In 2023, Mexico led global silver exports with $1.89 billion, followed by South Korea and Canada with $1.67 billion and $1.64 billion respectively. Hong Kong and Japan also featured prominently, with exports surpassing $1.4 billion each. Germany, the United States, China, and Switzerland followed, with the UK's exports at $0.728 billion. These figures represent actual 2023 data with projections available for 2024. Year-on-year trends show a robust silver trade landscape with consistent demand across markets. Over the past five years, the compound annual growth rate (CAGR) reflects steady growth, influenced by technological advancements in countries like Mexico and Korea.
Looking ahead, trends to watch include increased silver demand driven by technological innovations in electronics and renewable energy sectors. Potential shifts in global trade policies and mining regulations could impact these leading exporters. Additionally, fluctuations in global economic conditions might alter silver demand, affecting these countries' export capabilities.
Top countries in Top Exporters of Silver
| # | 10 Countries | Million US Dollars | Last Year | |
|---|---|---|---|---|
| 1 | 1 Mexico | 1,890 | 2016 | |
| 2 | 2 South Korea | 1,670 | 2016 | |
| 3 | 3 Canada | 1,640 | 2016 | |
| 4 | 4 Hong Kong | 1,520 | 2016 | |
| 5 | 5 Japan | 1,440 | 2016 | |
| 6 | 6 Germany | 1,350 | 2016 | |
| 7 | 7 United States | 1,300 | 2016 | |
| 8 | 8 China | 1,100 | 2016 | |
| 9 | 9 Switzerland | 828.89 | 2016 | |
| 10 | 10 United Kingdom | 727.88 | 2016 |
