Where Swiss gold exports go ?

    By Jan Harvey
    LONDON, March 20 (Reuters) - Switzerland became a net
exporter of gold for the first time in more than two years in
February, data from the Swiss customs bureau showed on Tuesday,
as shipments into the country fell to their lowest since April
2014. 
    Switzerland, a major trading, vaulting and refining centre
for precious metals, reported net gold exports of 18,143 kg last
month, against net imports of 99,194 kg in January and 108,072
kg in February 2017. 
    Argentina was the biggest source of Swiss gold imports by
weight last month, shipping in 35,748 kg. 
    In value terms however its imports, worth 109 million Swiss
francs ($114.64 million), were outstripped by those of the
United Kingdom, which exported 8,178 kg of gold worth 328
million Swiss francs, and the United Arab Emirates, which
shipped 7,956 kg of gold worth 321 million Swiss francs. 
    UK exports to Switzerland were down by a third
month-on-month, while imports from the UAE were two-thirds
lower.
    Swiss gold exports rose 63 percent year on year, meanwhile,
with shipments to China hitting their highest since December
2016 at 66,000 kg, three times the previous February's total. 
    Exports to Hong Kong slipped by just over a fifth to 19,000
kg, while shipments to India reached 27,775 kg, nearly double
the previous month's total but down by a quarter year on year. 
    
    SWISS GOLD EXPORTS (KG)*    
              IMPORT (kg)  EXPORT (kg)   NET IMPORTS (kg)
 Feb-18      127,759       145,902           -18,143
 Jan-18      204,487       105,293            99,194
 Feb-17      197,619        89,547           108,072
   
    DESTINATION OF SWISS GOLD EXPORTS (KG)*
                    India         China    Hong Kong
 Feb-18        27,775   66,000        19,000
 Jan-18        14,335   39,500        24,459
 Feb-17        37,853   22,000         7,445
 
    * Source: Swiss trade data. Data subject to revision by
source.
($1 = 0.9508 Swiss francs)

(Reporting by Jan Harvey; Editing by Jon Boyle) from Reuters