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Who buys Saudi Arabia’s gold? Export destinations 2024

In 2024, Saudi Arabia exported $1.9 billion of gold (30 tonnes), 0.4% of the world total. Its main destinations were Switzerland (46%), India (26%) and the United Arab Emirates (22%). Saudi Arabia was the world’s 37th-largest exporter of gold.

Summary

Value
$1.9billion
Tonnes
30tonnes
Share of world total
0.4%
World rank
37th
Routes to the main destinations. Width: value; color: estimated transport mode.SeaAirLand

Destinations

The 14 main destinations in the latest year.

PartnerValue (USD millions)TonnesUSD per tonneShareMode
Switzerland885Tonnes: 14USD per tonne: $63,204,24845.9%Air
India502Tonnes: 9USD per tonne: $57,038,67326%Air
United Arab Emirates430Tonnes: 6USD per tonne: $73,188,06922.3%Land
Iraq84.2Tonnes: 1USD per tonne: $74,613,4924.4%Land
Malaysia12.2Tonnes: 0USD per tonne: $75,137,3770.63%Air
China10.3Tonnes: 0USD per tonne: $38,112,5930.53%Air
Turkey3.1Tonnes: 0USD per tonne: $76,369,8000.16%Air
Hong Kong re-exports0.86Tonnes: 0USD per tonne: $28,754,8330.04%Air
Qatar0.7Tonnes: 0USD per tonne: $87,264,2500.04%Land
Bahrain0.43Tonnes: 0USD per tonne: $71,219,3330.02%Air
Armenia0.21Tonnes: 0USD per tonne: $70,085,3330.01%Air
Thailand0.09Tonnes: 0USD per tonne: $85,086,0000%Air
Lebanon0.04Tonnes: 0USD per tonne: $40,500,0000%Air
Germany< 0.01Tonnes: —USD per tonne: —0%Sea

Trend

Who it sells to

Switzerland has been its main destination since 2024

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

  • Switzerland 0.89
  • India 0.5
  • United Arab Emirates 0.43
  • Iraq 0.08
  • Malaysia 0.01

Source: CEPII BACI

Show the numbers
Partner19952024
Switzerland< 0.010.89
India< 0.010.5
United Arab Emirates00.43
Iraq00.08
Malaysia< 0.010.01

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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