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Where does Singapore get its gold? Import sources 2024

In 2024, Singapore imported $17.5 billion of gold (274 tonnes), 3.2% of the world total. Its main sources were Switzerland (21%), Australia (17%) and Thailand (13%). Singapore was the world’s 8th-largest importer of gold.

Summary

Value
$17.5billion
Tonnes
274tonnes
Share of world total
3.2%
World rank
8th
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
Switzerland3.6Tonnes: 67USD per tonne: $53,388,36920.5%Air
Australia2.9Tonnes: 37USD per tonne: $78,884,27616.7%Air
Thailand2.2Tonnes: 27USD per tonne: $83,757,61012.7%Air
Hong Kong re-exports2Tonnes: 28USD per tonne: $71,967,85911.4%Air
United States1.9Tonnes: 28USD per tonne: $65,766,69510.7%Air
Indonesia0.84Tonnes: 11USD per tonne: $77,015,0554.8%Air
United Arab Emirates0.79Tonnes: 10USD per tonne: $75,743,2254.5%Air
Canada0.75Tonnes: 8USD per tonne: $90,256,4084.3%Air
Japan0.6Tonnes: 27USD per tonne: $22,033,4053.5%Air
South Africa0.55Tonnes: 8USD per tonne: $71,511,5423.1%Air
Cambodia0.39Tonnes: 5USD per tonne: $79,828,5872.2%Air
United Kingdom0.21Tonnes: 4USD per tonne: $60,234,3221.2%Air
South Korea0.19Tonnes: 3USD per tonne: $75,432,0091.1%Air
China0.09Tonnes: 3USD per tonne: $27,899,4620.53%Air
Germany0.08Tonnes: 1USD per tonne: $99,880,2540.44%Air
Kazakhstan0.08Tonnes: 1USD per tonne: $67,338,1780.44%Air
Spain0.07Tonnes: 1USD per tonne: $73,323,4620.42%Air
Malaysia0.06Tonnes: 2USD per tonne: $34,987,5960.37%Air
Oman0.06Tonnes: 1USD per tonne: $79,338,8590.35%Air
Uzbekistan0.03Tonnes: 0USD per tonne: $71,474,6200.18%Air

Trend

Who it buys from

Switzerland has been its main source since 2021

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

  • Switzerland 3.6
  • Australia 2.9
  • Thailand 2.2
  • Hong Kong 2
  • United States 1.9

Source: CEPII BACI

Show the numbers
Partner19952024
Switzerland< 0.013.6
Australia0.112.9
Thailand< 0.012.2
Hong Kong0.032
United States0.021.9

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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