Global silver supply distribution by source 2014

This statistic represents the world silver supply distribution in 2004 and 2014, sorted by source. In 2004, 70 percent of the world silver was supplied by mine production, while for 2014 the supply from this source is projected to be 84 percent.

World silver supply

Silver is a soft, white transition metal with a lustrous sheen and is considered the most reflective metal. It is also one of the best thermal and electrical conductors in the world. It is used in a wide variety of markets including as an investment as coins, as a precious metal in solar panels and silverware, in photography as a part of photographic film, or as electrical conductors and contacts. The world’s supply of silver is mostly provided through mine production and scraps, totaling around 77 percent and 22 percent of the global share, respectively.

The United States and China consume the world’s largest amounts of silver and are among the top producers in the world. In 2010, the United States consumed almost 22 percent of the global share; China consumed 14.5 percent. In 2013 the U.S. produced some 1,100 metric tons of silver and China produced 4,000 metric tons. The industrial sector claims a large share of the global silver supply, totaling 43 percent of demand in 2012. Demand for silver is also quite high in the jewelry and silverware market, accumulating 21 percent of global demand. However, industrial demand for silver has slowed significantly since the 1970s. Yet, the potential and versatility of silver may increase the demand for the metal. The development of new technology and silver’s usefulness in many electronics may generate a strong demand once again for silver.