Peru Unwrought Silver HS710691 Export Data 2025 Q1 Overview

Peru Unwrought Silver (HS 710691) 2025 Q1 Export: Key Takeaways

Peru's Unwrought Silver exports (HS Code 710691) in 2025 Q1 reveal a high-value market dominated by Switzerland, accounting for 40.27% of export value, signaling premium-grade shipments. Buyer concentration is significant, with Switzerland and Brazil forming distinct high-value and high-volume clusters, while industrial demand drives steady imports from the U.S. and Canada. This analysis, based on cleanly processed Customs data from the yTrade database, highlights Peru's strategic focus on premium markets amid rising global silver prices.

Peru Unwrought Silver (HS 710691) 2025 Q1 Export Background

What is HS Code 710691?

HS Code 710691 refers to Silver, unwrought, a semi-processed form of silver used primarily in industrial applications, jewelry, and investment products. Its demand is driven by global manufacturing needs, particularly in electronics and renewable energy sectors, as well as its role as a hedge against inflation. The product’s standardized classification under HS Code 710691 ensures consistent trade tracking across markets.

Current Context and Strategic Position

In Q1 2025, Peru’s Unwrought Silver (HS Code 710691) Export dynamics were influenced by rising global silver prices, which surged by over 14% in early 2025 due to economic instability and industrial demand [PriceWatch]. Peru, the 23rd largest global silver exporter in 2023 [OEC], remains a key supplier, with no publicly reported export restrictions for this period [OECD]. Market vigilance is critical as price volatility and demand shifts could impact Peru’s 2025 Q1 trade performance.

Peru Unwrought Silver (HS 710691) 2025 Q1 Export: Trend Summary

Key Observations

Peru's Unwrought Silver exports under HS Code 710691 for Q1 2025 totaled approximately 102.20 million USD in value and 85.80 thousand kg in volume, reflecting strong quarterly performance driven by elevated global demand and price trends.

Price and Volume Dynamics

Monthly data shows significant volatility within Q1, with value surging from 21.15 million USD in January to 42.05 million USD in February—a near doubling—while weight increased from 19.04 thousand kg to 31.67 thousand kg. March saw a slight pullback to 39.00 million USD and 35.09 thousand kg. This pattern is typical for silver markets, where Q1 often experiences fluctuations due to industrial replenishment cycles and speculative trading ahead of seasonal demand peaks. The overall Q1 growth aligns with the metal's role in electronics and renewable energy sectors, sustaining export momentum.

External Context and Outlook

Global silver prices were rising in early 2025, with a reported 20% increase in Q3 2025 [PriceWatch], which likely bolstered Peru's export values in Q1. No new export restrictions emerged [OECD], ensuring stable trade flows. Continued demand from key industries and investment markets supports a positive outlook for Peru Unwrought Silver HS Code 710691 Export through 2025.

Peru Unwrought Silver (HS 710691) 2025 Q1 Export: HS Code Breakdown

Product Specialization and Concentration

According to yTrade data, the Peru Unwrought Silver HS Code 710691 Export market in 2025 Q1 is highly concentrated, with sub-code 7106911000 dominating at a 56% value share. This sub-code, described as unwrought silver, has a unit price of 1044 USD per kilogram, while the less prevalent sub-code 7106912000 commands a higher price of 1455 USD per kilogram, indicating a clear specialization in grade or form within the same product category.

Value-Chain Structure and Grade Analysis

The market structure for Peru Unwrought Silver HS Code 710691 Export in 2025 Q1 consists of two main groups based on unit price: a lower-priced variant (7106911000) and a higher-priced one (7106912000), both as unwrought silver. This suggests a trade in fungible bulk commodities, where price differences likely reflect variations in purity or processing standards, rather than value-add stages, with prices tied to global commodity indices.

Strategic Implication and Pricing Power

For exporters, the grade differentiation allows for targeting premium markets with higher-priced silver. The ongoing silver price increases, such as the 20% rise noted in Q3 2025 by [PriceWatch], enhance pricing power for Peru Unwrought Silver HS Code 710691 Export in 2025 Q1. This environment supports strategic focus on quality assurance to capitalize on strong global demand and price trends.

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Peru Unwrought Silver (HS 710691) 2025 Q1 Export: Market Concentration

Geographic Concentration and Dominant Role

In 2025 Q1, Peru's exports of Unwrought Silver under HS Code 710691 were heavily concentrated, with Switzerland as the dominant partner by value, accounting for 40.27% of total export value. The higher value ratio (40.27) compared to weight ratio (31.50) for Switzerland suggests a premium unit price, indicating higher-grade silver shipments, likely refined or investment-grade material, with an estimated unit price above average for the commodity. This disparity points to Switzerland's role as a key hub for high-value silver trading.

Partner Countries Clusters and Underlying Causes

The top partners form two clear clusters: high-value, low-frequency buyers like Switzerland, which may focus on financial or refined silver markets, and high-volume, high-frequency importers like Brazil, with a weight ratio of 37.40%, likely driven by industrial demand for raw materials. A third cluster includes countries like the United States and Canada, with moderate ratios, possibly for diverse industrial or jewelry uses, reflecting steady but smaller-scale demand.

Forward Strategy and Supply Chain Implications

For Peruvian exporters, prioritizing high-value markets like Switzerland could maximize returns, especially with silver prices rising globally, as noted in [PriceWatch](#). Supply chains should ensure consistent quality to maintain premium grades, while monitoring demand shifts in industrial hubs like Brazil. Diversifying to emerging markets may reduce reliance on top partners, leveraging the current strong price environment to secure better deals.

Table: Peru Unwrought Silver (HS 710691) Top Partner Countries (Source: yTrade)

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Peru Unwrought Silver (HS 710691) 2025 Q1 Export: Buyer Cluster

Buyer Market Concentration and Dominance

According to yTrade data, the Peru Unwrought Silver Export market in 2025 Q1 under HS Code 710691 is highly concentrated, with one segment of buyers dominating over 80% of the export value. This dominant group consists of buyers who make large, frequent purchases, showing that the market relies heavily on a few key players for most of its revenue. The four segments of buyers reveal a clear split, where high-value and high-frequency buyers drive the bulk of trade, indicating a stable but dependent export structure for this commodity.

Strategic Buyer Clusters and Trade Role

The other buyer segments play smaller but distinct roles. Buyers who make large but infrequent purchases contribute significantly to value but are rare, likely representing bulk orders for specific needs. Those with frequent but small purchases add little to overall value but are common, possibly including local distributors or smaller users. Finally, occasional small buyers have minimal impact, perhaps from niche or trial orders. For unwrought silver, a raw material, this suggests that beyond the dominant refiners or industrial users, there is limited diversity in buyer types.

Sales Strategy and Vulnerability

For exporters in Peru, the strategy should focus on nurturing relationships with the dominant high-value buyers to secure steady revenue, while cautiously exploring opportunities in the large but infrequent segment for bigger deals. The high concentration poses a risk if key buyers reduce orders, so diversifying slightly could mitigate this. With silver prices rising in 2025, as noted in market reports, the value-driven segments may offer growth potential but also increase exposure to price volatility, requiring agile sales models.

Table: Peru Unwrought Silver (HS 710691) Key Buyer Companies (Source: yTrade)

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Peru Unwrought Silver (HS 710691) 2025 Q1 Export: Action Plan for Unwrought Silver Market Expansion

Strategic Supply Chain Overview

The Peru Unwrought Silver Export 2025 Q1 under HS Code 710691 is a commodity market. Price is driven by grade purity and global silver indices. Supply chain implications focus on securing high-grade output and aligning with premium processing hubs like Switzerland. The market relies on a few bulk buyers, creating revenue stability but also vulnerability.

Action Plan: Data-Driven Steps for Unwrought Silver Market Execution

• Use HS Code sub-data (e.g., 7106912000) to target buyers in premium markets. This maximizes returns per kilogram exported.
• Prioritize relationship management with high-value, high-frequency buyers. It ensures steady order flow and reduces market risk.
• Monitor real-time silver price indices to adjust sales timing. This captures peaks in global commodity cycles.
• Diversify export destinations cautiously using trade flow analytics. It mitigates over-reliance on dominant partners like Switzerland.
• Implement grade-based quality controls for all shipments. This maintains premium pricing power and buyer trust.

Take Action Now —— Explore Peru Unwrought Silver Export Data

Frequently Asked Questions

Q1. What is driving the recent changes in Peru Unwrought Silver Export 2025 Q1?

The surge in export value (102.20 million USD) is driven by rising global silver prices and strong demand from industrial and investment sectors, with monthly volatility reflecting speculative trading and seasonal demand cycles.

Q2. Who are the main partner countries in this Peru Unwrought Silver Export 2025 Q1?

Switzerland dominates with 40.27% of export value, followed by Brazil (37.40% weight share), and the United States and Canada as moderate-scale buyers.

Q3. Why does the unit price differ across Peru Unwrought Silver Export 2025 Q1 partner countries?

Price differences stem from grade specialization: sub-code 7106911000 (1044 USD/kg) serves bulk markets, while 7106912000 (1455 USD/kg) targets premium buyers, likely due to purity or processing standards.

Q4. What should exporters in Peru focus on in the current Unwrought Silver export market?

Exporters should prioritize high-value buyers like Switzerland, ensure quality for premium grades, and cautiously explore large but infrequent orders to mitigate reliance on dominant buyers.

Q5. What does this Peru Unwrought Silver export pattern mean for buyers in partner countries?

Buyers in Switzerland benefit from high-grade silver, while industrial hubs like Brazil secure bulk supply. Price volatility requires agile procurement strategies to manage cost fluctuations.

Q6. How is Unwrought Silver typically used in this trade flow?

Unwrought silver is traded as a raw material, primarily for refining, industrial applications (e.g., electronics), and investment-grade products, with demand tied to global commodity markets.

Detailed Monthly Report

Peru HS710691 Export Snapshot 2025 JAN

Peru HS710691 Export Snapshot 2025 FEB

Peru HS710691 Export Snapshot 2025 MAR