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2023
Destination $542MN/A
2022 - 2023
FASTEST GROWING MARKET $542MIndia
2023
PRODUCT COMPLEXITY IN Silver-0.85Rnk 794 / 1025
2023
ImportsfalseWorld Rnk 2 / 179
Flag Rnk 32 / 1214
2023
Origin $1.1B China
2022 - 2023
FASTEST GROWING ORIGIN $1.1BChina
2023
ECONOMIC COMPLEXITY of United Kingdom1.5Rnk 11 / 132

About

The fastest growing export markets for Silver of United Kingdom between 2022 and 2023 were India ($542M), United Arab Emirates ($38.9M), and United States ($37M).

Imports In 2023, United Kingdom imported $3.5B in Silver, becoming the 2nd largest importer of Silver in the world. At the same year, Silver was the 32nd most imported product in United Kingdom. United Kingdom imports Silver primarily from: China ($1.15B), Hong Kong ($481M), Kazakhstan ($392M), Germany ($277M), and Poland ($226M).

The fastest growing import markets in Silver for United Kingdom between 2022 and 2023 were China ($1.1B), Germany ($119M), and Hong Kong ($110M).

Latest Trends

November 2024

About

Overview In November 2024 United Kingdom's Silver exports accounted up to £188M and imports accounted up to £323M, resulting in a negative trade balance of £135M. Between November 2023 and November 2024 the exports of United Kingdom's   Silver have increased by £19.5M (11.6%) from £168M to £188M, while imports increased by £240M (288%) from £83.1M to £323M.

Destinations In November 2024, Silver were exported mostly to India (£154M), Canada (£15.3M), United States (£14.7M), Switzerland (£1.51M), and Germany (£1.2M), and were imported mostly from China (£136M), Germany (£44.1M), France (£38.9M), Hong Kong (£29.3M), and Switzerland (£29.1M).

Growth In November 2024, the increase in Silver's year-by-year exports was explained primarily by an increase in exports to Turkey (£40.6M or 467%), Italy (£24.8M or 44.5k%), and Spain (£16M or 182%). In November 2024, the increase in Silver's year-by-year imports was explained primarily by an increase in imports from Hong Kong (£30.7M or 15.8k%), Switzerland (£1.69M or 124%), and Canada (£229k or 7.36k%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)£19.5M(11.6%)
IMPORT GROWTH (November 2023 - November 2024)£240M(288%)
MAIN EXPORTER (November 2024)London Heathrow Airport£740M
MAIN DESTINATION (November 2024)India£154M

This section shows Silver's exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Silver over time.

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Historical Data

Trade Balance

Color
IMPORTS (2023)$3.5B

In 2023, United Kingdom imported $3.5B in Silver, mainly from China ($1.15B), Hong Kong ($481M), Kazakhstan ($392M), Germany ($277M), and Poland ($226M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Silver EXPORT MARKETS FOR United Kingdom WERE (2022 - 2023):
India$542M (453%)
United Arab Emirates$38.9M (3.02k%)
United States$37M (45.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Silver BY United Kingdom WERE (2022 - 2023):
Switzerland-$246M (-96.1%)
Canada-$98.4M (-43.3%)
Germany-$94.2M (-65.6%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, United Kingdom's main exporting competitors in Silver were:
China $4.69B
Mexico $2.84B
South Korea $1.96B
In 2023, United Kingdom's main importing competitors in Silver were:
United States $5.99B
Hong Kong $2.87B

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Trade Value of Silver by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $89.3M
TOP IMPORT POTENTIALChina+ $43.3M

Silver’s highest export potential is United States. With an export gap of $89.3M.   Silver’s highest import potential is China with an import gap of $43.3M.

See methodology.

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