2026 Jan-Jul U.S. Exports of 7108135000 - Product Review
Semimanufactured nonmonetary gold, excluding gold leaf. January-July 2026. Source: gTradeData.
Executive Summary
Exports were concentrated in the early months and in a small number of destinations. March marked the peak at $12.63B. July fell to $2.15B, while New York City accounted for 96.1% of the seven-month export value.
Total exports reached $49.37B. July value was 61.1% below January. Reported quantity declined 54.4% over the same comparison, while value per reported unit fell from $148.51 to $126.72.
1. Monthly Export Data
| Month | Export USD | Reported quantity | USD per reported unit | Value MoM |
|---|---|---|---|---|
| 2026-01 | 5,526,653,333 | 37,213,790 | $148.51 | n/a |
| 2026-02 | 11,126,069,211 | 69,897,266 | $159.18 | +101.32% |
| 2026-03 | 12,630,584,573 | 78,221,779 | $161.47 | +13.52% |
| 2026-04 | 10,209,996,165 | 67,381,340 | $151.53 | -19.16% |
| 2026-05 | 2,667,894,315 | 18,006,862 | $148.16 | -73.87% |
| 2026-06 | 5,056,519,862 | 36,766,904 | $137.53 | +89.53% |
| 2026-07 | 2,149,610,163 | 16,963,642 | $126.72 | -57.49% |
| Total | 49,367,327,622 | 324,451,583 | $152.16 | n/a |
February and March brought successive increases in export value. April remained above $10B, followed by a sharp contraction in May. June recovered to $5.06B before exports fell again in July. This uneven pattern calls for shipment and destination detail before treating any single month as a durable trend.
2. Leading Destination Markets
| Rank | Market or district | Export USD | Reported quantity | Value share | USD per unit |
|---|---|---|---|---|---|
| 1 | Switzerland (CH) | 28,407,305,588 | 187,841,081 | 57.54% | $151.23 |
| 2 | Hong Kong,China (HK) | 11,001,581,589 | 72,174,367 | 22.29% | $152.43 |
| 3 | United Kingdom (GB) | 5,034,854,074 | 32,196,099 | 10.20% | $156.38 |
| 4 | Singapore (SG) | 2,319,820,990 | 14,964,870 | 4.70% | $155.02 |
| 5 | India (IN) | 1,639,146,414 | 10,779,970 | 3.32% | $152.05 |
| 6 | Thailand (TH) | 329,049,740 | 2,010,344 | 0.67% | $163.68 |
| 7 | United Arab Emirates (AE) | 162,945,293 | 1,208,693 | 0.33% | $134.81 |
| 8 | Australia (AU) | 94,782,988 | 599,988 | 0.19% | $157.97 |
| 9 | Turkey (TR) | 65,330,935 | 438,119 | 0.13% | $149.12 |
| 10 | Germany (DE) | 63,845,333 | 455,336 | 0.13% | $140.22 |
3. Leading Export Districts
| Rank | Market or district | Export USD | Reported quantity | Value share | USD per unit |
|---|---|---|---|---|---|
| 1 | NEW YORK CITY, NY | 47,451,716,378 | 311,818,289 | 96.12% | $152.18 |
| 2 | GREAT FALLS, MT | 1,359,081,873 | 8,785,435 | 2.75% | $154.70 |
| 3 | MIAMI, FL | 272,580,773 | 1,771,532 | 0.55% | $153.87 |
| 4 | LOS ANGELES, CA | 112,933,594 | 873,554 | 0.23% | $129.28 |
| 5 | NEW ORLEANS, LA | 61,026,091 | 407,979 | 0.12% | $149.58 |
| 6 | CLEVELAND, OH | 39,734,611 | 295,543 | 0.08% | $134.45 |
| 7 | ANCHORAGE, AK | 28,096,328 | 196,347 | 0.06% | $143.10 |
| 8 | BUFFALO, NY | 17,408,999 | 128,384 | 0.04% | $135.60 |
| 9 | OGDENSBURG, NY | 10,367,006 | 67,372 | 0.02% | $153.88 |
| 10 | PHILADELPHIA, PA | 3,056,601 | 23,650 | 0.01% | $129.24 |
4. Market Structure and Trends
Three destinations account for most export value
Switzerland received $28.41B, Hong Kong received $11.00B and the United Kingdom received $5.03B. Together they accounted for approximately 90.0% of exports. Singapore and India provided additional scale, but the smaller markets contributed limited value.
District concentration exceeds destination concentration
New York City recorded $47.45B, or 96.1% of export value. Great Falls ranked second at $1.36B. These district totals identify where trade was recorded. They do not establish transport mode, individual routes or available contingency capacity.
Lower reported quantity accompanied lower unit value
Both measures fell between January and July. Aggregate value per reported unit may reflect purity, product form, shipment mix and valuation. It should not be interpreted as a quoted gold price or a price index for identical goods.
5. Commercial Priorities
Review customer and shipment exposure in Switzerland, Hong Kong and the United Kingdom before setting sales assumptions.
Assess the operational dependence on New York City using actual routes, handling requirements and available capacity.
Separate gold grade, purity and product form when comparing transaction values.
Use a longer comparable history to assess whether the decline after April reflects timing, inventory changes or sustained demand changes.
Data Notes
Source: gTradeData. Scope: U.S. exports under HS 7108135000, January-July 2026. The workbook supplies monthly totals and top-ten destination and district tables.
The quantity unit is not specified in the supplied table. Quantity and unit value are therefore shown per reported unit, without assuming grams, kilograms or troy ounces. Export value is labeled as supplied and is not relabeled CIF.
Shares are recalculated from value divided by the monthly period total. Month-over-month changes compare adjacent months. The source provides no prior-year baseline, exporter identities or shipment-level records.
Conclusion
The seven-month export market was large but uneven. Switzerland led destinations, and New York City dominated recorded export activity. The fall from the March peak to July warrants closer review of shipment timing and product mix before a full-year outlook is set.