Argentina Gold Export Market -- HS Code 7108 Trade Data & Price Trend (Apr 2025)

Argentina Gold Export (HS 7108) Key Takeaways

Argentina's gold exports under HS code 7108 in April 2025 totaled $1.31 billion, showing a slight dip from March but remaining strong amid global demand for high-grade unwrought gold, which dominates 99.7% of shipments. The market relies heavily on a few institutional buyers, primarily shipping premium product to Switzerland (58.5% of value), where unit prices far exceed bulk destinations like Canada. This analysis, covering April 2025, is based on verified customs data from the yTrade database.

Argentina Gold Export (HS 7108) Background

What is HS Code 7108?

HS Code 7108 covers gold, including gold plated with platinum, in unwrought or semi-manufactured forms, or as powder. This product is critical for industries such as jewelry, electronics, and investment, where its high conductivity and store of value drive consistent global demand. Its trade dynamics are closely tied to commodity prices and industrial activity.

Current Context and Strategic Position

Recent updates to the Harmonized Tariff Schedule of the United States (2025) highlight ongoing adjustments to trade classifications, which could indirectly influence global gold trade flows [USITC]. Argentina's gold export sector remains strategically significant due to its mining output and role as a key supplier in Latin America. Monitoring HS Code 7108 trade data is essential, as shifts in tariffs or demand could impact Argentina's export competitiveness. Vigilance is warranted to navigate potential policy or market disruptions.

Argentina Gold Export (HS 7108) Price Trend

Key Observations

In April 2025, Argentina's gold exports under HS code 7108 reached a value of 1.31 billion USD, reflecting a modest pullback from March's peak of 1.35 billion USD. This performance underscores a period of heightened activity in the first quarter, with the Argentina Gold Export trend showing robust sequential growth earlier in the year before easing in April.

Price and Volume Dynamics

The hs code 7108 value trend demonstrated strong momentum from January to March, climbing from 922.92 million USD to 1.35 billion USD, driven by increased global demand for safe-haven assets amid economic uncertainties. The slight decline in April may reflect market adjustments following the March tariff schedule revisions [USITC Harmonized Tariff Schedule], which could have influenced trade flows and export timing. Gold, as a monetary metal, often sees volatile export patterns tied to currency fluctuations and investor sentiment, suggesting this dip is part of a broader cyclical correction rather than a fundamental shift.

Argentina Gold Export (HS 7108) HS Code Breakdown

Product Specialization and Concentration

According to yTrade data, Argentina's export of HS Code 7108 in April 2025 is overwhelmingly concentrated in high-value unwrought gold, specifically under sub-code 71081210000 for "Metals; gold, non-monetary, unwrought (but not powder)". This sub-code accounts for nearly all export value at 99.72% share, with a unit price of 26,798 USD per kilogram, indicating a focus on premium-grade material. An extreme price anomaly exists under sub-code 71082000000 for "Gold, monetary", which has a unit price of 196,135 USD per kilogram but is isolated due to minimal volume and weight share.

Value-Chain Structure and Grade Analysis

The non-anomalous exports under Argentina HS Code 7108 Export break into two clear groups based on grade: high-purity unwrought gold (71081210000) and a lower-grade variant (71081290000) with a unit price of only 29 USD per kilogram. This structure shows that Argentina's gold trade is not purely fungible bulk; the high unit price disparity points to differentiated products where quality and purity drive value, rather than simple commodity trading linked to indices.

Strategic Implication and Pricing Power

For market players, HS Code 7108 trade data reveals strong pricing power in high-grade gold exports, allowing Argentine suppliers to command premium prices. Strategic focus should prioritize maintaining quality standards and exploring niche markets for differentiated products, while the low-grade segment may require cost efficiency to compete in more commoditized areas.

Table: Argentina HS Code 7108) Breakdown Details (Source: yTrade)

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Argentina Gold Export (HS 7108) Destination Countries

Geographic Concentration and Dominant Role

Switzerland is the dominant destination for Argentina's Gold exports in April 2025, accounting for 58.53% of the export value. The value share is significantly higher than the weight share of 18.59%, indicating that shipments to Switzerland consist of higher-grade or more refined Gold, commanding premium prices. The United States and India also show value shares exceeding their weight shares, suggesting a focus on quality-driven demand in these markets.

Destination Countries Clusters and Underlying Causes

The top destinations form two main clusters based on trade patterns. The High-Yield Cluster includes Switzerland, the United States, and India, where high value shares relative to weight point to demand for premium Gold products, likely driven by financial and jewelry sectors. The Volume Cluster is represented by Canada, with a weight share of 12.12% exceeding its value share of 8.88%, indicating bulk shipments of possibly raw or less refined Gold, often used in industrial processing. South Africa and Belgium have minimal value contributions despite high weight shares for South Africa, which may reflect data anomalies or niche trade flows not central to the main export strategy.

Forward Strategy and Supply Chain Implications

Argentina should prioritize maintaining and expanding high-margin exports to the High-Yield Cluster, particularly Switzerland, while optimizing logistics for bulk shipments to Canada to reduce costs. Monitoring trade data for HS Code 7108 will help adapt to shifts in global Gold demand, ensuring competitive positioning without over-reliance on any single market.

Table: Argentina Gold (HS 7108) Top Destination Countries (Source: yTrade)

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Argentina Gold (HS 7108) Buyers Analysis

Buyer Market Concentration and Dominance

According to yTrade data, the Argentina Gold Export market in April 2025 shows a concentration dominated by high value, low frequency buyers. This means that most of the trade value comes from a small number of buyers making large, infrequent purchases, which is typical for commodity products like gold under hs code 7108. The median trade characteristics point to significant shipment sizes as the norm for Argentina Gold Export buyers.

Strategic Buyer Clusters and Trade Role

The profile of hs code 7108 buyers indicates that the dominant high value, low frequency group likely consists of state-controlled or large financial entities, suggesting a centralized market structure. The other three segments—high value high frequency, low value high frequency, and low value low frequency—may include smaller traders or occasional participants, but the overall market for Argentina Gold Export is driven by major institutional players due to the commodity's high value nature.

Sales Strategy and Vulnerability

For Argentina's Gold Export, the sales strategy should prioritize securing and nurturing relationships with key high value buyers to maintain export stability. The main vulnerability is the reliance on a concentrated buyer base, which exposes the trade to risks like price volatility or geopolitical shifts. Although the US tariff schedule revision [USITC] could influence global trade dynamics, its direct impact on gold requires monitoring for any changes that might affect hs code 7108 trade data flows.

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Action Plan for Gold Market Operation and Expansion

• Use hs code 7108 trade data to prioritize shipments of high-purity gold to high-yield markets like Switzerland and the U.S., as their demand for premium-grade material maximizes the value of Argentina's Gold Export.
• Secure long-term contracts with the dominant high-value, low-frequency buyers identified in the data to ensure export stability and protect against price volatility within the Gold supply chain.
• Continuously monitor hs code 7108 trade data for price and volume anomalies in sub-codes to prevent quality misclassification and ensure accurate, premium pricing for all shipments.
• Optimize logistics and shipping for bulk, lower-grade gold exports to volume markets like Canada to reduce operational costs and improve overall efficiency in the Gold supply chain.

Take Action Now —— Explore Argentina Gold Export Data

Frequently Asked Questions

Q1. What is driving the recent changes in Argentina Gold Export 2025 April?

Argentina's gold exports saw a slight decline to 1.31 billion USD in April 2025 after peaking at 1.35 billion USD in March, reflecting cyclical adjustments amid global economic uncertainties and tariff revisions. The earlier Q1 surge was driven by safe-haven demand for high-grade gold.

Q2. Who are the main destination countries of Argentina Gold (HS Code 7108) 2025 April?

Switzerland dominates with 58.53% of export value, followed by the United States and India, which also show premium demand. Canada accounts for 8.88% of value but 12.12% of weight, indicating bulk shipments.

Q3. Why does the unit price differ across destination countries of Argentina Gold Export?

Price disparities stem from product differentiation: high-purity unwrought gold (71081210000) at 26,798 USD/kg drives premiums in Switzerland, while lower-grade variants (71081290000) at 29 USD/kg target bulk markets like Canada.

Q4. What should exporters in Argentina focus on in the current Gold export market?

Exporters should prioritize high-margin buyers in Switzerland and the U.S. by maintaining quality standards, while optimizing cost efficiency for bulk shipments to Canada to mitigate reliance on concentrated buyers.

Q5. What does this Argentina Gold export pattern mean for buyers in partner countries?

High-value buyers (e.g., financial institutions) benefit from stable premium-grade supply, while bulk buyers like Canada gain access to cost-effective raw material, though both face exposure to price volatility.

Q6. How is Gold typically used in this trade flow?

Argentina’s gold exports primarily serve financial reserves and jewelry sectors, with high-purity unwrought gold catering to institutional investors and lower-grade material used in industrial processing.