Top Gold Exporting Countries in 2024: Rankings and Market Insights
Gold remains one of the world's most precious
commodities, serving as both a financial asset and industrial material. In
2024, global gold exports reached record levels, with several nations
dominating the market. Below, we present the complete rankings along with key
trends shaping the industry.
2024 Global Gold Export Rankings
(Unwrought/Semi-manufactured)
Rank Country Export Value (USD)
1 Switzerland $116.4 billion
2 United
Kingdom $65.9 billion
3 Hong
Kong $56.6 billion
4 UAE $53.4
billion
5 United
States $29.7 billion
6 Canada $28.0
billion
7 Australia $23.6
billion
8 Japan $17.9
billion
9 Singapore $17.4
billion
10 Germany $15.0
billion
11 Uzbekistan $13.6 billion
12 Peru $12.7
billion
13 China $12.5
billion
14 Russia $12.3
billion
15 Thailand $8.6
billion
16 South
Africa $8.28 billion
17 Mexico $7.3
billion
18 Kyrgyzstan $5.9 billion
19 Ghana $5.7
billion
20 Armenia $5.6
billion
21 Italy $5.1
billion
22 Burkina
Faso $4.6 billion
23 Colombia $4.1
billion
24 Brazil $4.0
billion
25 France $3.5 billion
Source: World's Top Exports
Key Market Trends
1. Switzerland's Gold Hub Dominance
Switzerland maintains its position as the world's gold
export leader ($116.4B), leveraging its:
Advanced refining infrastructure (processing 70% of
global gold)
Strategic location between European markets and mining
nations
Secure vaults and favorable trade policies
2. The UK-Hong Kong-UAE Triad
These financial hubs collectively exported $175.9
billion, highlighting how gold trading concentrates in:
London: Physical trading and price-setting (LBMA)
Hong Kong: Gateway for Asian demand
UAE: Duty-free zones attracting regional buyers
3. Mining vs. Trading Nations
A clear divide exists between:
Producers:
Canada (#6), Australia (#7), South Africa (#16) export
mined gold
Uzbekistan (#11) and Burkina Faso (#22) represent
emerging miners
Trading/Refining Centers:
Switzerland, UK, and Singapore (#9) primarily re-export
processed gold
4. Geopolitical Shifts
Russia (#14): Exports fell 40% from 2021 due to
sanctions, now relying on UAE/China routes
China (#13): Increased domestic consumption reduced
export volumes
West Africa: Ghana (#19) and Burkina Faso (#22) are
becoming key suppliers
5. Price Volatility Factors
2024 saw gold prices fluctuate between $1,900-$2,100/oz
due to:
Central bank purchases (led by China and Poland)
ETF outflows in Q2 2024
USD strength pressuring emerging-market demand
Future Outlook
Analysts project:
+3.8% CAGR in gold exports through 2027
African nations (Ghana, Burkina Faso) to climb rankings
Increased recycling (e-waste/jewelry) supplementing mined
supply
This data reveals how gold flows reflect both economic power and geopolitical realities. Whether for investment or industry, these 25 nations control the arteries of the global gold trade.
