All of the World’s Silver Reserves by Country, in One Visualization
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Key Takeaways
- Peru alone holds roughly 22% of the world’s known silver reserves.
- Mexico dominates global silver production, but its reserve base is much smaller than several peers.
Silver prices surged to new all-time highs in December, extending a powerful end-of-year rally supported by geopolitical uncertainty and a weaker U.S. dollar.
Silver futures briefly touched around $80, marking an unprecedented 160% rally in 2025 that outpaced even gold. Against this backdrop, understanding where the world’s silver reserves are concentrated provides crucial context for future supply dynamics.
The data for this visualization comes from the U.S. Geological Survey’s Mineral Commodity Summaries (January 2025). It estimates total global silver reserves at about 641,400 metric tons.
Peru’s Dominant Reserve Position
Peru stands out as the single largest holder of silver reserves, with an estimated 140,000 metric tons. This represents roughly 22% of the global total, giving the country a uniquely strategic position in the silver market.
| Rank | Country | Reserves (metric tons) | % of World Total |
|---|---|---|---|
| 1 |  Peru |
140,000 | 21.9% |
| 2 |  Australia |
94,000 | 14.7% |
| 3 |  Russia |
92,000 | 14.4% |
| 4 |  China |
70,000 | 10.9% |
| 5 |  Poland |
61,000 | 9.5% |
| 6 |  Mexico |
37,000 | 5.8% |
| 7 |  Chile |
26,000 | 4.1% |
| 8 |  United States |
23,000 | 3.6% |
| 9 |  Bolivia |
22,000 | 3.4% |
| 10 |  India |
8,000 | 1.3% |
| 11 |  Argentina |
6,500 | 1.0% |
| 12 |  Canada |
4,900 | 0.8% |
| — |  Other countries |
57,000 | 8.9% |
| — |  World total |
641,400 | 100.0% |
Behind Peru is a cluster of countries with substantial, but smaller, reserve bases. Australia, Russia, and China each hold between 70,000 and 94,000 metric tons, collectively accounting for about 40% of global reserves.
Production Powerhouses vs. Reserve Depth
Mexico offers a striking contrast between production and reserves. It leads the world in silver production, yet holds just 37,000 metric tons of reserves, or about 6% of the global total. Currently, Mexico’s mining sector relies on intensive extraction with fewer projects with established reserves in the pipeline.
Silver in Green Technology
Global silver demand is poised to soar in the next decade, driven by emerging technologies like electric vehicles and solar power.
Silver demand from solar alone has grown from less than 50 million ounces (Moz) a decade ago to an expected 160 Moz in 2023.
Learn More on the Voronoi App 
If you enjoyed today’s post, check out Mapped: Which Countries Hold the Most Gold Reserves? on Voronoi, the new app from Visual Capitalist.
- Source: https://www.visualcapitalist.com/all-of-the-worlds-silver-reserves-by-country-in-one-visualization/
