What Are The Top Gold Exporting Countries in the World in 2026?
Key Takeaways
- Peru is the largest of all gold exporting countries by tracked export value, with US$14.63 billion recorded between January and July 2026, giving it 24.30% of the US$60.19 billion in tracked HS 71 export value, powered by yTrade HS 71 export records. Ghana followed almost level at US$14.62 billion (24.29%) and Tanzania at US$14.58 billion (24.23%).
- Peru, Ghana, Tanzania, Uganda, and Indonesia are the top gold producing countries in this ranking. These are mining origins that export unwrought or semi-manufactured gold, not finished products. However, Switzerland, the UAE, and Hong Kong re-export refined gold and are actual dominants in global gold trade.
- Unwrought and semi-manufactured gold under HS 710812 is the largest gold exporting type, accounting for US$32.65 billion, followed by HS 710813 at US$20.89 billion.
Gold exporting countries figures in this article come from yTrade *HS 71 export records, covering origin-country value rankings, 6-digit subheading breakdowns, and verified buyer records for January to July 2026.*
What Are The Top 10 Gold Exporting Countries in 2026?
Peru leads all gold exporting countries in yTrade’s HS 71 data at US$14.63 billion (January–July 2026), followed by Ghana at US$14.62 billion and Tanzania at US$14.58 billion. The top three are separated by less than US$50 million, making 2026 unusually tight at the top. The top 10 gold producing countries also include Uganda, Indonesia, Bolivia, India, the Philippines, Ecuador, and Malaysia:
- Peru: US$14.63 billion (24.30%) — a leading Latin American mining origin where gold moves alongside copper as a core export earner.
- Ghana: US$14.62 billion (24.29%) — Africa's largest gold producer, now pushing output through domestic refining before export.
- Tanzania: US$14.58 billion (24.23%) — a fast-growing East African origin where gold dominates merchandise export earnings.
- Uganda: US$5.45 billion (9.05%) — a regional refining and re-export hub that punches well above its small mining base.
- Indonesia: US$3.43 billion (5.69%) — a major Southeast Asian producer combining mine output with a developing refining sector.
| # | Country of Origin | No. of Suppliers | Shipments | Value (US$) | Value % |
|---|---|---|---|---|---|
| 1 | Peru | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data | 14,628,742,978.06 | 24.30% |
| 2 | Ghana | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data | 14,619,887,528.35 | 24.29% |
| 3 | Tanzania | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data | 14,584,108,949.36 | 24.23% |
| 4 | Uganda | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data | 5,445,472,966.48 | 9.05% |
| 5 | Indonesia | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data | 3,426,266,980.06 | 5.69% |
| 6 | Bolivia | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data | 1,264,554,726.09 | 2.10% |
| 7 | India | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data | 1,196,264,973.21 | 1.99% |
| 8 | Philippines | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data | 924,148,386.35 | 1.54% |
| 9 | Ecuador | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data | 889,876,112.87 | 1.48% |
| 10 | Malaysia | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data | 875,097,650.93 | 1.45% |
Source: yTrade, HS 71 export records by country of origin, January–July 2026.
Top #1 Gold Exporting Country: Peru — US$14.6 Billion
Peru is the highest gold exporting country in yTrade's 2026 tracking, and its official trade data confirms a strong run. The country's gold exports grew 58.5% year on year between January and July 2026, which placed gold at 37.3% of the country's total mining exports. Rising prices and higher shipping volume both drove the increase.
The momentum continued into mid-year. In July 2026, Peruvian gold exports rose 40.9% year on year as shipped volume increased 15.5% and the market price climbed 21.9%. Gold sits second to copper in Peru's mineral export book, yet its growth rate outpaced the broader mining sector, which underlines how central the metal has become to the country's trade earnings.
- Peruvian gold exports grew 58.5% year on year from January to July 2026: a jump that raised gold to 37.3% of all Peruvian mining exports.
- July 2026 gold exports rose 40.9% year on year: driven by a 15.5% volume increase and a 21.9% climb in market price.
- Mining made up 74.6% of Peru's total exports through July 2026: anchoring gold as one of the country's two leading export earners alongside copper.
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Top #2 Gold Exporting Country: Ghana — US$14.6 Billion
Ghana is Africa's largest gold producer, and 2026 brought a decisive policy change to how its gold leaves the country. From 1 September 2026, gold dore bought by self-financing aggregators must be refined inside Ghana before export, under a directive from the Ghana Gold Board implementing the Ghana Gold Board Act, 2025. The country produced nearly 6 million ounces, about 185 tonnes, in 2025, and its gold export earnings nearly doubled year on year as small-scale output expanded.
The policy tightened further in the second half. Reported by the Bank of Ghana, the Gold Board paused certain gold exports from mid-August 2026 to help rebuild foreign reserves, which had slipped to 24.4 tonnes by June 2026 from 33 tonnes a year earlier. Gold makes up roughly two-thirds of Ghana's total exports, so the pause weighed heavily on the trade balance.
- Ghana's gold export earnings nearly doubled in 2025: driven by a sharp expansion in small-scale mining output across the country.
- A local-refining rule took effect on 1 September 2026: requiring aggregator gold dore to be refined in Ghana before export under the Ghana Gold Board Act, 2025.
- Ghana paused certain gold exports from mid-August 2026: a move to rebuild reserves that had slipped to 24.4 tonnes by June 2026.
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Top #3 Gold Exporting Country: Tanzania — US$14.6 Billion
Tanzania is one of the fastest-growing gold origins in East Africa, and gold now anchors its export earnings. Its gold exports increased 37.4% year on year in the period ending July 2026, buoyed by favourable international prices. Gold made up 47.4% of the country's goods export earnings, the single largest contributor.
That concentration gives Tanzania both strength and exposure. Among African gold exporting countries, it is unlikely to become the largest gold exporter in the world, yet its earnings move closely with the global gold price because nearly half of merchandise export value rides on one metal, which rallied through 2026 and pushed Tanzanian receipts higher even where shipped volume stayed steady. The same price rally lifted gold earnings across the continent, including in Sudan, where exports rose despite the ongoing war, so buyers should watch price sensitivity closely when planning contract timing with East African suppliers.
- Tanzanian gold exports increased 37.4% year on year through July 2026: lifted mainly by favourable international gold prices.
- Gold made up 47.4% of Tanzania's goods export earnings: the single largest contributor to the country's merchandise export value.
- Tanzania's gold receipts track the global price closely: because nearly half of merchandise export value depends on the one metal.
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Top #4 Gold Exporting Country: Uganda — US$5.5 Billion
Uganda is fourth among the gold exporting countries tracked by yTrade, and its growth has been rapid. The country shipped gold worth US$5.8 billion in 2025, up 76% from US$3.3 billion in 2024, reported by Reuters via Mining Weekly. Gold has overtaken coffee as the country's largest export earner, and in April 2026 alone gold brought in US$866 million, roughly 62% of total merchandise exports that month. Record international prices and new entrants into the trading business drove the surge.
Uganda produces little gold from its own ground. It operates as a regional refining and transit hub for gold mined in the Democratic Republic of Congo and South Sudan, with multiple refineries now producing export-grade bullion that meets international standards, based on Business Times Uganda. The country opened its first large-scale mine, a US$250 million Chinese-owned project in eastern Uganda, yet economists caution that headline export figures overstate the wealth retained domestically because most raw material is imported.
- Uganda's gold exports surged 76% year on year in 2025: rising from US$3.3 billion to US$5.8 billion as record prices attracted new dealers.
- Gold overtook coffee as Uganda's top export earner: with April 2026 gold receipts of US$866 million making up roughly 62% of total merchandise exports.
- Uganda refines and re-exports gold sourced from the DRC and South Sudan: a hub model that inflates gross export value while retaining less value onshore than a mining origin.
Top #5 Gold Exporting Country: Indonesia — US$3.4 Billion
Indonesia rounds out the top five gold exporting countries as Southeast Asia's largest gold mining origin, and 2026 has been a year of recovery and policy change. Insights from the World Gold Council via IDN Financials show that PT Freeport Indonesia's Grasberg complex, the country's flagship gold and copper mine, suspended operations after a landslide in September 2025 and is ramping back toward roughly 700,000 ounces of gold output in 2026 at about 65% of capacity, with full production expected by 2028.
At the same time, the government announced an export tax of up to 15% on gold shipments starting in 2026, reported by Kitco. Processed gold faces a lower rate than raw dore, which is designed to push more refining onshore and boost domestic supply. Indonesia's gold exports reached US$1.64 billion in the first nine months of 2025, up from US$1.1 billion for all of 2024, with Singapore, Switzerland, and Hong Kong as the main buyers.
- Grasberg is ramping toward 700,000 ounces of gold in 2026: running at about 65% capacity after the September 2025 landslide, with full output expected by 2028.
- A new export tax of up to 15% took effect in 2026: with lower rates on refined gold to encourage domestic processing over raw dore exports.
- Indonesia's gold exports reached US$1.64 billion in the first nine months of 2025: up from US$1.1 billion for all of 2024, with Singapore, Switzerland, and Hong Kong as the top buyers.
What Are The Major Gold Export Categories By HS Code In 2026?
Unwrought and semi-manufactured gold under HS 710812 dominates gold exports by country, generating US$32.65 billion and 54.25% of tracked value between January and July 2026, while HS 710813 contributes US$20.89 billion at 34.71%, according to yTrade's HS 71 export records.
The breakdown below ranks the five gold subheadings by export value across the tracked gold exporting countries.
- HS 710812 (gold, unwrought or semi-manufactured, non-monetary): US$32.65 billion (54.25%) — bulk gold in bar and semi-processed form, the backbone of mine-to-refinery and refinery-to-market trade.
- HS 710813 (gold, other semi-manufactured forms): US$20.89 billion (34.71%) — further-processed gold used by refiners and manufacturers, the second pillar of high-value trade.
- HS 711319 (jewellery of other precious metal): US$4.42 billion (7.34%) — finished gold jewellery, the highest by shipment count but a smaller share of value.
- HS 711890 (coin, other than legal tender): US$1.02 billion (1.69%) — gold coin and collectible pieces traded outside monetary circulation.
- HS 710900 (base metal clad with gold): US$593.74 million (0.99%) — gold-clad base metal, the smallest tracked category by value.
| # | HS Code | Description | Value (US$) | Value % | Weight (kg) |
|---|---|---|---|---|---|
| 1 | 710812 | Gold, unwrought/semi-manufactured | 32,651,890,577.94 | 54.25% | 301,469.48 |
| 2 | 710813 | Gold, other semi-manufactured | 20,890,659,142.79 | 34.71% | 🔒 Unlock yTrade Data |
| 3 | 711319 | Jewellery of other precious metal | 4,419,881,232.31 | 7.34% | 🔒 Unlock yTrade Data |
| 4 | 711890 | Coin, other than legal tender | 1,019,548,778.81 | 1.69% | 🔒 Unlock yTrade Data |
| 5 | 710900 | Base metal clad with gold | 593,740,974.51 | 0.99% | 🔒 Unlock yTrade Data |
Who Are The Biggest Global Gold Buyers?
In the list of yTrade's HS 71 verified buyer records for January to July 2026, INAH Co Ltd is the biggest gold buyers, originally from South Korea, then comes to other top buyers in China, Japan & Vietnam:
- INAH Co Ltd (South Korea): a Jeollabuk-do trading company and one of the most active verified gold buyers in yTrade's records.
- MCGA Company Limited (Mainland China): a Hong Kong-registered trading firm handling gold across regional markets.
- Estelle Holdings Co Ltd (Japan): a Tokyo-based holding company active in precious-metal procurement.
- INAH Co Ltd / JTS Inc (South Korea): a related Korean trading entity sharing the INAH group's gold-buying operations.
- David Yurman Enterprises LLC (Vietnam): a jewellery manufacturer and buyer sourcing gold inputs for finished production.
| # | Verified Buyer | Country | Shipments | Match Rate |
|---|---|---|---|---|
| 1 | INAH Co Ltd | South Korea | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data |
| 2 | MCGA Company Limited | Mainland China | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data |
| 3 | Estelle Holdings Co Ltd | Japan | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data |
| 4 | INAH Co Ltd / JTS Inc | South Korea | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data |
| 5 | David Yurman Enterprises LLC | Vietnam | 🔒 Unlock yTrade Data | 🔒 Unlock yTrade Data |
Source: yTrade, HS 71 verified buyer records, January–July 2026.
Use yTrade to yTrade to check any counterparty:
- Pull a buyer's full shipment and reconciliation history
- Flag unmatched or re-consigned consignments early
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Conclusion
yTrade's HS 71 export records from January to July 2026 value the top gold exporting countries at a combined US$60.19 billion, led by Peru at US$14.63 billion, Ghana at US$14.62 billion, and Tanzania at US$14.58 billion, three origins separated by under US$50 million. Unwrought and semi-manufactured gold under HS 710812 carried 54.25% of tracked value. Looking ahead, Ghana's local-refining rules and export pause, Peru's price-driven gains, and Tanzania's heavy reliance on one metal all point to tighter, policy-shaped supply into 2027, with East Asian buyers like INAH anchoring demand across the top origins.
FAQ
Which country has the highest gold export?
In yTrade's HS 71 export value tracking from January to July 2026, Peru was the highest gold exporting country at US$14.63 billion, just ahead of Ghana and Tanzania. By global trade value, the largest exporter of gold in the world is usually a refining hub such as Switzerland, the UAE, or Hong Kong, which re-exports gold they do not mine.
Which top 10 country has the most gold?
By official gold reserves held by central banks, the United States holds the most at over 8,000 tonnes, followed by Germany, Italy, France, Russia, China, Switzerland, Japan, India, and the Netherlands. These holdings are separate from export flows, so the largest gold exporter in the world by shipped value is rarely the country holding the most reserves.
yTrade contributor
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