The dollar value for globally exported silver increased by an average 53% from five years earlier in 2021 when overall silver shipments were valued at $36.9 billion.
Year over year, globally exported silver spiked by 64.1% compared to $34.4 billion during 2024.
The 5 top silver exporters are the United Kingdom, United States of America, Hong Kong, mainland China and Mexico. Combined, that quintet of major silver exporters generated approaching three-fifths (57.7%) of international silver sales during 2025.
From the continental perspective, suppliers located in Europe sold the highest dollar worth of silver on world markets in 2025 with shipments amounting to $21.1 billion or 37.3% of globally exported silver. In second place were exporters in Asia at 34.7% compared to another 24.3% worth of silver shipments that originated from North America.
Smaller percentages came from providers in Latin America (1.6%) excluding Mexico but including the Caribbean, trailed by Oceania (1.5%) led by Australia, Papua New Guinea and New Zealand, then Africa (0.7%).
For research purposes, the 4-digit Harmonized Tariff System (HTS) code prefix is 7106 for unwrought or semi-manufactured silver. That HTS prefix code 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 2025.
- United Kingdom: US$8.2 billion (14.5% of total silver exports)
- United States: $8.1 billion (14.4%)
- Hong Kong: $6.5 billion (11.4%)
- mainland China: $6 billion (10.6%)
- Mexico: $3.8 billion (6.8%)
- Switzerland: $3.6 billion (6.4%)
- Germany: $3.4 billion (6.1%)
- South Korea: $2.6 billion (4.6%)
- Poland: $1.75 billion (3.1%)
- Canada: $1.75 billion (3.1%)
- Japan: $1.33 billion (2.4%)
- Italy: $1.24 billion (2.2%)
- Belgium: $880.8 million (1.6%)
- United Arab Emirates: $801.3 million (1.4%)
- Australia: $753.3 million (1.3%)
By value, the listed 15 countries shipped 89.9% of silver exported worldwide in 2025.
Among the top exporters, the fastest-growing silver exporters since 2024 were: the United States of America (up 501%), United Kingdom (up 125.9%), Italy (up 116.5%) and Switzerland (up 87.8%).
Those countries that posted year-over-year declines in their exported silver sales were the United Arab Emirates (down -43.9%) and Japan (down -11.4%).
Searchable List of Silver Exporting Countries in 2025
By dollar value, the following 100 countries sold 99.99996% of globally exported silver in 2025.
| Rank | Exporter | Silver Exports | 2024-5 |
|---|---|---|---|
| 1 | United Kingdom | $8,192,950,000 | +125.9% |
| 2 | United States | $8,104,992,000 | +501% |
| 3 | Hong Kong | $6,454,369,000 | +46% |
| 4 | mainland China | $5,997,422,000 | +57.8% |
| 5 | Mexico | $3,847,196,000 | +48.3% |
| 6 | Switzerland | $3,628,281,000 | +87.8% |
| 7 | Germany | $3,426,844,000 | +49.6% |
| 8 | South Korea | $2,575,938,000 | +30.9% |
| 9 | Poland | $1,754,461,000 | +38.2% |
| 10 | Canada | $1,746,859,000 | +21% |
| 11 | Japan | $1,327,462,000 | -11.4% |
| 12 | Italy | $1,244,948,000 | +116.5% |
| 13 | Belgium | $880,829,000 | +77.8% |
| 14 | United Arab Emirates | $801,262,000 | -43.9% |
| 15 | Australia | $753,303,000 | +78.8% |
| 16 | Kazakhstan | $741,772,000 | +19.1% |
| 17 | Russia | $415,811,000 | -21.7% |
| 18 | Singapore | $415,454,000 | +330.1% |
| 19 | Spain | $397,663,000 | +58.9% |
| 20 | Peru | $358,780,000 | +1.9% |
| 21 | Morocco | $321,060,000 | +176.4% |
| 22 | Türkiye | $307,945,000 | +112.3% |
| 23 | Sweden | $300,038,000 | +18.2% |
| 24 | Uzbekistan | $259,078,000 | +59.4% |
| 25 | Chile | $256,742,000 | +3.4% |
| 26 | France | $256,241,000 | +53.6% |
| 27 | Indonesia | $192,765,000 | +84.8% |
| 28 | Bolivia | $182,418,000 | +41.7% |
| 29 | Austria | $165,167,000 | +71.2% |
| 30 | Thailand | $147,929,000 | +447.3% |
| 31 | Taiwan | $109,425,000 | -67.3% |
| 32 | Armenia | $96,302,000 | -82.6% |
| 33 | India | $88,318,000 | -79.2% |
| 34 | Netherlands | $81,596,000 | +35.8% |
| 35 | Papua New Guinea | $80,637,000 | -11.3% |
| 36 | Czech Republic | $80,154,000 | +47.6% |
| 37 | Argentina | $55,821,000 | -31% |
| 38 | Bulgaria | $52,332,000 | -10.4% |
| 39 | Serbia | $44,395,000 | +46.2% |
| 40 | South Africa | $42,284,000 | +28.7% |
| 41 | Nicaragua | $35,728,000 | +0.9% |
| 42 | Hungary | $28,746,000 | -3.2% |
| 43 | Portugal | $19,331,000 | +32.4% |
| 44 | Colombia | $18,543,000 | +22.1% |
| 45 | Romania | $16,528,000 | +49.2% |
| 46 | Norway | $14,008,000 | -3.2% |
| 47 | Brazil | $11,953,000 | +163.3% |
| 48 | Estonia | $10,725,000 | -0.4% |
| 49 | Egypt | $9,101,000 | +310% |
| 50 | Malaysia | $9,084,000 | +45.5% |
| 51 | Tajikistan | $7,428,000 | +19.4% |
| 52 | Ukraine | $7,071,000 | 0% |
| 53 | Slovakia | $6,720,000 | -6.8% |
| 54 | Kyrgyzstan | $6,568,000 | -66.8% |
| 55 | Burkina Faso | $6,225,000 | +7.8% |
| 56 | Denmark | $6,148,000 | +48.1% |
| 57 | Greece | $6,140,000 | +64.4% |
| 58 | Saudi Arabia | $6,121,000 | -26.1% |
| 59 | Slovenia | $5,241,000 | +77.8% |
| 60 | Lebanon | $4,749,000 | +991.7% |
| 61 | Israel | $4,502,000 | -14.7% |
| 62 | Laos | $4,310,000 | +106.8% |
| 63 | Mongolia | $4,205,000 | +37.3% |
| 64 | Finland | $3,851,000 | +58.7% |
| 65 | Uganda | $3,694,000 | +131.7% |
| 66 | New Zealand | $3,060,000 | -47.3% |
| 67 | Philippines | $2,808,000 | +47.6% |
| 68 | Azerbaijan | $2,683,000 | +65% |
| 69 | Jordan | $2,321,000 | +117.1% |
| 70 | Algeria | $1,752,000 | 0% |
| 71 | Senegal | $1,176,000 | +156.2% |
| 72 | Tanzania | $1,125,000 | +54.1% |
| 73 | Rwanda | $1,022,000 | 0% |
| 74 | Cyprus | $967,000 | +146.1% |
| 75 | Lithuania | $809,000 | +14.8% |
| 76 | Vietnam | $706,000 | -21.6% |
| 77 | Ecuador | $627,000 | -70.1% |
| 78 | Dominican Republic | $587,000 | -11.5% |
| 79 | Croatia | $568,000 | -29.6% |
| 80 | Malta | $544,000 | +2167% |
| 81 | Bahrain | $507,000 | +25250% |
| 82 | Fiji | $415,000 | -11.1% |
| 83 | US Minor Outlying Islands | $270,000 | +6650% |
| 84 | Luxembourg | $256,000 | -40.3% |
| 85 | Mali | $246,000 | 0% |
| 86 | Oman | $240,000 | +11900% |
| 87 | Panama | $233,000 | 0% |
| 88 | Albania | $87,000 | 0% |
| 89 | Ireland | $81,000 | -86.5% |
| 90 | Cameroon | $68,000 | 0% |
| 91 | Latvia | $62,000 | 0% |
| 92 | Curaçao | $58,000 | 0% |
| 93 | Costa Rica | $57,000 | +83.9% |
| 94 | Sri Lanka | $32,000 | 0% |
| 95 | Iran | $32,000 | 0% |
| 96 | Mauritius | $28,000 | +833.3% |
| 97 | El Salvador | $19,000 | +11.8% |
| 98 | Antigua/Barbuda | $19,000 | 0% |
| 99 | Bosnia/Herzegovina | $18,000 | +20% |
| 100 | Niue | $14,000 | +180% |
Expanding the scope of our analysis to the top 100 silver exporters, the fastest gainers were Bahrain (up 25,250% from 2024), Oman (up 11,900%), United States Minor Outlying Islands (up 6,650%), Malta (up 2,167%) then Lebanon (up 991.7%).
You can change the presentation order by clicking the triangle icon at the top of any of the columns. An entry of 0% in the right-most column means that 2024 data was unavailable.
Countries Earning Highest Trade Surpluses from Silver
The following countries posted the highest positive net exports for silver during 2025. 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.
- mainland China: US$5.2 billion (net export surplus up 125.1% since 2024)
- Mexico: $3.7 billion (up 49.8%)
- South Korea: $2.2 billion (up 25.6%)
- Switzerland: $2 billion (up 129.8%)
- Poland: $1.69 billion (up 37.5%)
- Germany: $1.69 billion (up 31.1%)
- Kazakhstan: $740.4 million (up 19.2%)
- Belgium: $642.9 million (up 84.8%)
- Russia: $389.2 million (up 14.3%)
- Peru: $357.6 million (up 2.1%)
- Morocco: $317.6 million (up 179%)
- Canada: $299.8 million (up 69.1%)
- Chile: $251 million (up 2.5%)
- Australia: $246.8 million (up 151.1%)
- Spain: $241.6 million (up 51.2%)
China and Mexico earned the highest surpluses in the international trade of silver. In turn, these positive cashflows confirm both countries’ strong competitive advantages for this specific product category.
Countries Posting Worst Trade Deficits from Silver
The following countries posted the highest negative net exports for silver during 2025. 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.
- India: -US$9.2 billion (net export deficit up 53.5% since 2024)
- United Kingdom: -$3.3 billion (up 351.6%)
- Thailand: -$1.2 billion (up 81%)
- Türkiye: -$948.4 million (up 192.6%)
- France: -$511.7 million (up 25.6%)
- Taiwan: -$428.4 million (up 57%)
- Vietnam: -$424.3 million (up 1146.8%)
- Hong Kong: -$409 million (reversing a $340.4 million surplus)
- United Arab Emirates: -$365.8 million (reversing a $174.6 million surplus)
- United States: -$346.7 million (down -90.7%)
- Singapore: -$231.7 million (up 274.8%)
- Lebanon: -$186.5 million (up 426.8%)
- Saudi Arabia: -$126.1 million (up 619.5%)
- Brazil: -$103.5 million (up 13.3%)
- Malaysia: -$99.4 million (up 1%)
India incurred the highest deficit in the international trade of silver. In turn, this negative cashflow highlights India’s strong competitive disadvantage for this specific product category but also signals opportunities for silver-supplying countries that help satisfy powerful US demand for the precious metal.
Silver Exporting Companies
MINING.com 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.
- BHP Billiton PLC (Australia/United Kingdom)
- Fresnillo PLC (United Kingdom/Mexico)
- Glencore PLC (Switzerland)
- Goldcorp Inc (Canada)
- KGHM Polska Miedź SA (Poland)
- Pan American Silver PLC (Canada)
- Polzmetal International PLC (United Kingdom)
- Tahoe Resources Inc (United States)
- 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)
See also Gold Exports by Country, Platinum Exports by Country, Hong Kong’s Top 10 Exports, and Most Valuable Global Markets for Selling Silver Imports
Research Sources:
Central Intelligence Agency, The World Factbook Field Listing: Exports – Commodities. Accessed on July 14, 2026
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on July 14, 2026
International Trade Centre, Trade Map. Accessed on July 14, 2026
Investopedia, Net Exports Definition. Accessed on July 14, 2026
MINING.com, We are the world’s largest silver producer: KGHM. Accessed on July 14, 2026
Wikipedia, Category: Silver mining companies. Accessed on July 14, 2026
Zepol’s company summary highlights by HTS code. Accessed on July 14, 2026