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Who buys Armenia’s gold? Export destinations 2024

In 2024, Armenia exported $5.6 billion of gold (78 tonnes), 1% of the world total. The United Arab Emirates bought 71% of the total, followed by Hong Kong (20%) and China (8%). Armenia was the world’s 23rd-largest exporter of gold.

Summary

Value
$5.6billion
Tonnes
78tonnes
Share of world total
1%
World rank
23rd
Routes to the main destinations. Width: value; color: estimated transport mode.SeaAirLand

Destinations

The 7 main destinations in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
United Arab Emirates4Tonnes: 54USD per tonne: $73,206,89671%Air
Hong Kong re-exports1.1Tonnes: 16USD per tonne: $71,376,60120.4%Air
China0.45Tonnes: 7USD per tonne: $67,160,7698%Air
India0.03Tonnes: 1USD per tonne: $50,100,7670.57%Air
Italy< 0.01Tonnes: 0USD per tonne: $72,240,6000.05%Air
Russia< 0.01Tonnes: 0USD per tonne: $56,804,2860.03%Air
Sweden< 0.01Tonnes: —USD per tonne: —0%Sea

Trend

Who it sells to

The United Arab Emirates has been its main destination since 2022

Value in USD billions. The five largest destinations in 2024.

  • United Arab Emirates 4
  • Hong Kong 1.1
  • China 0.45
  • India 0.03
  • Italy < 0.01

Source: CEPII BACI

Show the numbers
Partner19952024
United Arab Emirates04
Hong Kong01.1
China00.45
India00.03
Italy0< 0.01

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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