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World - Gold - Market Analysis, Forecast, Size, Trends and Insights
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View PricingThe 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.
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:
- USA
- 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
+ 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:
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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. 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
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023