Overview This page contains the latest trade data of Silver. In 2019, Silver were the world's 212th most traded product, with a total trade of $17.3B. Between 2018 and 2019 the exports of Silver decreased by -5.67%, from $18.3B to $17.3B. Trade in Silver represent 0.096% of total world trade.

Exports In 2019 the top exporters of Silver  were Mexico ($1.99B), China ($1.52B), South Korea ($1.32B), Germany ($1.26B), and Japan ($1.21B).

Imports In 2019 the top importers of Silver were United States ($3.36B), India ($2.95B), United Kingdom ($1.79B), Hong Kong ($1.66B), and China ($1.04B).

Tariffs In 2018 the average tariff for Silver was 5.16%, making it the 800th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Silver are Angola (50%), Ethiopia (34.7%), Cameroon (29.4%), Gabon (29.4%), and Chad (29.4%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), United Arab Emirates (0%), China (0%), and Hong Kong (0%).

Ranking Silver ranks 780th 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.

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): Mexico, $1.99B

Top Destination (2019): United States, $3.36B

Silver are the world's 212th most traded product.

In 2019, the top exporters of Silver were Mexico ($1.99B), China ($1.52B), South Korea ($1.32B), Germany ($1.26B), and Japan ($1.21B).

In 2019, the top importers of Silver were United States ($3.36B), India ($2.95B), United Kingdom ($1.79B), Hong Kong ($1.66B), and China ($1.04B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Poland, $249M

Top Destination Growth (2018 - 2019): Canada, $272M

Between 2018 and 2019, the exports of Silver grew the fastest in Poland ($249M), Germany ($130M), Peru ($124M), Mexico ($118M), and Argentina ($88M).

Between 2018 and 2019, the fastest growing importers of Silver were Canada ($272M), Hong Kong ($202M), Switzerland ($181M), Australia ($81.8M), and Germany ($55.9M).

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Market Concentration

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Cumulative market share

Value

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

In 2019,  market concentration measured using Shannon Entropy, was 4.53. This means that most of the exports of Silver are explained by 23 countries.

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TOP NET EXPORTER (2019): Mexico, $1.9B

TOP NET IMPORTER (2019): India, $2.93B

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 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Silver were Mexico ($1.9B), South Korea ($1.22B), Poland ($841M), China ($481M), and Kazakhstan ($400M).

In 2019, the countries that had a largest trade value in imports than in exports of Silver were India ($2.93B), United States ($2.31B), United Kingdom ($678M), Hong Kong ($598M), and Thailand ($315M).

Disaggregation

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Value

In 2019, the world most traded Silver, disaggragated by their HS6 level were Silver in unwrought forms ($13.3B), Silver semi-manufactured including gold/platinum plat ($2.33B), and Silver powder ($1.67B)

Import Tariffs

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In 2018, the average tariff for importing Silver was 5.16%. The countries with the highest tariffs for importing Silver were Angola (50%), Ethiopia (34.7%), Cameroon (29.4%), Gabon (29.4%), and Chad (29.4%).

Product Complexity

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Diversification Frontier

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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.

Country by Relatedness

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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.