Year over year, the value of globally imported gold flatlined via a 0.7% slowdown compared to $487.4 billion in 2022.
The world’s 5 biggest importers of gold in 2023 were Switzerland, mainland China, Hong Kong, United Kingdom and India. Collectively, that cohort of major gold buyers bought well over two-thirds (70.3%) of the world total for the shiny precious metal.
From a continental perspective, Asian countries bought the highest dollar amount of imported gold during 2023 with purchases valued at $287.5 billion or 58.6% of the global total.
In second place were European importers at 34.9% of overall imported gold purchases. Imports to the 27-member European Union represents a much lower percentage (4.1%) because leading gold importers Switzerland and the United Kingdom are not EU members.
Another 5% of international gold purchases was delivered to importers in North America.
Tinier percentages arrived in Oceania (1.2%) led by Australia, Africa (0.2%), 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 2023.
- Switzerland: US$102.3 billion (20.8% of total gold imports)
- mainland China: $92.1 billion (18.8%)
- Hong Kong: $59.9 billion (12.2%)
- United Kingdom: $48.1 billion (9.8%)
- India: $42.6 billion (8.7%)
- Türkiye: $30 billion (6.1%)
- United Arab Emirates: $23.9 billion (4.9%)
- United States: $15.1 billion (3.1%)
- Singapore: $12.6 billion (2.6%)
- Canada: $9.5 billion (1.9%)
- Thailand: $8 billion (1.6%)
- Italy: $6.7 billion (1.4%)
- Australia: $5.7 billion (1.2%)
- Germany: $4.9 billion (1%)
- Saudi Arabia: $4.5 billion (0.9%)
By value, the listed 15 countries purchased 94.9% of all gold imported in 2023.
Among the above countries, the fastest-growing markets for gold since 2022 were: Hong Kong (up 57.4%), United States (up 57.1%), Türkiye (up 46.9%) and mainland China (up 20.2%).
Those countries that posted declines in their imported gold purchases were led by: United Arab Emirates (down -59.9% from 2022), Germany (down -53.8%), Thailand (down -29.9%) and Singapore (down -29.1%).
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$102.3 billion in 2023. Below are the top 15 suppliers from which Switzerland imported the highest dollar value worth of gold during 2023.
Within parenthesis is the percentage change in value for each supplying country from 2022 to 2023.
- United States: US$15.3 billion (down -25.6% from 2022)
- United Arab Emirates: $9.7 billion (up 18.1%)
- Uzbekistan: $8.2 billion (up 108.6%)
- Canada: $5.9 billion (up 1.3%)
- Australia: $5.3 billion (up 97.8%)
- Russia: $3.9 billion (up 137.4%)
- South Africa: $3.8 billion (down -28.3%)
- Kazakhstan: $3.7 billion (up 43.4%)
- Ghana: $3.3 billion (up 1.8%)
- Burkina Faso: $3 billion (down -1.4%)
- Germany: $2.9 billion (up 57.6%)
- Thailand: $2.6 billion (up 9.8%)
- United Kingdom: $2.4 billion (down -72.2%)
- Japan: $2.22 billion (up 94.1%)
- Peru: $2.2 billion (down -2.9%)
By value, the listed 15 countries shipped 72.8% of gold imported by Switzerland in 2023.
Among the above countries, the fastest-growing suppliers of gold to Switzerland from 2022 to 2023 were: Russia (up 137.4%), Uzbekistan (up 108.6%), Australia (up 97.8%) and Japan (up 94.1%).
Countries that experienced declines in the value of their gold supplied to Swiss importers included: United Kingdom (down -72.2% from 2022), South Africa (down -28.3%), United States (down -25.6%) and Peru (down -2.9%).
Overall, the value of Switzerland’s imported gold rose by an average 3.9% from all supplying countries since 2022 when gold purchased on international markets cost $98.5 billion.
Gold Imports into China
Mainland China’s global purchases of imported gold totaled US$92.1 billion in 2023. Below are the top 15 suppliers from which China imported the highest dollar value worth of gold during 2023.
Within parenthesis is the percentage change in value for each supplying country from 2022 to 2023.
- Switzerland: US$37.2 billion (up 9.1% from 2022)
- Canada: $14.1 billion (down -3.8%)
- Australia: $11.1 billion (up 33.8%)
- South Africa: $10.1 billion (up 13.9%)
- Hong Kong: $9.2 billion (up 196.5%)
- Singapore: $3.2 billion (up 124.9%)
- Germany: $2.1 billion (up 111.1%)
- Japan: $1.7 billion (down -2.3%)
- United Arab Emirates: $460.1 million (up 139.9%)
- Russia: $321 million (down -17%)
- Taiwan: $277.5 million (up 66.9%)
- South Korea: $161.8 million (up 60.4%)
- United Kingdom: $53.1 million (down -22.8%)
- Laos: $47.5 million (up 47.6%)
- Guyana: $36.7 million (2022 data unavailable)
By value, the listed 15 countries shipped 97.8% of gold imported by mainland China in 2023.
Among the above countries, the fastest-growing suppliers of gold to China from 2022 to 2023 were: Hong Kong (up 196.5%), United Arab Emirates (up 139.9%), Singapore (up 124.9%) and Germany (up 111.1%).
Four countries that experienced declines in the value of their gold supplied to Chinese importers were: United Kingdom (down -22.8% from 2022), Russia (down -17%), Canada (down -3.8%) and Japan (down -2.3%).
Overall, the value of China’s imported gold increased by an average 20.2% from all supplying countries since 2022 when gold purchased on international markets cost $76.7 billion.
Gold Imports into Hong Kong
Hong Kong’s global purchases of imported gold totaled US$59.9 billion in 2023. Below are the top 15 suppliers from which Hong Kong imported the highest dollar value worth of gold during 2023.
Within parenthesis is the percentage change in value for each supplying country from 2022 to 2023.
- Switzerland: US$10 billion (up 217.9% from 2022)
- United Arab Emirates: $9.8 billion (up 63.9%)
- United Kingdom: $8.7 billion (down -4.9%)
- Australia: $6.1 billion (up 52.5%)
- Japan: $5.7 billion (up 32.2%)
- Russia: $5.2 billion (up 800.8%)
- mainland China: $3.6 billion (up 33.1%)
- Canada: $2.8 billion (up 21%)
- Singapore: $2 billion (up 596.2%)
- South Africa: $1.3 billion (up 117.5%)
- Thailand: $622.9 million (down -5.8%)
- United States of America: $617.9 million (down -56.7%)
- Armenia: $480.6 million (up 2529557.9%)
- Taiwan: $421 million (down -47.5%)
- Uganda: $385.5 million (up 26.2%)
By value, the listed 15 countries shipped 91.8% of gold imported by Hong Kong in 2023.
Among the above countries, the fastest-growing suppliers of gold to Hong Kong from 2022 to 2023 were: Armenia (up 2,529,558%), Russia (up 800.8%), Singapore (up 596.2%) and Switzerland (up 217.9%).
Four countries that experienced declines in the value of their gold supplied to Hong Kong’s importers were: United States of America (down -56.7%), Taiwan (down -47.5%), Thailand (down -5.8%) and United Kingdom (down -4.9%).
Overall, the value of Hong Kong’s imported gold accelerated by an average 57.4% from all supplying countries since 2022 when gold purchased on international markets cost $38 billion.
Gold Imports into the United Kingdom
The United Kingdom’s global purchases of imported gold totaled US$48.1 billion in 2023. Below are the top 15 suppliers from which the UK imported the highest dollar value worth of gold during 2023.
Within parenthesis is the percentage change in value for each supplying country from 2022 to 2023.
- Kazakhstan: US$13.7 billion (up 107.2% from 2022)
- United States of America: $8 billion (up 14.4%)
- Canada: $7 billion (down -33%)
- Switzerland: $3 billion (up 7.1%)
- Germany: $2.8 billion (up 307.7%)
- Uzbekistan: $2.5 billion (up 307.3%)
- Australia: $2.2 billion (up 6079.5%)
- South Africa: $2 billion (up 428.2%)
- Spain: $1.5 billion (up 11.6%)
- Mexico: $1.2 billion (down -16%)
- Philippines: $842.4 million (down -75.5%)
- Austria: $743.7 million (up 14.4%)
- Japan: $548.6 million (down -24.9%)
- Sweden: $537.2 million (down -8.3%)
- Hong Kong: $467.6 million (up 1157.8%)
By value, the listed 15 countries shipped 98.1% of gold imported by the United Kingdom in 2023.
Among the above countries, the fastest-growing suppliers of gold to United Kingdom from 2022 to 2023 were: Australia (up 6,080%), Hong Kong (up 1,158%), South Africa (up 428.2%) and Germany (up 307.7%).
Countries that experienced declines in the value of their gold supplied to UK importers included: Philippines (down -75.5% from 2022), Canada (down -33%), Japan (down -24.9%) and Mexico (down -16%).
Overall, the value of United Kingdom’s imported gold advanced by an average 14.4% from all supplying countries since 2022 when gold purchased on international markets cost $42 billion.
Searchable List of Gold Importing Countries in 2023
Presented in the following database are the 100 most valuable importers of gold during 2023 sorted by total dollar value of gold imports during 2023.
| Rank | Importer | Gold Imports | 2022-3 |
|---|---|---|---|
| 1. | Switzerland | $102,328,071,000 | +3.9% |
| 2. | mainland China | $92,129,213,000 | +20.2% |
| 3. | Hong Kong | $59,851,901,000 | +57.4% |
| 4. | United Kingdom | $48,050,493,000 | +14.4% |
| 5. | India | $42,581,167,000 | +16.4% |
| 6. | Türkiye | $30,016,831,000 | +46.9% |
| 7. | United Arab Emirates | $23,851,994,000 | -59.9% |
| 8. | United States | $15,104,622,000 | +57.1% |
| 9. | Singapore | $12,561,921,000 | -29.1% |
| 10. | Canada | $9,528,353,000 | +17.5% |
| 11. | Thailand | $7,961,360,000 | -29.9% |
| 12. | Italy | $6,691,058,000 | -6.6% |
| 13. | Australia | $5,693,251,000 | +17.8% |
| 14. | Germany | $4,923,717,000 | -53.8% |
| 15. | Saudi Arabia | $4,506,848,000 | -19.9% |
| 16. | Austria | $3,512,534,000 | -45.2% |
| 17. | Malaysia | $2,877,762,000 | -25.8% |
| 18. | Indonesia | $2,600,543,000 | -26.1% |
| 19. | France | $2,348,620,000 | +18.9% |
| 20. | Taiwan | $1,710,552,000 | -14% |
| 21. | Lebanon | $1,597,832,000 | +54.3% |
| 22. | Armenia | $1,370,794,000 | +486.3% |
| 23. | South Korea | $983,360,000 | -15.1% |
| 24. | South Africa | $668,437,000 | +42.7% |
| 25. | Spain | $583,026,000 | -30.4% |
| 26. | Jordan | $468,494,000 | -77.5% |
| 27. | Belgium | $382,385,000 | -44.2% |
| 28. | Poland | $338,509,000 | -46.6% |
| 29. | Netherlands | $299,015,000 | -31.7% |
| 30. | Dominican Republic | $295,675,000 | -8% |
| 31. | Bangladesh | $288,739,000 | -54.2% |
| 32. | Japan | $275,078,000 | +0% |
| 33. | Vietnam | $267,876,000 | +0.9% |
| 34. | Czech Republic | $243,246,000 | -55.1% |
| 35. | Iraq | $225,425,000 | -75.4% |
| 36. | Cambodia | $224,059,000 | -95% |
| 37. | Tajikistan | $208,673,000 | +485186% |
| 38. | Sweden | $178,024,000 | +116.9% |
| 39. | Russia | $173,414,000 | +126.1% |
| 40. | Oman | $159,552,000 | -78% |
| 41. | Kazakhstan | $152,735,000 | -38.7% |
| 42. | Slovenia | $148,409,000 | -55.2% |
| 43. | Egypt | $139,168,000 | -56.1% |
| 44. | Croatia | $138,943,000 | -43.7% |
| 45. | Mexico | $134,859,000 | +13% |
| 46. | Mali | $116,055,000 | -39.1% |
| 47. | Estonia | $103,764,000 | -40% |
| 48. | Hungary | $95,519,000 | -65.7% |
| 49. | Kuwait | $90,731,000 | -91.9% |
| 50. | Philippines | $78,310,000 | -18.7% |
| 51. | Ukraine | $78,244,000 | +156.8% |
| 52. | Bhutan | $72,690,000 | +7448% |
| 53. | Laos | $69,215,000 | -79.2% |
| 54. | Sri Lanka | $69,212,000 | +3633% |
| 55. | Slovakia | $68,289,000 | -32% |
| 56. | Israel | $67,580,000 | +12.2% |
| 57. | Portugal | $65,724,000 | -15.5% |
| 58. | Morocco | $59,595,000 | +125% |
| 59. | Serbia | $58,306,000 | -54.5% |
| 60. | Uzbekistan | $45,586,000 | +816.5% |
| 61. | New Zealand | $44,749,000 | -55.7% |
| 62. | Tunisia | $43,440,000 | +52.8% |
| 63. | Mauritius | $35,997,000 | +19.4% |
| 64. | Finland | $34,902,000 | -68.1% |
| 65. | Latvia | $30,624,000 | -43.9% |
| 66. | Luxembourg | $29,607,000 | -69.7% |
| 67. | Pakistan | $29,592,000 | +3.8% |
| 68. | Denmark | $28,045,000 | -43.9% |
| 69. | Bulgaria | $25,631,000 | -18.7% |
| 70. | Lithuania | $23,603,000 | -42.8% |
| 71. | Nepal | $22,388,000 | -94.3% |
| 72. | Algeria | $21,603,000 | -53.2% |
| 73. | Greece | $19,896,000 | +13.8% |
| 74. | Ireland | $19,668,000 | -30.4% |
| 75. | Macao | $19,458,000 | -22.3% |
| 76. | Kyrgyzstan | $18,179,000 | -29.4% |
| 77. | Bahrain | $17,628,000 | -95.7% |
| 78. | Cyprus | $14,616,000 | -52.1% |
| 79. | Andorra | $12,275,000 | -25.3% |
| 80. | Madagascar | $10,319,000 | 0% |
| 81. | Iran | $9,602,000 | 0% |
| 82. | Qatar | $6,821,000 | -98.3% |
| 83. | Panama | $6,601,000 | -34.7% |
| 84. | Benin | $5,896,000 | +174.4% |
| 85. | Libya | $5,167,000 | -80.6% |
| 86. | Norway | $4,718,000 | +36.7% |
| 87. | Brazil | $4,623,000 | +13.9% |
| 88. | North Macedonia | $3,782,000 | -41.1% |
| 89. | Botswana | $3,708,000 | +4716% |
| 90. | Malta | $3,674,000 | -12.6% |
| 91. | Togo | $3,521,000 | -22.3% |
| 92. | Azerbaijan | $3,438,000 | -9.4% |
| 93. | Costa Rica | $3,126,000 | +188.6% |
| 94. | Montenegro | $2,763,000 | +3792% |
| 95. | Brunei Darussalam | $2,549,000 | -30.9% |
| 96. | Turkmenistan | $1,967,000 | +2214% |
| 97. | Guatemala | $1,929,000 | +34.4% |
| 98. | Ghana | $1,653,000 | +41225% |
| 99. | Albania | $1,374,000 | 0% |
| 100. | Niger | $1,224,000 | +4608% |
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 2022 to 2023. A value of 0% in that column means that 2022 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: 2,387 tons of imported gold (down -0.1% from 2022)
- mainland China: 1,481 tons (up 10.1%)
- Hong Kong: 974 tons (up 46%)
- United Kingdom: 770 tons (up 4.5%)
- India: 744 tons (up 4.3%)
- Türkiye: 499 tons (up 31.7%)
- United Arab Emirates: 397 tons (down -62.6%)
- Canada: 275 tons (down -3.2%)
- United States of America: 251 tons (up 34.2%)
- Armenia: 242 tons (up 19.8%)
- Singapore: 210 tons (down -34.2%)
- Italy: 176 tons (down -7.9%)
- Malaysia: 138 tons (up 42.3%)
- Thailand: 128 tons (down -36.6%)
- Indonesia: 123 tons (up 41.4%)
Registering the strongest gains were gold importers in Hong Kong (up 46% since 2022), Malaysia (up 42.3%), Indonesia (up 41.4%), United States of America (up 34.2%) and Türkiye (up 31.7%).
Posting double-digit declines year over year were gold buyers in the United Arab Emirates (down -62.6% from 2022), Thailand (down -36.6%) and Singapore (down -34.2%).
Average Prices Paid by Major Gold Importers
The average price for globally imported gold was US$52.685 million per ton. That dollar metric results from a 70% increase from $30.993 million per ton in 2019 and a 7.3% gain from $49.103 million per ton one year earlier in 2022.
- Switzerland: US$42,868,903 per ton of imported gold (up 4% from 2022)
- mainland China: $62,207,436 per ton (up 9.2%)
- Hong Kong: $61,449,590 per ton (up 7.8%)
- United Kingdom: $62,403,238 per ton (up 9.5%)
- India: $57,232,751 per ton (up 11.6%)
- Türkiye: $60,153,970 per ton (up 11.5%)
- United Arab Emirates: $60,080,589 per ton (up 7.1%)
- United States of America: $60,177,777 per ton (up 17.1%)
- Singapore: $59,818,671 per ton (up 7.7%)
- Canada: $34,648,556 per ton (up 21.3%)
- Thailand: $62,198,125 per ton (up 10.6%)
- Italy: $38,017,375 per ton (up 1.4%)
- Germany: $61,546,463 per ton (up 6.7%)
- Saudi Arabia: $62,595,111 per ton (up 10.1%)
- Austria: $61,623,404 per ton (up 6.6%)
Lowest average prices per ton were paid by major gold importers in Canada ($34.649 million), Italy ($38.017 million), the the world-leading gold importer which is Switzerland ($42.869 million).
The costliest charges per ton for imported gold were incurred by international buyers in Saudi Arabia ($62.595 million) United Kingdom ($62.403 million), mainland China ($62.207 million) and Thailand ($62.198 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 23, 2024
International Trade Centre, Trade Map. Accessed on July 23, 2024
Investopedia, Net Exports Definition. Accessed on July 23, 2024
Wikipedia, Gold. Accessed on July 23, 2024