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

Argentina Gold Export (HS 7108) Key Takeaways

Argentina's gold exports under HS Code 7108 in February 2025 surged 11.6% to $1.03 billion, driven by high-grade non-monetary gold dominating 99% of shipments. The market is state-controlled, with large, infrequent buyers like refineries creating pricing power but also vulnerability to policy shifts. Switzerland led as the premium destination, accounting for 74.7% of export value due to demand for high-purity gold, while Canada handled bulk shipments. This analysis covers February 2025 and is based on cleanly processed 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), traded in unwrought or semi-manufactured forms, or as powder. This category is critical for industries like jewelry, electronics, and central bank reserves, where gold’s stability and liquidity drive consistent global demand. Argentina’s gold exports under this code, particularly in semi-processed forms like dore bars, play a key role in its trade portfolio.

Current Context and Strategic Position

In February 2025, Argentina’s gold exports operated under standard duties, as no specific exemptions for HS Code 7108 were reported at the time [KPMG]. However, by late 2025, temporary duty waivers for select goods hinted at potential shifts in trade policy. Argentina’s gold exports, valued at $2.32B in 2023, remain strategically significant, ranking as the country’s 7th-largest export [OEC]. With strict Mercosur HS code compliance required, monitoring Argentina’s gold export trends and policy updates is essential for market participants relying on HS Code 7108 trade data.

Argentina Gold Export (HS 7108) Price Trend

Key Observations

In February 2025, Argentina's Gold exports under HS code 7108 reached 1.03 billion USD, up from 922.92 million USD in January, indicating a positive shift in trade value for the month.

Price and Volume Dynamics

The Argentina Gold Export trend demonstrated a sequential increase, with February's value rising by approximately 11.6% compared to January. This growth aligns with typical patterns in precious metals markets, where short-term value spikes can occur due to factors like investor sentiment or currency adjustments, rather than fundamental supply changes. The momentum from January to February suggests a responsive trade environment, possibly driven by opportunistic selling or external economic cues.

External Context and Outlook

Historically, Argentina has maintained export duties on key commodities, including gold, which can impact trade volumes and values. For example, export duties were set in the past, as noted in historical reports [Global Trade Alert]. Moving forward, the hs code 7108 value trend will likely be influenced by broader macro-economic factors such as global gold demand fluctuations and domestic fiscal policies, rather than immediate policy shifts during this period.

Argentina Gold Export (HS 7108) HS Code Breakdown

Product Specialization and Concentration

Argentina's export of HS Code 7108 in February 2025 is highly concentrated in high-value unwrought gold, specifically the sub-code 71081210000 for non-monetary gold not in powder form. According to yTrade data, this product dominates with over 99% of the export value and weight, and a unit price of approximately 31,111 USD per kilogram, highlighting its role as a specialized, high-grade commodity. A separate anomaly exists for monetary gold (sub-code 71082000000), which has an extremely high unit price but minimal volume, and is isolated from the main analysis pool.

Value-Chain Structure and Grade Analysis

The non-anomalous exports include a lower-value variant of unwrought gold (sub-code 71081290000) with a unit price of only 53 USD per kilogram, indicating a possible difference in grade or processing despite similar descriptions. This price disparity suggests that Argentina's gold exports under HS Code 7108 are not uniform commodities but involve quality differentiation, leaning towards traded goods with variable value based on purity or form rather than standardized bulk trading.

Strategic Implication and Pricing Power

The dominance of high-grade gold gives Argentine exporters strong pricing power, enabling them to secure premium prices in international markets. Businesses should prioritize quality assurance and certification for their unwrought gold to maintain this advantage, while considering the niche monetary gold segment for limited high-value opportunities. Analyzing HS Code 7108 trade data reveals a market where focus on grade specialization is key to maximizing returns.

Check Detailed HS Code 7108 Breakdown

Argentina Gold Export (HS 7108) Destination Countries

Geographic Concentration and Dominant Role

In February 2025, Switzerland dominated Argentina's Gold exports under HS Code 7108, holding 74.67% of the value share but only 47.46% of the weight share. This gap shows that Switzerland buys higher-grade or more refined Gold, as the value per kilogram is significantly higher. The United States and India also show value shares exceeding weight shares, indicating premium demand. Canada has a weight share of 9.42% but a lower value share of 5.82%, suggesting bulk or less processed shipments. South Africa is omitted from weight analysis due to an implausibly low unit price, focusing only on its minor value and frequency roles.

Destination Countries Clusters and Underlying Causes

The top destinations form two clear clusters based on Argentina's Gold export data. The High-Yield Cluster includes Switzerland, the United States, and India, where value shares outpace weight shares, pointing to demand for finished or high-purity Gold, likely for financial or jewelry markets. The Volume/Hub Cluster is led by Canada, with a higher weight share relative to value, indicating shipments of raw or semi-processed Gold, possibly for refining or re-export. Frequency shares are relatively balanced, with no strong transactional cluster, meaning trade is steady without high retail fragmentation.

Forward Strategy and Supply Chain Implications

For Argentina's Gold exports, prioritizing high-margin markets like Switzerland and the United States can maximize returns, while streamlining logistics for bulk buyers like Canada could reduce costs. Given Gold's commodity nature, supply chains should focus on secure transportation and compliance with international standards, as historical data shows Argentina's active trade in semi-processed Gold [OEC World]. Monitoring policy changes, such as potential duty adjustments, is key, but no specific news directly impacts February 2025 patterns.

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

Get Complete Destination Countries Profile

Argentina Gold (HS 7108) Buyers Analysis

Buyer Market Concentration and Dominance

According to yTrade data, the Argentina Gold Export buyers market in February 2025 was dominated by high-value, low-frequency traders. This segment accounted for the largest share of export value, indicating that typical trade involved large, infrequent shipments of gold under hs code 7108. The median transaction size was substantial, reflecting the commodity nature of gold exports from Argentina.

Strategic Buyer Clusters and Trade Role

The profile of hs code 7108 buyers shows that the dominant high-value, low-frequency group consists primarily of state-controlled entities and large refineries, making the market state-controlled. Other segments include high-value, high-frequency traders involved in active arbitrage, and lower-value buyers handling smaller, more regular transactions. This four-segment structure highlights a mix of centralized and intermediated trade roles in Argentina's gold exports.

Sales Strategy and Vulnerability

For Argentine gold exporters, the buyer structure suggests a strategic focus on maintaining relationships with large, infrequent buyers to secure stable revenue, but it also poses vulnerability to price volatility and policy changes. Historical export duties, as noted in past reports [Global Trade Alert], underscore the risk of regulatory shifts. Opportunities lie in diversifying into higher-frequency segments to reduce dependence on few large buyers.

Check Full Gold Buyer lists

Action Plan for Gold Market Operation and Expansion

Strategic Supply Chain Overview

The Argentina Gold Export market under hs code 7108 trade data is driven by product quality and destination demand. High-grade gold commands premium prices, especially in markets like Switzerland and the United States. Geopolitical and policy risks, such as export duties, create price volatility.

The Gold supply chain must prioritize security and compliance. Shipments to high-value destinations require assured quality certification. Bulk shipments to hubs like Canada need cost-efficient logistics. Dependence on few large buyers increases vulnerability to market shifts.

Action Plan: Data-Driven Steps for Gold Market Execution and Expansion

• Analyze buyer frequency data to identify potential high-volume partners. This reduces reliance on a few large buyers and stabilizes revenue streams.
• Monitor unit prices by destination within hs code 7108 trade data. Focus sales on high-yield markets to maximize returns per kilogram exported.
• Implement strict quality assurance and certification for all shipments. This protects the premium price advantage for Argentina's high-grade gold.
• Diversify export destinations based on value-weight ratios. This optimizes the Gold supply chain for both premium margins and bulk efficiency.

Take Action Now —— Explore Argentina Gold Export Data

Frequently Asked Questions

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

Argentina's gold exports under HS Code 7108 rose by 11.6% in value from January to February 2025, reaching $1.03 billion, likely due to short-term market factors like investor sentiment or currency shifts rather than supply changes.

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

Switzerland dominated with 74.67% of the export value, followed by the United States and India, which also showed premium demand for high-grade gold.

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

The price gap stems from quality differentiation: Switzerland, the U.S., and India buy high-purity gold (sub-code 71081210000 at ~$31,111/kg), while Canada receives lower-value variants (sub-code 71081290000 at ~$53/kg).

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

Exporters should prioritize high-margin markets (e.g., Switzerland) and maintain relationships with state-controlled buyers, while diversifying into higher-frequency segments to reduce reliance on large, infrequent transactions.

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

Buyers in Switzerland and the U.S. secure high-grade gold for financial/jewelry markets, while bulk buyers like Canada receive raw shipments for refining, reflecting a stable but quality-stratified supply chain.

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

Argentina’s gold exports are primarily high-value unwrought gold (non-monetary), used in financial reserves, jewelry, or industrial refining, with a niche segment of monetary gold for central banks.