🇸🇦 Saudi Arabia imports of gold: 2024 trade data
Imports of gold by Saudi Arabia reached $8.08 billion in 2024 (109 tonnes). Its share of world imports was 1%. That is 11% more than in 2023. Over 2017-2024 the trade grew strongly, by about 93% a year on average.
Public statistics, latest reported year 2024. Values in US dollars.
Imports of gold by year, 2017-2024
Hover or tap a year for detail.
Year by year
| Year | Value | Quantity |
|---|---|---|
| 2024 | $8.08B | 109 t |
| 2023 | $7.27B | 117 t |
| 2022 | $5.79B | 100 t |
| 2021 | $3.63B | 62 t |
| 2020 | $910.1M | 102 t |
| 2019 | $2.20B | 55 t |
| 2018 | $3.17B | 77 t |
| 2017 | $81.0M | 2 t |
Where Saudi Arabia imports gold from
Switzerland alone supplied 60% of it. Among the main suppliers, South Africa grew fastest (+314% on the year before).
| Supplier country | Value | Share |
|---|---|---|
| 🇨🇭 Switzerland | $4.86B | 60% |
| 🇦🇪 United Arab Emirates | $2.84B | 35% |
| 🇿🇦 South Africa | $275.6M | 3.4% |
| 🇨🇳 China | $54.6M | 0.7% |
| 🇭🇰 Hong Kong | $16.5M | 0.2% |
| 🇺🇸 United States | $10.7M | 0.1% |
| 🇨🇦 Canada | $5.3M | 0.1% |
| 🇦🇹 Austria | $4.1M | 0.1% |
| 🇦🇺 Australia | $3.7M | 0.1% |
| 🇩🇪 Germany | $2.9M | 0% |
Types of gold under HS 7108
| 7108.12 | Metals: gold, non-monetary, unwrought (but not powder) | 99% |
| 7108.13 | Metals: gold, semi-manufactured | 1.5% |
| 7108.11 | Metals: gold, non-monetary, powder | 0% |
Codes and full descriptions: HS heading 7108.
Average import price of gold
The average declared value was about $74,260.23 per kg, 28% above the world average of $57,889.60. This usually points to higher-grade or processed goods.
Declared value divided by weight, all 2024 shipments. Prices per shipment and per company are in EximDataX.
Saudi Arabia also exports gold
In 2024, Saudi Arabia exported gold worth $1.93 billion (30 tonnes). The largest buyer markets were Switzerland (45%), India (26%), United Arab Emirates (22%). Among the main buyer markets, Switzerland grew fastest (+95% on the year before).
| Destination | Value | Share |
|---|---|---|
| 🇨🇭 Switzerland | $878.4M | 46% |
| 🇮🇳 India | $505.0M | 26% |
| 🇦🇪 United Arab Emirates | $430.0M | 22% |
| 🇮🇶 Iraq | $84.2M | 4.4% |
| 🇨🇳 China | $15.9M | 0.8% |
| 🇲🇾 Malaysia | $12.2M | 0.6% |
| 🇹🇷 Turkey | $3.4M | 0.2% |
| 🇭🇰 Hong Kong | $2.0M | 0.1% |
| 🇶🇦 Qatar | $698K | 0% |
| 🇧🇭 Bahrain | $427K | 0% |
Who is behind these numbers in Saudi Arabia?
Public statistics stop at country totals and the last published year. EximDataX shows the shipment records underneath: the companies, dates, quantities and declared values, updated weekly.
Shipment records are in the platform
Tell us what you trade and we will show you the latest records on a live call.
Mirror data: built from the shipment records of the countries that trade with it.
Updated weekly on EximDataX (some markets daily), while public statistics stop at 2024.
Source: CEPII BACI (reconciled UN Comtrade data), HS 2017 edition, release 202601, Etalab Open Licence 2.0. Annual values in US dollars at the customs border; quantities in tonnes where reported. HS 7108: Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form.
Gold trade in Saudi Arabia: questions
What is the value of gold imported by Saudi Arabia?
Saudi Arabia imported gold worth $8.08 billion in 2024 (109 tonnes).
Where does Saudi Arabia import gold from?
The main supplier countries in 2024 were Switzerland (60%), United Arab Emirates (35%), South Africa (3%).
What is the average import price of gold in Saudi Arabia?
The average declared import value was about $74,260.23 per kg in 2024, against a world average of $57,889.60 per kg.
Does Saudi Arabia export gold?
Yes. Saudi Arabia exported gold worth $1.93 billion in 2024, mainly to Switzerland, India, United Arab Emirates.
What is the HS code for gold?
Gold falls under HS heading 7108 (Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form). The six-digit codes under it split the product by type.
How can I find the companies trading gold with Saudi Arabia?
These public statistics stop at country level. EximDataX builds Saudi Arabia trade from the records of its trading partners, updated weekly, so you can see who ships this product there.
Gold trade in other countries
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