Which Country Imports the Most Silver in the World?

Basic Precious Metals May 28, 2018
Author: Sergey Avramenko
Head of Global Markets Research Team

Which Country Imports the Most Silver in the World?

IndexBox has just published a new report "World: Silk Yarn And Yarn Spun From Silk Waste ; Market Report. Analysis and Forecast to 2025". Here is a summary of the report's key findings.

In 2016, the amount of silk yarn imported worldwide amounted to 4.4K tonnes, reducing by ;11.1% against the previous year level. In general, silk yarn imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2008, when import increased by 16% year;to;year. In that year, global silk yarn imports attained its maximum volume of 9.7K tonnes. From 2009 to 2016, growth of global silk yarn imports failed to regain its strength.

In value terms, silk yarn imports amounted to $217M in 2016. Overall, silk yarn imports continue to indicate a measured decrease. In that year, global silk yarn imports attained its maximum level of $304M. From 2012 to 2016, growth of global silk yarn imports stood at a somewhat lower level.

Top Silk Yarn Importing Countries in the World

1. Italy (87.6 million USD)

2. Japan (39.3 million USD)

3. United Kingdom (8.8 million USD)

4. India (8.3 million USD)

5. South Korea (8.3 million USD)

6. USA (7.2 million USD)

7. Viet Nam (6.7 million USD)

8. Romania (6.3 million USD)

9. China, Hong Kong SAR (5.4 million USD)

10. Pakistan (4.4 million USD)

11. Austria (1.7 million USD)

12. Indonesia (0.3 million USD)

Silk Yarn Imports By Country

Italy (1.4K tonnes) was the key importer of silk yarn in the world, reaching 1.4K tonnes, which was approx. 32% of total imports in 2016. Japan (726 tonnes) held a 16% share (based on tonnes) of global silk yarn imports, which put it in second place, following China, Hong Kong SAR (7%), and India (5%). The following importers ; Pakistan (161 tonnes), Indonesia (157 tonnes), South Korea (153 tonnes), Romania (144 tonnes), the UK (132 tonnes), the U.S. (118 tonnes), Viet Nam (111 tonnes), and Austria (92 tonnes) together made up 24% of total imports.

From 2007 to 2016, the most notable growth rate of silk yarn imports, among the main importing countries, was attained by Viet Nam (+21.8% per year), while the other global leaders experienced more modest paces of growth.

In value terms, Italy ($88M) constitutes the largest market for imported silk yarn worldwide, making up 40% of global imports. The second position in the ranking was occupied by Japan ($39M), with the share of 18% of global imports. It was followed by the UK, with the share of 4%.

From 2007 to 2016, the average annual rate of growth in terms of value of silk yarn imports in Italy declined by ;1.5%. In the other countries, the average annual rates were as follows: Japan (+0.7% per year) and the UK (+2.1% per year).

Silk Yarn Import Prices By Country

The average silk yarn import price stood at $49 per kg in 2016, leveling off at the previous year level. Overall, it indicated a remarkable expansion from 2007 to 2016: the import price value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2016, silk yarn import price decreased by ;10.1% against its level of 2013. The most prominent rate of growth was recorded in 2011, when import increased by 44% from the previous year level. Global silk yarn import peaked of $54 per kg in 2013; however, from 2014 to 2016, it stood at a somewhat lower level.

Import prices varied noticeably by country of destination. the country with the highest import prices was the UK ($67 per kg), while Indonesia ($2,216 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of silk yarn import prices was attained by South Korea (+6.2% per year), while the other global leaders experienced more modest paces of growth.

Do you want to know more about global silk yarn market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • silk yarn market share
  • silk yarn prices
  • silk yarn industry
  • silk yarn sales
  • silk yarn import
  • silk yarn export
  • silk yarn market forecast
  • silk yarn price forecast
  • key silk yarn producers

All data provided in this article covers the following product: HS Code 5004 ; Silk; yarn (other than yarn spun from silk waste), not put up for retail sale.

Source: World: Silk Yarn And Yarn Spun From Silk Waste ; Market Report. Analysis and Forecast to 2025"

"IndexBox has just published a new report "World: Silver Including Silver Plated With Gold Or Platinum - Market Report. Analysis and Forecast to 2025". Here is a summary of the report's key findings.

In 2016, approx. 72K tonnes of silver were imported worldwide- coming down by -5.6% against the previous year figure. In general, silver imports continue to indicate a moderate decline. The pace of growth appeared the most rapid in 2015, an increase of 5% year-to-year. Over the period under review, global silver imports reached its maximum volume of 92K tonnes in 2008- however, from 2009 to 2016, it stood at a somewhat lower level.

In value terms, silver imports stood at $17B in 2016. Overall, silver imports continue to indicate a temperate expansion. In that year, global silver imports attained its maximum level of $34B. From 2012 to 2016, growth of global silver imports failed to regain its strength.

Top Silver Importing Countries in the World

1. USA (4.4 billion USD)

2. United Kingdom (2.4 billion USD)

3. India (1.8 billion USD)

4. Canada (1.3 billion USD)

5. Japan (1.0 billion USD)

6. China (0.8 billion USD)

7. Switzerland (0.6 billion USD)

8. China, Hong Kong SAR (0.5 billion USD)

9. South Korea (0.4 billion USD)

10. Italy (0.4 billion USD)

11. Mexico (0.1 billion USD)

12. Russia (0.0 billion USD)

Silver Imports By Country

Japan (8.3K tonnes), the U.S. (7.8K tonnes), Mexico (6.8K tonnes), the UK (4.9K tonnes), Canada (4K tonnes), South Korea (3.5K tonnes), India (3.5K tonnes), China (3.4K tonnes), Russia (3.3K tonnes), and China, Hong Kong SAR (3.2K tonnes) represented roughly 68% of total imports of silver in 2016. The following importers - Switzerland (2.1K tonnes), and Italy (2.1K tonnes) occupied approx. 6% of total imports, each.

From 2007 to 2016, the most notable growth rate of silver imports, among the main importing countries, was attained by Canada (+6.8% per year), while the other global leaders experienced more modest paces of growth.

In value terms, the largest silver markets worldwide were the U.S. ($4.4B), the UK ($2.4B) and India ($1.8B), with a combined 50% share of global imports. These countries were followed by Canada, Japan, China, Switzerland, China, Hong Kong SAR, South Korea, Italy, Mexico and Russia, which together accounted for a further 29%.

Canada (+23.7% per year) experienced the highest rates of growth with regard to the silver imports, in terms of the main importing countries, over the last 9 years, while the other global leaders experienced more modest paces of growth.

Silver Import Prices By Country

The average silver import price stood at $242 per kg in 2016, flattening at the previous year level. In general, silver import price continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2011, when import price increased by 58% against the previous year level. Global silver import peaked of $433 per kg in 2012- however, from 2013 to 2016, it stood at a somewhat lower level.

Import prices varied noticeably by country of destination. the country with the highest import prices was the U.S. ($565 per kg), while Russia ($1,262 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of silver import prices was attained by Canada (+15.9% per year), while the other global leaders experienced more modest paces of growth.

Do you want to know more about global silver market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • silver market share
  • silver prices
  • silver industry
  • silver sales
  • silver import
  • silver export
  • silver market forecast
  • silver price forecast
  • key silver producers

All data provided in this article covers the following product: HS Code 7106 - Silver (including silver plated with gold or platinum)- unwrought or in semi-manufactured forms, or in powder form.

Source: World: Silver Including Silver Plated With Gold Or Platinum - Market Report. Analysis and Forecast to 2025