Last year's UAE gold exports totalled Dh196 billion. Recipient countries of these shipments remain undisclosed.
The United Arab Emirates (UAE) continued to dominate global gold flows in 2023, thanks to its free-trade policies, advanced logistics infrastructure, and thriving retail and wholesale markets. Although the UAE does not produce gold domestically, it acted as a major re-export and refining centre, importing gold primarily from African countries such as Mali, Ghana, Guinea, Sudan, and South Africa.
In 2023, the UAE exported a staggering $1.86 billion worth of gold to Turkey, with a focus on various shades of gold (yellow, white, rose, and black) and coins. Interestingly, gold bars were the most exported form of gold from the UAE, valued at $5.8 billion, while jewellery came in third, valued at $3.8 billion.
While the exact top 10 countries importing gold from the UAE in 2023 are not explicitly listed, we can infer some key insights about the UAE's gold trade and its major partners. Based on these insights, it is likely that the top importers of UAE-exported gold in 2023 were countries such as Switzerland, mainland China, the United Kingdom, Hong Kong, India, Singapore, Türkiye, United States, Thailand, and Italy.
These countries, which are also among the largest global gold importers, are likely key destinations for gold re-exported from the UAE. For instance, Switzerland, a major refiner and centre for gold trading, imported $4.76 billion worth of UAE gold in 2023. India, a significant gold consumer, imported $2.87 billion worth of gold from the UAE, with a focus on gold-plated items, coated utensils, and gold-alloyed products.
Other forms of gold exported from the UAE include gold nuggets, gold scrap, bullion, gold plating, gold leaf, gold brooches, gold flakes, nuggets, watches, statues, and gold dust, which was the fourth most exported form, valued at $2.71 billion.
The World Gold Council has highlighted the UAE's role as a reliable supplier in both times of market calm and volatility. The UAE's gold exports in 2024-25 were valued at $53.41 billion, a testament to its continued dominance in the global gold market.
In addition to its gold exports, the UAE also imported gold from various countries. Qatar, for example, imported $900 million worth of gold from the UAE, purchasing unrefined, semi-refined, and pearl-encrusted gold. Bahrain imported $1 billion worth of gold, including gold flakes, nuggets, watches, and statues.
Understanding where UAE gold flows can reveal trade dynamics and geopolitical and investment trends that impact various aspects, including inflation and consumer jewellery preferences. As the UAE continues to play a crucial role in the global gold market, its gold trade is likely to remain a subject of interest for economists, investors, and jewellery enthusiasts alike.
In 2023, the UAE's gold news was significant, as the country exported a substantial amount of gold, particularly in the form of gold bars, to various business destinations such as Switzerland, mainland China, the United Kingdom, Hong Kong, India, Singapore, Türkiye, United States, Thailand, and Italy, accumulating a total value of $53.41 billion in gold trade. This indicates that these countries are major partners in the UAE's gold business. Meanwhile, the UAE also imported gold from Qatar and Bahrain, showing a two-way flow in the global gold finance market.
