Gold7108 (Harmonized System 1992 for 4-digit)
2019 World Trade: $341B, Rnk 8 / 1217
2019 Top Exporter | Top Importer: $59B | $65B, Switzerland | United Kingdom
2019 Product Complexity: -2.51, Rnk 954 / 961
2018 - 2019 Export Growth (CAGR): 8.07%, Rnk 97 / 1217
2018 Mean Tariff: 5.09%, Rnk 812 / 1259
2019 Share of World Trade: 1.88%, Rnk 8 / 1217
Overview: This page contains the latest trade data of Gold. In 2019, Gold were the world's 8th most traded product, with a total trade of $341B. Between 2018 and 2019 the exports of Gold grew by 8.07%, from $316B to $341B. Trade in Gold represent 1.88% of total world trade.
Exports: In 2019 the top exporters of Gold were Switzerland ($59B), Australia ($25.4B), United Kingdom ($24B), United Arab Emirates ($21.4B), and South Africa ($16.8B).
Imports: In 2019 the top importers of Gold were United Kingdom ($65B), Switzerland ($63.5B), China ($41.5B), India ($33.8B), and United Arab Emirates ($31.8B).
Tariffs: In 2018 the average tariff for Gold was 5.09%, making it the 812th 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 954th in the Product Complexity Index (PCI).
Description: Gold is a precious metal that is used in jewelry, electronics, and other products. It's also used in the production of dental alloys.
Trade By Country
Top Origin (2019): Switzerland, $59B
Top Destination (2019): United Kingdom, $65B
Gold are the world's 8th most traded product.
In 2019, the top exporters of Gold were Switzerland ($59B), Australia ($25.4B), United Kingdom ($24B), United Arab Emirates ($21.4B), and South Africa ($16.8B).
In 2019, the top importers of Gold were United Kingdom ($65B), Switzerland ($63.5B), China ($41.5B), India ($33.8B), and United Arab Emirates ($31.8B).
Trade by country
Top Origin Growth (2018 - 2019): Australia, $9.26B
Top Destination Growth (2018 - 2019): United Kingdom, $36B
Between 2018 and 2019, the exports of Gold grew the fastest in Australia ($9.26B), Russia ($5.52B), United Arab Emirates ($5.15B), Thailand ($3.17B), and Uzbekistan ($2.77B).
Between 2018 and 2019, the fastest growing importers of Gold were United Kingdom ($36B), United Arab Emirates ($4.49B), Azerbaijan ($1.57B), United States ($1.26B), and Italy ($1.14B).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Gold.
In 2019, market concentration measured using Shannon Entropy, was 5.04. This means that most of the exports of Gold are explained by 32 countries.
TOP NET EXPORTER (2019): Australia, $20.9B
TOP NET IMPORTER (2019): United Kingdom, $41B
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 2019.
In 2019, the countries that had a largest trade value in exports than in imports of Gold were Australia ($20.9B), South Africa ($14.1B), Ghana ($10.8B), Canada ($9B), and Japan ($7.14B).
In 2019, the countries that had a largest trade value in imports than in exports of Gold were United Kingdom ($41B), China ($39.7B), India ($33B), United Arab Emirates ($10.3B), and Turkey ($9.25B).
In 2019, the world most traded Gold, disaggragated by their HS6 level were Gold in unwrought forms non-monetary ($253B), Gold, semi-manufactured forms, non-monetary ($87.7B), and Gold powder non-monetary ($321M)
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%).
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.
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