HS Icon Silver

7106 (Harmonized System 1992 for 4-digit)

World Trade (2018): $18.3B, Rnk 201 / 1225

Top Exporter (2018): $1.81B, Mexico

Top Importer (2018): $3.97B, India

Product Complexity (2018): -0.91, Rnk 799 / 1018

Export Growth (CAGR)(2017 - 2018): -1.3%, Rnk 1108 / 1225

Mean Tariff (2018): 5.16%, Rnk 800 / 1259

Share of World Trade (2018): 0.099%, Rnk 201 / 1225

Overview:  This page contains the latest trade data of Silver. In 2018, Silver were the world's 201st most traded product, with a total trade of $18.3B. Between 2017 and 2018 the exports of Silver decreased by -1.3%, from  $18.5B to $18.3B. Trade in Silver represent 0.099% of total world trade.

Exports: In 2018 the top exporters of Silver  were Mexico ($1.81B), China ($1.59B), United Kingdom ($1.4B), Hong Kong ($1.37B), and South Korea ($1.37B).

Imports: In 2018 the top importers of Silver were India ($3.97B), United States ($3.33B), United Kingdom ($1.96B), Hong Kong ($1.46B), and China ($989M).

Tariffs: In 2018 the average tariff for Silver was 5.16%, been the 800 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 799th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Mexico, $1.81B

Top Destination (2018): India, $3.97B

Silver are the world's 201st most traded product.

In 2018, the top exporters of Silver were Mexico ($1.81B), China ($1.59B), United Kingdom ($1.4B), Hong Kong ($1.37B), and South Korea ($1.37B).

In 2018, the top importers of Silver were India ($3.97B), United States ($3.33B), United Kingdom ($1.96B), Hong Kong ($1.46B), and China ($989M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United Kingdom, $652M

Top Destination Growth (2017 - 2018): India, $969M

Between 2017 and 2018, the exports of Silver grew the fastest in United Kingdom ($652M), China ($381M), Belgium-Luxembourg ($288M), United States ($219M), and Chinese Taipei ($174M).

Between 2017 and 2018, the fastest growing importers of Silver were India ($969M), Hong Kong ($388M), Germany ($300M), Thailand ($150M), and United Arab Emirates ($105M).

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Market Concentration

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Cumulative market share

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

In 2018,  market concentration measured using Shannon Entropy, was 4.55. This means that most of the exports of Silver are explained by 23 countries.

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TOP NET EXPORTER (2018): Mexico, $1.7B

TOP NET IMPORTER (2018): India, $3.95B

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 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Silver were Mexico ($1.7B), South Korea ($1.24B), China ($601M), Poland ($590M), and Kazakhstan ($534M).

In 2018, the countries that had a largest trade value in imports than in exports of Silver were India ($3.95B), United States ($2.04B), United Kingdom ($553M), Thailand ($449M), and Singapore ($221M).

Trade Forecasts

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This section shows forecasts for total trade for Silver. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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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%).

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Product Complexity

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Diversification Frontier

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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.