Key Highlights:

• Amid geopolitical disturbances, silver is standing stronger as an investment than before.
  

• The HSN code for silver jewelry is 7114 11 00.
  

• The data provided in the blog is from August 2025 to February 2026.
  

• The total value of the top 5 countries mentioned in the blog is nearly $1,410,301,680.60.

Get Access To Silver Trade Data

In global trade, silver stands firm due to its wide use in jewelry manufacturing, electronics, renewable energy tech, and investment stocks. The rising industrial demand and traditional importance of silver jewelry have made silver import and export an essential part of international trade. Many countries around the world rely on global supply chains to meet their silver needs, particularly for jewelry production at an industrial scale.

For businesses dealing in precious metals, knowing silver import patterns, supplier countries, and market supply flow can provide valuable insights into rising trade opportunities. Trade data intel allows importers, exporters, and silver jewelry importers to identify the global market flow and make measured decisions in an evolving valuable metals market.

Key HSN Code for Silver (chapter code 71)

• 7106 10 00: Silver powder.
  

• 7106 91 00: Unwrought silver (bars, grains, bullion).
  

• 7106 92 10: Semi-manufactured sheets, plates, strips, tubes, and pipes.
  

• 7106 92 90: Other semi-manufactured forms (e.g., silver brazing rods).
  

• 7114 11 00: Articles of silver (jewelry/utensils).

Let's dive deep into the trade insight of silver articles:

Top 5 Silver-Importing Countries: 

 

• India is the highest importer, with a value of $1,333,122,028.03 for its silver imports, making it the major silver market.
  
  
• Malaysia is the second country, with a lower import value of $62,610,481.93, showing a consistent trend for the country.
  
  
• Vietnam's import value for silver is $13,457,943.78, showing a rise in the market.
  
  
• For Uzbekistan, the import value for silver is $626,976.97, a minor contribution to the market.
  
  
• Indonesia's import value for silver is $484,249.89, a minor portion of the market.
  
  
  

  The Top Companies Buying Silver:

  Countries	Value (USD)
  IJBL REFINERIES	$664,782,520.40
  JB METALS	$152,772,286.47
  ENERO JEWELS PRIVATE LIMITED	$145,356,700
  HINDUSTAN PLATINUM PRIVATE LIMITED	$90,763,754.25
  ANMYA METALS PRIVATE LIMITED	$56,542,810

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  • IJBL Refineries is at the top of the list, with a silver import value of $664,782,520.40, making them the largest importers of the aforementioned firms.

  • JB Metals follows, with a figure of $152,772,286.47, showing a substantial share of the market for the import trade of silver.

  • Enero Jewels Private Limited had a figure of $145,356,700 for the import of silver, showing a substantial share of the market for the import trade of jewelry and precious metals.

  • Hindustan Platinum Private Limited had a figure of $90,763,754.25 for the import of silver, showing a substantial share of the market for the import trade of industrial and precious metals.

  • Anmya Metals Private Limited had a figure of $56,542,810 for the import of silver, showing a small share of the market for the import trade.
    
    Amid an uncertain market and geopolitical situation, it is witnessing silver rising in its supply flow and holding more investment value due to its use in jewelry and industrial applications, with countries like India leading the silver import. In such a competitive market, access to authentic trade intel like EXIM by The Dollar Business, a reliable brand, becomes more crucial than ever before. By powering detailed import-export data, businesses can track silver import trends, spot primary suppliers, and discover new trading opportunities, helping traders and silver dealing businesses make calculated decisions in the international precious metals market. 

  Get Access To Silver Trade Data

  
  Frequently Asked Questions (FAQs)

  1. Which are the top 3  key companies leading the silver import market?
  IJBL REFINERIES, valued at $664,782,520.40, is leading the silver import market, followed by JB METALSJB METALS, valued at $152,772,286.47, and ENERO JEWELS PRIVATE LIMITED, valued at $145,356,700, respectively.
  
  2. Why are smart Trade Intel's like EXIM now more essential than before?
  Smart trade intel gives real-time data, updated shipments, trend analysis, and many more features, which make trading less risky and enable making decisions based on authentic data and calculated moves.
  
  3. What is the HSN code for Unwrought silver?
  The HSN code for Unwrought silver 7106 91 00. 
  
  4. Which country largest importer of silver?
  India dominates the silver supply chain in the import market, valued at $1,333,122,028.03. 
  
  5. How is silver used for electrical products?
  Silver is used in electronics for its high electrical conductivity and is commonly found in circuit boards, connectors, and electronic switches.

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