Gold became America's top export
Gold was the largest US export in October and November 2025 and January to March 2026, ahead of crude oil and pharmaceuticals.
Gold against the biggest US exports
| Month | Gold | Crude oil |
|---|---|---|
| September 2026 | $4.2B | $12.1B |
| August 2026 | $7.6B | $10.9B |
| July 2026 | $5.4B | $8.9B |
| June 2026 | $9.2B | $13.4B |
| May 2026 | $5.8B | $19.3B |
| April 2026 | $11.9B | $17.1B |
| March 2026 | $17.7B | $10.7B |
| February 2026 | $18.5B | $7.9B |
| January 2026 | $10.5B | $7.5B |
| December 2025 | $5.8B | $7.9B |
| November 2025 | $12.9B | $7.5B |
| October 2025 | $17.1B | $8.8B |
| September 2025 | $10.2B | $8.8B |
| August 2025 | $4.1B | $8.5B |
| July 2025 | $5.2B | $7.6B |
| June 2025 | $2.3B | $7.6B |
| May 2025 | $4.3B | $7.4B |
| April 2025 | $9.8B | $8.1B |
| March 2025 | $5.6B | $9.1B |
| February 2025 | $4.9B | $9.2B |
| January 2025 | $1.7B | $9.2B |
| December 2024 | $3.0B | $8.7B |
| November 2024 | $2.4B | $9.6B |
| October 2024 | $2.9B | $8.9B |
Showing 24 of 73
Every month since September 2020: gold, crude oil, pharmaceutical and aircraft engine exports and the top export category, in millions of dollars, as a gzipped CSV.
Download CSV (gzip)About the data
- These are dollars, not tonnes. The gold price roughly doubled from early 2024 to late 2025, so part of the rise is price.
- Census counts gold traded as a commodity: bars, doré and scrap. Central bank reserves are left out, so countries moving their reserves out of the US don't show up here.
- Most of it goes to Switzerland, home of the biggest refineries: $47.9B of the $86.9B exported in 2025. The UK, home of the London bullion market, took $19.6B.
- Some of it is gold going back out. Traders rushed about $78B of gold into the US in early 2025, ahead of possible tariffs. From April 2025 to June 2026, exports beat imports by about $115B (BEA).
- Central bank demand may play a part. Foreign central banks now hold more gold than US Treasuries. Trade data doesn't show who ends up with it.