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Gold October 16, 2019 07:30:25 AM

U.S. Exports of Gold Decreased 24% Until August

Paul Ploumis
ScrapMonster Author
The monthly exports totalled $1.55 billion in the month of August ‘19.

U.S. Exports of Gold Decreased 24% Until August

SEATTLE (Scrap Monster): The U.S. exports of gold recorded substantial decline by over 24% through August this year to total $10.64 billion. This is upon comparison with the exports of $14.05 billion during the corresponding eight months in 2018. The monthly exports totalled $1.55 billion in the month of August ‘19.

The top five trade partners were the UK ($6.76 billion), Switzerland ($1.48 billion), India ($1.05 billion), Canada ($415.7 million) and Italy ($300.6 million). The U.S. exports to the UK increased by nearly 60% when matched with the previous year. Almost 94% of all gold exports from the U.S. were shipped to the above five foreign markets. The combined exports to the above countries totalled $10.01 billion.

ALSO READ: Tanzania Gold Export Earnings Witnessed Massive Surge

Meantime, the U.S. imports of gold dropped significantly by 22.30% during the opening eight months of the current year. The gold imports during Jan-Aug ’19 were valued at $5.16 billion, as compared with $6.64 billion during the corresponding eight-month period a year before.

The leading source of import by the U.S was Mexico. The imports from that country totalled $1.89 billion, accounting for nearly 37% of the total imports by the country. In second place was Canada ($1.38 billion), followed by Colombia ($298.08 million) in third spot. The other primary sources of import were Peru ($289.96 million) and Nicaragua ($286.47 million). The U.S. imported $4.14 billion worth of gold from the above countries, accounting for over 80% of the total imports in Jan-Aug ’19.

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