Year over year, the value of globally imported gold flatlined via a -1.2% slowdown compared to $441.8 billion in 2021.
The world’s 5 biggest importers of gold in 2022 were Switzerland, mainland China, United Kingdom, Hong Kong and India. Collectively, that cohort of major gold buyers bought roughly two-thirds (66.8%) of the world total for the shiny precious metal.
From a continental perspective, Asian countries bought the highest dollar amount of imported gold during 2022 with purchases valued at $239.7 billion or 55% of the global total.
In second place were European importers at 39.4% of overall imported gold purchases. Imports to the 27-member European Union represents a much lower percentage (7.2%) because leading gold importers Switzerland and the United Kingdom are not EU members.
Another 4.1% of international gold purchases was delivered to importers in North America.
Tinier percentages arrived in Oceania (1.1%) led by Australia, Africa (0.3%), 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 2022.
- Switzerland: US$98.5 billion (22.6% of total gold imports)
- China: $76.7 billion (17.6%)
- United Kingdom: $42 billion (9.6%)
- Hong Kong: $38 billion (8.7%)
- India: $36.6 billion (8.4%)
- Türkiye: $20.4 billion (4.7%)
- Singapore: $17.7 billion (4.1%)
- United Arab Emirates: $15.5 billion (3.5%)
- Thailand: $11.4 billion (2.6%)
- Germany: $10.6 billion (2.4%)
- United States: $9.6 billion (2.2%)
- Canada: $8.1 billion (1.9%)
- Italy: $7.2 billion (1.6%)
- Austria: $6.4 billion (1.5%)
- Australia: $4.8 billion (1.1%)
By value, the listed 15 countries purchased 92.5% of all gold imported in 2022.
Among the above countries, the fastest-growing markets for gold since 2021 were: Türkiye (up 271.7%), mainland China (up 62.1%), Thailand (up 35.8%) and Hong Kong (up 30.5%).
Those countries that posted declines in their imported gold purchases were led by: United Arab Emirates (down -67.9%), India (down -34.4%), United States of America (down -30.8%) and the United Kingdom (down -21.9%).
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$98.5 billion in 2022. Below are the top 15 suppliers from which Switzerland imported the highest dollar value worth of gold during 2022.
Within parenthesis is the percentage change in value for each supplying country from 2021 to 2022.
- United States: US$20.6 billion (up 126% from 2021)
- United Kingdom: $8.8 billion (down -71.5%)
- United Arab Emirates: $8.2 billion (up 10.6%)
- Canada: $5.8 billion (up 141.6%)
- South Africa: $5.2 billion (up 42.5%)
- Uzbekistan: $3.9 billion (up 66.4%)
- Philippines: $3.5 billion (up 664.7%)
- Ghana: $3.3 billion (up 39.3%)
- Burkina Faso: $3 billion (down -10.4%)
- Australia: $2.7 billion (up 98.5%)
- Kazakhstan: $2.6 billion (up 183,001%)
- Thailand: $2.4 billion (up 272%)
- Peru: $2.3 billion (up 9.7%)
- Hong Kong: $2.2 billion (down -12.1%)
- Germany: $1.8 billion (up 25%)
By value, the listed 15 countries shipped 77.5% of gold imported by Switzerland in 2022.
Among the above countries, the fastest-growing suppliers of gold to Switzerland from 2021 to 2022 were: Kazakhstan (up 183,001%), Philippines (up 664.7%), Thailand (up 272%) and Canada (up 141.6%).
Countries that experienced declines in the value of their gold supplied to Swiss importers were: United Kingdom (down -71.5%), Hong Kong (down -12.1%), Burkina Faso (down -10.4%).
Overall, the value of Switzerland’s imported gold rose an average 6.2% from all supplying countries since 2021 when gold purchased on international markets cost $92.7 billion.
Gold Imports into China
Mainland China’s global purchases of imported gold totaled US$76.7 billion in 2022. Below are the top 15 suppliers from which China imported the highest dollar value worth of gold during 2022.
Within parenthesis is the percentage change in value for each supplying country from 2021 to 2022.
- Switzerland: US$34.1 billion (up 58.7% from 2021)
- Canada: $14.7 billion (up 794.7%)
- South Africa: $8.9 billion (up 75.4%)
- Australia: $8.3 billion (down -6.8%)
- Hong Kong: $3.1 billion (down -11.2%)
- Japan: $1.8 billion (up 50.4%)
- mainland China: $1.5 billion (up 9.8%)
- Singapore: $1.4 billion (down -32.3%)
- Germany: $1 billion (up 32%)
- Russia: $386.9 million (up 63.3%)
- United Arab Emirates: $191.8 million (down -9.9%)
- Taiwan: $166.2 million (up 76.4%)
- Tajikistan: $153.7 million (up 29.6%)
- Mexico: $114 million (up 213.5%)
- Uzbekistan: $112.8 million (up 180.8%)
By value, the listed 15 countries shipped 98.9% of gold imported by China in 2022.
Among the above countries, the fastest-growing suppliers of gold to China from 2021 to 2022 were: Canada (up 794.7%), Mexico (up 213.5%), Uzbekistan (up 180.8%) and Taiwan (up 76.4%).
Four top suppliers experienced declines in the value of their gold supplied to Chinese importers namely: Singapore (down -32.3%), Hong Kong (down -11.2%), United Arab Emirates (down -9.9%) and Australia (down -6.8%).
Overall, the value of China’s imported gold accelerated by an average 62.1% from all supplying countries since 2021 when gold purchased on international markets cost $47.3 billion.
Gold Imports into the United Kingdom
The United Kingdom’s global purchases of imported gold totaled US$42 billion in 2022. Below are the top 15 suppliers from which the UK imported the highest dollar value worth of gold during 2022.
Within parenthesis is the percentage change in value for each supplying country from 2021 to 2022.
- Canada: US$10.4 billion (up 6.8% from 2021)
- United States of America: $7 billion (down -18%)
- Kazakhstan: $6.6 billion (up 90.2%)
- Philippines: $3.4 billion (2021 data unavailable)
- Switzerland: $2.8 billion (down -28.5%)
- Russia: $2.3 billion (down -85.1%)
- France: $2 billion (up 253429.9%)
- Mexico: $1.5 billion (down -5.7%)
- Spain: $1.4 billion (up 3.5%)
- Brazil: $760.8 million (down -12.6%)
- Japan: $730.9 million (up 13.2%)
- Germany: $680.5 million (up 115.4%)
- Austria: $649.8 million (up 205.6%)
- Uzbekistan: $624.4 million (down -64.7%)
- Sweden: $585.5 million (up 31.4%)
By value, the listed 15 countries shipped 98.7% of gold imported by the United Kingdom in 2022.
Among the above countries, the fastest-growing suppliers of gold to the United Kingdom from 2021 to 2022 were: France (up 253,430%), Austria (up 205.6%), Germany (up 115.4%) and Kazakhstan (up 90.2%).
Countries that experienced declines in the value of their gold supplied to UK importers included: Russia (down -85.1%), Uzbekistan (down -64.7%), Switzerland (down -28.5%) and the United States of America (down -18%).
Overall, the value of United Kingdom’s imported gold fell by an average -21.9% from all supplying countries since 2021 when gold purchased on international markets cost $53.7 billion.
Gold Imports into Hong Kong
Hong Kong’s global purchases of imported gold totaled US$38 billion in 2022. Below are the top 15 suppliers from which India imported the highest dollar value worth of gold during 2022.
Within parenthesis is the percentage change in value for each supplying country from 2021 to 2022.
- United Kingdom: US$9.2 billion (up 2,252% from 2021)
- United Arab Emirates: $6 billion (down -7.9%)
- Japan: $4.3 billion (up 84.3%)
- Australia: $4 billion (up 47.1%)
- Switzerland: $3.1 billion (down -43.7%)
- China: $2.7 billion (down -4%)
- Canada: $2.3 billion (up 23.1%)
- United States of America: $1.4 billion (down -56.7%)
- Taiwan: $802 million (up 59.7%)
- Thailand: $661.3 million (up 49.1%)
- South Africa: $599.8 million (down -5.8%)
- Russia: $578.6 million (up 581.8%)
- Philippines: $461.7 million (up 130.6%)
- South Korea: $336.6 million (up 48.9%)
- Uganda: $305.4 million (2021 data unavailable)
By value, the listed 15 countries shipped 86.4% of gold imported by Hong Kong in 2022.
Among the above countries, the fastest-growing suppliers of gold to Hong Kong from 2021 to 2022 were: United Kingdom (up 2,252%), Russia (up 581.8%), Philippines (up 130.6%) and Japan (up 84.3%).
Countries that experienced declines in the value of their gold supplied to Hong Kong’s importers included: United States of America (down -56.7%), Switzerland (down -43.7%), United Arab Emirates (down -7.9%) and South Africa (down -5.8%).
Overall, the value of Hong Kong’s imported gold increased by an average 30.5% from all supplying countries since 2021 when gold purchased on international markets cost $29.1 billion.
Searchable List of Gold Importing Countries in 2022
Presented in the following database are the 100 most valuable importers of gold during 2022 sorted by total dollar value of gold imports during 2022.
| Rank | Importer | Gold Imports | 2021-2 |
|---|---|---|---|
| 1. | Switzerland | $98,489,745,000 | +6.2% |
| 2. | China | $76,653,548,000 | +62.1% |
| 3. | United Kingdom | $41,992,036,000 | -21.9% |
| 4. | Hong Kong | $38,016,504,000 | +30.5% |
| 5. | India | $36,574,558,000 | -34.4% |
| 6. | Türkiye | $20,440,074,000 | +271.7% |
| 7. | Singapore | $17,722,633,000 | +22.4% |
| 8. | United Arab Emirates | $15,484,420,000 | -67.9% |
| 9. | Thailand | $11,364,620,000 | +35.8% |
| 10. | Germany | $10,626,575,000 | -3.8% |
| 11. | United States | $9,612,186,000 | -30.8% |
| 12. | Canada | $8,112,076,000 | +24.2% |
| 13. | Italy | $7,162,456,000 | -4.4% |
| 14. | Austria | $6,409,125,000 | +23.8% |
| 15. | Australia | $4,833,528,000 | -1.2% |
| 16. | Cambodia | $4,481,168,000 | -24.6% |
| 17. | Malaysia | $3,877,435,000 | -7.9% |
| 18. | Indonesia | $3,519,420,000 | +31.2% |
| 19. | Saudi Arabia | $2,828,885,000 | -23.2% |
| 20. | Taiwan | $1,988,121,000 | -10.6% |
| 21. | France | $1,974,730,000 | +27.6% |
| 22. | Jordan | $1,477,687,000 | +33.5% |
| 23. | South Korea | $1,158,144,000 | -54.9% |
| 24. | Lebanon | $1,035,427,000 | +55.5% |
| 25. | Spain | $837,529,000 | -25% |
| 26. | Belgium | $685,494,000 | +39.8% |
| 27. | Poland | $634,326,000 | +58.6% |
| 28. | Czech Republic | $539,590,000 | +8.9% |
| 29. | South Africa | $468,410,000 | -2.7% |
| 30. | Netherlands | $437,364,000 | -18.6% |
| 31. | Free Zones | $405,984,000 | -24% |
| 32. | Bahrain | $405,381,000 | +56.6% |
| 33. | Qatar | $402,171,000 | -10.7% |
| 34. | Nepal | $396,048,000 | +21.8% |
| 35. | Laos | $332,472,000 | +24.4% |
| 36. | Slovenia | $331,204,000 | +55% |
| 37. | Dominican Republic | $321,479,000 | +88.3% |
| 38. | Egypt | $301,843,000 | -62.1% |
| 39. | Slovakia | $286,224,000 | +455.9% |
| 40. | Japan | $275,032,000 | -7.9% |
| 41. | Hungary | $258,884,000 | +116% |
| 42. | Bangladesh | $251,202,000 | -14.3% |
| 43. | Kazakhstan | $249,097,000 | -32% |
| 44. | Croatia | $246,949,000 | +276.9% |
| 45. | Vietnam | $237,148,000 | -7.6% |
| 46. | Armenia | $233,799,000 | +159.7% |
| 47. | Estonia | $172,862,000 | -8.3% |
| 48. | Mali | $169,492,000 | +26508% |
| 49. | Serbia | $128,161,000 | +197.4% |
| 50. | Mexico | $119,390,000 | +5% |
| 51. | Finland | $108,937,000 | +60% |
| 52. | New Zealand | $101,032,000 | -20% |
| 53. | Philippines | $96,365,000 | +2.9% |
| 54. | Luxembourg | $87,616,000 | +12.8% |
| 55. | Sweden | $81,917,000 | +17.9% |
| 56. | Portugal | $77,436,000 | +35.5% |
| 57. | Israel | $60,251,000 | -33% |
| 58. | Russia | $59,428,000 | +207.7% |
| 59. | Eswatini | $56,317,000 | 0% |
| 60. | Latvia | $54,595,000 | +172.7% |
| 61. | Cayman Islands | $51,059,000 | +86.3% |
| 62. | Denmark | $50,060,000 | -0.6% |
| 63. | Oman | $46,578,000 | -92.2% |
| 64. | Lithuania | $41,246,000 | +55.5% |
| 65. | Tunisia | $31,888,000 | +65.3% |
| 66. | Bulgaria | $31,532,000 | -23.4% |
| 67. | Algeria | $30,607,000 | +394.6% |
| 68. | Cyprus | $30,492,000 | +35.4% |
| 69. | Ukraine | $30,468,000 | -72.6% |
| 70. | Mauritius | $30,143,000 | +33.8% |
| 71. | Pakistan | $28,513,000 | +89% |
| 72. | Ireland | $28,269,000 | -22.6% |
| 73. | Morocco | $26,483,000 | +56.8% |
| 74. | Kyrgyzstan | $25,746,000 | 0% |
| 75. | Macao | $25,028,000 | +91.4% |
| 76. | Greece | $17,480,000 | +28.2% |
| 77. | Kuwait | $16,946,000 | -98.4% |
| 78. | Andorra | $16,429,000 | -0.3% |
| 79. | Panama | $10,106,000 | +97.7% |
| 80. | Iran | $7,547,000 | 0% |
| 81. | North Macedonia | $6,423,000 | +1366% |
| 82. | Turks/Caicos Is | $5,891,000 | 0% |
| 83. | Uzbekistan | $4,974,000 | -57.3% |
| 84. | Togo | $4,532,000 | +12.8% |
| 85. | Malta | $4,208,000 | +1.6% |
| 86. | Brazil | $4,059,000 | -15.3% |
| 87. | Azerbaijan | $3,795,000 | -95.9% |
| 88. | Brunei Darussalam | $3,687,000 | +29.1% |
| 89. | Uganda | $3,612,000 | -99.7% |
| 90. | Norway | $3,451,000 | -54.7% |
| 91. | US Minor Outlying Is | $3,205,000 | +106733% |
| 92. | Benin | $2,149,000 | +26763% |
| 93. | Sri Lanka | $1,854,000 | +47.1% |
| 94. | Bosnia/Herzegovina | $1,643,000 | +319.1% |
| 95. | Nicaragua | $1,591,000 | -55.1% |
| 96. | Guatemala | $1,435,000 | +17.3% |
| 97. | Costa Rica | $1,083,000 | -8.5% |
| 98. | Bhutan | $963,000 | -42.7% |
| 99. | Honduras | $824,000 | +456.8% |
| 100. | El Salvador | $757,000 | +79.8% |
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 2018 to 2022. A value of 0% in that column means that 2021 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 as measured by weight.
- Switzerland: 2,389 tons of imported gold (up 7.3% from 2021)
- mainland China: 1,345 tons (up 63.8%)
- United Kingdom: 737 tons (down -20.5%)
- India: 713 tons (down -33.2%)
- Hong Kong: 667 tons (up 27.5%)
- Türkiye: 379 tons (up 213.2%)
- Singapore: 319 tons (up 24.1%)
- United Arab Emirates: 290 tons (down -70.4%)
- Canada: 284 tons (up 0.7%)
- Armenia: 202 tons (up 10,000%)
- Thailand: 202 tons (up 33.8%)
- Italy: 194 tons (up 6.6%)
- United States of America: 187 tons (down -25.2%)
- Germany: 184 tons (down -3.2%)
- Austria: 111 tons (up 23.3%)
- Switzerland: US$41,226,348 per ton of imported gold (down -1% from 2021)
- mainland China: $56,991,486 per ton (down -1%)
- United Kingdom: $56,976,982 per ton (down -1.7%)
- Hong Kong: $56,996,258 per ton (up 2.3%)
- India: $51,296,715 per ton (down -1.8%)
- Türkiye: $53,931,594 per ton (up 18.7%)
- Singapore: $55,556,843 per ton (down -1.4%)
- United Arab Emirates: $53,423,474 per ton (up 8.6%)
- Thailand: $56,260,495 per ton (up 1.5%)
- Germany: $57,753,125 per ton (down -0.6%)
- United States of America: $51,402,064 per ton (down -7.5%)
- Canada: $28,563,648 per ton (up 23.3%)
- Italy: $36,919,876 per ton (down -10.3%)
- Austria: $57,739,865 per ton (up 0.4%)
- Cambodia: $58,196,987 per ton (up 0.9%)
Registering the strongest gains were gold importers in Armenia (up 10,000% since 2021), Türkiye (up 213.2%) and mainland China (up 63.8%).
Posting double-digit declines year over year were gold buyers in the United Arab Emirates (down -70.4% from 2021), India (down -33.2%), United States of America (down -25.2%) and the United Kingdom (down -20.5%).
Average Prices Paid by Major Gold Importers
The average price for globally imported gold was US$48.386 million per ton. That dollar metric results from a 42.5% increase from $33.951 million per ton in 2018 and a flatlining 0.3% gain from $46.241 million per ton one year earlier in 2021.
Lowest average prices per ton were paid by major gold importers in Canada ($28.564 million), Italy ($36.92 million), the world-leading gold importer which is Switzerland ($41.226 million), then India ($51.297 million).
The costliest charges per ton for imported gold were incurred by international buyers in Cambodia ($58.197 million) Germany ($57.753 million), Austria ($57.74 million), Hong Kong ($56.996 million), and mainland China ($56.991 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 July 25, 2023
International Trade Centre, Trade Map. Accessed on July 25, 2023
Investopedia, Net Exports Definition. Accessed on July 25, 2023
Wikipedia, Gold. Accessed on July 25, 2023
