Precious metals, gems and jewelry in United States

2019
Exports | Imports
: $46.6B | $53.5B, World Rnk 2 / 221
Flag Rnk 9 / 96 | World Rnk 6 / 223
Flag Rnk 9 / 96

2019
Destination | Origin
: $8.53B | $10.1B, United Kingdom | India

2018 - 2019
FASTEST GROWING MARKET |  FASTEST GROWING ORIGIN
: $493M | $2.39B, Italy |  United Kingdom

2019
ECONOMIC COMPLEXITY of United States
: 1.64, Rnk 9 / 157

2019
PRODUCT COMPLEXITY  IN Precious metals, gems and jewelry
: -1.95, Rnk 95 / 96

Exports: In 2019, United States exported $46.6B in Precious metals, gems and jewelry, making it the 2nd largest exporter of Precious metals, gems and jewelry in the world. At the same year, Precious metals, gems and jewelry was the 9th most exported product in United States. The main destination of Precious metals, gems and jewelry exports from United States are: United Kingdom ($8.53B), India ($6.45B), Switzerland ($5.96B), Hong Kong ($5.37B), and Canada ($3.43B).

The fastest growing export markets for Precious metals, gems and jewelry of United States between 2018 and 2019 were Italy ($493M), United Kingdom ($385M), and Australia ($230M).

Imports: In 2019, United States imported $53.5B in Precious metals, gems and jewelry, becoming the 6th largest importer of Precious metals, gems and jewelry in the world. At the same year, Precious metals, gems and jewelry was the 9th most imported product in United States. United States imports Precious metals, gems and jewelry primarily from: India ($10.1B), Israel ($6.62B), Canada ($4.65B), Mexico ($4.35B), and United Kingdom ($3.51B).

The fastest growing import markets in Precious metals, gems and jewelry for United States between 2018 and 2019 were United Kingdom ($2.39B), Canada ($822M), and Switzerland ($509M).

Tariffs: In 2018, the average tariff for United States in Precious metals, gems and jewelry was 1.45%. The countries with the highest import tariffs for Precious metals, gems and jewelry were North Korea (4.19%), Cuba (4.19%), Equatorial Guinea (3%), Libya (3%), and Mayotte (3%).

Overview: In January 2021 United States' Precious metals, gems and jewelry exports accounted up to $5.59B and imports accounted up to $7.08B, resulting in a negative trade balance of $1.49B. Between January 2020 and January 2021 the exports of United States'   Precious metals, gems and jewelry have increased by $720M (14.8%) from $4.87B to $5.59B, while imports increased by $2.79B (64.9%) from $4.29B to $7.08B.

Destinations: In January 2021 Precious metals, gems and jewelry exported mostly to United Kingdom ($1.18B), Canada ($689M), Italy ($523M), India ($486M), and Switzerland ($482M), and imported mostly from India ($1.15B), Switzerland ($1.11B), Canada ($737M), Mexico ($537M), and South Africa ($458M).

Growth: In January 2021, the increase in Precious metals, gems and jewelry's year-by-year exports was explained primarily by an increase in exports to Canada ($296M or 75.2%), China ($283M or 400%), and Italy ($215M or 69.7%). In January 2021, the increase in Precious metals, gems and jewelry's year-by-year imports was explained primarily by an increase in imports from Switzerland ($978M or 763%), United Kingdom ($302M or 350%), and India ($275M or 31.5%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (January 2020 - January 2021): $720M, (14.8%)

IMPORT GROWTH (January 2020 - January 2021): $2.79B, (64.9%)

MAIN EXPORTER (January 2021): New Jersey, $1.51B

MAIN DESTINATION (January 2021): United Kingdom, $1.18B

This section shows Precious metals, gems and jewelry's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Precious metals, gems and jewelry over time.

Value

EXPORTS (2019): $46.6B

IMPORTS (2019): $53.5B

NET TRADE (2019): -$6.94B

In 2019, United States exported $46.6B in Precious metals, gems and jewelry. The main destinations of United States exports on Precious metals, gems and jewelry were United Kingdom ($8.53B), India ($6.45B), Switzerland ($5.96B), Hong Kong ($5.37B), and Canada ($3.43B).

In 2019, United States imported $53.5B in Precious metals, gems and jewelry, mainly from India ($10.1B), Israel ($6.62B), Canada ($4.65B), Mexico ($4.35B), and United Kingdom ($3.51B).

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IN 2019, United States HAD A POSITIVE NET TRADE IN Precious metals, gems and jewelry WITH:

IN 2019, United States HAD A NEGATIVE NET TRADE IN Precious metals, gems and jewelry WITH:

Flow

THE FASTEST GROWING Precious metals, gems and jewelry EXPORT MARKETS FOR United States WERE (2018 - 2019):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Precious metals, gems and jewelry BY United States WERE (2018 - 2019):

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Market Concentration

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Type

In 2018, United States's main exporting competitors in Precious metals, gems and jewelry were:

In 2018, United States's main importing competitors in Precious metals, gems and jewelry were:

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Tariffs by Country

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In 2018, the average tariff for United States in Precious metals, gems and jewelry was 1.45%.

The countries with the highest tariffs for Precious metals, gems and jewelry in United States were North Korea (4.19%), Cuba (4.19%), Equatorial Guinea (3%), Libya (3%), and Mayotte (3%).

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