What are the monthly Gold Imports for the year 2025 of Russia?
Russia’s Monthly Gold Imports in 2025: What We Know
Overview
Unfortunately, specific monthly figures for Russia’s gold imports in 2025 are not publicly available from authoritative data sources as of now. Russia is a major global gold producer, and its trade dynamics are shaped largely by exports, particularly to China, rather than imports.
What Has Been Reported
1. Gold Output Trends
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Production, not imports: Russia’s gold production rose by about 9.1% in February 2025 compared to February 2024, and soared 69.1% compared to January 2025.
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In April 2025, gold output was up 8% year-on-year, although slightly lower than in March.
This highlights Russia’s status as a net exporter of gold, with limited need for imports.
2. Precious Metals Exports to China
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In the first half of 2025, Russia’s exports of precious metals—including gold, silver, and ores—to China nearly doubled, reaching $1 billion, a ~80% surge compared to the same period last year.
This further reinforces that Russia is actively exporting gold, rather than importing it.
3. National Wealth Fund Holding of Gold
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According to CEIC data, the National Wealth Fund’s gold holdings—a proxy for state-level accumulation—declined from 187.75 million grams in December 2024 to 179 million grams in January 2025, and stayed at that level into February.
A reduction in this fund’s gold holdings could suggest net outflows or reduced accumulation, not imports.
4. Russia’s Official Gold Reserves
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Russia’s gold reserves (as valued in USD) rose from approximately $206.53 billion in January 2025 to $217.38 billion in February 2025, marking a record high.
This could reflect changes in market valuation of existing holdings as much as actual physical buying or selling.
Summary Table
| Metric | Information Available for 2025 |
|---|---|
| Monthly gold import data | Not publicly available |
| Domestic gold production | February: +9.1% YoY; April: +8% YoY |
| Precious metals exports to China | First half: doubled to ~$1B (≈ +80%) |
| National Wealth Fund gold holdings | Declined Jan–Feb 2025 (187.75 → 179 million g) |
| Official gold reserves (USD value) | Rose Jan → Feb to record high (~$217B) |
Insights & Interpretation
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Lack of import data suggests that Russia is not a significant importer of gold in 2025. Rather, the focus is on gold production and exports.
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Rising exports to China indicate growing reliance on Asian markets amid Western sanctions.
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The dip in the National Wealth Fund’s gold holdings, coupled with rising USD-valued reserves, may signal revaluation effects or strategic reallocation rather than new imports.
Final Thoughts
As of now, no comprehensive data exists for Russia’s monthly gold imports in 2025—likely because imports play a minimal role in Russia’s gold sector. Instead, analysts point to strong domestic output, record exports (especially to China), and shifts in reserves and state holdings as the key dynamics shaping Russia’s gold profile in the first half of 2025.
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