Raw gold is an impure form of gold mixed with different types of alloys like silver found in nature. It is the primary stage of gold from where the main compound is extracted via various purification methods. Dump-leaching or heap-leaching-like processes are used for the extraction of gold from these mixed metal alloys. The value of such mixed alloys is undetermined; it depends on the purity of your stone and the amount of gold in it. Raw gold is found in many types in nature in the form of gold nuggets, gold flakes, and gold dust.

Raw gold, as one of the costly goods contributes in multiple ways to economic growth. It fosters the growth of mining industries by increasing its revenue and also caters to unemployment rates. The increasing demand for metal has increased in the past few years globally and has accounted for a total global export of 360 billion US dollars in the year 2023.

Estimated Global Gold Consumption in 2023

The overgrowing global population demands higher consumption of gold as jewelry and a matter of investment for financial stability. The global rate of gold consumption has attained a rapid hike from the past consecutive years; the estimated multinational gold consumption of the top 10 countries in the year 2023 is discussed below,

• China – Estimated gold consumption in 2023 – 1,050 tonnes
• India - Estimated gold consumption in 2023 – 850 tonnes
• United States - Estimated gold consumption in 2023 – 270 tonnes.
• Germany - Estimated gold consumption in 2023 – 160 tonnes
• Turkey - Estimated gold consumption in 2023 – 130 tonnes
• Russia - Estimated gold consumption in 2023 – 110 tonnes
• Italy - Estimated gold consumption in 2023 – 100 tonnes
• Japan - Estimated gold consumption in 2023 – 90 tonnes
• Thailand - Estimated gold consumption in 2023 – 80 tonnes
• Saudi Arabia - Estimated gold consumption in 2023 – 70 tonnes

Top 10 Gold Exporting Countries in 2023

According to the information of Gold Export Data, many countries are evolving their mining industries and introducing new techniques and methods for the purification of raw gold. Some of the top gold-exporting countries of the year 2023 are discussed below,

• China – The South Asian nation has been noticed increasing its global export trade of gold and its products for stabilizing the economic funds. Methods like the Shanghai Gold Exchange are used to trade the mined and recycled gold from the country. The total export trade value of gold from China in the year 2023 is accounted as 110 billion US dollars.

• Australia – Australia holds second place with its high amount of gold exports, the country used to export its gold products to nations like China, Switzerland, Hong Kong, and many others on a global note. The open-cut mines are the top manufacturers of gold and account for an export value of 30 billion US dollars in 2023 at a multinational rate.

• Russia – The gold mining industries of Russia are increasing its production capabilities for giving tough battles to the other global exporters; Global Customs Data. The great trade rate of the nation makes it export in higher amounts to countries like the US and others. The total export trade value of gold in the year 2023 is accounted as 20 billion US dollars.

• United States – Being a huge consumer of this luxury metal, the United States also used to export gold in a vast amount. The open pit heap leach mines of the nation extract pure gold from gold nuggets and dust. The total export trade value of gold from the United States in the year 2023 is recorded as 18 billion US dollars.

• Canada – Around one-fourth of the total export value of the nation is captured by this luxury product. Base metal mines and open pit mines are the sections that play an efficient role in the extraction of gold with an export trade value of 16 billion US dollars in 2023.

• Peru – According to the Peru Gold Trade Data, this South American nation with its diverse land area and fascinating mining industries exports gold at a global rate of which the export trade value of the year 2023 is recorded as 12 billion US dollars.

• Ghana – The West African nation adjacent to the Gulf of Guinea and the Atlantic Ocean is one of the top global exporters of gold. The export trade value of these top traded products of Ghana has accounted for an overall revenue generation of 8 billion US dollars in 2023.

• South Africa – Different types of techniques like panning, sluicing, dredging, and hard rock mining are used by the mining industries of South Africa for the production of Gold. The top export trade partners of South Africa for gold are China and the United Arab Emirates, the export trade value of this costly product is 7 billion US dollars.

• Indonesia – With its vast mining and production capabilities, Indonesia records its name as the top 9th global gold exporter. The total trade value of the exported gold of Indonesia in 2023 is recorded as 6 billion US dollars.

• Uzbekistan – Last but not least, Uzbekistan is the top tenth global exporter of gold in the trade market; as per the Gold Import Export Statistics. The top countries with which Uzbekistan trades gold are Russia and Turkey, the total trade value of gold exported in 2023 is 5 billion US dollars.

FAQ’s

Que. Who is the top exporter of gold in 2023?
Ans. China is the top exporter of gold in 2023.

Que. What is the total global export rate of gold in 2023?
Ans. The total global export rate of gold in 2023 is 360 billion US dollars.

Que. Where you can get information about the top raw gold producers in 2023?
Ans. At Import Globals, you can get the statistics of top raw gold producers in 2023.

Que. What is the estimated gold consumption of China in 2023?
Ans. The estimated gold consumption of China in 2023 is 1,050 tonnes.

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