -35.1%)
- Cambodia: $57,674,136 per ton (up 4.9%)
- Turkey: $45,443,240 per ton (down -9.2%)
- Austria: $57,402,966 per ton (up 0.9%)
Lowest average prices per ton were paid by major gold importers in Canada ($23.165 million), United Arab Emirates ($40.107 million), Italy ($41.15 million) and the world-leading gold importer which is Switzerland ($41.82 million).
The costliest charges per ton for imported gold were incurred by international buyers in Germany ($58.052 million), United Kingdom ($57.951 million), Cambodia ($57.674 million) and China ($57.572 million).
See also Gold Exports by Country, Switzerland’s Top Trading Partners, China’s Top 10 Imports, India’s Top 10 Imports and United Kingdom’s Top 10 Imports
Research Sources:
Central Intelligence Agency, The World Factbook Field Listing: Imports – Commodities. Accessed on June 11, 2022
International Trade Centre, Trade Map. Accessed on June 11, 2022
Investopedia, Net Exports Definition. Accessed on June 11, 2022
Wikipedia, Gold. Accessed on June 11, 2022
