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Where does South Korea get its gold? Import sources 2024

In 2024, South Korea imported $2.3 billion of gold (33 tonnes), 0.4% of the world total. Australia sold 54% of the total, followed by Japan (21%) and Hong Kong (14%). South Korea was the world’s 26th-largest importer of gold.

Summary

Value
$2.3billion
Tonnes
33tonnes
Share of world total
0.4%
World rank
26th
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
Australia1.3Tonnes: 17USD per tonne: $75,105,37253.9%Air
Japan0.48Tonnes: 7USD per tonne: $73,750,62320.9%Air
Hong Kong re-exports0.33Tonnes: 4USD per tonne: $77,983,81814.2%Air
Switzerland0.1Tonnes: 1USD per tonne: $78,083,9354.3%Air
Canada0.04Tonnes: 1USD per tonne: $80,297,9921.7%Air
China0.04Tonnes: 2USD per tonne: $17,231,8771.6%Air
Singapore re-exports0.03Tonnes: 0USD per tonne: $64,494,7831.1%Air
United Arab Emirates0.02Tonnes: 0USD per tonne: $87,510,7631.1%Air
Vietnam0.01Tonnes: 0USD per tonne: $70,287,3940.54%Air
United States0.01Tonnes: 0USD per tonne: $16,104,9240.31%Air
Peru< 0.01Tonnes: 0USD per tonne: $77,592,6450.1%Air
Turkey< 0.01Tonnes: 0USD per tonne: $30,660,4660.08%Air
Germany< 0.01Tonnes: 0USD per tonne: $17,233,3410.06%Air
Thailand< 0.01Tonnes: 0USD per tonne: $23,689,6440.06%Air
Nigeria< 0.01Tonnes: —USD per tonne: —0.04%Sea
Tanzania< 0.01Tonnes: 0USD per tonne: $60,452,7860.04%Air
Malaysia< 0.01Tonnes: 0USD per tonne: $10,592,8530.02%Air
United Kingdom< 0.01Tonnes: 0USD per tonne: $8,001,6050.01%Air
Zimbabwe< 0.01Tonnes: 0USD per tonne: $61,468,6670.01%Air
Philippines< 0.01Tonnes: 0USD per tonne: $67,572,0000.01%Air

Trend

Who it buys from

Australia has been its main source since 2021

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

  • Australia 1.3
  • Japan 0.48
  • Hong Kong 0.33
  • Switzerland 0.1
  • Canada 0.04

Source: CEPII BACI

Show the numbers
Partner19952024
Australia1.21.3
Japan0.010.48
Hong Kong< 0.010.33
Switzerland0.370.1
Canada0.070.04

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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