KUWAIT RANKS SEVENTH IN ARAB WORLD IN TERMS OF GOLD RESERVES, AND SECOND IN GULF

  • 14/09/2022

Kuwait City: Kuwait ranked seventh in the Arab world and second among Gulf Cooperation Council countries in terms of central bank gold reserves, which totaled approximately 79 tonnes at the end of July last year, accounting for 8.7 percent of total reserves. According to World Gold Council statistics, Saudi Arabia topped the Arab world in terms of gold reserves volume (323.1 tonnes), which constitutes only 3.8 percent of its total reserves of foreign assets, placing the country in the 18th rank globally, followed by Lebanon in second place in the Arab world and 20th globally, with reserves 286.8 tonnes of gold at the end of July, equivalent to 50.3 percent of Lebanon's reserves of foreign assets.


Algeria ranked third in the Arab world with 173.6 tons of gold, representing 16 percent of reserves, ranking 26th globally, followed by Iraq in fourth place, possessing 130.4 tons, representing 9.5 percent of total reserves, ranking 30th globally.

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