Welcome back, Daniel Workman here, Senior Research Analyst at WorldTopExports.com
Today I'd like to share with you our latest findings about globally exported gold and silver
Gold represents the world's number seven exported product in 2020 based on sales
well behind integrated circuits, cars, and crude oil. Silver ranked much further down the list in 134th place among exported commodities
Let's look at our content storyboard for this international trade analysis of gold and silver
As mentioned, gold is the export commodity that generated the seventh highest revenues for 2020
The respectable $397.2 billion in sales reflects a 29.6% acceleration compared to the worldwide total for 2019
Which five export countries earned the most from selling gold on international markets
In first place is Switzerland, the European linguistic mecca with four national languages including German, French, and Italian
Hong Kong is well-sufficient for trading gold on international markets due to its proximity to China
The United Arab Emirates is the world's 34th richest country in terms of GDP on a purchasing power parity basis
The UK is the 10th wealthiest economy and has a long history of trading precious metals with its international trade partners
The United States of America was the world's fifth leading shipper of gold in 2020
By the way, that dollar amount is well ahead of China in 22nd place
Among the top 10 gold exporters, the Russian Federation was the biggest winner for casting higher revenues from gold shipments
Asian countries dominated the remaining strongest sales improvements. Let's turn our focus from exported gold to silver, a precious metal noted for its practical uses
Worldwide exports of silver generated less than 7% of the amount collected for gold exports
Year over year, silver exports grew at a rate almost twice that than the percentage for exported gold
Trailing world silver exports leader the United Kingdom, mainland China joins Hong Kong among the leading quintet of silver exporters for 2020
Hong Kong and mainland China handily outpaced exported silver sales from the North American pair of competitors, Mexico and the United States of America
Zooming out to the top 10 countries exporting silver, by far the UK benefited the most from increasing its international silver sales
The top 10 gainers are geographically concentrated in a trio of continents
Four are in Asia, three are in Europe, and three others are in North America
Now here are some key takeaways from our analysis. For one, the international trade market for exported gold was over 15 times higher than the demand for exported silver in 2020
A trio of wealthy countries, Switzerland, Hong Kong, and the United Arab Emirates accounted for 35.2% of total exported gold
Turning to silver, Britain, Hong Kong, and mainland China were responsible for 35.4% of globally exported silver
The Russian Federation posted a formidable 222.9% gain from 2019 to 2020
As for silver exports, the United Kingdom reported a 214.8% uptick. Now here's a bonus insight based on my research of gold exporting nations
Mainland China went from 41st place in 2019 to 22nd place in 2020, more than doubling its global sales of gold in just one year
For more key insights and useful international trade data, please visit us at WorldTopExports.com
And note that many of our top articles feature a searchable document database that showcases the country's top 100 most valuable exported products
We'll see you next time