Real Assets
Visualizing Global Gold Production by Country in 2020
Global Gold Production by Country in 2020
People usually come across gold in the form of jewelry and admire it for its beauty, value, and permanence.
But before gold makes it into jewelry and vaults, it goes through a long and difficult production process that begins with mining.
The price of gold broke an all-time high of $2,000/oz in 2020, giving miners a brief boost to profitability. However, mine shutdowns due to the pandemic ultimately dented global gold production relative to 2019.
The above infographic breaks down gold production by country in 2020, highlighting the biggest nations for gold mining.
The Top 10 Gold Producing Countries
Although gold mining is a global business, just three countries—China, Australia, and Russia—accounted for 31% of global gold production in 2020.
| Country | 2020 Production (tonnes) | % of Total |
|---|---|---|
| 🇨🇳 China | 380 | 11.7% |
| 🇦🇺 Australia | 320 | 9.9% |
| 🇷🇺 Russia | 300 | 9.3% |
| 🇺🇸 U.S. | 190 | 5.9% |
| 🇨🇦 Canada | 170 | 5.2% |
| 🇬🇭 Ghana | 140 | 4.3% |
| 🇮🇩 Indonesia | 130 | 4.0% |
| 🇵🇪 Peru | 120 | 3.7% |
| 🇰🇿 Kazakhstan | 100 | 3.1% |
| 🇲🇽 Mexico | 100 | 3.1% |
| 🇺🇿 Uzbekistan | 90 | 2.8% |
| 🇿🇦 South Africa | 90 | 2.8% |
| 🇸🇩 Sudan | 90 | 2.8% |
| 🇧🇷 Brazil | 80 | 2.5% |
| 🇵🇬 Papua New Guinea | 70 | 2.2% |
| 🇲🇱 Mali | 61 | 1.9% |
| 🇦🇷 Argentina | 60 | 1.9% |
| Other | 750 | 23.1% |
| Total | 3,241 | 100.0% |
China topped the list partly due to the resumption of gold mining activities after pandemic-induced lockdowns. Furthermore, China accounted for 30% of global demand for gold jewelry in 2020, offering miners an additional incentive for production.
The U.S. produced 190 tonnes of gold in 2020, the majority of which came from mines in Nevada. Barrick Gold, the world’s largest gold mining company, produced roughly 85 tonnes or 45% of U.S. gold in 2020.
Indonesia ranks seventh in the list partly due to the Grasberg Mine, one of the world’s largest gold mines, which has produced over 1,500 tonnes or 53 million ounces of gold since 1990.
In total, miners produced 3,241 tonnes of gold in 2020, a 3% drop from the 3,300 tonnes mined in 2019. This also brings the total above-ground stocks of gold to around 201,296 tonnes, which are distributed between jewelry, investments, and central bank holdings.
How Much Gold is Left to Mine?
Gold derives part of its value from scarcity. So how much gold is left in the world?
According to the World Gold Council, the latest year-end estimate of underground gold reserves adds up to 50,000 tonnes. Of these, Australia and Russia collectively host around 35% or 17,500 tonnes.
At current production rates, these gold reserves will last less than 16 years. However, 2020 also saw $2.9 billion flow into gold exploration and development projects, which might one day add to the world’s gold reserves in the future.
Real Assets
How Much Gold is in Fort Knox?
The United States Bullion Depository holds more than half of the Treasury’s $428B in gold reserves.
How Much Gold Is in Fort Knox?
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
U.S. President Donald Trump has promised to visit Fort Knox “to make sure the gold is there.”
Officially, the United States Bullion Depository (commonly known as Fort Knox) holds over half of the Treasury’s $428 billion gold reserves.
In this graphic, we put that amount into perspective by comparing Fort Knox’s reserves with central bank gold reserves worldwide. The data comes from the U.S. Mint and the World Gold Council. For illustrative purposes, we considered a pallet of 1,190 gold bars (400 troy ounces each) weighing approximately 14.8 tonnes.
What Is Fort Knox?
Located in Kentucky, Fort Knox is a U.S. Army installation that serves as the primary storage site for America’s gold reserves. The facility was established in the 1930s to protect gold from potential foreign attacks.
The first gold shipment arrived in 1937 via U.S. Mail from the Philadelphia Mint and the New York Assay Office. During World War II, Fort Knox safeguarded important U.S. documents, including the Declaration of Independence, the Constitution, and the Bill of Rights. It has also housed international treasures, such as the Magna Carta and the crown, sword, scepter, orb, and cape of St. Stephen, King of Hungary, before they were returned in 1978.
Currently, it holds 4,175 tonnes of gold, equivalent to nearly half of China’s gold reserves and four times the Swiss central bank’s reserves.
| Reserves | Gold (Tonnes) |
|---|---|
| 🇺🇸 U.S. Reserves | 8,133 |
| 🏛️ Fort Knox | 4,175 |
| 🇨🇳 China | 2,280 |
| 🇯🇵 Japan | 846 |
| 🇨🇭 Switzerland | 1,040 |
| 🇮🇳 India | 876 |
| 🇰🇷 South Korea | 104 |
| 🇸🇬 Singapore | 220 |
| 🇧🇷 Brazil | 130 |
| 🇲🇽 Mexico | 120 |
| 🇹🇭 Thailand | 235 |
Only small samples have been removed for purity testing during audits; no major transfers have occurred for years.
Gold Bar Specifications
- Size: 7 inches × 3 5/8 inches × 1 3/4 inches
- Weight: 400 ounces (27.5 pounds)
Extreme Security
Only a select few know the full security procedures, and no single person knows how to fully open the vault.
In 1974, a group of journalists and a Congressional delegation were allowed inside—marking the first official visit since Fort Knox’s creation. Previously, President Franklin D. Roosevelt was the only person other than authorized personnel to access the vaults.
In 2017, Treasury Secretary Steve Mnuchin, Kentucky Governor Matt Bevin, and several Congressional representatives became the second group to visit the vault.
Learn More on the Voronoi App 
If gold was shared equally, how much would you get? Check out this graphic to find out.
Real Assets
Charted: Top Suppliers of Aluminum and Steel to the U.S.
President Trump has imposed a 25% tariff on all steel and aluminum imports.
Charted: Top U.S. Suppliers of Aluminum and Steel
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
U.S. President Donald Trump has imposed a 25% tariff on all steel and aluminum imports, marking one of the most discussed measures of his first month back in the White House.
But which countries are most affected by these tariffs?
This map illustrates the top suppliers of aluminum and steel to the United States in 2024. The data comes from the U.S. Census Bureau. Aluminum includes unwrought aluminum, plates, sheets, and strips; bars, rods, and profiles; foil; wire; pipes and tubes; castings and forgings; and tube or pipe fittings.
Canada: The Largest Partner
Canada is by far the top supplier of both steel and aluminum to the United States. The neighboring country exported $9.4 billion worth of aluminum to the U.S. in 2024, significantly ahead of the second-largest exporter, the European Union, which exported $1.5 billion.
Canada also exported $7.1 billion worth of steel last year, compared to $7 billion from the European Union.
| Country | Steel Imports (USD) | Aluminum Imports (USD) |
|---|---|---|
| 🇨🇦 Canada | $7.1B | $9.4B |
| 🇲🇽 Mexico | $3.5B | $397M |
| 🇧🇷 Brazil | $3.0B | - |
| 🇨🇳 China | $799M | $809M |
| 🇹🇼 Taiwan | $1.3B | - |
| 🇰🇷 South Korea | $2.9B | $781M |
| 🇩🇪 Germany | $1.9B | $318M |
| 🇯🇵 Japan | $1.7B | - |
| 🇮🇳 India | $489M | $445M |
| 🇪🇺 European Union | $7B | $1.5B |
| 🇦🇪 UAE | - | $917M |
| 🇧🇭 Bahrain | - | $535M |
| 🇦🇷 Argentina | - | $468M |
| 🇹🇭 Thailand | - | $271M |
| 🇬🇧 UK | $440M | - |
Mexico, South Korea, and Brazil are also among the top suppliers of steel to the United States. Meanwhile, the country imports aluminum from other key partners, including China, the United Arab Emirates, South Korea, Bahrain, and Argentina.
A recent report by the Center for Strategic and International Studies (CSIS) noted that the U.S. produces less than 2% of the world’s primary aluminum.
Learn More on the Voronoi App
If you enjoyed this graphic, be sure to check out this chart illustrating the GDP impact of Trump’s tariffs on China.
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