An economic report revealed that Saudi Arabia topped the Arab countries in the volume of gold reserves in the first quarter of 2022, followed by Lebanon and Algeria.
The report, published in the Gulf newspaper Al-Eqtisadiah and based on data from the World Gold Council, said that Saudi Arabia acquired 323.1 tons of gold, accounting for 22.9 of the total reserves of Arab countries.
The report added that the total gold reserves of Arab countries without Saudi Arabia amounted to 1412.7 tons in the first quarter.
And the quantities of Saudi gold constitute 0.91% of the global reserves of 35.59 thousand tons of gold.
America leads the world’s gold holders with 8.13 thousand tons, which constitutes 22.9% of the global reserves by the end of the first quarter of 2022.
It was said that Saudi Arabia is ranked 18th in the world after the International Monetary Fund and the European Central Bank.
Ranking of Arab countries
At the Arab level, Saudi Arabia came first, then Lebanon with reserves of 286.8 tons, equivalent to 20.3% of Arab gold reserves.
Algeria came third with 173.6 tons, equivalent to 12.3%, then Egypt fourth with 125 tons, representing 8.8%.
Libya came in fifth place with 116.6 tons, representing 8.3%, followed by Iraq with 96.4 tons, representing 6.8%, and then Kuwait with 79 tons, representing 5.6%.
As for the Emirates, which is known for its gold markets, it ranked eighth with 55.3 tons, representing 3.9%.
Qatar came in ninth with 51.3 tons, equivalent to 3.6%, and then Jordan was tenth with 43.5 tons, representing 3.1%.
Syria came in 11th place with 25.8 tons, representing 1.8%, then Morocco in 12th place with 22.1 tons, representing 1.6%.
Tunisia ranked 13th with a reserve of 6.8 tons, which constitutes 0.5%, followed by Bahrain with 4.7 tons, then Yemen with 1.6 tons.
Mauritania ranked 17th with reserves of 1.02 tons, then the Sultanate of Oman and Comoros finally, with reserves of 0.02 tons each.
America is the first
The report also stated that “the United States ranked first in the world with 8.13 thousand tons, followed by Germany with 3.36 thousand tons, and thirdly, the International Monetary Fund came with 2.81 thousand tons.
Italy came fourth with 2.45 thousand tons, France fifth with 2.44 thousand tons, followed by Russia with 2.3 thousand tons, and seventhly China came with a reserve of 1.95 thousand tons.
As for Switzerland, its gold reserves amounted to 1.04 thousand tons, ranked eighth, and Japan ranked ninth with 846 tons, then India 760 tons.
The report showed that the total global reserves of central banks of gold stabilized at the level of 35244.5 tons.
Arab countries ranked eighth
The combined reserves of Arab central banks amounted to 1374.5 tons, occupying the eighth place in the world, directly behind China.
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