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Saturday, June 13, 2026

Silver producing countries

 Countries with Silver production around the world  

Silver is a chemical element with the symbol Ag and atomic number 47. It has the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. Silver is a relatively soft, white, shiny metal which can be found in Earth’s crust in its pure elemental form, as an alloy with gold and other metals, and in minerals like argentite. It is mostly extracted from lead-zinc, copper, gold and copper-nickel ores and a by-product of mining for these metals. Mexico produces the most silver in the world, mining 173 million ounces, or about 20% of global supply. Mexico produces one-fifth of global supply. This scale gives the country an outsized role in a market already facing a fifth straight annual deficit. Peru and China are the key runners up, and their combined scale highlights how supply depends on a small group of major mining countries.

Silver is a precious metal and has several uses. Sterling silver, which is 92.5% silver, is used for jewelry and silver tableware. Thanks to its reflectivity, silver is also used to make mirrors. The metal also has uses in photography and x-ray films, as silver bromide and iodide have a high sensitivity to light. Silver salts are still used in digital photography to produce high-quality images. Other uses include solar panels, water filtration, ornaments, electrical contacts and conductors, and as a colorant in stained glass. For investors, silver offers exposure to both industrial growth and precious-metal demand. In addition, production concentration can support prices when supply disruptions hit major mining regions. The Silver Institute contributes to the United Nations’ Sustainable Development Goals by responsibly producing silver, which can be used in renewable energy and electric vehicles. The metal also has anti-bacterial properties which can be used in water treatment, medical applications and textiles.

Global production spans every major region, yet output remains clustered in a few mining economies. This puts major producers in focus for investors tracking opportunities and supply risks. At the same time, markets have tightened as demand has outpaced supply. For the fifth straight year, global supply has run a deficit. Existing producers are under pressure while new sources of supply may present opportunities for early investment. Silver is also used in currency many bullion coins, sometimes with gold. It has also been regarded as a store of value for more than 4,000 years. The silver standard is a monetary system in which the national currency is backed by physical silver. The silver standard allows units of the national currency to be converted into units of silver at a fixed exchange rate. The purpose of the silver standard is to ensure a national currency’s purchasing power is maintained. The silver standard has been abandoned by all countries that used it, ending with China and Hong Kong who rid of the system in 1935. All countries switched to the gold standard, which was later abandoned by most countries later in the 20th century.

In 2025, Mexico mined 173 million ounces, or about 20% of global output, making it the world’s top producer. Following are the country wise details:-

Country                               Region                                    Million ounces

Mexico                                  North America                                           173

Peru                                   South America                                           131

China                                        Asia                                                           113

Russia                                       Europe                                                   56

Bolivia                                  South America                                           50

Chile                                  South America                                           43

Poland                                       Europe                                                   43

United States                          North America                                           36

Australia                                      Oceania                                                   33

Argentina                                 South America                                                  22

India                                       Asia                                                          20

Kazakhstan                               Asia                                                           17

Sweden                                       Europe                                                   14

Morocco                                       Africa                                                          12

Uzbekistan                               Asia                                                           11

Canada                                   North America                                           10

Indonesia                                Asia                                                            9

Iran                                             Middle East                                                    4

Spain                                        Europe                                                    4

Papua New Guinea                         Asia                                                            4

Others                                               -                                                            45

Global Total                                   -                                                           847

Source: The Silver Institute: World Silver Survey 2026

Peru ranked second with 131 million ounces, followed by China with 113 million ounces. Taken together, North and South America lead the world with 219 and 246 million ounces, respectively. The estimated global silver production in 2019 was about 27,000 metric tons. According to the Silver Institute, the global mine production fell for the fourth year in a row in 2019 by 1.3% and primary silver production declined by 3.8%. The largest declines were in Peru, followed by Mexico and Indonesia. Some countries, however, saw increases in production, such as Argentina, Australia and the US. Year wise production of different countries is given below:-

Country                   2024                 2023                 2022                    2021

United States                 1.1K                       1K                       1K                         1K

Sweden                          400                      404

Russia                         1.2K                     1.2K                      1.3K                       1.3K

Poland                         1.3K                     1.3K                     1.3K                        1.3K

Peru                          3.1K              3.2K                     3.1K                        3.3K

Mexico                         6.3K                     6.3K                     6.2K                        6.1K

Kazakhstan                  1K                      985                    1.1K

India                          800                      813                     694                        610

China                         3.3K                     3.4K                     3.5K                       3.5K

Chile                         1.2K                     1.3K                     1.3K                       1.3K

Canada                          300                     306

Bolivia                         1.3K                     1.4K                     1.2K                       1.3K

Australia                          1K                      1K                    1.2K                      1.4K

Argentina                           800              808                     913                        720

Total                         23.1K        23.4K          22.7K               21.8K

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Silver producing countries

  Countries with Silver production around the world    Silver is a chemical element with the symbol Ag and atomic number 47. It has the high...