2023
Exports
$730MWorld Rnk 15 / 136
Flag Rnk 46 / 1200
2023
PRODUCT COMPLEXITY IN Silver
-0.85Rnk 794 / 1025
2023
Imports
$7.81MWorld Rnk 52 / 179
Flag Rnk 798 / 1186
2023
ECONOMIC COMPLEXITY of Russia
0.3Rnk 50 / 132

About

Exports In 2023, Russia exported $730M in Silver, making it the 15th largest exporter of Silver in the world. At the same year, Silver was the 46th most exported product in Russia. The main destination of Silver exports from Russia are: India ($213M), United Arab Emirates ($195M), Hong Kong ($182M), Turkey ($70.9M), and Armenia ($36.8M).

The fastest growing export markets for Silver of Russia between 2022 and 2023 were Hong Kong ($169M), United Arab Emirates ($97.5M), and Armenia ($34.4M).

Imports In 2023, Russia imported $7.81M in Silver, becoming the 52nd largest importer of Silver in the world. At the same year, Silver was the 798th most imported product in Russia. Russia imports Silver primarily from: Italy ($4.32M), Kazakhstan ($758k), Armenia ($735k), Turkey ($550k), and Portugal ($485k).

The fastest growing import markets in Silver for Russia between 2022 and 2023 were Italy ($1.1M), Kazakhstan ($758k), and Armenia ($462k).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

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

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

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$730M
IMPORTS (2023)$7.81M
NET TRADE (2023)$722M

In 2023, Russia exported $730M in Silver. The main destinations of Russia exports on Silver were India ($213M), United Arab Emirates ($195M), Hong Kong ($182M), Turkey ($70.9M), and Armenia ($36.8M).

In 2023, Russia imported $7.81M in Silver, mainly from Italy ($4.32M), Kazakhstan ($758k), Armenia ($735k), Turkey ($550k), and Portugal ($485k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Silver EXPORT MARKETS FOR Russia WERE (2022 - 2023):
Hong Kong$169M (1.37k%)
United Arab Emirates$97.5M (99.8%)
Armenia$34.4M (1.46k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Silver BY Russia WERE (2022 - 2023):
Turkey-$422M (-85.6%)
Italy-$58.9M (-100%)
Germany-$15.8M (-97%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Russia's main exporting competitors in Silver were:
In 2023, Russia's main importing competitors in Silver were:

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Trade Value of Silver by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $19.8M
TOP IMPORT POTENTIALPoland+ $1.06M

Silver’s highest export potential is Germany. With an export gap of $19.8M.   Silver’s highest import potential is Poland with an import gap of $1.06M.

See methodology.

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