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World - Gold - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

World - Gold - Market Analysis, Forecast, Size, Trends and Insights

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Nov 20, 2023

The Largest Import Markets for Gold

Gold has long been considered a valuable asset and a symbol of wealth and prestige. It has been used as a form of currency and a store of value throughout history. Today, gold continues to be highly sought after as an investment and a safe haven asset in times of economic uncertainty. While gold is mined in various countries around the world, there are certain countries that stand out as the top import markets for this precious metal.

In this article, we will explore the world's best import markets for gold based on the Import Value of Gold. The data used in this analysis is sourced from IndexBox, a leading market intelligence platform.

1. Switzerland

Switzerland takes the top spot as the world's largest import market for gold in 2022. With an import value of USD 99.0 billion, Switzerland dominates the global gold market. The country has a long-standing reputation for its expertise in refining and processing gold, making it a major hub for global gold trade.

2. China

China comes in second, with an import value of USD 76.7 billion in 2022. The country's strong demand for gold is driven by a combination of factors, including its growing middle class, cultural affinity for gold, and the role of gold as a store of value amidst economic uncertainties. China is also a major producer of gold, but its domestic production is not sufficient to meet its demand, leading to significant imports.

3. United Kingdom

The United Kingdom ranks third on the list with an import value of USD 41.8 billion in 2022. London, specifically, plays a vital role in the global gold market, with its renowned bullion market, the London Bullion Market Association (LBMA). The LBMA sets global standards for the refining and trading of gold, making the UK a significant player in the import and export of gold.

4. Hong Kong SAR

Hong Kong SAR follows closely behind the UK with an import value of USD 38.0 billion in 2022. Hong Kong has a long history of being a major trading hub, and its proximity to China makes it an attractive destination for gold imports. The city's free trade policies and well-established infrastructure also contribute to its position as a top import market for gold.

5. India

India, known for its love for gold, ranks fifth on the list with an import value of USD 36.6 billion in 2022. Gold holds immense cultural and religious significance in India, and it is often bought for special occasions such as weddings and festivals. The country also has a large gold jewelry manufacturing sector, which drives its demand for gold imports.

6. Turkey

Turkey is the sixth-largest importer of gold in the world, with an import value of USD 20.4 billion in 2022. The country has a deep-rooted tradition of gold ownership, and gold jewelry is popular among Turkish consumers. Additionally, Turkey is strategically located between Europe and Asia, making it a gateway for gold imports into both regions.

7. United Arab Emirates

The United Arab Emirates (UAE) ranks seventh on the list, with an import value of USD 18.2 billion in 2022. The UAE, particularly Dubai, is known for its gold souks and thriving gold trading industry. The country's strategic location, tax-free environment, and well-developed infrastructure attract gold imports from around the world.

8. Singapore

Singapore, a global financial and trading hub, holds the eighth position on the list with an import value of USD 17.7 billion in 2022. The country's well-regulated financial system, political stability, and favorable business environment make it an attractive destination for gold imports. Singapore is also home to several renowned gold refineries.

9. Thailand

Thailand ranks ninth on the list, with an import value of USD 11.2 billion in 2022. Gold is highly valued in Thailand, both as an investment and for cultural purposes. The country has a large gold jewelry market, and gold is often given as a gift during important celebrations and ceremonies.

10. Germany

Germany rounds up the top ten import markets for gold with an import value of USD 10.6 billion in 2022. The country has a strong demand for gold, driven by both investment and jewelry purposes. Germany is also home to several renowned gold refineries and has a well-established gold trading industry.

In conclusion, these ten countries serve as the world's best import markets for gold. Their demand for gold is driven by various factors such as cultural traditions, investment purposes, and the role of gold as a store of value. The import values provided by the IndexBox market intelligence platform highlight the significant role these countries play in the global gold trade.

Note: The data and statistics used in this article are derived from the IndexBox market intelligence platform.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global gold market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 24412030 - Gold, unwrought or in powder form for non-monetary use (including plated with platinum)
  • Prodcom 24412035 -
  • Prodcom 24412040 -
  • Prodcom 24412050 - Gold, in semi-manufactured forms for non-monetary use (including plated with platinum) (excluding unwrought or in powder form)
  • Prodcom 24412070 - Monetary gold (including gold plated with platinum)

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

Newmont Goldcorp, Barrick Gold, Franco-Nevada, Polyus Gold, Agnico Eagle Mines Limited, Newcrest Mining, Gold Fields, Kinross Gold, AngloGold Ashanti, Yamana Gold, Eldorado Gold, Goldcorp, Harmony Gold, China National Gold Group Corporation, Shandong Gold Group, Shanghai Construction Group, Sino Gold Mining, Lingbao Gold, Zhaojin Mining, Zijin Mining

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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