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Gold January 10, 2020 04:30:18 PM

U.S. Gold Exports Declined 19%

Paul Ploumis
ScrapMonster Author
The top foreign market for U.S. gold exports was the U.K.

U.S. Gold Exports Declined 19%

SEATTLE (Scrap Monster): The U.S. exports of gold dropped significantly by over 19% through November last year. The trade data released by the U.S. Census Bureau indicates that the country’s gold exports totalled $15.41 billion during Jan-Nov ’19, down 19.46% when matched with the exports of $19.14 billion during the corresponding eleven-month period in 2018.

The top foreign market for U.S. gold exports was the U.K. The country received approximately $9.92 billion worth of gold from the U.S., representing more than 64% share 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 $2.09 billion. In third place was India with total imports of gold worth $1.34 billion from the U.S. The other largest export destinations were Canada ($649.52 million) and Italy ($519.03 million).

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The U.S. gold imports too dropped considerably by nearly 12% to total $7.70 billion through November in 2019. This compares with the import of $8.73 billion from January to November in 2018.

The leading source of gold imports by the U.S. was Mexico. The country accounted for almost 35% of all imports by the U.S. Meanwhile, the imports from Mexico were down by 7.5% to total $2.66 billion. The second largest gold exporter to the U.S. was Canada. The country’s gold imports from Canada totalled $1.76 billion. The other key sources of import were Switzerland ($881.62 million), Colombia ($465.64 million) and Nicaragua ($420.01 million).

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