trade · indicator
Foreign-exchange reserves excluding gold holdings, in current US dollars.
How it’s forecast
FX reserves ex-gold uses a weighted composite model with a 8-year lookback, 60% recent-data weight, 80% confidence band, and horizons of 1, 3, 5, 10 years.
Why it matters
Higher readings are generally healthier for this metric.
Trajectory
No global history or forecast exists for this indicator yet.
Before consensus
Countries whose latest reading deviates most from their own recent trend.
Rankings
By country
Observed history with a baseline / optimistic / pessimistic forecast for the largest current readings.
Forecast
Per-country latest reading and baseline forecast across horizons.
| Country | Latest | Year | 1y | 3y | 5y | 10y |
|---|---|---|---|---|---|---|
| Afghanistan | 8.4B | 2020 | 8.7B | 9.3B | 10.0B | 11.7B |
| Albania | 8.1B | 2025 | 8.7B | 10.2B | 11.7B | 15.5B |
| Algeria | 48.1B | 2025 | 45.8B | 39.6B | 33.4B | 17.9B |
| Angola | 13.5B | 2025 | 13.5B | 13.2B | 13.0B | 12.4B |
| Antigua and Barbuda | 0.4B | 2025 | 0.4B | 0.4B | 0.4B | 0.4B |
| Argentina | 32.3B | 2025 | 29.6B | 23.7B | 17.8B | 2.9B |
| Armenia | 5.1B | 2025 | 5.3B | 5.9B | 6.6B | 8.1B |
| Aruba | 1.8B | 2025 | 1.9B | 2.2B | 2.5B | 3.3B |
| Australia | 62.1B | 2025 | 63.6B | 67.7B | 71.7B | 81.9B |
| Austria | 14.1B | 2025 | 13.7B | 12.9B | 12.0B | 10.0B |
| Azerbaijan | 13.6B | 2025 | 14.1B | 15.7B | 17.3B | 21.3B |
| Bahamas, The | 2.6B | 2024 | 2.7B | 2.9B | 3.2B | 3.7B |
| Bahrain | 4.6B | 2025 | 4.7B | 5.0B | 5.3B | 6.0B |
| Bangladesh | 26.6B | 2025 | 24.9B | 20.9B | 16.9B | 6.8B |
| Barbados | 1.7B | 2024 | 1.7B | 1.9B | 2.1B | 2.5B |
| Belarus | 6.9B | 2025 | 7.2B | 8.0B | 8.7B | 10.6B |
| Belgium | 24.5B | 2025 | 23.9B | 22.8B | 21.8B | 19.1B |
| Belize | 0.6B | 2025 | 0.6B | 0.6B | 0.7B | 0.9B |
| Bhutan | 1.2B | 2025 | 1.2B | 1.4B | 1.5B | 1.8B |
| Bolivia | 0.6B | 2025 | 0.2B | 0.0B | 0.0B | 0.0B |
| Bosnia and Herzegovina | 9.1B | 2024 | 9.2B | 9.6B | 9.9B | 10.8B |
| Botswana | 3.5B | 2024 | 3.1B | 2.3B | 1.5B | 0.0B |
| Brazil | 334.3B | 2025 | 334.0B | 332.2B | 330.4B | 325.9B |
| Brunei | 4.8B | 2025 | 4.9B | 5.0B | 5.1B | 5.5B |
| Bulgaria | 41.1B | 2025 | 42.0B | 44.4B | 46.8B | 52.7B |
| Burundi | 0.1B | 2023 | 0.1B | 0.1B | 0.1B | 0.1B |
| Cabo Verde | 1.3B | 2025 | 1.4B | 1.6B | 1.9B | 2.5B |
| Cambodia | 19.9B | 2025 | 20.9B | 23.4B | 25.9B | 32.1B |
| Cameroon | 5.1B | 2024 | 5.3B | 5.7B | 6.2B | 7.4B |
| Canada | 125.6B | 2025 | 130.5B | 142.6B | 154.8B | 185.3B |
| Cayman Islands | 0.3B | 2024 | 0.3B | 0.3B | 0.3B | 0.4B |
| Central African Republic | 0.5B | 2024 | 0.5B | 0.5B | 0.6B | 0.6B |
| Chad | 1.5B | 2024 | 1.8B | 2.5B | 3.1B | 4.7B |
| Chile | 49.4B | 2025 | 51.3B | 55.7B | 60.0B | 71.0B |
| China | 3,424.9B | 2025 | 3,468.8B | 3,578.5B | 3,688.1B | 3,962.2B |
| Colombia | 65.1B | 2025 | 67.2B | 72.3B | 77.5B | 90.2B |
| Comoros | 0.4B | 2025 | 0.4B | 0.5B | 0.6B | 0.7B |
| Congo | 0.8B | 2024 | 0.8B | 0.7B | 0.7B | 0.7B |
| Costa Rica | 17.1B | 2025 | 18.8B | 23.1B | 27.3B | 38.0B |
| Croatia | 4.2B | 2025 | 0.0B | 0.0B | 0.0B | 0.0B |
| Cuba | 0.1B | 1960 | 0.1B | 0.1B | 0.1B | 0.1B |
| Cyprus | 1.0B | 2025 | 1.1B | 1.2B | 1.3B | 1.7B |
| Czechia | 166.3B | 2025 | 170.3B | 179.8B | 189.4B | 213.3B |
| DR Congo | 5.1B | 2023 | 6.0B | 8.3B | 10.5B | 16.0B |
| Denmark | 118.4B | 2025 | 124.3B | 139.9B | 155.4B | 194.4B |
| Djibouti | 0.7B | 2025 | 0.7B | 0.7B | 0.7B | 0.7B |
| Dominica | 0.2B | 2025 | 0.2B | 0.1B | 0.1B | 0.1B |
| Dominican Republic | 14.7B | 2025 | 14.9B | 15.5B | 16.2B | 17.8B |
| Ecuador | 6.1B | 2025 | 6.2B | 6.7B | 7.1B | 8.3B |
| Egypt | 30.7B | 2025 | 31.9B | 33.9B | 36.0B | 41.2B |
| El Salvador | 4.6B | 2025 | 4.9B | 5.7B | 6.5B | 8.5B |
| Equatorial Guinea | 1.1B | 2024 | 1.3B | 1.9B | 2.4B | 3.9B |
| Eritrea | 0.2B | 2019 | 0.2B | 0.2B | 0.2B | 0.3B |
| Estonia | 2.4B | 2025 | 2.5B | 2.6B | 2.8B | 3.2B |
| Eswatini | 0.5B | 2024 | 0.5B | 0.5B | 0.5B | 0.5B |
| Ethiopia | 3.8B | 2024 | 4.1B | 4.9B | 5.6B | 7.5B |
| Fiji | 1.7B | 2025 | 1.7B | 1.8B | 2.0B | 2.3B |
| Finland | 16.3B | 2025 | 17.1B | 19.2B | 21.3B | 26.5B |
| France | 86.0B | 2025 | 84.0B | 80.5B | 77.1B | 68.4B |
| Gabon | 0.6B | 2024 | 0.5B | 0.3B | 0.0B | 0.0B |
| Gambia, The | 0.6B | 2024 | 0.6B | 0.7B | 0.7B | 0.9B |
| Georgia | 5.2B | 2025 | 5.2B | 5.3B | 5.4B | 5.8B |
| Germany | 101.7B | 2025 | 103.9B | 110.4B | 116.8B | 132.8B |
| Ghana | 4.5B | 2024 | 3.4B | 1.1B | 0.0B | 0.0B |
| Greece | 7.9B | 2025 | 8.5B | 9.8B | 11.1B | 14.4B |
| Grenada | 0.4B | 2025 | 0.4B | 0.5B | 0.5B | 0.6B |
| Guatemala | 30.9B | 2025 | 33.3B | 39.4B | 45.4B | 60.5B |
| Guinea | 0.8B | 2024 | 0.6B | 0.1B | 0.0B | 0.0B |
| Guyana | 1.4B | 2025 | 1.5B | 1.7B | 2.0B | 2.6B |
| Haiti | 3.1B | 2025 | 3.3B | 3.8B | 4.3B | 5.5B |
| Honduras | 10.1B | 2025 | 10.5B | 11.7B | 12.8B | 15.6B |
| Hong Kong | 425.4B | 2023 | 412.4B | 384.6B | 356.8B | 287.4B |
| Hungary | 43.6B | 2025 | 45.1B | 48.9B | 52.7B | 62.2B |
| Iceland | 7.5B | 2025 | 7.7B | 8.4B | 9.1B | 10.9B |
| India | 576.4B | 2025 | 592.9B | 632.2B | 671.4B | 769.5B |
| Indonesia | 144.5B | 2025 | 148.2B | 156.6B | 164.9B | 185.9B |
| Iran | 5.7B | 1982 | 3.4B | 0.0B | 0.0B | 0.0B |
| Iraq | 87.0B | 2024 | 94.7B | 112.2B | 129.6B | 173.3B |
| Ireland | 12.0B | 2025 | 12.2B | 12.9B | 13.6B | 15.4B |
| Israel | 229.5B | 2025 | 240.0B | 266.4B | 292.8B | 358.9B |
| Italy | 89.7B | 2025 | 92.5B | 100.0B | 107.5B | 126.2B |
| Jamaica | 6.3B | 2025 | 6.7B | 7.8B | 8.8B | 11.4B |
| Japan | 1,252.6B | 2025 | 1,256.6B | 1,264.1B | 1,271.7B | 1,290.5B |
| Jordan | 16.3B | 2025 | 16.9B | 18.2B | 19.6B | 22.9B |
| Kazakhstan | 18.2B | 2025 | 19.4B | 22.2B | 25.0B | 32.0B |
| Kenya | 12.4B | 2025 | 13.3B | 15.5B | 17.7B | 23.2B |
| Kosovo | 1.5B | 2025 | 1.6B | 1.7B | 1.9B | 2.3B |
| Kuwait | 40.6B | 2025 | 39.6B | 37.0B | 34.5B | 28.1B |
| Kyrgyz Republic | 1.9B | 2024 | 1.8B | 1.6B | 1.5B | 1.0B |
| Laos | 2.2B | 2024 | 2.3B | 2.5B | 2.8B | 3.4B |
| Latvia | 5.2B | 2025 | 5.4B | 5.8B | 6.3B | 7.5B |
| Lebanon | 9.2B | 2024 | 5.8B | 0.0B | 0.0B | 0.0B |
| Lesotho | 1.0B | 2024 | 1.1B | 1.2B | 1.3B | 1.6B |
| Liberia | 0.3B | 2025 | 0.3B | 0.2B | 0.1B | 0.0B |
| Libya | 84.1B | 2025 | 84.7B | 86.6B | 88.5B | 93.3B |
| Lithuania | 6.2B | 2025 | 6.6B | 7.3B | 8.1B | 10.0B |
| Luxembourg | 2.7B | 2025 | 2.8B | 3.0B | 3.3B | 3.8B |
| Macao | 30.6B | 2025 | 31.8B | 34.8B | 37.8B | 45.2B |
| Madagascar | 2.8B | 2024 | 2.9B | 3.3B | 3.6B | 4.5B |
| Malawi | 0.6B | 2020 | 0.6B | 0.6B | 0.5B | 0.5B |
| Malaysia | 120.2B | 2025 | 122.1B | 127.2B | 132.2B | 144.9B |
| Maldives | 1.0B | 2025 | 1.0B | 1.1B | 1.1B | 1.3B |
| Malta | 1.5B | 2025 | 1.6B | 1.8B | 2.0B | 2.4B |
| Mauritania | 2.0B | 2021 | 2.3B | 2.9B | 3.5B | 4.9B |
| Mauritius | 8.6B | 2025 | 8.9B | 9.8B | 10.6B | 12.8B |
| Mexico | 239.3B | 2025 | 249.5B | 274.7B | 299.8B | 362.7B |
| Micronesia, Fed. Sts. | 0.5B | 2021 | 0.6B | 0.7B | 0.9B | 1.3B |
| Moldova | 6.0B | 2025 | 6.4B | 7.3B | 8.2B | 10.5B |
| Mongolia | 5.9B | 2025 | 6.5B | 7.9B | 9.3B | 12.7B |
| Montenegro | 2.2B | 2025 | 2.2B | 2.4B | 2.5B | 2.9B |
| Morocco | 45.3B | 2025 | 48.2B | 55.3B | 62.4B | 80.1B |
| Mozambique | 3.5B | 2024 | 3.5B | 3.6B | 3.7B | 3.9B |
| Myanmar | 8.9B | 2023 | 9.2B | 10.2B | 11.2B | 13.7B |
| Namibia | 3.1B | 2025 | 3.2B | 3.5B | 3.8B | 4.6B |
| Nepal | 20.0B | 2025 | 22.2B | 27.8B | 33.3B | 47.1B |
| Netherlands | 32.1B | 2025 | 33.4B | 37.1B | 40.8B | 50.0B |
| New Zealand | 28.2B | 2025 | 30.9B | 37.6B | 44.2B | 60.9B |
| Nicaragua | 8.3B | 2025 | 9.2B | 11.3B | 13.4B | 18.8B |
| Nigeria | 43.0B | 2025 | 44.4B | 47.7B | 51.0B | 59.3B |
| North Macedonia | 4.8B | 2025 | 5.1B | 5.7B | 6.4B | 7.9B |
| Norway | 85.5B | 2025 | 88.5B | 95.6B | 102.8B | 120.6B |
| Oman | 17.7B | 2024 | 17.4B | 16.8B | 16.3B | 14.8B |
| Pakistan | 17.4B | 2025 | 19.4B | 24.2B | 28.9B | 40.6B |
| Panama | 6.2B | 2025 | 6.3B | 6.4B | 6.5B | 6.9B |
| Papua New Guinea | 3.5B | 2024 | 3.7B | 4.1B | 4.4B | 5.4B |
| Paraguay | 8.9B | 2024 | 8.9B | 9.1B | 9.3B | 9.7B |
| Peru | 85.5B | 2025 | 88.9B | 97.3B | 105.7B | 126.8B |
| Philippines | 92.3B | 2025 | 94.1B | 98.2B | 102.3B | 112.4B |
| Poland | 194.5B | 2025 | 205.2B | 231.5B | 257.9B | 323.7B |
| Portugal | 15.1B | 2025 | 16.1B | 18.7B | 21.3B | 27.8B |
| Qatar | 39.7B | 2025 | 39.9B | 40.3B | 40.7B | 41.7B |
| Romania | 76.1B | 2025 | 81.6B | 95.4B | 109.2B | 143.7B |
| Russia | 412.7B | 2024 | 401.8B | 377.9B | 354.1B | 294.5B |
| Rwanda | 2.0B | 2025 | 2.1B | 2.3B | 2.6B | 3.2B |
| Samoa | 0.6B | 2025 | 0.7B | 0.8B | 1.0B | 1.4B |
| San Marino | 0.9B | 2025 | 0.9B | 1.0B | 1.1B | 1.3B |
| Sao Tome and Principe | 0.1B | 2024 | 0.1B | 0.0B | 0.0B | 0.0B |
| Saudi Arabia | 459.8B | 2025 | 457.1B | 451.4B | 445.8B | 431.6B |
| Serbia | 26.8B | 2025 | 28.9B | 34.0B | 39.1B | 51.8B |
| Seychelles | 0.8B | 2024 | 0.8B | 0.8B | 0.9B | 1.0B |
| Sierra Leone | 0.4B | 2024 | 0.3B | 0.1B | 0.0B | 0.0B |
| Singapore | 404.9B | 2025 | 428.7B | 483.7B | 538.6B | 675.9B |
| Slovakia | 13.7B | 2025 | 15.0B | 18.2B | 21.4B | 29.5B |
| Slovenia | 3.0B | 2025 | 3.2B | 3.8B | 4.4B | 6.0B |
| Solomon Islands | 0.7B | 2024 | 0.7B | 0.7B | 0.7B | 0.8B |
| Somalia, Fed. Rep. | 0.0B | 1989 | 0.0B | 0.0B | 0.0B | 0.0B |
| South Africa | 58.4B | 2025 | 59.6B | 62.9B | 66.1B | 74.2B |
| South Korea | 421.9B | 2025 | 422.7B | 424.6B | 426.5B | 431.3B |
| South Sudan | 0.0B | 2024 | 0.0B | 0.0B | 0.0B | 0.0B |
| Spain | 89.1B | 2025 | 92.3B | 100.4B | 108.6B | 129.1B |
| Sri Lanka | 6.1B | 2024 | 6.5B | 7.7B | 8.8B | 11.5B |
| St. Kitts and Nevis | 0.3B | 2025 | 0.3B | 0.3B | 0.2B | 0.2B |
| St. Lucia | 0.4B | 2025 | 0.5B | 0.5B | 0.5B | 0.6B |
| St. Vincent and the Grenadines | 0.3B | 2025 | 0.3B | 0.3B | 0.3B | 0.3B |
| Sudan | 0.2B | 2017 | 0.2B | 0.1B | 0.0B | 0.0B |
| Suriname | 1.4B | 2025 | 1.6B | 1.8B | 2.1B | 2.8B |
| Sweden | 56.5B | 2025 | 56.4B | 56.5B | 56.5B | 56.7B |
| Switzerland | 929.6B | 2025 | 942.7B | 975.0B | 1,007.2B | 1,087.9B |
| Syria | 19.5B | 2010 | 20.6B | 23.6B | 26.7B | 34.2B |
| Tajikistan | 4.3B | 2025 | 4.6B | 5.5B | 6.3B | 8.5B |
| Tanzania | 5.0B | 2018 | 5.4B | 6.1B | 6.8B | 8.5B |
| Thailand | 249.3B | 2025 | 257.6B | 277.6B | 297.5B | 347.4B |
| Timor-Leste | 0.9B | 2025 | 0.9B | 0.9B | 0.9B | 0.9B |
| Tonga | 0.4B | 2025 | 0.4B | 0.5B | 0.5B | 0.6B |
| Trinidad and Tobago | 5.4B | 2024 | 5.1B | 4.3B | 3.5B | 1.5B |
| Tunisia | 8.8B | 2024 | 9.0B | 9.6B | 10.2B | 11.7B |
| Turkmenistan | 1.5B | 1999 | 1.6B | 1.8B | 2.1B | 2.6B |
| Türkiye | 71.6B | 2025 | 70.7B | 68.2B | 65.8B | 59.6B |
| Uganda | 3.5B | 2024 | 3.3B | 2.8B | 2.3B | 1.2B |
| Ukraine | 53.4B | 2025 | 58.8B | 72.0B | 85.3B | 118.4B |
| United Arab Emirates | 281.9B | 2025 | 314.1B | 393.5B | 472.8B | 671.2B |
| United Kingdom | 170.8B | 2025 | 171.9B | 175.3B | 178.7B | 187.3B |
| United States | 243.3B | 2025 | 250.1B | 269.7B | 289.3B | 338.3B |
| Uruguay | 19.0B | 2025 | 19.8B | 21.6B | 23.5B | 28.2B |
| Uzbekistan | 9.1B | 2024 | 8.0B | 5.4B | 2.8B | 0.0B |
| Vanuatu | 0.6B | 2024 | 0.6B | 0.6B | 0.6B | 0.7B |
| Venezuela | 3.0B | 2017 | 1.8B | 0.0B | 0.0B | 0.0B |
| Vietnam | 85.6B | 2025 | 85.8B | 86.3B | 86.8B | 88.1B |
| West Bank and Gaza | 1.8B | 2025 | 2.0B | 2.5B | 3.0B | 4.1B |
| Yemen, Rep. | 1.3B | 2022 | 1.2B | 1.2B | 1.2B | 1.0B |
| Zambia | 4.1B | 2024 | 4.4B | 5.2B | 5.9B | 7.9B |
| Zimbabwe | 0.3B | 2024 | 0.1B | 0.0B | 0.0B | 0.0B |
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Sources
FX reserves ex-gold uses a weighted composite model with a 8-year lookback, 60% recent-data weight, 80% confidence band, and horizons of 1, 3, 5, 10 years.
