Mining
Which countries produce the world’s silver?
![Which countries produce the world’s silver? Which countries produce the world’s silver?](https://www.mining.com/wp-content/uploads/2023/04/AdobeStock_554549299-scaled-1-1024x685.jpeg)
Silver mine output has been declining for nearly a decade. Mine production peaked at 900.1 million ounces in 2016. Meanwhile, demand has outstripped supply for three straight years and the Silver Institute projects another market deficit in 2024. This is primarily due to rapidly rising industrial demand, specifically in the solar energy sector.
Only 20 to 30 percent of the world’s silver comes from primary silver mines. Approximately 70–80 percent of silver mined globally is produced as a byproduct of mining other metals, such as copper, lead and zinc.
Here are the top 20 silver-producing countries based on 2023 data from the Silver Institute:
- Mexico – 202.2 million ounces
- China – 109.3 million ounces
- Peru – 107.1 million ounces
- Chile – 52 million ounces
- Bolivia – 42.6 million ounces
- Poland – 42.5 million ounces
- Russia – 39.8 million ounces
- Australia – 34.4 million ounces
- United States – 32 million ounces
- Argentina – 26 million ounces
- India – 23.8 million ounces
- Kazakhstan – 16.6 million ounces
- Sweden – 12.6 million ounces
- Indonesia – 10.3 million ounces
- Morocco – 8.8 million ounces
- Uzbekistan – 7.7 million ounces
- Canada – 7.1 million ounces
- Papua New Guinea – 4.3 million ounces
- Spain – 3.7 million ounces
- Brazil – 3.3 million ounces