U.S. Gold Exports Collapsed 32%

SEATTLE (Scrap Monster): The U.S. exports of gold registered notable decline by 31.67% through March this year to total $4.13 billion. This is when compared with the exports of $6.04 billion during the corresponding three-month period last year. The exports totaled $1.22 billion for the month of March ‘19. It must be noted that the yearly exports had totaled $20.31 billion in 2018.

The top five trade partners were the UK ($2.85 billion), India ($428.96 million), Switzerland ($415.58 million), Canada ($148.2 million) and the UAE ($64.46 million). These top five export destinations accounted for nearly 95% of the total U.S. gold exports during Jan-Mar ’19. The combined exports to the above countries totaled $3.9 billion.

Meantime, the U.S. imports of gold dropped significantly by 34.23% during the opening three months of the current year. The gold imports during Jan-Mar ’19 were valued at $1.69 billion, as compared with $2.57 billion during the corresponding three-month period a year before.

The leading source of import by the U.S was Mexico. The imports from that country totaled $659.33 million, accounting for nearly 39% of the total U.S. imports. In second place was Canada ($477.18 million), followed by Colombia ($136.63 million) in third spot. The other key sources of import were Peru ($115.25 million) and Nicaragua ($90.82 million). The U.S. imported $1.48 billion worth of gold from the above top five sources, representing over 87% of the total imports during the initial quarter of 2019.