The World Market for Silver: A 2016 Global Trade Perspective

This report was created for strategic planners, international executives and import/export managers who are concerned with the market for silver. With the globalization of this market, managers can no longer be contented with a local view. Nor can managers be contented with out-of-date statistics that appear several years after the fact. I have developed a methodology, based on macroeconomic and trade models, to estimate the market for silver for those countries serving the world market via exports or supplying from various countries via imports. I do so for the current year based on a variety of key historical indicators and econometric models. On the demand side, exporters and strategic planners approaching the world market face a number of questions. Which countries are supplying silver? What is the dollar value of these imports? How much do the imports of silver vary from one country to another? Do exporters serving the world market have similar market shares across the importing countries? Which countries supply the most exports of silver? Which countries are buying their exports? What is the value of these exports and which countries are the largest buyers?

1 METHODOLOGY 10 1.1 Our Approach 10 2 THE WORLD MARKET 16 2.1 Exports 16 2.1.1 The World Market: Silver Export Supplies in 2016 16 2.2 Imports 18 2.2.1 The World Market: Imported Silver in 2016 18 3 EXPORTS 22 3.1 Africa: Export Supplies of Silver 22 3.1.1 Executive Summary 22 3.1.2 Mauritius 25 3.1.3 Morocco 26 3.1.4 Nigeria 26 3.1.5 South Africa 26 3.1.6 Tanzania 27 3.2 Asia: Export Supplies of Silver 27 3.2.1 Executive Summary 27 3.2.2 Burma 30 3.2.3 China 31 3.2.4 Hong Kong 32 3.2.5 India 33 3.2.6 Indonesia 33 3.2.7 Japan 34 3.2.8 Malaysia 35 3.2.9 North Korea 35 3.2.10 Papua New Guinea 35 3.2.11 Philippines 36 3.2.12 Singapore 36 3.2.13 South Korea 37 3.2.14 Taiwan 38 3.2.15 Thailand 39 3.2.16 Vietnam 39 3.3 Europe: Export Supplies of Silver 39 3.3.1 Executive Summary 39 3.3.2 Austria 44 3.3.3 Belarus 44 3.3.4 Belgium 45 3.3.5 Bosnia and Herzegovina 45 3.3.6 Bulgaria 46 3.3.7 Croatia 46 3.3.8 Cyprus 46 3.3.9 Czech Republic 47 3.3.10 Denmark 47 3.3.11 Estonia 48 3.3.12 Finland 48 3.3.13 France 49 3.3.14 Georgia 50 3.3.15 Germany 51 3.3.16 Greece 52 3.3.17 Hungary 52 3.3.18 Ireland 52 3.3.19 Italy 53 3.3.20 Kazakhstan 54 3.3.21 Latvia 54 3.3.22 Lithuania 54 3.3.23 Luxembourg 54 3.3.24 Malta 55 3.3.25 Norway 55 3.3.26 Poland 56 3.3.27 Portugal 56 3.3.28 Romania 57 3.3.29 Russia 57 3.3.30 Slovakia 57 3.3.31 Slovenia 58 3.3.32 Spain 59 3.3.33 Sweden 60 3.3.34 Switzerland 61 3.3.35 the Netherlands 62 3.3.36 the United Kingdom 63 3.3.37 Ukraine 64 3.4 Latin America: Export Supplies of Silver 64 3.4.1 Executive Summary 64 3.4.2 Argentina 67 3.4.3 Bolivia 68 3.4.4 Brazil 68 3.4.5 Chile 69 3.4.6 Colombia 69 3.4.7 Costa Rica 69 3.4.8 Honduras 70 3.4.9 Mexico 70 3.4.10 Panama 70 3.4.11 Peru 71 3.5 North America & the Caribbean: Export Supplies of Silver 71 3.5.1 Executive Summary 71 3.5.2 Canada 75 3.5.3 Cuba 75 3.5.4 Dominican Republic 75 3.5.5 the United States 76 3.6 Oceana: Export Supplies of Silver 77 3.6.1 Executive Summary 77 3.6.2 Australia 81 3.6.3 Fiji 81 3.6.4 New Zealand 82 3.7 the Middle East: Export Supplies of Silver 82 3.7.1 Executive Summary 82 3.7.2 Azerbaijan 85 3.7.3 Bahrain 86 3.7.4 Iraq 86 3.7.5 Israel 86 3.7.6 Jordan 86 3.7.7 Lebanon 87 3.7.8 Saudi Arabia 87 3.7.9 Syrian Arab Republic 87 3.7.10 the United Arab Emirates 88 3.7.11 Turkey 88 3.7.12 Uzbekistan 89 3.7.13 Yemen 89 4 IMPORTS 90 4.1 Africa: Silver Imports in 2016 90 4.1.1 Executive Summary 90 4.1.2 Algeria 93 4.1.3 Egypt 94 4.1.4 Mauritius 94 4.1.5 Morocco 95 4.1.6 South Africa 95 4.1.7 Tunisia 96 4.1.8 Zambia 96 4.1.9 Zimbabwe 96 4.2 Asia: Silver Imports in 2016 97 4.2.1 Executive Summary 97 4.2.2 Bhutan 100 4.2.3 China 101 4.2.4 Hong Kong 102 4.2.5 India 103 4.2.6 Indonesia 104 4.2.7 Japan 104 4.2.8 Malaysia 105 4.2.9 Nepal 105 4.2.10 Philippines 106 4.2.11 Singapore 106 4.2.12 South Korea 107 4.2.13 Sri Lanka 107 4.2.14 Taiwan 108 4.2.15 Thailand 109 4.3 Europe: Silver Imports in 2016 109 4.3.1 Executive Summary 109 4.3.2 Albania 113 4.3.3 Austria 114 4.3.4 Belgium 115 4.3.5 Bosnia and Herzegovina 115 4.3.6 Bulgaria 116 4.3.7 Croatia 116 4.3.8 Cyprus 117 4.3.9 Czech Republic 117 4.3.10 Denmark 118 4.3.11 Estonia 118 4.3.12 Finland 119 4.3.13 France 120 4.3.14 Georgia 120 4.3.15 Germany 121 4.3.16 Greece 122 4.3.17 Hungary 122 4.3.18 Iceland 123 4.3.19 Ireland 123 4.3.20 Italy 124 4.3.21 Kazakhstan 125 4.3.22 Latvia 125 4.3.23 Lithuania 125 4.3.24 Luxembourg 126 4.3.25 Malta 126 4.3.26 Norway 127 4.3.27 Poland 128 4.3.28 Portugal 128 4.3.29 Slovakia 129 4.3.30 Slovenia 129 4.3.31 Spain 130 4.3.32 Sweden 131 4.3.33 Switzerland 132 4.3.34 the Netherlands 133 4.3.35 the United Kingdom 134 4.3.36 Ukraine 135 4.4 Latin America: Silver Imports in 2016 135 4.4.1 Executive Summary 135 4.4.2 Argentina 140 4.4.3 Bolivia 140 4.4.4 Brazil 141 4.4.5 Chile 141 4.4.6 Colombia 142 4.4.7 Costa Rica 142 4.4.8 Ecuador 142 4.4.9 El Salvador 143 4.4.10 Guatemala 143 4.4.11 Mexico 144 4.4.12 Panama 144 4.4.13 Peru 145 4.4.14 Venezuela 145 4.5 North America & the Caribbean: Silver Imports in 2016 145 4.5.1 Executive Summary 145 4.5.2 Aruba 148 4.5.3 Canada 149 4.5.4 Dominican Republic 150 4.5.5 the United States 151 4.6 Oceana: Silver Imports in 2016 152 4.6.1 Executive Summary 152 4.6.2 Australia 156 4.6.3 New Zealand 157 4.7 the Middle East: Silver Imports in 2016 157 4.7.1 Executive Summary 157 4.7.2 Armenia 161 4.7.3 Bahrain 162 4.7.4 Iran 162 4.7.5 Israel 163 4.7.6 Jordan 163 4.7.7 Lebanon 164 4.7.8 Oman 164 4.7.9 Pakistan 165 4.7.10 Qatar 165 4.7.11 Saudi Arabia 166 4.7.12 the United Arab Emirates 167 4.7.13 Turkey 168 5 DISCLAIMERS, WARRANTEES, AND USER AGREEMENT PROVISIONS 169 5.1 Disclaimers & Safe Harbor 169 5.2 ICON Group International, Inc. User Agreement Provisions 170