Unwrought silver trade by country: top importers, exporters and prices
World trade in unwrought silver was worth $25.07 billion in 2024, about 33.8 thousand tonnes. That is an increase of 73% since 2017, and up 13% on 2023.
Public statistics, latest complete year (2024). Values in US dollars. Page updated .
World trade by year, 2017-2024
Hover or tap a year for detail.
Year by year
| Year | Value | Quantity |
|---|---|---|
| 2024 | $25.07B | 33.8K t |
| 2023 | $22.28B | 29.2K t |
| 2022 | $21.07B | 28.3K t |
| 2021 | $26.12B | 32.2K t |
| 2020 | $17.90B | 26.2K t |
| 2019 | $13.34B | 24.9K t |
| 2018 | $14.00B | 27.1K t |
| 2017 | $14.47B | 25.6K t |
Top unwrought silver exporting countries
China is the largest exporter with 20% of world exports, followed by Mexico and the United Arab Emirates. The top three supply 39% between them, out of 107 exporting countries.
| Exporter | Value | Share |
|---|---|---|
| China | $4.93B | 20% |
| Mexico | $2.88B | 12% |
| United Arab Emirates | $2.08B | 8.3% |
| South Korea | $1.87B | 7.4% |
| United Kingdom | $1.79B | 7.2% |
| Switzerland | $1.65B | 6.6% |
| Germany | $1.58B | 6.3% |
| Poland | $1.16B | 4.6% |
| Canada | $896.4M | 3.6% |
| Kazakhstan | $638.4M | 2.6% |
| Hong Kong | $545.0M | 2.2% |
| Belgium | $459.8M | 1.8% |
Top importing countries and buyer markets
The United States is the biggest buyer with 20% of world imports, ahead of Hong Kong and the United Kingdom. Demand is concentrated: the top three take 51% across 129 importing countries.
| Importer | Value | Share |
|---|---|---|
| United States | $5.00B | 20% |
| Hong Kong | $4.00B | 16% |
| United Kingdom | $3.69B | 15% |
| India | $3.21B | 13% |
| Japan | $1.32B | 5.3% |
| Switzerland | $1.21B | 4.8% |
| Canada | $1.05B | 4.2% |
| United Arab Emirates | $1.03B | 4.1% |
| Germany | $796.1M | 3.2% |
| Italy | $576.9M | 2.3% |
| Thailand | $443.3M | 1.8% |
| Turkey | $435.0M | 1.7% |
Average price per kg
The world average declared value was about $741.00 per kg in 2024. Among the main exporters, Mexico averaged $979.53 per kg and the United Arab Emirates $781.51 per kg, so grade and origin matter.
Declared value divided by weight, all 2024 shipments worldwide. Prices per shipment and per company are in EximDataX.
Related product types
Who is behind these numbers in this market?
The shipment records behind Unwrought silver (HS 7106.91) importers and exporters, worldwide: companies, dates, quantities and declared values.
Shipment records are in the platform
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Source: CEPII BACI (reconciled UN Comtrade data), HS 2017 edition, release 202601, Etalab Open Licence 2.0. Annual values in US dollars at the customs border; quantities in tonnes where reported. HS 7106.91: Metals: silver, unwrought, (but not powder). HS 7106 codes.
Common questions
Which countries export the most unwrought silver?
China exported $4.93 billion in 2024, 20% of the world total, followed by Mexico (12%) and the United Arab Emirates (8%). In all, 107 countries reported exports of this product. The full ranking and map are on this page.
Which countries import the most unwrought silver?
The United States imported $5.00 billion in 2024, 20% of world imports, ahead of Hong Kong (16%) and the United Kingdom (15%). The top three importers together take 51%. Each country with its own page is linked from the table.
How big is the world trade in unwrought silver?
It was worth $25.07 billion in 2024, about 33.8 thousand tonnes. That is an increase of 73% since 2017. The peak year was 2021 at $26.12 billion. 107 countries reported exports and 129 reported imports.
What is the average price of unwrought silver per kg?
The world average declared value was about $741.00 per kg in 2024. Among the main exporters, Mexico averaged $979.53 per kg and the United Arab Emirates $781.51 per kg, so grade and origin matter. The average mixes every grade and size, so use it as a market reference rather than an offer.
What is the HS code for unwrought silver?
The HS code for unwrought silver is subheading 7106.91, in chapter 71 (natural, cultured pearls; precious, semi-precious stones; precious metals, metals clad with precious metal, and articles thereof; imitation jewellery; coin). The first six digits are the same in every country; national tariffs add more. The full list of codes is on the HS 7106 page.
How can I find unwrought silver buyers and suppliers?
EximDataX shows the importers and exporters of unwrought silver by name, from shipment-level customs records updated weekly. Ask for a live look at the markets you sell to.
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