Scrap Monster
Gold March 12, 2019 11:45:01 AM

U.S. Exports of Gold Tops $20 Billion in 2018

Paul Ploumis
ScrapMonster Author
The top destination of U.S. gold exports was Switzerland.

U.S. Exports of Gold Tops $20 Billion in 2018

SEATTLE (Scrap Monster): The exports of gold by the U.S. increased marginally in 2018. The latest statistics published by the U.S. Census Bureau indicates that the country’s gold exports were up marginally by 2.45% during the previous year. The 2018 exports topped $20.31 billion, as compared with $19.82 billion during the year before that.

The top destination of U.S. gold exports was Switzerland. The exports to that country increased by almost 6% year-on-year to total $6.78 billion. Almost one-third of U.S gold exports were to Switzerland. The U.K., with gold imports from the U.S. valued at $6.11 billion, was the second largest destination of exports. In third place was Hong Kong with imports totaling $2.23 billion. The other main foreign export markets were India ($1.95 billion) and Canada ($1.04 billion), the Census Bureau data said.

The shipments to the above top five foreign markets totaled $18.1 billion, accounting for 89.13% of all the U.S. gold exports.

The U.S. gold imports registered sharp decline by over 13% in 2018. The yearly imports stood at $9.63 billion in 2018, as compared with $11.07 billion in 2017. The top five sources of import were Mexico ($3.16 billion), Peru ($1.79 billion), Canada ($1.69 billion), Colombia ($615.86 million) and Brazil ($369.5 million). The cumulative imports from these five countries totaled $7.63 billion, representing more than 79% of the total imports of gold by the U.S. during 2018.

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