Turkey’s gold imports in the first eleven months hit 77.4 tonnes

European Union’s largest gold producer Turkey , also one of the largest gold importers, said gold imports last month dropped to 7.306 tons.

According to Istanbul Gold Exchange, Turkish gold imports fell from October’s 7.49 tonnes and lower by 3.03 tonnes imported in the same month last year.

Gold imports in the first eleven months hit 77.4 tonnes, nearly double the 42.49 tonnes imported in 2010 and the 2009 figure of 37.59 tonnes.

However, the nation imported 5.24 tons of silver in November, first imports in three months. Total silver imports till November this year hit 34.58 tons,higher than last year’s 19.69 tons.

Turkey produced 17 tons of gold last year, from just 2.1 tons in 2001 to become European Union’s largest gold producer.

While gold production in Turkey in 2001 was at 2.1 tons, in 2010 that same figure was multiplied by 7.1 times reaching 17 tons.

Taking into consideration European Union nations, Turkey takes the top spot with 17 tons of gold production.

According to Istabnbul Gold Excahange, Turkey is followed by Sweden with 6.3 tons, Finland with 5.7 tons, Bulgaria with 2.5 tons, Poland with 0.8 tons and Greece which produces 0.6 tons of gold.

The remaining EU countries’ gold production was realized at 1.7 tons. The combined total of gold production in the EU was at 34.6 tons. – Bullion Street

Tags: Turkey gold imports

Posted by admin on Dec 4 2011. Filed under Gold price. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry