Top Gold Exporting Countries: A Complete Guide to the Global Gold Trade
- Anam seair
- 10 minutes ago
- 3 min read
Did you know that India is one of the world’s largest gold markets, driven by both cultural significance and rising purchasing power? The gold and diamond trade contributes nearly 7% to India’s GDP, while the jewellery industry employs around five million people. Although India is not among the top 10 gold exporting countries, it depends heavily on global suppliers—making it essential to understand the world’s biggest players in the international gold trade.
In this blog, we explore the largest exporter of gold, the biggest exporter of gold in the world, and the updated gold exports by country. We also highlight India’s latest gold export trends, HS codes, and the most prominent exporters.
Is Gold Export from India Profitable?
Yes—gold exports from India can be highly profitable due to increasing domestic and global demand. With rising affluence, gold jewellery, bullion, and investment-grade products continue to attract consumers across markets.
However, entering this competitive industry requires:
Mandatory licenses
Strong market knowledge
Access to verified gold trade data
Updated pricing and buyer information
Platforms like Seair Exim Solutions help traders access real-time intelligence on gold shipments, exporters, and international markets.
Top 10 Gold Exporting Countries in 2024
Here are the top 10 gold exporting countries shaping the global gold market:
Rank | Gold Exporting Countries | Gold Export Value ($ Million) |
1 | Switzerland | $86,700 |
2 | UAE | $32,800 |
3 | United Kingdom | $29,700 |
4 | United States | $26,600 |
5 | South Africa | $20,100 |
6 | Russia | $19,100 |
7 | Singapore | $18,600 |
8 | Australia | $17,600 |
9 | Hong Kong | $14,300 |
10 | Mali | $9,030 |
These nations collectively dominate global gold refining, jewellery production, trading, and bullion distribution.
Which Country Exports the Most Gold?
1. Switzerland – World's Largest Gold Exporter
Switzerland is the largest gold exporter in the world, contributing nearly 20% of global exports. Its advanced refining infrastructure and secure vaulting systems make it the global hub for precious metals. Major destinations include India, China, the US, Germany, and Hong Kong.
2. UAE
The UAE—especially Dubai—has evolved into a global gold marketplace. Known as the “City of Gold,” Dubai attracts tourists, investors, and traders, making it a key node in the gold supply chain.
3. United Kingdom
The UK, particularly London, serves as a historical financial centre for gold trading. With a mature jewellery sector and strong investment demand, it remains among the top global exporters.
4. United States
The US is a major producer of gold, with Nevada contributing nearly 80% of domestic output. It exports gold for industrial use, jewellery, and global trade.
5. South Africa
South Africa remains one of the leading exporters of gold, supported by decades of mining. It exports refined and unrefined gold to major markets like China, India, Switzerland, and the UAE.
These five countries represent a major share of the world’s largest exporters of gold in the world.
Gold Exports from India: Latest Trends
India is not the highest gold exporting country, mainly due to massive domestic consumption. Yet, the export sector is expanding rapidly.
Key Highlights:
Gold jewellery exports from India grew 66% in 2023–24.
Total export value reached Rs 56,330 crore.
India exported nearly $146 million of gold in FY 2023.
Top Destinations for Gold Exports from India:
United Arab Emirates
Hong Kong
Turkey
Canada
Singapore
Top Gold Exporters in India
India has several leading companies contributing to global trade:
PC Jeweller Ltd.
Tribhovandas Bhimji Zaveri Ltd.
Rajesh Exports
Kalyan Jewellers
Senco Gold Ltd.
Ashapuri Gold Ornament Ltd.
Silgo Retail Ltd.
Lypsa Gems & Jewellery Ltd.
These firms play a key role in India’s value-added jewellery exports.
Gold HS Codes
Here are essential HS codes used for gold trade:
7108 – Gold (including gold plated with platinum)
7113 – Jewellery articles
7102 – Diamonds (related precision cutting sector)
These HS codes are crucial for classification, customs compliance, and global data tracking.
Final Words
The biggest gold exporter in the world continues to be Switzerland, followed by the UAE, UK, US, and South Africa. These top gold exporting countries influence pricing, refining, and global gold circulation.
Although India is not among the largest exporters of gold in world, the nation’s jewellery industry continues to grow strongly. With the support of accurate gold trade data and export import data, real-time importer lists, and market insights from Seair Exim Solutions, businesses can enter the global gold trade with confidence.
If you want detailed insights into what country exports the most gold, updated exporter lists, or the latest gold export data, explore Seair Exim Solutions and access verified global trade intelligence today.
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