SEATTLE (Scrap Monster): The U.S. exports of gold dropped significantly by over 15% in 2019. The trade data released by the U.S. Census Bureau indicates that the country’s gold exports were valued at $17.17 billion, as compared with $20.31 million in 2018.
The top destination market was the U.K. The country received approximately $10.8 billion worth of gold from the U.S., accounting for nearly 63% of all U.S. shipments. The second largest destination of gold exports from the U.S. was Switzerland. The exports to that country were valued at $2.58 billion. In third place was India with total imports of $1.51 billion from the U.S. The other primary export destinations were Canada ($694.77 million) and Italy ($576.49 million).
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The U.S. gold imports have increased marginally by 0.57% year-on-year to total $9.68 billion in 2019. This compares with the import of $9.63 billion during the prior year.
The leading source of imports was Mexico. The country supplied $2.95 billion worth of gold, accounting for over 30% of all imports by the U.S. Meanwhile, the imports from Mexico were down by almost 7%. The second largest gold exporter to the U.S. was Canada. The country’s gold imports from Canada totalled $2.52 billion. In third place was Switzerland with $1.21 billion worth of gold supplies.