This statistic shows the countries and regions that consumed the most silver in 2010. The United States demanded 21.6 percent of the world's total silver production.
Consumption of silver
Silver is one of the world’s most valued metals and included within the so called transition metals group. Within living memory, this precious metal always has been used for coins, jewellery and valuable utensils, known as silverware.
In modern times, it also developed an important role in industrial usage. Almost half of all silver worldwide is used for such purposes. This is primarily due to its extremely high electric and thermal conductivity. In fact, silver has the highest conductivity of electricity and heat of all elements and metals, respectively. Thus, industrial silver usage is mostly for conductors and catalyses. Another sector which is highly dependent on silver is the photographic industry. Silver is also an important factor within the finance and investment sector. Among countries around the world, the United States is the top consumer of silver.
Silver consumption by country
The United States consumes around one fifth of global silver. China, Japan and India are following, while Germany and Italy are the top consumers from Europe. The latest estimates show that the United States uses between six and eight thousand metric tons annually.
With around one thousand metric tons from mines, the United States is also among the ten leading primary silver producers worldwide. Mexico is by far the leading silver producer, extracting more than four thousand metric tons from its silver mines. Silver is in most cases obtained as a by-product from zinc, copper and gold mines and refineries. The largest primary silver mines are Cannington in Australia and Fresnillo in Mexico.
Consumption share of the leading silver consumers in 2010, by country
Characteristic
Share of consumption
United States
21.6%
China
14.5%
Japan
11.6%
India
10.7%
Germany
4.5%
Italy
4%
Thailand
3.5%
South Korea
3.4%
UK and Ireland
2.4%
Belgium
2%
Created with Highcharts 7.2.2Share of consumption21.6%21.6%14.5%14.5%11.6%11.6%10.7%10.7%4.5%4.5%4%4%3.5%3.5%3.4%3.4%2.4%2.4%2%2%United StatesChinaJapanIndiaGermanyItalyThailandSouth KoreaUK and IrelandBelgium
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Deutsche Bank. (May 30, 2011). Consumption share of the leading silver consumers in 2010, by country [Graph]. In Statista. Retrieved January 09, 2025, from https://www.statista.com/statistics/216121/top-world-silver-consumers-as-percentage/
Deutsche Bank. "Consumption share of the leading silver consumers in 2010, by country ." Chart. May 30, 2011. Statista. Accessed January 09, 2025. https://www.statista.com/statistics/216121/top-world-silver-consumers-as-percentage/
Deutsche Bank. (2011). Consumption share of the leading silver consumers in 2010, by country . Statista. Statista Inc.. Accessed: January 09, 2025. https://www.statista.com/statistics/216121/top-world-silver-consumers-as-percentage/
Deutsche Bank. "Consumption Share of The Leading Silver Consumers in 2010, by Country ." Statista, Statista Inc., 30 May 2011, https://www.statista.com/statistics/216121/top-world-silver-consumers-as-percentage/
Deutsche Bank, Consumption share of the leading silver consumers in 2010, by country Statista, https://www.statista.com/statistics/216121/top-world-silver-consumers-as-percentage/ (last visited January 09, 2025)
Consumption share of the leading silver consumers in 2010, by country [Graph], Deutsche Bank, May 30, 2011. [Online]. Available: https://www.statista.com/statistics/216121/top-world-silver-consumers-as-percentage/
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