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

Tue June 12 2018

 

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.

 

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.

 

Source: https://www.scrapmonster.com