U.S. Exports of Gold Rose Marginally in Jan-Oct '18

SEATTLE (Scrap Monster): The U.S. gold exports increased marginally by 4.81% during the initial ten-month period of the current year. In accordance with the data published by the U.S. Census Bureau, the exports totaled $18.05 billion in Jan-Oct ’18, upon comparison with the exports of $17.22 billion during the corresponding ten-month period in 2017. Gold was the 13^th largest exported item during this period.

Switzerland turned out to be the single largest destination of U.S. gold exports. Nearly 35% of the total gold exports by the U.S. were to that country. The exports to Switzerland surged higher significantly by more than 15% to total $6.29 billion. The gold shipment to the U.K. soared by 19% to total $4.92 billion. In third place was Hong Kong with $2.1 billion worth imports from the U.S. The other key export destinations were India ($1.67 billion) and China ($996.23 million).

The exports to the above top five foreign markets totaled $15.97 billion, accounting for more than 88% of the total U.S. exports through Oct ’18.

The country reported 10.70% decline in gold imports during the first ten months of 2018. The imports were down from $8.93 billion to $7.98 billion over the previous year. It must be noted that the imports had totaled $11.07 billion during the entire year 2017.

The primary source of import was Mexico, whose exports to the U.S. totaled $2.66 billion. Peru ($1.50 billion), Canada ($1.44 billion) were the other key suppliers of gold to the U.S. The combined imports from the above three countries totaled $5.6 billion, accounting for more than 70% of the total U.S. imports.