Japan's Gold Market Transformation: From Major Importer to Net Exporter Japan, once a dominant force in global gold importing during the 1980s and 1990s, has undergone a significant shift in its gold market dynamics. This change was initially influenced by the introduction of a consumption tax and further accelerated after the collapse of Japan’s economic bubble in the 2000s. The country, which used to import gold extensively from various international sources, has now become a net exporter, primarily to Asia and London. This shift is exemplified by the author’s experience at a Tokyo bank branch, where gold was mostly exported during their tenure. The evolving consumption tax, rising from 3% in 1989 to 10% in 2019, plays a complex role in this transformation. Although the tax is refunded upon selling gold, theoretically not impacting gold investment negatively, it has indirectly contributed to Japan’s transition from a major gold importer to a net exporter. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts JPMorgan Bullish on Gold and Silver, Palladium Rallies READ MORE Gold Hits Three-Week High as Cooling Inflation Fuels Fed Rate Cut Hopes READ MORE Commerzbank Predicts Silver to Reach $30 by End of 2024 Amid Rising Industrial Demand READ MORE Gold’s ‘Record March Higher Set To Continue,’ Goldman Says READ MORE China's Middle Class and Youth Turn to Gold as Traditional Markets Lose Shine READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment