Switzerland is the world's biggest bullion refining and transit hub and its data provides insight into global market trends.
It exported 58 tonnes of gold worth 3.2 billion Swiss francs ($3.5 billion) to mainland China in February, up from 26.1 tonnes in January and the most since December.
It sent 25.6 tonnes of gold to India, up from 3.2 tonnes in January and the most since September.
China and India are the world's largest gold consumer markets and their demand often rises when gold prices are falling.
Gold prices rose by about 6% in January and hit a peak of $1,959.60 an ounce on Feb. 2 before slipping back through February.
In March, however, prices have surged, rising above $2,000 an ounce on Monday as investors responded to turmoil in the banking sector by buying gold, which is typically seen as a safe asset.
Swiss exports of gold to Turkey dipped in February, having risen to unprecedented levels in January amid rampant inflation in the country.
After a massive earthquake struck early in February, the Turkish government put curbs on gold imports.
Last year, Switzerland sent 524 tonnes of gold to mainland China and Hong Kong, the most since 2018, and 224 tonnes of gold to India and 188 tonnes to Turkey.
Here are figures and comparisons.
SWISS GOLD EXPORTS, MONTHLY (KG)
EXPORT (kg) Feb-23 183,066 Jan-23 138,771 Feb-22 121,655
EXPORTS TO KEY MARKETS, MONTHLY (KG)
To China To Hong To India To Turkey
Kong
Feb-23 57,990 25,265 25,644 43,917 Jan-23 26,122 26,923 3,214 58,285 Feb-22 35,500 10,575 32,761 1,425
* Source: Swiss customs. Data subject to revision by source.
($1=0.9273 Swiss francs)
(Reporting by Peter Hobson; Editing by Clarence Fernandez)
