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Gold June 12, 2018 01:30:10 PM

U.S. Gold Imports Plummet 9% in Jan-Apr ‘18; Exports Up 11%

Paul Ploumis
ScrapMonster Author
The top three destinations of gold export from the U.S were the U.K., Switzerland and Hong Kong.
U.S. Gold Imports Plummet 9% in Jan-Apr ‘18; Exports Up 11%

SEATTLE (Scrap Monster): The latest U.S. Census Bureau data indicates fall in imports of gold by the country during the initial four months of 2018. The imports totaled $3.39 billion during this period, down by 9% when compared with the previous year. The U.S. gold imports had totaled $3.73 billion during the corresponding four-month period in 2017. It must be noted that the country’s gold imports had amounted to $11.07 billion during the entire year 2017.

The largest exporter of gold to the U.S. was Mexico. The country accounted for nearly 35% of the total monthly gold imports by the U.S. The imports from Mexico totaled $1.19 billion, registering year-on-year jump by over 19%. In second place was Canada with supplies totaling $674.05 million, closely followed by Peru with $601.79 million. The other major sources of gold imports by the U.S. were Colombia ($204.97 million), Brazil ($133.34 million) and Nicaragua ($131.59 million).

Meantime, the exports of gold by the U.S. surged higher by 11% through April this year. The imports were valued at $7.97 billion, as compared with the imports of $7.2 billion during the corresponding four-month period from January to April in 2017. Among the 1,265 export commodity groupings, gold was ranked 12. The full year 2017 gold exports had totaled $19.82 billion.

ALSO READ: WGC: Gold Demand in Q1 2018 Collapsed to Decade Low Level

The top three destinations of gold export from the U.S were the U.K., Switzerland and Hong Kong. The imports by these countries were valued at $2.73 billion, $1.74 billion and $1.67 billion respectively. The other key foreign markets were India ($659.69 million) and China ($480.32 million). The exports to these five markets totaled $7.28 billion, accounting for more than 91% of the total U.S gold exports in Jan-Apr ’18.

 

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