List of Top 10 Countries That Produce Silver, Including China

TEMPO.CO, Jakarta - The price of silver has surged in recent times, largely driven by consistently strong demand from the technology sector. According to various sources, the precious metal is widely used in the production of goods such as electric vehicles (EVs) and solar panels.

With market conditions unfolding this way, understanding the countries that produce silver the most becomes increasingly important. In this landscape, long-standing giants such as Mexico, China, and Peru remain firmly at the top of the list.

Here are 10 countries that produce silver the most, according to Visual Capitalist.

List of 10 Countries That Produce Silver the Most

1. Mexico - 6,300 metric tons

Despite holding only 6% of the world’s known reserves, Mexico sits at the top of countries that produce silver. Its 2024 output, estimated at approximately 6,300 metric tons, was driven by the country’s extensive mining infrastructure and rich, high-grade deposits. With a silver-mining history dating back to the 1500s, the industry has long served as a backbone of Mexico’s economy.

2. China - 3,300 metric tons

Securing second place, China recorded an estimated silver production of around 3,300 metric tons in 2024. This figure marked a decline of roughly 100 metric tons from the previous year, which the Shanghai Metal Market attributed to the depletion of silver reserves in older mines. Much of China’s silver output is produced as a byproduct of its large-scale base metal mining operations.

3. Peru - 3,100 metric tons

Long synonymous with silver mining in South America, Peru continues to prove its dominance in the industry. In 2024, the country produced an estimated 3,100 metric tons of silver, almost double the output of Bolivia, which ranks below it. Notably, Visual Capitalist highlighted Peru’s significance in holding approximately 22% of the world’s known silver reserves, estimated at around 140,000 metric tons.

4. Bolivia - 1,300 metric tons

With an estimated output of 1,300 metric tons, Bolivia appears to be one of the countries that produces the most. Although production declined from approximately 1,350 metric tons the previous year, its position on the list reaffirms South America’s importance in global silver markets. According to Investing News, silver exports contribute substantially to Bolivia’s economy, generating $1.2 billion in 2024.

5. Poland - 1,300 metric tons

Poland joined Bolivia in producing 1,300 metric tons of silver in 2024. Of note, Poland has the world's fifth-largest silver reserves at 61,000 tons, representing about 9.5% of the global total.

6. Chile - 1,200 metric tons

Mining plays an important role in Chile's economy, and silver has long been one of its main commodities. However, a significant decline has been seen due to production problems and low prices in the copper sector. 

7. Russia - 1,200 metric tons

It comes as no surprise to see Russia among the countries that produce silver the most. Not only does it boast the third-largest silver reserves in the world, with an estimated 92,000 metric tons, the big nation produced an astonishing 1,200 metric tons in 2024. As a matter of fact, Russia is also one of the world’s top countries with largest oil reserves.

8. United States - 1,100 metric tons

In 2024, the United States produced 1,100 metric tons of silver. Mining activity is spread across 12 states, with Alaska and Idaho among the leading producers.

9. Australia - 1,000 metric tons

Australia ranks just ahead of Peru in terms of silver reserves, holding approximately 94,000 metric tons, or 14.7% of the world’s total. With mining contributing an estimated 9.9% to the nation’s GDP, according to the Reserve Bank of Australia, much of the country’s silver output is directed toward domestic manufacturing and investment.

10. Kazakhstan - 1,000 metric tons

Kazakhstan rounds out the top 10 silver-producing countries, with an output of around 1,000 metric tons. This figure marks a slight increase from 2023 and continues a steady upward trend seen in recent years. For context, the country produced just 435 metric tons of silver in 2020.

These countries form the cornerstone of the global silver supply, ensuring the precious metal remains available to meet rising demand from various sectors. As silver continues to play a vital role in modern industries, shifts in production among these leading nations will also be closely watched. For further insight, let’s take a look at the world’s largest nickel-producing countries.

Read: Top 10 Countries with Largest Oil Reserves: Venezuela, Saudi Arabia, and More 

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