From 2005 to 2015, global gold production maintained a fluctuating upward trend. In 2015, global gold production reached 3,038.8 tons, an increase of 0.9% compared to 2014 (Figure 1).

Figure 1: Trend Chart of Global Gold Production Changes

Source: World Metal Statistics, Yearbook 2006-2016 (World Metal Data Statistics, 2006-2016 Yearbook)

　　In 2015, the countries with the highest production volumes were China (450.1 tons, accounting for 14.8% of global total production), Australia (278 tons, accounting for 9.2% of global total production), Russia (249 tons, accounting for 8.2% of global total production), the United States (212.3 tons, accounting for 7.0% of global total production), and Canada (159 tons, accounting for 5.2% of global total production). Compared to 2014, Indonesia recorded the largest increase in production, at 40.1%; Ghana experienced the largest decrease, with a reduction of 33.1% (Table-1).

Table 1: World Gold Production from 2008 to 2015, Unit: Tons

Source: World Metal Statistics, Yearbook 2009–2016 (World Metal Data Statistics, 2009–2016 Annual)

　　The global supply of gold primarily comprises the following components: newly mined gold from gold-producing countries around the world; recycled gold recovered through reprocessing; and gold sold off by official institutions in certain countries (such as central bank gold reserves and the International Monetary Fund) as well as by private entities. According to statistics from the World Gold Council, the global gold supply in 2015 totaled 4,258.3 tons, a decrease of 155.6 tons compared to the previous year, mainly reflecting an increase in mined gold and a decline in recycled gold (Table-2).

Table 2: Global Gold Supply Structure from 2008 to 2015, Unit: Tons (Gold)

Source: World Gold Council

　　Over the past 30-plus years since China’s reform and opening-up, the gold industry has experienced rapid development, with an average annual growth rate of around 10.0%. In 1978, China’s gold production stood at only 19.7 tons; by 2007, it had surged to 270.5 tons, surpassing South Africa for the first time and becoming the world’s largest gold producer—a position it has held ever since. According to the latest statistics from the China Gold Association, in 2015, China’s gold production reached 450 tons, a decrease of 0.4% from the previous year, yet maintaining its position as the world’s number one for the ninth consecutive year (Figure-2).

Figure 2: China’s Gold Production from 2001 to 2015

Source: China Gold Association

　　China’s gold production is relatively concentrated geographically. The top eight provinces (or autonomous regions) in terms of output—Shandong, Henan, Inner Mongolia, Shaanxi, Xinjiang, Yunnan, Hunan, and Gansu—account for 55.2% of the nation’s total gold production (Figure-3).

Figure 3: Distribution of Gold Production in China