Silver is a metal with a variety of applications. It is technically classified as a precious metal but it has many industrial uses, and it is used in a variety of technologies and products that most people in the developed world use on a daily basis. Worldwide silver production increased during 2014 despite reduced demand for the metal across several industries. Specifically, the US Geological Survey (USGS) states in its most recent report on silver that mine output rose to 26,100 metric tons (MT) last year. Insidermonkey experts made a list of 8 countries that produce the most silver in the world.
The USGS notes that the need for silver in photographic applications has been greatly reduced in recent years, and highlights declining interest in the metal from the jewelry and electronics industries. Despite those shifts, new uses for silver in medical applications and improving demand for the metal in other sectors could buoy future demand for silver. If you are interested, you might want to check our article on 8 Countries That Produce the Most Steel in the World and compare these two lists.