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Where does India get its gold? Import sources 2024

In 2024, India imported $58.1 billion of gold (826 tonnes), 10.5% of the world total. Its main sources were Switzerland (33%), the United Arab Emirates (28%) and South Africa (11%). India was the world’s 4th-largest importer of gold.

Summary

Value
$58.1billion
Tonnes
826tonnes
Share of world total
10.5%
World rank
4th
Routes from the main sources. Width: value; color: estimated transport mode.SeaAirLand

Sources

The 20 main sources in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
Switzerland19.4Tonnes: 262USD per tonne: $73,899,44733.3%Air
United Arab Emirates16.1Tonnes: 206USD per tonne: $78,363,23127.7%Air
South Africa6.3Tonnes: 83USD per tonne: $76,932,60010.9%Air
Peru4.2Tonnes: 67USD per tonne: $62,914,5927.3%Air
Australia3Tonnes: 38USD per tonne: $77,649,8775.1%Air
United States1.5Tonnes: 23USD per tonne: $65,967,5342.6%Air
Ghana1.1Tonnes: 16USD per tonne: $69,007,8121.9%Air
Uganda0.7Tonnes: 11USD per tonne: $63,311,2871.2%Air
Colombia0.64Tonnes: 9USD per tonne: $72,959,2681.1%Air
Dominican Republic0.62Tonnes: 29USD per tonne: $21,134,0241.1%Air
China0.55Tonnes: 7USD per tonne: $81,344,8170.94%Land
Hong Kong re-exports0.51Tonnes: 6USD per tonne: $82,610,6170.88%Air
Saudi Arabia0.5Tonnes: 9USD per tonne: $57,038,6730.86%Air
Argentina0.47Tonnes: 15USD per tonne: $32,585,9110.82%Air
Bolivia0.37Tonnes: 5USD per tonne: $75,224,4150.63%Air
Guinea0.33Tonnes: 4USD per tonne: $75,896,7540.56%Air
Tanzania0.31Tonnes: 6USD per tonne: $53,960,2570.54%Air
Japan0.27Tonnes: 2USD per tonne: $118,069,3920.47%Air
Turkey0.27Tonnes: 4USD per tonne: $74,356,0660.46%Air
Singapore re-exports0.25Tonnes: 4USD per tonne: $65,208,9390.43%Air

Trend

Who it buys from

Switzerland has been its main source since 2003

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

  • Switzerland 19.4
  • United Arab Emirates 16.1
  • South Africa 6.3
  • Peru 4.2
  • Australia 3

Source: CEPII BACI

Show the numbers
Partner19952024
Switzerland0.4119.4
United Arab Emirates0.0216.1
South Africa< 0.016.3
Peru04.2
Australia0.013

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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