Which Countries Produce The Most Silver?

Silver is an essential metal for the electronics industry, which is helping fuel an expected rise in global demand over the coming years.

As mining of this crucial metal ramps up to meet demand, a select nation continues to dominate global silver output.

This map, created by Visual Capitalist’s Ryan Bellefontaine in partnership with Vizsla Silver Corp., uses the latest data from Metals Focus in the Silver Institute’s World Silver Survey to show the countries producing the most silver.

Mexico Leads Again

Here are the top silver-producing countries in the world as of 2023:

Mexico retains its position as the world’s leading silver producer, mining 202.2 million ounces (Moz)—accounting for nearly a quarter of the world’s total supply. The country’s deep-rooted silver mining history, rich reserves, and active mining sector keep it at the forefront of global production.

China followed as the second-largest silver producer with 109.3 Moz. In third place, Peru is closely behind at 107.1 Moz. 

After Peru, South America is home to some of the world’s other most significant silver producers, such as Chile with 52.0 Moz and Bolivia with 42.6 Moz, which round out the top five.

A Historic Industry with a Bright Future

Mexico’s dominance in silver mining dates back centuries, with its reserves continuously tapped to meet growing global demand.

Today, projects like Vizsla Silver Corp’s Panuco project in northwest Mexico demonstrate the country’s vast potential. Panuco alone contains an estimated 201.4 million ounces of silver.

As the world looks toward a future of increased industrial and investment demand for silver, Mexico remains the undisputed leader in production, reinforcing its role as a cornerstone of the global silver supply chain.

Discover how Vizsla Silver Corp. promotes responsible mining practices to support the rising global demand for silver while building a sustainable future.