Key Takeaways
- Mexico leads global silver production despite holding just 6% of the world’s known reserves.
- The Silver Institute projected that the silver market would end in a deficit for the fifth consecutive year in 2025, with the cumulative deficit reaching almost 820 million ounces.
Silver prices surged more than 5% in recent trading, breaking above $80 per ounce once again.
The rally has been driven by China’s restrictions on silver exports, rising demand from green technologies like solar power, and renewed interest in safe-haven assets.
This visualization highlights the world’s largest silver-producing countries and shows where global supply is most concentrated.
The data for this visualization comes from the U.S. Geological Survey’s Mineral Commodity Summaries 2025. It presents estimated silver mine production by country for 2024.
| Rank | Country | 2024 Production (Metric Tons) |
|---|---|---|
| 1 | 🇲🇽 Mexico | 6,300 |
| 2 | 🇨🇳 China | 3,300 |
| 3 | 🇵🇪 Peru | 3,100 |
| 4 | 🇧🇴 Bolivia | 1,300 |
| 5 | 🇵🇱 Poland | 1,300 |
| 6 | 🇨🇱 Chile | 1,200 |
| 7 | 🇷🇺 Russia | 1,200 |
| 8 | 🇺🇸 United States | 1,100 |
| 9 | 🇦🇺 Australia | 1,000 |
| 10 | 🇰🇿 Kazakhstan | 1,000 |
| 11 | 🇦🇷 Argentina | 800 |
| 12 | 🇮🇳 India | 800 |
| 13 | 🇸🇪 Sweden | 400 |
| 14 | 🇨🇦 Canada | 300 |
| — | 🌐 Other countries | 2,100 |
| — | 🌍 World total (rounded) | 25,000 |
Read more: Visual Capitalist