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2022
Exports $3.2BWorld Rnk 2 / 144
Flag Rnk 23 / 1216
2022
Destination $486M Canada
2021 - 2022
FASTEST GROWING MARKET $486MTurkey
2022
PRODUCT COMPLEXITY IN Silver-0.98Rnk 832 / 1025
2022
Imports $2.33BWorld Rnk 4 / 182
Flag Rnk 54 / 1214
2022
Origin $62.3M Kazakhstan
2021 - 2022
FASTEST GROWING ORIGIN $62.3MUnited States
2022
ECONOMIC COMPLEXITY of United Kingdom1.42Rnk 12 / 133

About

Exports In 2022, United Kingdom exported $3.2B in Silver, making it the 2nd largest exporter of Silver in the world. At the same year, Silver was the 23rd most exported product in United Kingdom. The main destination of Silver exports from United Kingdom are: Canada ($1.17B), Switzerland ($492M), Turkey ($486M), Germany ($304M), and Spain ($243M).

The fastest growing export markets for Silver of United Kingdom between 2021 and 2022 were Turkey ($486M), Switzerland ($361M), and Spain ($168M).

Imports In 2022, United Kingdom imported $2.33B in Silver, becoming the 4th largest importer of Silver in the world. At the same year, Silver was the 54th most imported product in United Kingdom. United Kingdom imports Silver primarily from: Kazakhstan ($572M), Hong Kong ($371M), Poland ($361M), Spain ($302M), and Germany ($161M).

The fastest growing import markets in Silver for United Kingdom between 2021 and 2022 were United States ($62.3M), Spain ($55.9M), and Germany ($43.2M).

Latest Trends

August 2024

About

Overview In August 2024 United Kingdom's Silver exports accounted up to £619M and imports accounted up to £194M, resulting in a positive trade balance of £425M. Between August 2023 and August 2024 the exports of United Kingdom's   Silver have increased by £568M (1.11k%) from £50.9M to £619M, while imports decreased by £-74.4M (-27.7%) from £268M to £194M.

Destinations In August 2024, Silver were exported mostly to India (£588M), Belgium (£15.3M), Switzerland (£13.2M), Germany (£1.57M), and United States (£227k), and were imported mostly from Germany (£57.8M), China (£50.5M), Poland (£43.1M), Australia (£17.5M), and Spain (£12.8M).

Growth In August 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 August 2024, the decrease in Silver's year-by-year imports was explained primarily by a decrease in imports from Germany (£-15.4M or -90.2%), France (£-9.77M or -43.6%), and Spain (£-6.81M or -31.4%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)£568M(1.11k%)
IMPORT GROWTH (August 2023 - August 2024)£-74.4M(-27.7%)
MAIN EXPORTER (August 2024)London Heathrow Airport£740M
MAIN DESTINATION (August 2024)India£588M

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
EXPORTS (2022)$3.2B
IMPORTS (2022)$2.33B
NET TRADE (2022)$868M

In 2022, United Kingdom exported $3.2B in Silver. The main destinations of United Kingdom exports on Silver were Canada ($1.17B), Switzerland ($492M), Turkey ($486M), Germany ($304M), and Spain ($243M).

In 2022, United Kingdom imported $2.33B in Silver, mainly from Kazakhstan ($572M), Hong Kong ($371M), Poland ($361M), Spain ($302M), and Germany ($161M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Silver EXPORT MARKETS FOR United Kingdom WERE (2021 - 2022):
Turkey$486M (713k%)
Switzerland$361M (277%)
Spain$168M (227%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Silver BY United Kingdom WERE (2021 - 2022):
India-$524M (-81.4%)
Germany-$104M (-25.5%)
United States-$55.1M (-24.6%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United Kingdom's main exporting competitors in Silver were:
China $3.75B
Mexico $2.49B
In 2022, United Kingdom's main importing competitors in Silver were:
United States $5.81B
Canada $3.77B
Hong Kong $2.95B

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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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