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Gold July 05, 2019 10:30:01 AM

U.S. Gold Exports Declined Substantially Through May

Paul Ploumis
ScrapMonster Author
The primary source of gold import by the U.S was Mexico.

U.S. Gold Exports Declined Substantially Through May

SEATTLE (Scrap Monster): The U.S. exports of gold recorded sharp decline by 27.69% during the initial five months of the current year. The exports during this period totaled $6.65 billion. This is upon comparison with the exports of $9.20 billion during the corresponding five-month period in 2018. For the month of May ’19 alone, the U.S. gold exports totaled $1.1 billion. The full year exports had totaled $20.31 billion in 2018.

The top five market destinations for U.S. gold exports were the UK ($4.15 billion), Switzerland ($976.73 million), India ($841.48 million), Canada ($201.48 million) and the UAE ($124.2 million). These top five trade partners accounted for nearly 94.58% of the total U.S. gold exports during Jan-May ’19. The cumulative exports to the above countries totaled $6.29 billion out of the total exports of $6.65 billion.

Meantime, the U.S. imports of gold witnessed notable decline by 37.38% during the opening five months of the current year. The gold imports from January to May in 2019 were valued at $2.68 billion, as compared with $4.29 billion during the corresponding five-month period a year before.

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The primary source of gold import by the U.S was Mexico. The imports from that country totaled $1.08 billion, accounting for just over 40% of the total U.S. imports. In second place was Canada, which supplied $661.02 million worth of gold to the U.S, followed by Colombia in third place. The imports from Colombia totaled $195.4 million. The other key sources of import were Peru ($185.36 million) and Nicaragua ($154.27 million). The imports from the above countries accounted for nearly 85% of all imports by the U.S. during Jan-May ’19.

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