Argentina Gold Export Market -- HS Code 7108 Trade Data & Price Trend (Q1 2025)

Argentina Gold Export (HS 7108) Key Takeaways

Argentina's gold exports under HS Code 7108 surged 46% in Q1 2025, driven by high-grade unwrought gold shipments averaging $26,900/kg, with Switzerland dominating 56% of export value. The market shows extreme concentration—both in product (99% raw gold) and geography (Switzerland, U.S., India)—amplifying exposure to commodity swings but securing premium pricing in financial hubs. This analysis, covering Q1 2025, is based on 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, in unwrought or semi-manufactured forms, or as powder. This product is critical for industries such as jewelry, electronics, and investment, driven by its dual role as a luxury good and a stable financial asset. Global demand remains significant due to gold's enduring value and industrial applications.

Current Context and Strategic Position

The Harmonized Tariff Schedule of the United States (2025) Revision 5 [USITC] underscores the importance of standardized classification for gold trade, reflecting its strategic role in global markets. Argentina's gold export under HS Code 7108 is pivotal, leveraging its mining sector to meet international demand while navigating evolving trade policies. Monitoring hs code 7108 trade data is essential to assess Argentina's competitiveness and adapt to shifts in commodity pricing or regulatory frameworks. The country's position as a key supplier warrants close market vigilance.

Argentina Gold Export (HS 7108) Price Trend

Key Observations

Argentina's gold exports demonstrated robust growth in Q1 2025, with total value climbing from $922.92 million in January to $1.35 billion in March. This performance underscores a strengthening trend in the hs code 7108 value trend, reflecting heightened external demand or strategic market positioning during the quarter.

Price and Volume Dynamics

The Argentina Gold Export trend exhibited sequential momentum, with value rising approximately 12% month-over-month from January to February, followed by a sharper 31% increase into March. This acceleration aligns with typical safe-haven asset flows amid global economic uncertainties, potentially amplified by regulatory shifts such as the U.S. Harmonized Tariff Schedule revision in mid-March [USITC], which may have influenced trade classifications and incentives. The sustained upward trajectory suggests exporters capitalized on favorable conditions, though underlying factors like currency volatility or mining output adjustments likely contributed to the quarter's strong closure.

Argentina Gold Export (HS 7108) HS Code Breakdown

Product Specialization and Concentration

In Q1 2025, Argentina's export of HS Code 7108 is overwhelmingly dominated by unwrought, non-monetary gold, which accounts for nearly all export value and volume. According to yTrade data, the sub-code for unwrought gold (excluding powder) holds a 99% value share with a unit price of approximately 26,900 USD per kilogram, indicating a focus on high-value, raw material forms. Two minor anomalies are isolated from this analysis: one with the same product description but a significantly lower unit price of around 40 USD per kilogram, and another for monetary gold with an extremely high unit price but negligible trade volume.

Value-Chain Structure and Grade Analysis

The market structure for Argentina's HS Code 7108 exports centers on raw, unwrought gold as the primary category, suggesting a trade in fungible bulk commodities where price is closely tied to global gold indices and purity grades. The isolated anomalies—one potentially misgraded or misreported gold and another for specialized monetary gold—do not significantly alter the bulk commodity nature, as the core trade remains undifferentiated and driven by weight-based pricing.

Strategic Implication and Pricing Power

This high concentration in raw gold exports under HS Code 7108 gives Argentine exporters potential pricing power due to scale and quality consistency, but it also exposes them to commodity price volatility. Strategically, players should focus on maintaining high purity standards and monitoring HS Code 7108 trade data for shifts in global demand, while considering diversification into higher-value forms to mitigate risks.

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

Argentina's Gold exports in Q1 2025 were highly concentrated, with Switzerland dominating at 56.07% of the total export value. This indicates a strong reliance on a single market for high-value trade. The value share for Switzerland is significantly higher than its weight share of 12.31%, suggesting that exports to this country consist of premium, high-grade Gold, likely in refined or investment forms. Similar patterns are seen in the United States and India, where value shares exceed weight shares, pointing to demand for higher-quality Gold. Frequency is also high for Switzerland at 51.15%, implying frequent, possibly smaller shipments tailored to financial or banking needs.

Destination Countries Clusters and Underlying Causes

The top destinations can be grouped into two clusters based on trade profiles. The High-Yield Cluster includes Switzerland, the United States, and India, where value shares are high but weight shares are low, reflecting demand for premium Gold products, often for financial investment or jewelry markets. The Transactional Cluster, led by Switzerland with its high frequency of shipments, suggests regular, possibly just-in-time supply chains to meet ongoing demand in global financial hubs. Other countries like Canada show balanced ratios, while anomalies in weight data for South Africa, Ghana, and Belgium are omitted due to implausible unit prices, indicating potential data issues or non-standard trade practices.

Forward Strategy and Supply Chain Implications

To enhance Argentina's Gold export strategy, focus should remain on high-margin markets like Switzerland, the United States, and India, where premium pricing is achievable. Supply chains should be optimized for frequent, reliable shipments to support financial sector demands, possibly through streamlined logistics and secure transportation. Monitoring trade data for HS Code 7108 will help identify shifts in market dynamics, ensuring Argentina capitalizes on its strong position in key markets without diverting resources to lower-value opportunities.

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

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Action Plan for Gold Market Operation and Expansion

• Track global gold indices and purity grades weekly using hs code 7108 trade data to adjust Argentina Gold Export pricing in real-time, minimizing exposure to commodity price swings.
• Prioritize shipments to high-value markets like Switzerland and the U.S. by analyzing buyer frequency data, ensuring premium pricing for Argentina’s Gold Export and maximizing margin per kilogram.
• Optimize the Gold supply chain for high-frequency, secure air freight to meet financial sector demand, reducing transit delays and strengthening buyer trust in time-sensitive deliveries.
• Diversify into refined or investment-grade gold products for markets like India where value exceeds weight, leveraging Argentina’s existing quality standards to capture higher margins beyond raw exports.
• Monitor hs code 7108 trade data for anomalies and new demand trends to quickly reallocate resources, avoiding reliance on volatile or low-yield markets and protecting export revenue.

Take Action Now —— Explore Argentina Gold Export Data

Frequently Asked Questions

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

Argentina's gold exports surged by 46% in value from January to March 2025, driven by strong global demand amid economic uncertainties and potential regulatory shifts. The growth reflects strategic positioning in high-value markets like Switzerland and the U.S.

Q2. Who are the main destination countries of Argentina Gold (HS Code 7108) 2025 Q1?

Switzerland dominates with 56.07% of export value, followed by the U.S. and India, where demand focuses on premium gold for financial or jewelry markets. These three countries form the core high-yield cluster.

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

Price differences stem from product specialization: unwrought gold (26,900 USD/kg) accounts for 99% of exports, while rare anomalies like monetary gold command extreme premiums but negligible volume.

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

Exporters should prioritize high-margin markets (Switzerland, U.S., India), ensure purity standards, and optimize logistics for frequent shipments to meet financial sector demand while monitoring global price volatility.

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

Buyers in key markets benefit from reliable, high-grade gold supply but must anticipate price sensitivity to commodity fluctuations and potential competition for premium products.

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

Argentina’s gold exports under HS Code 7108 are primarily raw, unwrought gold (non-monetary), traded as bulk commodities for refining, financial reserves, or jewelry production in destination markets.

Detailed Monthly Report

Argentina HS7108 Export Snapshot 2025 JAN

Argentina HS7108 Export Snapshot 2025 FEB