Georgia’s revenue from precious metal sales has increased due to the global market’s growth in gold prices.
According to Geostat data, in 2024, 2.67 tons of gold worth USD 104.7 million was exported, which was 18% more in value compared to 2023 data. Notably, in 2023, Georgia received USD 88.8 million for a slightly larger volume of 2.72 tons of gold, indicating an increase in gold export prices.
Switzerland is Georgia’s main market for selling unprocessed, semi-processed, or gold powder.
Export markets:
Switzerland – USD 96.9 mln/2.5 tons
Turkey – USD 6.5 mln/0.13 tons
United Arab Emirates – USD 1.4 mln/0.03 tons
In January-February 2025, 0.48 tons of gold worth USD 19.8 million was exported. In the same period of 2024, exports were 0.44 tons and USD 14 million. This year as well, the majority of gold, more than 90% of the total volume, was sold to Switzerland.