US Struggles in Global Gold Game, Russia and China Race Ahead, Australia and Canada Make Their Mark

International News:US President Donald Trump is in discussion around the world these days about his tariff policies. The US has increased the fees on countries like China, Russia, and India, increasing pressure on global trade. But the interesting thing is that in terms of gold production, the US is far behind countries on which it has imposed business sanctions.

Gold production ranking in 2023

'World of Statistics' has recently released the 2023 gold production data. According to this report, China became the largest producer in the world with 370 tonnes of gold. After that the names of Australia and Russia are mentioned; both produced 310 tonnes. These three countries together control a large part of the world's gold supply.

Status of America and Canada

After Australia and Russia, Canada was at number four with 200 tonnes of production. America's name comes in fifth place, where a total of 170 tonnes of gold was extracted. This figure suggests that the US lags behind Asian and Australian countries in gold mining capacity.

Countries of Asia and Africa

Kazakhstan (130 tons), Mexico (120 tons), Indonesia (110 tons), and South Africa (100 tons) are also included in this list. Uzbekistan also produced 100 tonnes. At the same time, Ghana and Peru took out 90-90 tonnes of gold. Brazil's production was 60 tonnes, which is less than the US but maintains dominance in South America.

Comparison of Brazil and South Africa

Brazil is facing tariffs, yet he produced 60 tonnes of gold in 2023. However, in this case he lags behind South Africa, where production reached 100 tonnes. African countries are low in share, but they still make their presence known in the global market.

Tariff vs Natural Resources

The Trump administration first imposed tariffs on China, but China produces more than double the amount of gold mining as the US. The same situation is from Russia and Australia. The challenge for the US is that the fee may increase revenue, but the lack of minerals and natural resources makes it weak in global competition.

Statistics clearly show that Asia and Australia dominate the production of gold. Countries like China, Russia, and Australia continue to top the list, while the US needs to strengthen its position in the region.