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Who buys South Korea’s silver? Export destinations 2024

In 2024, South Korea exported $2.2 billion of silver (3 thousand tonnes), 7.4% of the world total. Its main destinations were Japan (42%), Hong Kong (18%) and the United States (17%). South Korea was the world’s 3rd-largest exporter of silver.

Summary

Value
$2.2billion
Tonnes
3thousand tonnes
Share of world total
7.4%
World rank
3rd
Routes to the main destinations. Width: value; color: estimated transport mode.SeaAirLand

Destinations

The 20 main destinations in the latest year.

PartnerValue (USD millions)TonnesUSD per tonneShareMode
Japan945Tonnes: 1,106USD per tonne: $854,05042%Air
Hong Kong re-exports395Tonnes: 465USD per tonne: $849,20817.6%Air
United States387Tonnes: 404USD per tonne: $958,37517.2%Air
Canada194Tonnes: 194USD per tonne: $996,1958.6%Air
Thailand82.8Tonnes: 135USD per tonne: $612,2343.7%Air
Australia77.6Tonnes: 116USD per tonne: $671,1643.5%Air
India45.1Tonnes: 88USD per tonne: $510,6392%Air
China41Tonnes: 291USD per tonne: $141,0881.8%Air
Taiwan28.5Tonnes: 37USD per tonne: $775,3091.3%Air
Germany10.2Tonnes: 12USD per tonne: $863,2480.45%Air
Switzerland9.6Tonnes: 11USD per tonne: $906,8690.43%Air
Vietnam7.4Tonnes: 105USD per tonne: $70,1950.33%Air
Spain5.8Tonnes: 7USD per tonne: $850,9100.26%Air
Indonesia5.4Tonnes: 12USD per tonne: $466,4250.24%Air
Singapore re-exports2.9Tonnes: 24USD per tonne: $119,9510.13%Air
Malaysia2.3Tonnes: 43USD per tonne: $53,9040.1%Air
Italy2.1Tonnes: 2USD per tonne: $876,4440.09%Air
Philippines2Tonnes: 6USD per tonne: $357,2730.09%Air
Malta0.99Tonnes: 12USD per tonne: $85,4900.04%Air
United Kingdom0.8Tonnes: 2USD per tonne: $491,9030.04%Air

Trend

Who it sells to

Japan has been its main destination since 2000

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

  • Japan 0.94
  • Hong Kong 0.4
  • United States 0.39
  • Canada 0.19
  • Thailand 0.08

Source: CEPII BACI

Show the numbers
Partner19952024
Japan< 0.010.94
Hong Kong< 0.010.4
United States< 0.010.39
Canada< 0.010.19
Thailand0.010.08

Sources and methodology

Other products of this country

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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