Switzerland Exported 2,777 Tonnes Of Gold In 2013

The online magazine GoldReporter.de reports that gold exports out of Switzerland rose 77 percent last year, according to fresh data from swiss authorities. Also silver exports have increased.

According to recent Swiss trade statistics, Switzerland has exported 2,777 metric tonnes of gold in 2013. Compared to a year ago, Swiss gold exports rose 76.9 percent. The average price per kilo was 42,374.50 Francs (47,459.44 USD). In absolute value, gold exports increased by 48% year-on-year.

These are the key statistics related to Swiss gold and silver exports:

  • Swiss gold imports went up 36% and 23% respectively to 3,080,45 tonnes or 109.79 Bill. Francs ($ 123 billion).
  • Switzerland imported 21,41 tonnes of gold and platin coins of which they re-exported 9.23 tonnes.
  • The country reported silver exports of 2,411.03 tonnes worth 1.71 billion Francs ($ 1.92 billion) and silver imports in the amount of 1.38 billion Francs ($ 1.55 billion).
  • Silver export rose 10 percent in dollar terms and 47 percent weight-wise. Import value fell 40 percent against 2012 figures, tonnage that was down 19 percent.

Important to know is that Switzerland is the main hub for gold coming from USA/UK going east. Gold flowing in from ETF’s is melted down and reshaped to smaller bars for the chinese and indian consumer market.

Source: GoldReporter.de

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