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Protests in Hong Kong

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Russian gold imports to Hong Kong soaring with nearly eight-fold y-o-y increase — HK data

In August, Hong Kong purchased gold in Russia worth $892.3 mln, which marked a historical high for at least the past 11 years

HONG KONG, October 31. /TASS/. Imports of gold from Russia to Hong Kong skyrocketed in January-September 2023, jumping 7.5 times year on year to total 33.72 bln Hong Kong dollars (HKD) (about $4.3 bln), according to TASS estimates based on data from the Hong Kong Census and Statistics Department.

According to the latest data, Russian gold deliveries to Hong Kong soared by fully 264.1% year on year to HKD 6.37 bln (about $816.7 mln) in September 2023. This is the second-largest figure over the past 11 years (historical data on the Census Department’s website date back only to 2012).

Since the end of spring 2023, Russian gold supplies to Hong Kong have regularly set new records that exceed figures from more than a decade ago. They totaled about $408.59 mln in May, $485.9 mln in June, and $747.44 mln in July. In August, Hong Kong purchased gold in Russia worth $892.3 mln, which marked a historical high for at least the past 11 years.

Hong Kong gold imports from Russia totaled HKD 7.54 bln (c. $966.2 mln) for all of 2022.

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