Top 10 Gold Producing Countries vs. Gold Consuming Countries

To understand the gold industry and its importance in the world economy, it helps to know the top countries that produce and consume gold.

Top 10 gold producing countries

The list changes a little every year, but these countries are generally considered the largest gold producers in the world. When there is a supply constriction in any of them, prices tend to rise. One trend is a reduction of gold mining in some countries due to environmental concerns.

1. China produces more than 355 metric tons of gold per year, with one mine in Xinjiang province holding up to 200 tons.
2. Australia produces about 270 metric tons per year. Most mines are in Western Australia, but gold is found in most states.
3. The United States produces approximately 237 metric tons per year, with the largest mines in Nevada.
4. Russia produces nearly 200 metric tons per year, sometimes exceeding US production.
5. South Africa produces almost 190 metric tons per year. It was the world's largest producer for many years, though output has dwindled recently.
6. Peru produces around 150 metric tons per year, much of it in the Amazon belt.
7. Canada produces approximately 110 metric tons per year, concentrated in the western provinces.
8. Ghana produces about 100 metric tons per year; gold trade is very important to its economy.
9. Indonesia produces roughly 100 metric tons per year and is home to the world's largest gold mine.
10. Uzbekistan produces nearly 90 metric tons per year and is said to have the largest open-pit gold mine in the world.

Top 10 gold consuming countries

In much of the world, gold is seen as a true storehouse of value. Depending on the country, gold investment may take the form of jewellery, ornaments, coins or raw bullion.

• China consumes almost 984 metric tons per year, across industry, investment and jewellery.
• India consumes almost 849 metric tons per year. Since domestic mining is tiny, almost all of it is imported, mainly for jewellery.
• The United States consumes about 193 metric tons per year, mixed between industrial, investment and jewellery use.
• Germany consumes close to 124 metric tons per year, much of it for industrial use.
• Thailand consumes approximately 90 metric tons per year.
• Saudi Arabia consumes around 85 metric tons per year, with jewellery famous for its quality across Asia.
• Turkey consumes nearly 72 metric tons per year, largely for jewellery.
• Iran consumes close to 71 metric tons per year, for jewellery and investment.
• Vietnam imports approximately 63 metric tons per year, for jewellery and value storage.
• Indonesia consumes around 59 metric tons per year, mostly for ornaments and jewellery.

Many factors affect gold prices, including these production and consumption patterns. If you have gold to sell, or you want to release your pledged gold, you have come to the right place. At Aaradyaa Gold we buy gold coins, gold bars and more at the current market rate, and give you cash immediately.