WGC: Vietnam is world's seventh largest gold consumer
The World Gold Council (WGC) ranked Vietnam as the world's seventh largest gold consumer last year, with 69.1 tonnes worth US$2.817 billion, a year-on-year decrease of 29% in volume and 36% in value.
The World Gold Council (WGC) ranked Vietnam as the world's seventh largest gold consumer last year, with 69.1 tonnes worth US$2.817 billion, a year-on-year decrease of 29% in volume and 36% in value.
Of the total, gold jewellery accounted for 12.7 tonnes worth US$519 million, up 4% in volume but down 8% in value compared to 2013. Meanwhile, the consumption of gold bars and coins reached 56.4 tonnes worth US$2.298 billion, down 33% in volume and 40% in value against 2013.
WGC also reported that global gold consumption reached 3,216.6 tonnes last year, a year-on-year decline of 22%.
India remained the world's top gold consumer in the fourth quarter of 2014 with 223.2 tonnes, up 2% against the same period of 2013. It was followed by China (excluding Hong Kong and Taiwan) with 183.5 tonnes (down 28%), Japan, Indonesia, the Republic of Korea (RoK) and Thailand.
