Silver Exports by Country

1939 Dutch silver coin

1939 Dutch silver coin

Global sales from silver exports by country amounted to US$19.5 billion in 2017.

The dollar value of silver exports fell by an average -34.3% for all exporting countries since 2013 when silver shipments were valued at $29.7 billion. Year over year, globally exported silver appreciated 7.1% from 2016 to 2017.

Among continents, Asia generated the highest dollar worth from international silver sales in 2017 with shipments amounting to $8.7 billion or 44.8% of worldwide silver exports. In second place were European exporters at 26.7% compared to the 21.1% in shipments that originated from North America.

Smaller percentages came from Latin America excluding Mexico plus the Caribbean at 4.6%, followed by 2.1% for Oceania (mostly Australian and New Zealand) while 0.8% worth originated from African suppliers.

The 4-digit Harmonized Tariff System (HTS) code prefix is 7106 for unwrought or semi-manufactured silver. That HTS prefix encompasses silver plated with gold or platinum.

Silver Exports by Country


Below are the 15 countries that exported the highest dollar value worth of silver during 2017:

  1. Hong Kong: US$3.1 billion (16% of total silver exports)
  2. Mexico: $2 billion (10.2%)
  3. Germany: $1.5 billion (7.6%)
  4. China: $1.45 billion (7.4%)
  5. Japan: $1.43 billion (7.4%)
  6. South Korea: $1.37 billion (7%)
  7. Canada: $1.1 billion (5.6%)
  8. United States: $1 billion (5.4%)
  9. United Kingdom: $802.1 million (4.1%)
  10. Switzerland: $747.1 million (3.8%)
  11. Poland: $659.3 million (3.4%)
  12. Kazakhstan: $538 million (2.8%)
  13. Russia: $423.6 million (2.2%)
  14. Italy: $342 million (1.8%)
  15. Singapore: $319.5 million (1.6%)

The listed 15 countries shipped 86.1% of global silver exports in 2017 by value.

Only two of the above countries grew the value of their silver exporters since 2013, specifically China via its 30.7% gain trailed by Hong Kong’s 20.7% gain.

Those countries that posted declines in their exported silver sales were led by: United Kingdom (down -73.2%), Switzerland (down -60.8%), Canada (down -51.6%), Russia (down -43.6%) and Mexico (down -36.4%).


The following countries posted the highest positive net exports for silver during 2017. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the surplus between the value of each country’s silver exports and its import purchases for that same commodity.

  1. Hong Kong: US$2.2 billion (net export surplus up 32.9% since 2013)
  2. Mexico: $1.9 billion (down -35.8%)
  3. South Korea: $1.1 billion (down -12.8%)
  4. Germany: $644.3 million (up 101.5%)
  5. Poland: $637.4 million (down -25.6%)
  6. Kazakhstan: $537.9 million (down -16.3%)
  7. Canada: $418.8 million (down -67%)
  8. Russia: $414.7 million (down -44.4%)
  9. Switzerland: $408.5 million (up 11.2%)
  10. Sweden: $299.5 million (down -0.7%)
  11. Chile: $267.3 million (down -2.8%)
  12. Japan: $261.4 million (up 622%)
  13. Argentina: $239.7 million (up 22.4%)
  14. Peru: $212.3 million (down -68.9%)
  15. Australia: $200.6 million (up 23.9%)

Hong Kong earned the highest surplus in the international trade of silver. In turn, this positive cashflow confirms Hong Kong’s strong competitive advantage for this specific product category.


The following countries posted the highest negative net exports for silver during 2017. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the deficit between the value of each country’s silver import purchases and its exports for that same commodity.

  1. United States: -US$2.6 billion (net export deficit down -43.4% since 2013)
  2. India: -$2.4 billion (down -45.3%)
  3. United Kingdom: -$2 billion (up 5%)
  4. Taiwan: -$519.6 million (up 34.2%)
  5. Thailand: -$508.5 million (down -30.5%)
  6. France: -$238.8 million (down -9.9%)
  7. Singapore: -$157.6 million (reversing a $144.4 million surplus)
  8. Belgium: -$112.5 million (down -58.9%)
  9. Nepal: -$105 million (up 12.7%)
  10. Turkey: -$101.4 million (up 111.5%)
  11. Italy: -$93.2 million (down -17.6%)
  12. Brazil: -$77.8 million (down -43%)
  13. Israel: -$37.4 million (down -4.8%)
  14. Malaysia: -$30.8 million (down -5.3%)
  15. Vietnam: -$22.5 million (up 189.7%)

The United States incurred the highest deficit in the international trade of silver. In turn, this negative cashflow highlights America’s strong competitive disadvantage for this specific product category but also signals opportunities for silver-supplying countries that help satisfy powerful U.S. demand for the precious metal.


Silver Exporting Companies identifies global silver-producing conglomerates that represent the largest players in the worldwide silver market trade. Shown within parenthesis is the country where the company is headquartered.

  1. BHP Billiton PLC (Australia/United Kingdom)
  2. Fresnillo PLC (United Kingdom/Mexico)
  3. Glencore PLC (Switzerland)
  4. Goldcorp Inc (Canada)
  5. KGHM Polska Miedź SA (Poland)
  6. Pan American Silver PLC (Canada)
  7. Polzmetal International PLC (United Kingdom)
  8. Tahoe Resources Inc (United States)
  9. Volcan Compañía Minera SAA (Peru)

According to global trade intelligence firm Zepol, the following companies are also multinational suppliers of silver:

  • Doe Run Peru (Peru)
  • Silver Wheaton Corp. (Canada)
  • Sumitomo Corporation (Japan)


Searchable List of Silver Exporting Countries

You can change the presentation order by clicking the triangle icon at the top of any of the columns below.

RankExporter2017 Silver Exports% World Total
1.Hong KongUS$3.1 billion16%
2.Mexico$2 billion10.2%
3.Germany$1.5 billion7.6%
4.China$1.45 billion7.4%
5.Japan$1.43 billion7.4%
6.South Korea$1.37 billion7%
7.Canada$1.1 billion5.6%
8.United States$1 billion5.4%
9.United Kingdom$802.1 million4.1%
10.Switzerland$747.1 million3.8%
11.Poland$659.3 million3.4%
12.Kazakhstan$538 million2.8%
13.Russia$423.6 million2.2%
14.Italy$342 million1.8%
15.Singapore$319.5 million1.6%
16.Sweden$319.4 million1.6%
17.Australia$282 million1.4%
18.Chile$274.4 million1.4%
19.Argentina$241.9 million1.2%
20.Peru$212.7 million1.1%
21.Taiwan$189.9 million1%
22.Spain$136.3 million0.7%
23.Morocco$116.3 million0.6%
24.Indonesia$94.7 million0.5%
25.France$92.3 million0.5%
26.Bolivia$83.7 million0.4%
27.Netherlands$83.7 million0.4%
28.New Zealand$79.8 million0.4%
29.Uzbekistan$65 million0.3%
30.Dominican Republic$51.3 million0.3%
31.Turkey$46 million0.2%
32.Papua New Guinea$43.4 million0.2%
33.Austria$37.7 million0.2%
34.United Arab Emirates$35.9 million0.2%
35.Thailand$34.2 million0.2%
36.Bulgaria$27.1 million0.1%
37.Brazil$21.9 million0.1%
38.Czech Republic$21.8 million0.1%
39.South Africa$19.2 million0.1%
40.Hungary$17.4 million0.1%
41.Libya$10.7 million0.1%
42.Norway$10.3 million0.1%
43.Israel$6.5 million0.03%
44.India$6.3 million0.03%
45.Serbia$6.2 million0.03%
46.Yemen$5.7 million0.03%
47.Kyrgyzstan$5.7 million0.03%
48.Laos$5.4 million0.03%
49.Malaysia$4.3 million0.02%
50.Denmark$3.8 million0.02%
51.Luxembourg$2.6 million0.01%
52.Oman$2.5 million0.01%
53.Greece$2.4 million0.01%
54.Portugal$2.3 million0.01%
55.Colombia$2.3 million0.01%
56.Curaçao$1.6 million0.01%
57.Tajikistan$1.4 million0.01%
58.Jordan$1.3 million0.01%
59.Belgium$1.3 million0.01%
60.Vietnam$1.1 million0.01%
61.Ukraine$1.1 million0.01%
62.Lebanon$1.1 million0.01%
63.Slovenia$1 million0.01%
75.El Salvador$204,0000.001%
79.Costa Rica$108,0000.001%
80.Saudi Arabia$107,0000.001%
87.Democ. Rep. Congo$16,0000.0001%
88.Cook Islands$12,0000.0001%
89.Cayman Islands$11,0000.0001%
93.North Korea$7,0000.00004%
102.Brunei Darussalam$1,0000.00001%

See also Gold Exports by Country, Platinum Exports by Country and Palladium Exports by Country

Research Sources:
The World Factbook, Field Listing: Exports – Commodities, Central Intelligence Agency. Accessed on June 1, 2018

Trade Map, International Trade Centre. Accessed on June 1, 2018

Investopedia, Net Exports Definition. Accessed on June 1, 2018

Wikipedia, Category: Silver mining companies. Accessed on June 1, 2018, We are the world’s largest silver producer: KGHM (May 7, 2015). Accessed on November 21, 2015

Zepol’s company summary highlights by HTS code. Accessed on November 21, 2015