Exporters and Importers Gold are the world's 7th most traded product. In 2021, the top exporters of Gold were Switzerland ($86.7B), United Arab Emirates ($32.8B), United Kingdom ($29.7B), United States ($26.6B), and South Africa ($20.1B).
In 2021, Top exporters of Metals; gold, semi-manufactured are United Kingdom ($41,424,039.94K , 724,896 Kg), Australia ($14,987,248.79K , 260,243 Kg), Singapore ($14,039,483.79K , 273,557 Kg), Switzerland ($8,306,116.11K , 147,423 Kg), South Africa ($7,307,540.00K ).
Historical Data
In 2021, Switzerland imported $83.8B in Gold, mainly from United Kingdom ($19.3B), United States ($9.35B), United Arab Emirates ($7.47B), Burkina Faso ($6.72B), and South Africa ($3.67B).
The correct answer is Switzerland.
The country with the purest gold in the world is Switzerland, a country known for paying attention to quality. Below, the precious metals experts from First National Bullion and Coin, the best place to buy gold in Scottsdale, explain why this particular country has an affinity for pure gold.
The economy of Switzerland is one of the world's most advanced and highly-developed mixed economy. The service sector and Political stability and Economic stability has come to play a significant economic role, particularly the Swiss banking industry and tourism.
Australia and Russia hold the largest reserves of gold
Worldwide, the production of gold reached an estimated 3,100 metric tons in 2022.
Western Australia exported 98.7 per cent of Australia's gold in 2010. Around half of this was gold produced from Western Australian ores. The remainder was gold sourced from other Australian states and territories, and gold imported from overseas (mainly from Thailand, Papua New Guinea and the United States).
Imports The top imports of Australia are Refined Petroleum ($19.6B), Cars ($18.8B), Delivery Trucks ($8.08B), Broadcasting Equipment ($6.68B), and Computers ($6.61B), importing mostly from China ($70B), United States ($25.7B), Japan ($15.3B), Thailand ($12.1B), and Germany ($11.6B).
Hong Kong May Be Your Best Bet
Based on gold prices at the end of 2020, Hong Kong may be the cheapest country to buy gold from, going by listed face value prices. According to sovereignman.com, it's possible to easily purchase gold in Hong Kong at a lower premium than what's common in other countries.
In 2021, the top exporters of Gold were Switzerland ($86.7B), United Arab Emirates ($32.8B), United Kingdom ($29.7B), United States ($26.6B), and South Africa ($20.1B). In 2021, the top importers of Gold were Switzerland ($83.8B), India ($58.4B), United Kingdom ($53.9B), United Arab Emirates ($46B), and China ($34.2B).
Economic instability also spurred demand for gold, which many see as a safe investment, particularly in Turkey, where inflation has rocketed. Switzerland is the world's biggest gold refining and transit hub. It imports bullion from mines and storage centres around the world for processing and re-export.
Here is the full ranking of the richest countries in 2023, according to their per capita GDP. Luxembourg, one of the smallest countries in the EU has a population of 634,000 and is the richest country in this ranking with a per capita GDP of nearly $130,000.
According to estimates, in the middle of 2021 there were 56 million people worldwide whose assets exceeded one million US dollars, of whom nearly 40% lived in the United States. The total net worth of all millionaires stood at around $158.261 trillion.
The study found that Geneva has 90.300 millionaires, 345 centi-millionaires, and 16 billionaires.
In 1932, Australia departed from the gold standard, which fixed the value of the nation's currency to that of gold. As a result, the Bank was not required to retain gold reserves, and the Commonwealth Bank Act of 1932 made its banknotes no longer convertible into gold.
Australia is estimated to have the world's largest gold reserves, with 9,500 tonnes or 17 per cent of the total world estimated gold reserves of 57,000 tonnes.
The United States holds the largest stockpile of gold reserves in the world by a considerable margin at over 8,100 tons. The U.S. government has almost as many reserves as the next three largest gold-holding countries combined (Germany, Italy, and France).
In 2007, China replaced South Africa as the top gold-producing country and has since remained the undisputed world champion of gold production from mines, with output of up to 400 tons annually.
About 244,000 metric tons of gold has been discovered to date (187,000 metric tons historically produced plus current underground reserves of 57,000 metric tons). Most of that gold has come from just three countries: China, Australia, and South Africa. The United States ranked fourth in gold production in 2016.