HS Code:
The 'Other materials containing silver' category (HS Code: 7115.90) includes various articles and materials that contain silver, not elsewhere specified or included in other HS codes. This category typically encompasses silver alloys, silver-plated items, and other silver-containing products used in industrial, decorative, or technical applications. These materials are valued for their conductivity, antimicrobial properties, and aesthetic appeal, making them essential in electronics, jewelry, and medical industries.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand in electronics
Increased use of silver in conductive materials for semiconductors and solar panels has boosted trade volumes, particularly in Asia-Pacific markets.
2021-2022
Fluctuating silver prices
Volatility in global silver prices has influenced trade patterns, with buyers seeking stable supply chains in countries with lower production costs.
2020-2022
Sustainability focus
Growing emphasis on recycled silver has led to new trade routes for scrap silver materials, impacting traditional mining-based exports.
2022
A new phase of the US-China trade agreement has reduced tariffs on silver-containing materials, facilitating increased imports of electronic components.
March 2023
Expected to boost trade volume by 10% between the two countries over the next year.
The European Union introduced stricter environmental regulations under the Green Deal, requiring certification for sustainably sourced silver materials.
July 2023
May increase compliance costs for exporters to the EU, potentially shifting trade to less regulated markets.
A major strike in Peru, a key silver-producing country, disrupted supply chains for raw silver materials used in industrial applications.
September 2023
Temporary price spikes and trade diversions to alternative suppliers in Mexico and Australia.