Gold production volume in Russia 2014-2023

In 2023, Russian gold production was measured at approximately 310 metric tons, having remained at the same level as in the previous year. Over the observed period, the production volume peaked in 2021. Between 2014 and 2018, the figures were increasing each year. 

Russia’s position in global gold mining

Russia plays a major role in the global gold mining industry. The country is among the three largest gold producers worldwide. In 2023, its mine production of gold was lower than that of China. In total, Russia accounted for 10 percent of global gold production in 2021. Furthermore, it was among the leading gold exporters, having supplied gold worth over seven billion U.S. dollars to other countries in 2022. 

How many gold reserves does Russia have?

Russia possesses the second-largest mine reserves of gold, which were measured at 11,100 metric tons as of 2023. That was roughly 900 metric tons lower than the reserves of Australia, which topped the ranking. Moreover, the Russian Central Bank held over 2,300 metric tons of gold reserves, which was the fifth-largest volume worldwide.