Unwrought silver in bars, ingots, and granules, traded as both an industrial metal (electronics, solar panels) and precious commodity.
Silver is soldered onto printed circuit boards, screen-printed onto solar cells to form conductive pathways, and crafted into jewellery. The UAE's precious-metals trading infrastructure handles large volumes of silver bullion in transit between mining countries and Asian manufacturers. Growing solar panel installation globally is driving industrial silver demand upward.
India is the largest buyer, importing $1,938 million from Hormuz suppliers.
Kuwait is the most dependent, sourcing 93% of its imports of this product from Hormuz suppliers.
Outside Hormuz, China leads with 20.5% of global exports.
Hormuz suppliers' share of global metals: silver, unwrought, (but not powd exports has grown over the period covered.