HS Icon Gold

7108 (Harmonized System 1992 for 4-digit)

World Trade (2018): $305B, Rnk 8 / 1225

Top Exporter (2018): $63.8B, Switzerland

Top Importer (2018): $64.9B, Switzerland

Product Complexity (2018): -2.33, Rnk 1009 / 1018

Export Growth (CAGR)(2017 - 2018): -7.94%, Rnk 1165 / 1225

Mean Tariff (2018): 5.09%, Rnk 812 / 1259

Share of World Trade (2018): 1.66%, Rnk 8 / 1225

Overview:  This page contains the latest trade data of Gold. In 2018, Gold were the world's 8th most traded product, with a total trade of $305B. Between 2017 and 2018 the exports of Gold decreased by -7.94%, from  $331B to $305B. Trade in Gold represent 1.66% of total world trade.

Exports: In 2018 the top exporters of Gold  were Switzerland ($63.8B), United Kingdom ($25.8B), United States ($18.1B), South Africa ($17.9B), and Australia ($16.1B).

Imports: In 2018 the top importers of Gold were Switzerland ($64.9B), China ($36.9B), India ($32.8B), United Arab Emirates ($27.3B), and Hong Kong ($26.1B).

Tariffs: In 2018 the average tariff for Gold was 5.09%, been the 812 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Gold are Angola (50%), Cameroon (29.4%), Gabon (29.4%), Chad (29.4%), and Uzbekistan (28.7%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), United Arab Emirates (0%), China (0%), and Hong Kong (0%).

Ranking: Gold ranks 1009th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Switzerland, $63.8B

Top Destination (2018): Switzerland, $64.9B

Gold are the world's 8th most traded product.

In 2018, the top exporters of Gold were Switzerland ($63.8B), United Kingdom ($25.8B), United States ($18.1B), South Africa ($17.9B), and Australia ($16.1B).

In 2018, the top importers of Gold were Switzerland ($64.9B), China ($36.9B), India ($32.8B), United Arab Emirates ($27.3B), and Hong Kong ($26.1B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United Kingdom, $9.69B

Top Destination Growth (2017 - 2018): United Arab Emirates, $10B

Between 2017 and 2018, the exports of Gold grew the fastest in United Kingdom ($9.69B), Canada ($6.04B), Venezuela ($2.7B), Burkina Faso ($2.41B), and Guinea ($2.24B).

Between 2017 and 2018, the fastest growing importers of Gold were United Arab Emirates ($10B), Cambodia ($3.59B), Saudi Arabia ($3.24B), France ($2.77B), and Azerbaijan ($1.27B).

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Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Gold.

In 2018,  market concentration measured using Shannon Entropy, was 4.84. This means that most of the exports of Gold are explained by 28 countries.

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TOP NET EXPORTER (2018): South Africa, $15.8B

TOP NET IMPORTER (2018): China, $35.4B

This map shows which countries export or import more of Gold. Each country is colored based on the difference in exports and imports of Gold during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Gold were South Africa ($15.8B), Australia ($12.2B), Ghana ($10B), United States ($8.23B), and Canada ($7.93B).

In 2018, the countries that had a largest trade value in imports than in exports of Gold were China ($35.4B), India ($31.9B), Hong Kong ($14.1B), United Arab Emirates ($11.9B), and Turkey ($8.11B).

Trade Forecasts

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This section shows forecasts for total trade for Gold. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Import Tariffs

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In 2018, the average tariff for importing Gold was 5.09%.  The countries with the highest tariffs for importing Gold were Angola (50%), Cameroon (29.4%), Gabon (29.4%), Chad (29.4%), and Uzbekistan (28.7%).

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Product Complexity

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Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.