China’s silver export statistics
A possible correction
In my market report posted earlier today, and in my article posted on 22nd April (Silver’s price outlook) I stated that China stopped exporting silver in 2025. My source was the World Bank’s WIT trade statistics portal, which stated, and I quote: China did not export Silver in unwrought forms to All Countries in 2025. Its statistics for unwrought silver in 2024 and previous years appear correct.
Unwrought forms include bars and powder, but not finished products such as photovoltaics.
AI facilities,such as Grok, which rely on articles which may or may not use authoritative sources tell us that China exported about 5,100 tonnes. Accordingly, there is some dispute over the numbers, and we cannot rule out an error in the World Bank’s database, unlikely though it might seem.
However, the acceleration of imports in 2026 Q1 is not contested and the liquidity position in Western capital markets is as I have described.