SAUDI ARABIA HAS THE LARGEST GOLD RESERVES IN THE ARAB WORLD,

 Riyadh - Saudi Arabia has the largest gold reserves in the Arab world, according to official figures released by the World Gold Council. Saudi Arabia has 323.1 tonnes of gold reserves. Saudi Arabia is the 18th largest gold reserve in the world. Saudi Arabia is ahead of Britain and Spain. The UK has 310.3 tonnes of gold and Spain has 281.6 tonnes. Britain is 19th and Spain is 21st.  

The world's 100 central banks have a total reserve of 35,190 tonnes of gold. The United States has the largest gold reserves. 8,133 tons. Gold accounts for 78 percent of America's reserves. Germany, in second place, has a stockpile of 3,362 tons. Gold accounts for 75.2% of Germany's total reserves. In third place is the International Monetary Fund. The IMF has a gold reserve of 2,814 tonnes. 

Saudi Arabia's gold reserves have remained unchanged for the past four years. Saudi Arabia holds 1.3 percent of the world's gold reserves. Lebanon has the second largest gold reserves in the Arab world. Lebanon has a gold reserve of 286.8 tonnes. Algeria is third with 173.6 tonnes, Libya with 116.6 tonnes, Iraq with 96.3 tonnes and Egypt with 79 tonnes. 

Saudi Arabia was ranked 15th in 2019, 18th in 2018 and 16th in 2017 in the list of countries with the highest reserves of gold globally. Saudi Arabia and Lebanon are the only countries in the Arab world to have the 20 largest reserves of gold in the world. Saudi Arabia has increased its gold production by 143 percent in five years. In 2019, Saudi Arabia produced 12,350 kg of gold. In 2015, it was only 5,090 kg.