globaltraffic.earth

Silver: top exporters and importers (2024)

In 2024, world trade in silver totaled $30.6 billion (55 thousand tonnes). The top exporters were China (17%), Mexico (10%) and South Korea (7%); the top importers were the United States (17%), the United Kingdom (14%) and Hong Kong (13%). Compared with 2019, the value rose 78%.

Summary

World trade
$30.6billion
Tonnes
55thousand tonnes
Price per tonne
$554,406
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

China 16.7% · Mexico 10.1%
  1. China$5.1 billion · 16.7%
    see destinations
  2. Mexico$3.1 billion · 10.1%
    see destinations
  3. South Korea$2.2 billion · 7.4%
    see destinations
  4. United Arab Emirates$2.1 billion · 6.9%
    see destinations
  5. Germany$2 billion · 6.7%
    see destinations
  6. Switzerland$1.7 billion · 5.7%
    see destinations
  7. Japan$1.5 billion · 4.9%
    see destinations
  8. United States$1.3 billion · 4.4%
  9. Poland$1.3 billion · 4.1%
  10. United Kingdom$1.1 billion · 3.6%
  11. Canada$1.1 billion · 3.5%
  12. Hong Kong$759 million · 2.5%
    re-exports
  13. Kazakhstan$739 million · 2.4%
  14. Russia$588 million · 1.9%
  15. Italy$563 million · 1.8%
  16. Armenia$556 million · 1.8%
  17. Belgium$486 million · 1.6%
    re-exports
  18. Taiwan$402 million · 1.3%
  19. Chile$347 million · 1.1%
  20. Peru$325 million · 1.1%

World supply

China 16.7% of exports · top 3 34.2%

China went from 0.13% to 16.7% of world exports of silver

In 2024, China accounted for 16.7% of recorded world exports and the three largest exporters together for 34.2%. HHI: 681 out of 10,000; equivalent to 15 exporters of the same size.

Share of recorded exports, not of production: a country that produces a lot and consumes almost all of it may export little

Trend in supply

Share of world exports of the largest exporter and of the three largest

Share (%)

  • Largest exporter each year 16.7%
  • Three largest 34.2%

Source: CEPII BACI

Show the numbers
Year19952024
Largest exporter each year21.8%16.7%
Three largest41.8%34.2%

Countries where China sells more than half of what they buy

Countries that buy more than half of this product from its largest exporter, with its share.

Top importers

United States 17.4% · United Kingdom 13.6%
  1. United States$5.3 billion · 17.4%
    see sources
  2. United Kingdom$4.2 billion · 13.6%
    see sources
  3. Hong Kong$4 billion · 13.1%
    re-exports · see sources
  4. India$3.6 billion · 11.9%
    see sources
  5. Japan$1.4 billion · 4.7%
    see sources
  6. Canada$1.4 billion · 4.5%
  7. China$1.4 billion · 4.4%
  8. United Arab Emirates$1.1 billion · 3.7%
  9. Switzerland$1.1 billion · 3.6%
  10. Germany$1 billion · 3.4%
  11. Italy$742 million · 2.4%
  12. Thailand$669 million · 2.2%
  13. Taiwan$598 million · 2%
  14. France$584 million · 1.9%
  15. Turkey$468 million · 1.5%
  16. Armenia$390 million · 1.3%
  17. Australia$325 million · 1.1%
  18. Russia$190 million · 0.62%
  19. South Korea$181 million · 0.59%
  20. Singapore$158 million · 0.52%
    re-exports

Trend

China has been the top exporter since 2021

Who sells it

China has been the top exporter since 2021

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

  • China 5.1
  • Mexico 3.1
  • South Korea 2.2
  • United Arab Emirates 2.1
  • Germany 2

Source: CEPII BACI

Show the numbers
Country19952024
China0.015.1
Mexico0.343.1
South Korea0.032.2
United Arab Emirates0.112.1
Germany0.182

Price

The price per tonne rose 1,460% since 2000

Implied price

The price per tonne rose 1,460% since 2000

Current US dollars per tonne: value over the weight reported by BACI.

  • 2024: $554,406

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995—
1996—
1997—
1998—
1999—
2000$35,545
2001$9,886
2002$107,201
2003$146,612
2004$86,275
2005$178,706
2006$246,001
2007$273,342
2008$275,181
2009$332,638
2010$433,730
2011$634,549
2012$631,030
2013$585,519
2014$61,442
2015$429,162
2016$463,101
2017$456,770
2018$419,727
2019$427,993
2020$528,119
2021$644,419
2022$580,301
2023$585,261
2024$554,406

What it includes

Code 7106
  • 7106 · Silver

Products in the same chapter

Sources and methodology

CEPII BACI and 1 more

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.

See all products