Why the U.S. imports silver

Domestic mining and recycling cover only part of use

USGS estimates U.S. mine output at 1,100 metric tonnes and recovery from new and old scrap at 1,000 tonnes in 2025. Apparent consumption was about 9,400 tonnes. Recycling was equivalent to roughly 11% of that measure, while the reported net import reliance estimate was 77%.

Apparent consumption is a supply-based calculation. It combines mine production, secondary production and trade, with adjustments for Government and industry stocks; it excludes investment purchases and sales. It is not a survey of how much silver factories used. The rounded published quantities should not be treated as an exact material balance.

The supplier story has a different denominator

Mexico and Canada account for 65% of the silver imports in USGS's 2021–2024 breakdown. Those shares describe the origins of imports, not each country's share of all U.S. silver use. They cannot be multiplied by the 2025 reliance percentage to produce a reliable 2025 country allocation.

Silver content of base-metal ores and concentrates, ash and residues, refined bullion and dore; excludes coinage, waste and scrap. Net reliance is a trade-and-stock measure, not a forecast of shortages or prices. For the separately estimated end-use mix, see where America uses silver.