It is a chemical element at the 47th no of the periodic table with atomic no 47. Due to its lustrous shiny surface, it has a glorious effect on the surroundings because of which it is mostly preferred in jewelry making. Silver was first discovered and used as jewelry in Turkey around 3000 BC; Further many civilizations induced this metal in their costly treasure like the Greek Civilization, the Romanians, and the Egyptians. Far beyond its large contribution to the jewelry sector, it is also used for the manufacturing of industrial applications such as electronic components and medical devices.

The global demand for this luxurious good has attained a significant hike in the past few decades due to its multipurpose properties. Many countries have been evolving their mining industries for more production of silver to emerge as a top global trader in the market. The Silver Customs Data shows that the total production rate of silver in the year 2023 is recorded as 33000 metric tons worth 35 billion US dollars, with a growth rate of 22% in the past decades.

Top 10 Global Importers of Silver in 2023

The import value of a particular product gives a detailed overview of its production and consumption rate. As per the Silver Global Trade Data, the demand for this luxurious good has recorded a significant hike in its import rate in the past years with a growth rate of 4% in 2023 worth 21.5 billion US dollars.

• China – Import Trade Value of Silver in 2023 – 5.9 billion
• India– Import Trade Value of Silver in 2023 – 4.7billion
• United States– Import Trade Value of Silver in 2023 – 2.8 billion
• Germany– Import Trade Value of Silver in 2023 – 1.5 billion
• Japan– Import Trade Value of Silver in 2023 – 1 billion
• United Kingdom– Import Trade Value of Silver in 2023 – 900 million
• Italy– Import Trade Value of Silver in 2023 – 800 million
• Russia– Import Trade Value of Silver in 2023 – 700 million
• South Korea– Import Trade Value of Silver in 2023 – 600 million
• Switzerland– Import Trade Value of Silver in 2023 – 500 million

Top 10 Global Leading Silver Producers

Different industries have been increasing their production rate of silver for a sustainable balance in the economic trade. The globally increased demand for the metal led to a higher amount of production, the Silver Export Import Data showcases the below-mentioned companies as the top 10 producers of silver,

• Fresnillo PLC – Headquartered in Mexico, total production of 2023 – 70 million ounces worth 1 billion US dollars.

• Pan American Silver Corp - Headquartered in Canada, total production of 2023 – 26 million ounces worth 500 million US dollars.

• Glencore PLC - Headquartered in Switzerland, total production of 2023 – 20 million ounces worth 350 million US dollars.

• Hochschild Mining PLC - Headquartered in the United Kingdom, total production of 2023 – 17 million ounces worth 300 million US dollars.

• BHP Group - Headquartered in Australia, total production of 2023 – 15 million ounces worth 250 million US dollars.

• Hecla Mining Company - Headquartered in Idaho, total production of 2023 – 12 million ounces worth 200 million US dollars.

• Endeavour Silver Corp - Headquartered in Canada, total production of 2023 – 10 million ounces worth 175 million US dollars.

• Polymetal International PLC - Headquartered in Russia, total production of 2023 – 7 million ounces worth 140 million US dollars.

• Coeur Mining Inc - Headquartered in the United States, total production of 2023 – 5 million ounces worth 100 million US dollars.

• Sierra Metals Inc. - Headquartered in Canada, total production of 2023 – 4 million ounces worth 85 million US dollars.

Top 10 Global Exporters of Silver in 2023

Different countries across the globe export silver to a greater extent to cater to economic growth. As the demand for this precious good is increasing, the production rates are also increasing rapidly to maintain a balance. The Silver Export Data shows that the total export value of silver in 2023 has increased at a rate of 5% worth 25 billion US dollars and enlists the below-mentioned countries as the global top exporters of silver in 2023,

• Mexico – Export Trade Value of Silver in 2023 – 5 billion US dollars

• China – Export Trade Value of Silver in 2023 – 4 billion US dollars

• Peru – Export Trade Value of Silver in 2023 – 2 billion US dollars

• Chile – Export Trade Value of Silver in 2023 – 1 billion US dollars

• Poland – Export Trade Value of Silver in 2023 – 800 million US dollars

• Russia – Export Trade Value of Silver in 2023 – 700 million US dollars

• Australia – Export Trade Value of Silver in 2023 – 600 million US dollars

• Bolivia – Export Trade Value of Silver in 2023 – 500 million US dollars

• Argentina – Export Trade Value of Silver in 2023 – 400 million US dollars

• Kazakhstan – Export Trade Value of Silver in 2023 – 300 million US dollars

FAQ’s

Que. What is the total global production of silver in 2023?
Ans. The total global production of silver in 2023 is 33000 metric tons.

Que. What is the total import trade value of silver in 2023?
Ans. The total import trade value of silver in 2023 is 21.5 billion US dollars.

Que. Name the top global producer of silver in 2023.
Ans. Fresnillo PLC is the top global producer of silver in 2023.

Que. Where can you get the trade statistics of silver global trade in 2023?
Ans. At Import Globals, you can get the global trade statistics of silver 2023.

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