Ranked: Largest Producers of Silver

Jul 11
1 min read

Silver is one of the world’s most valuable metals, which has gained significant momentum the past year.

What’s been the key driver? Industrial demand in solar, EVs, electronics, semiconductors. All the industries of the future. Additionally, supply-demand imbalances and its relative appeal versus gold has played a key role in boosting prices.

Title written as “Largest Producers of Silver”. An exclusive researched graph showing the production of silver across different countries in the world with the world map in the background. Countries are listed from highest to lowest to visually show the difference along with country flag, name and production quantity per ounce. Listed countries include - USA, China, India, Russia, Mexico, Canada, Indonesia, Australia, Sweden, Peru, Bolivia, Chile, Poland, Argentina and Sweden.

If you notice the top producers in the list, the production is driven by developing countries such as Mexico, Peru, Bolivia and Chile.

Within the top 10, Australia, Bolivia and USA witnessed the highest year-on-year growth at 19%, 11% and 10%, respectively. Whereas Chile saw the highest decline of 17%, primarily due to operational, weather, ore-grade and ramp-up delays.

While silver previously touched its highest price of $49.45 per ounce in 1980s, are you still bullish on it?

Here are the detailed rankings of the largest producers of silver, sourced from The Silver Institute.

Ranking	Country	2023 Production (Million ounces)	2024 Production (Million ounces)
1	Mexico	181.9	185.7
2	China	111.6	110.1
3	Peru	108.9	108
4	Bolivia	43.2	47.8
5	Chile	52	43.2
6	Poland	43.5	42.5
7	Russia	38.8	41
8	Australia	32.7	38.8
9	USA	33.1	36.2
10	Argentina	26	24.9
11	India	23.8	22.5
12	Kazakhstan	16.4	16.1
13	Sweden	12.6	11.6
14	Indonesia	10.9	11.5
15	Canada	7.1	9.5