A new report released from the World Gold Council shows that the gold mining industry directly contributed around US$83.1 billion to the global economy in 2013.
The report’s analysis of the impacts of large-scale commercial gold mining in 47 gold producing countries (accounting for over 90% of the world’s gold production) shows that gold mining companies in total contributed over US$171 billion to the global economy in 2013 when the value created by support services and indirect employment is taken into consideration.
Globally, gold mining companies directly employed over one million people in 2013, with over three million more people employed as a result of the industry’s suppliers and support services.
70% of the value that gold mining companies distribute within an economy relates to payments to local suppliers and employees
The report also shows that gold mining’s direct economic contribution to the global economy has increased seven-fold from 2000 to 2013 – greater than the rise in value of gold over the same period.