In 2022, China topped the list of major gold consuming countries, with consumption amounting to almost 825 metric tons. By comparison, world gold production from mines in 2022 was estimated to have been some 3,000 metric tons.
Gold consumption
Gold is a very valuable and widely used metal worldwide. In addition to its attractive appearance, it has properties that make it suitable for many important uses beyond jewelry. These uses include electronics (due to its conductivity and resistance to corrosion), dentistry, glassmaking, and more. Gold bars and coins are also used by many banks and individuals as a means of investing due to its limited supply and high value. In 2023, the reported consumption of gold in the United States stood at some 250 metric tons.
Gold demand by sector
The jewelry industry has the largest overall demand for gold of any sector worldwide that uses it by far, with a demand of some 2,168 metric tons of gold in 2023. By comparison, world gold production from mines in 2023 was estimated to have been some 3,000 metric tons. Gold consumption through jewelry was also the largest use of gold in China.
Consumption of gold worldwide in 2022, by leading country
(in metric tons)
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Various sources (Insider Monkey). (June 29, 2023). Consumption of gold worldwide in 2022, by leading country (in metric tons) [Graph]. In Statista. Retrieved October 07, 2024, from https://www.statista.com/statistics/299638/gold-consumer-demand-by-top-consuming-country/
Various sources (Insider Monkey). "Consumption of gold worldwide in 2022, by leading country (in metric tons)." Chart. June 29, 2023. Statista. Accessed October 07, 2024. https://www.statista.com/statistics/299638/gold-consumer-demand-by-top-consuming-country/
Various sources (Insider Monkey). (2023). Consumption of gold worldwide in 2022, by leading country (in metric tons). Statista. Statista Inc.. Accessed: October 07, 2024. https://www.statista.com/statistics/299638/gold-consumer-demand-by-top-consuming-country/
Various sources (Insider Monkey). "Consumption of Gold Worldwide in 2022, by Leading Country (in Metric Tons)." Statista, Statista Inc., 29 Jun 2023, https://www.statista.com/statistics/299638/gold-consumer-demand-by-top-consuming-country/
Various sources (Insider Monkey), Consumption of gold worldwide in 2022, by leading country (in metric tons) Statista, https://www.statista.com/statistics/299638/gold-consumer-demand-by-top-consuming-country/ (last visited October 07, 2024)
Consumption of gold worldwide in 2022, by leading country (in metric tons) [Graph], Various sources (Insider Monkey), June 29, 2023. [Online]. Available: https://www.statista.com/statistics/299638/gold-consumer-demand-by-top-consuming-country/
