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World - Silver Including Silver Plated With Gold Or Platinum - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

World - Silver Including Silver Plated With Gold Or Platinum - Market Analysis, Forecast, Size, Trends and Insights

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Dec 11, 2023

Top Import Markets for Silver: Key Statistics

The world's best import markets for silver play a crucial role in the global trade of this precious metal. Silver, known for its beauty and versatility, is in high demand across various industries such as jewelry, electronics, and healthcare. Understanding the import value of silver in different countries can provide insights into the trends and opportunities in the global market.

1. India: Leading Import Market for Silver

India tops the list as the largest import market for silver, with an import value of $6.4 billion in 2022 according to the IndexBox market intelligence platform. This significant import value showcases the country's strong demand for silver as it is a popular choice for jewelry, especially during festive seasons and weddings. The growing middle class and rising disposable income in India have contributed to the increased import of silver.

2. United States: High Demand for Silver

The United States ranks second on the list of the world's best import markets for silver, with an import value of $5.4 billion in 2022. The country's demand for silver stems from various sectors including jewelry, electronics, and investment purposes. The US jewelry industry, in particular, drives the import of silver as it is widely used in the production of silver jewelry.

3. Canada: Growing Import Market

Canada has emerged as a notable import market for silver, with an import value of $2.5 billion in 2022. The country's silver imports have shown considerable growth over the years, driven by the demand from the industrial sector, especially in the production of solar panels and electronics. The increasing focus on renewable energy sources has further boosted the import of silver in Canada.

4. Hong Kong SAR: Strategic Import Hub

Hong Kong Special Administrative Region (SAR) holds a prominent position in the global silver trade with an import value of $2.4 billion in 2022. The region plays a vital role as an import hub for silver, facilitating its distribution to various regions, particularly in East Asia. Hong Kong SAR also benefits from its proximity to major manufacturing centers in China, which contributes to its strong import market for silver.

5. United Kingdom: Significant Demand for Silver

The United Kingdom imports silver worth $2.2 billion in 2022, demonstrating its substantial demand for this precious metal. The UK's import market for silver is driven by the jewelry industry, with silver being a popular choice among consumers. The country's rich history and cultural affinity towards silver also contribute to its high import value.

6. Turkey: Growing Silver Imports

Turkey has witnessed a significant increase in silver imports, reaching $1.5 billion in 2022. The country's demand for silver primarily comes from its jewelry industry, which is renowned globally for its intricate designs and craftsmanship. Turkey's silver imports have surged due to the growing popularity of silver jewelry both domestically and in international markets.

7. Germany: Prominent Importer of Silver

Germany ranks among the top import markets for silver, with an import value of $1.5 billion in 2022. The country's strong industrial sector drives the demand for silver, particularly in the automotive and electronics industries. Silver is used in various applications such as electrical contacts, mirrors, and solar panels, contributing to Germany's significant imports.

8. Switzerland: Hub for Precious Metals

Switzerland, known for its expertise in the precious metals industry, imports silver worth $1.4 billion in 2022. The country's strategic location and well-established trade infrastructure make it a preferred destination for silver imports. Switzerland also houses some of the world's leading refineries, further reinforcing its position as a key player in the silver trade.

9. Japan: Growing Demand for Silver

Japan's import market for silver has witnessed steady growth, with an import value of $1.3 billion in 2022. The country's strong electronics industry drives the demand for silver, which is used in various electronic components. Japan's aging population also contributes to the increased import of silver as it is a preferred choice in healthcare applications such as medical devices and equipment.

10. China: Rising Import Market

China, the world's largest consumer of silver, imports silver worth $1.1 billion in 2022. The country's significant imports are driven by its growing manufacturing sector, particularly in electronics and solar energy. China is also home to a vast consumer market, contributing to the high demand for silver in various industries.

Understanding the import markets for silver is crucial for stakeholders in the silver industry, including producers, traders, and investors. The data provided by the IndexBox market intelligence platform offers valuable insights into the import value of silver in different countries, helping businesses make informed decisions and identify potential opportunities in these markets.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global silver market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 24411030 - Silver, unwrought or in powder form (including plated with gold or platinum)
  • Prodcom 24411050 - Silver, in semi-manufactured forms (including plated with gold or platinum) (excluding unwrought or in powder form)

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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