# HS4 2616 top trade corridors | Yugalinks

> Published by **Yugalinks**, global trade intelligence for growing businesses.
>
> [Follow Yugalinks on LinkedIn](https://in.linkedin.com/company/yugalinks)

Explore reported HS4 2616 trade corridors: leading exporter-to-importer routes, value, growth, market share, access, tariffs, and distance context.

Canonical: https://www.yugalinks.com/trade/sector/hs4/2616/corridors

## Page details

- Page type: HS4 subsector top trade corridors
- HS4: **2616 - Silver ores and concentrates**
- Parent sector: [HS2 26 overview](https://www.yugalinks.com/trade/sector/hs2/26)
- Coverage: 1995-2024
- Publisher: [Yugalinks](https://www.yugalinks.com/)

## Answer

Peru to China leads the reported HS4 2616 routes with $2.6B in 2024 and +38.2% calculated three-year growth. The HS4 subsector recorded $17.4B in latest reported trade, with +12.7% calculated three-year growth.

## Explore Yugalinks

- [Open HS4 2616 in the workspace](https://www.yugalinks.com/app?hs=2616)
- [Read the HS4 overview](https://www.yugalinks.com/trade/sector/hs4/2616)
- [Read the parent HS2 overview](https://www.yugalinks.com/trade/sector/hs2/26)
- [Review data sources](https://www.yugalinks.com/data-sources)
- [Check data coverage](https://www.yugalinks.com/data-coverage)
- [Read the methodology](https://www.yugalinks.com/methodology)
- [Read Responsible AI principles](https://www.yugalinks.com/responsible-ai)

## Summary and indicators

| Measure | Value | Interpretation |
| --- | ---: | --- |
| Latest reported HS4 trade | $17.4B | Reported value in 2024 |
| Displayed corridor value | $12.5B | Sum of the routes shown |
| HS4 3-year CAGR | +12.7% | Calculated annualized change |
| HS4 5-year CAGR | +16.9% | Calculated annualized change |
| HS4 10-year CAGR | +12.2% | Calculated annualized change |
| Latest year-on-year change | +27.6% | Calculated change from the prior year |
| Reported trend | Rapid growth | Available HS4 trend label |
| Historical peak | $17.4B in 2024 | Reported-history comparison |
| Latest below peak | 0% | Calculated peak comparison |
| Exporter / importer HHI | 1,326.2 / 5,185.7 | Calculated concentration indicators |
| Trade volatility | 1 | Calculated variation in annual values |
| Active corridors / exporters / importers / HS6 | 766 / 121 / 103 / 2 | Latest available breadth |

## Growth leaders

- **Canada -> Philippines**: +3,035% calculated three-year CAGR, $134.0M latest reported value, 0.8% market share, trend Rapid growth.
- **Indonesia -> China**: +462.9% calculated three-year CAGR, $977.4M latest reported value, 5.6% market share, trend Rapid growth.
- **Brazil -> China**: +313.3% calculated three-year CAGR, $415.5M latest reported value, 2.4% market share, trend Rapid growth.
- **Argentina -> China**: +294.8% calculated three-year CAGR, $136.7M latest reported value, 0.8% market share, trend Rapid growth.
- **Colombia -> Peru**: +167.8% calculated three-year CAGR, $170.6M latest reported value, 1% market share, trend Rapid growth.

## Access and tariff context

FTA status, tariff fields, and distance are route context. Group averages below are calculated from the displayed routes and are not tariff recommendations.

| Access group | Reported route value | Routes | Average 3-year CAGR | Average applied tariff | Average tariff advantage |
| --- | ---: | ---: | ---: | ---: | ---: |
| FTA reported | $6.4B | 12 | +60.5% | 0.1% | +0.1 pp |
| No FTA reported | $6.2B | 13 | +300.7% | 0.2% | +0 pp |

- Lowest reported applied tariff route: **Bolivia -> Belgium** at 0%.
- Largest reported tariff advantage route: **Peru -> China** at +0.3 pp.

## Full corridor table

| Rank | Exporter | Importer | Latest trade | 3-year CAGR | 5-year CAGR | 10-year CAGR | Market share | FTA / access | Applied tariff | MFN tariff | Preferential tariff | Tariff advantage | Distance | Historical peak | Latest below peak | Years | Trend |
| ---: | --- | --- | ---: | ---: | ---: | ---: | ---: | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | --- |
| 1 | Peru | China | $2.6B | +38.2% | +39.3% | +29.7% | 15% | FTA reported | 0.3% | 0.3% | 0% | +0.3 pp | 17,167 km | $2.6B (2024) | 0% | 20 | Rapid growth |
| 2 | Russia | China | $1.8B | +51.9% | +28.8% | +28.7% | 10.5% | No FTA reported | 0.2% | 0.2% | Not reported | Not reported | 6,831 km | $1.8B (2024) | 0% | 18 | Rapid growth |
| 3 | Mexico | China | $1.4B | +16.7% | +20.5% | +23.1% | 8.1% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 12,928 km | $1.4B (2024) | 0% | 20 | Rapid growth |
| 4 | Indonesia | China | $977.4M | +462.9% | +162.5% | +98.5% | 5.6% | FTA reported | 0.3% | 0.3% | 0.1% | +0.2 pp | 4,425 km | $977.4M (2024) | 0% | 20 | Rapid growth |
| 5 | South Africa | Germany | $730.1M | -19.8% | +2.3% | +8.5% | 4.2% | FTA reported | 0% | 0.1% | 0% | +0 pp | 8,837 km | $1.5B (2022) | 50.4% | 25 | Rapid decline |
| 6 | Bolivia | China | $609.9M | +44.1% | +31.6% | +23.5% | 3.5% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 18,112 km | $609.9M (2024) | 0% | 22 | Rapid growth |
| 7 | Brazil | China | $415.5M | +313.3% | +194.9% | +64.8% | 2.4% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 18,570 km | $415.5M (2024) | 0% | 11 | Rapid growth |
| 8 | South Africa | United Kingdom | $356.7M | +9.4% | +48.3% | +19.3% | 2% | FTA reported | Not reported | Not reported | Not reported | Not reported | 9,039 km | $564.3M (2022) | 36.8% | 25 | Growing |
| 9 | Kazakhstan | China | $343.5M | +15.5% | +7.1% | +77% | 2% | No FTA reported | 0.2% | 0.2% | Not reported | Not reported | 4,117 km | $343.5M (2024) | 0% | 21 | Rapid growth |
| 10 | Australia | China | $298.8M | -2.9% | +0.3% | -1.9% | 1.7% | FTA reported | 0.3% | 0.3% | 0.1% | +0.2 pp | 8,024 km | $428.2M (2023) | 30.2% | 22 | Stable |
| 11 | Canada | China | $288.8M | +11.7% | +13.3% | +36.2% | 1.7% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 11,441 km | $304.2M (2023) | 5.1% | 19 | Rapid growth |
| 12 | Australia | Philippines | $270.4M | -0.4% | +0.6% | -0.1% | 1.6% | FTA reported | 0.2% | 0.2% | 0% | +0.2 pp | 6,321 km | $316.3M (2017) | 14.5% | 15 | Stable |
| 13 | Australia | Republic of Korea | $257.2M | -16.4% | +7% | +3.4% | 1.5% | FTA reported | 0.1% | 0.1% | 0% | +0.1 pp | 8,549 km | $440.2M (2021) | 41.6% | 20 | Rapid decline |
| 14 | Ecuador | China | $253.3M | +35.7% | +3.9% | +16.7% | 1.5% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 16,091 km | $253.3M (2024) | 0% | 14 | Rapid growth |
| 15 | Turkey | China | $234.0M | +14.4% | +13.7% | +5.8% | 1.3% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 8,004 km | $234.0M (2024) | 0% | 17 | Rapid growth |
| 16 | Bulgaria | China | $226.8M | +15.3% | +42% | +11.1% | 1.3% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 8,333 km | $226.8M (2024) | 0% | 15 | Rapid growth |
| 17 | Bulgaria | Germany | $202.3M | +25% | +7.3% | +11.1% | 1.2% | FTA reported | 0% | 0% | 0% | +0 pp | 1,320 km | $202.3M (2024) | 0% | 18 | Rapid growth |
| 18 | Ecuador | Finland | $199.2M | +0.5% | +72.4% | Not reported | 1.1% | FTA reported | 0% | 0.1% | 0% | +0 pp | 11,032 km | $199.2M (2024) | 0% | 6 | Stable |
| 19 | Colombia | Peru | $170.6M | +167.8% | +107.3% | Not reported | 1% | FTA reported | 0.1% | 0.1% | 0% | +0.1 pp | 1,870 km | $170.6M (2024) | 0% | 8 | Rapid growth |
| 20 | Georgia | China | $162.3M | +65.3% | +218.2% | +334.2% | 0.9% | FTA reported | 0.2% | 0.2% | 0% | +0.2 pp | 6,741 km | $162.3M (2024) | 0% | 9 | Rapid growth |
| 21 | Bolivia | Republic of Korea | $155.6M | +12.8% | +22.6% | +11% | 0.9% | No FTA reported | 0.1% | 0.1% | 0.2% | -0 pp | 17,245 km | $251.3M (2008) | 38.1% | 25 | Rapid growth |
| 22 | Argentina | China | $136.7M | +294.8% | +127.9% | +140.8% | 0.8% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 19,629 km | $136.7M (2024) | 0% | 7 | Rapid growth |
| 23 | Canada | Philippines | $134.0M | +3,035% | +690.2% | +181.1% | 0.8% | No FTA reported | 0.2% | 0.2% | Not reported | Not reported | 13,225 km | $134.0M (2024) | 0% | 3 | Rapid growth |
| 24 | Bolivia | Belgium | $128.6M | +47.9% | +30.1% | +10.8% | 0.7% | No FTA reported | 0% | 0.1% | 0% | +0.1 pp | 10,238 km | $128.6M (2024) | 0% | 26 | Rapid growth |
| 25 | Kyrgyzstan | Kazakhstan | $123.7M | -3.8% | +1.9% | +12.9% | 0.7% | FTA reported | 0.1% | 0.1% | 0% | +0.1 pp | 194 km | $156.7M (2023) | 21.1% | 19 | Declining |

## Definitions

Latest trade values are reported merchandise trade observations. CAGR, market share, HHI, volatility, and peak comparisons are calculated indicators over the available history. FTA, tariffs, and distance provide route context where available. Missing values remain unavailable and are not imputed or presented as forecasts.

## Data sources

- Primary trade series: OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-08-28). [OECD Data Explorer](https://data-explorer.oecd.org/) - [OECD Terms & Conditions](https://www.oecd.org/termsandconditions/)
- CEPII BACI bilateral trade flows (202601): [dataset page](https://www.cepii.fr/CEPII/en/bdd_modele/bdd_modele_item.asp?id=37) - [BACI documentation](https://www.cepii.fr/DATA_DOWNLOAD/baci/doc/baci_webpage.html) - [Etalab 2.0 Open Licence](https://www.etalab.gouv.fr/wp-content/uploads/2018/11/open-licence.pdf)

This page presents derived Yugalinks views of reported observations and calculated indicators.

## Continue your research

- [Open the HS4 workspace](https://www.yugalinks.com/app?hs=2616)
- [Read the HS4 overview](https://www.yugalinks.com/trade/sector/hs4/2616)
- [Read the HS2 overview](https://www.yugalinks.com/trade/sector/hs2/26)
- [Review data sources](https://www.yugalinks.com/data-sources)
- [Check data coverage](https://www.yugalinks.com/data-coverage)
- [Read methodology](https://www.yugalinks.com/methodology)
- [Read Responsible AI principles](https://www.yugalinks.com/responsible-ai)