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Silver (including silver plated with gold or platinum); unwrought or in semi-manufactured forms, or in powder form

7106 (Harmonized System 1992 for 4-digit)

2023
World Trade $29.5BRnk 152 / 1217
2023
Top Exporter | Top Importer $4.69B | $5.99BChina | United States
2023
Product Complexity -0.83Rnk 814 / 1044
2022 - 2023
Export Growth (CAGR) 6.96%Rnk 204 / 1217
2023
Share of World Trade 0.13%Rnk 152 / 1217

About

Overview This page contains the latest trade data of Silver. In 2023, Silver were the world's 152nd most traded product, with a total trade of $29.5B. Between 2022 and 2023 the exports of Silver grew by 6.96%, from $27.5B to $29.5B. Trade in Silver represent 0.13% of total world trade.

Silver are a part of Precious stones, metals, & pearls. They include Silver in unwrought forms, Silver semi-manufactured including gold/platinum plat, and Silver powder.

Exports In 2023 the top exporters of Silver  were China ($4.69B), Mexico ($2.84B), South Korea ($1.96B), Hong Kong ($1.84B), and Switzerland ($1.59B).

Imports In 2023 the top importers of Silver were United States ($5.99B), United Kingdom ($3.5B), Hong Kong ($2.87B), India ($2.67B), and Canada ($2.21B).

Ranking Silver ranks 814th in the Product Complexity Index (PCI).

Description Silver is a metal that is used in jewelry, coins, and other products. It's also used in the production of some industrial goods.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Silver. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

Explore Latest Trends

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)China$4.69B
Top Destination (2023)United States$5.99B

In 2023 Silver were the world's 152nd most traded product (out of 1,217).

In 2023, the top exporters of Silver were China ($4.69B), Mexico ($2.84B), South Korea ($1.96B), Hong Kong ($1.84B), and Switzerland ($1.59B).

In 2023, the top importers of Silver were United States ($5.99B), United Kingdom ($3.5B), Hong Kong ($2.87B), India ($2.67B), and Canada ($2.21B).

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Exporters of Silver (2023)
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Importers of Silver (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)China$956M
Top Destination Growth (2022 -  2023)United Kingdom$1.24B

Between 2022 and 2023, the exports of Silver grew the fastest in China ($956M), United Arab Emirates ($623M), Hong Kong ($548M), Chinese Taipei ($444M), and Mexico ($251M).

Between 2022 and 2023, the fastest growing importers of Silver were United Kingdom ($1.24B), India ($980M), United States ($641M), United Arab Emirates ($572M), and Hong Kong ($333M).

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Exporters of Silver (2022 - 2023)

Importers of Silver (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Silver.

In 2023, market concentration measured using Shannon Entropy, was 4.51. This means that most of the exports of Silver are explained by 22 countries.

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Value of Exports in Silver

Net Trade

TOP NET EXPORTER (2023)China$3.55B
TOP NET IMPORTER (2023)United States$4.82B

This map shows which countries export or import more of Silver. Each country is colored based on the difference in exports and imports of Silver during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Silver were China ($3.55B), Mexico ($2.72B), South Korea ($1.83B), Poland ($1.01B), and Kazakhstan ($752M).

In 2023, the countries that had a largest trade value in imports than in exports of Silver were United States ($4.82B), India ($2.49B), United Kingdom ($2.18B), Canada ($1.14B), and Hong Kong ($1.03B).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Silver, disaggragated by their HS6 level were Silver in unwrought forms ($21.3B), Silver semi-manufactured including gold/platinum plat ($6.27B), and Silver powder ($1.92B)

HS6 Disaggregation for Silver (2023)
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Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Silver.
It is possible to select the main countries that export or import Silver in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Silver by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALJapan+ $58.7M
TOP IMPORT POTENTIALSouth Korea+ $32.6M

Silver’s highest export potential is Japan. With an export gap of $58.7M.  Silver’s highest import potential is South Korea with an import gap of $32.6M.

See methodology.

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Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2023)

Related Products

This visualization shows products that are likely to be exported by countries that export Silver.

Country by Relatedness

The following visualization shows the relatedness of Silver to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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