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Where does India get its silver? Import sources 2024

In 2024, India imported $3.6 billion of silver (8 thousand tonnes), 11.9% of the world total. The United Arab Emirates sold 54% of the total, followed by the United Kingdom (11%) and Kazakhstan (5%). India was the world’s 4th-largest importer of silver.

Summary

Value
$3.6billion
Tonnes
8thousand tonnes
Share of world total
11.9%
World rank
4th
Routes from the main sources. Width: value; color: estimated transport mode.SeaAirLand

Sources

The 20 main sources in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
United Arab Emirates2Tonnes: 2,463USD per tonne: $800,59554.2%Air
United Kingdom0.4Tonnes: 2,116USD per tonne: $187,94610.9%Air
Kazakhstan0.18Tonnes: 219USD per tonne: $802,2924.8%Air
Switzerland0.17Tonnes: 193USD per tonne: $892,1774.7%Air
Hong Kong re-exports0.13Tonnes: 166USD per tonne: $797,6093.6%Air
Russia0.13Tonnes: 165USD per tonne: $771,2163.5%Air
Germany0.12Tonnes: 93USD per tonne: $1,275,7083.3%Air
Uzbekistan0.09Tonnes: 119USD per tonne: $781,7252.6%Air
Australia0.09Tonnes: 157USD per tonne: $566,3462.4%Air
Kyrgyzstan0.06Tonnes: 65USD per tonne: $846,1881.5%Air
Poland0.05Tonnes: 41USD per tonne: $1,311,2891.5%Air
Peru0.05Tonnes: 62USD per tonne: $829,6851.4%Air
South Korea0.05Tonnes: 88USD per tonne: $510,6391.2%Air
Taiwan0.04Tonnes: 35USD per tonne: $1,194,3121.2%Air
United States0.03Tonnes: 54USD per tonne: $553,7090.82%Air
Italy0.02Tonnes: 48USD per tonne: $483,1480.63%Air
South Africa0.02Tonnes: 35USD per tonne: $656,5750.63%Air
Thailand0.01Tonnes: 10USD per tonne: $881,1560.23%Air
Singapore re-exports0.01Tonnes: 14USD per tonne: $592,0310.22%Air
Turkey0.01Tonnes: 14USD per tonne: $424,5750.16%Air

Trend

Who it buys from

The United Arab Emirates has been its main source since 2024

Value in USD billions. The five largest sources in 2024.

  • United Arab Emirates 2
  • United Kingdom 0.4
  • Kazakhstan 0.18
  • Switzerland 0.17
  • Hong Kong 0.13

Source: CEPII BACI

Show the numbers
Partner19952024
United Arab Emirates0.062
United Kingdom0.070.4
Kazakhstan00.18
Switzerland0.080.17
Hong Kong< 0.010.13

Sources and methodology

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Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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