An Arab country that tops the production and consumption of silver in the Middle East and North Africa … who is it?

Morocco tops the list of silver producers and consumers in the Middle East and North Africa during the year 2024, accounting for 95% of the total regional production and 86% of the consumption volume, according to recent data from Indexbox and CEIC DATA.

Morocco produced 7800 tons of silver, compared to the total production of the region of 8,300 tons, while Turkey came second with a production that did not exceed 260 tons, highlighting the large productive gap between the two countries. In terms of value, regional production reached 276 million dollars (2.74 billion dirhams), recording a decline from its peak in 2016, which amounted to $ 470 million, according to the Moroccan “Depth” website. Consumption, Morocco’s consumption of 2,700 tons of silver and centers, representing 86% of the total consumption of the region of 3100 tons, recording a remarkable regional increase of 140% compared to 2023. The financial value of Moroccan consumption reached 92 million dollars “913 million dirhams”, while the average individual consumption in Morocco recorded an exceptional leap to reach 70 kilograms per thousand people, exceeding A vast difference in the global average of only 5.4 kilograms. The demand for silver witnessed an average annual growth of 14.4% between 2013 and 2024, which reflects a steady increase in industrial and home needs. On the level of foreign trade, Morocco was the semi -exclusive source of silver in the region, with exports for constituted 99.9% of the total regional exports that amounted to 5100 tons per year 2024. Tue size, regional export revenues witnessed a decrease to 13 million dollars “129 million dirhams”, compared to 24 million dollars in 2023, and this is mainly due to the decrease in the average export price by 24.3% to reach 2607 dollars per ton.