World's Largest Gold Producing Countries: Indonesia Makes the List

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Adi Ahdiat 27/04/2023 11:14 WIB

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According to data from the United States Geological Survey (USGS), the world's largest gold producer in 2022 was China, while Indonesia ranked ninth.

19 Largest Gold-Producing Countries in the World (2022)*

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World's Largest Gold Producing Countries: Indonesia Makes the List

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19 Largest Gold-Producing Countries in the World (2022)*

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According to data from the United States Geological Survey (USGS), the world's largest gold producer in 2022 was China.

The USGS estimates that China produced 330 tons of gold throughout 2022, a 0.3% increase compared to 2021 (year-on-year/yoy).

Australia and Russia followed, each producing 320 tons of gold. Australia's gold production in 2022 increased by 1.5% (yoy), while Russia's remained the same as the previous year.

Indonesia's gold production in 2022 is estimated to have increased by 6% (yoy) to 70 tons. With this achievement, Indonesia is among the top 19 largest gold-producing countries in the world, ranking 9th, on par with Burkina Faso.

Overall, the USGS estimates that global gold production in 2022 increased by 0.3% (yoy) to 3,100 tons.

Global gold consumption was primarily used for jewelry (47%), central banks and institutions (20%).

Other uses included gold bars (17%), coins and medals (9%), electronics production (6%), and other industrial production (1%).

According to the USGS, global gold consumption during the January-September 2022 period increased by 18% compared to January-September 2021.

This increase was mainly driven by increased gold purchases by central banks in various countries, use in jewelry, and the production of coins and medals.

Meanwhile, during January-September 2022, the use of gold for electronics production and gold bars decreased.

"Global investment in gold-based trading also fell during that period," stated the USGS in its Mineral Commodity Summaries 2023 report.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."