2022
Exports
$41.2MWorld Rnk 13 / 100
Flag Rnk 322 / 1200
2022
PRODUCT COMPLEXITY IN Magnesium
0.95Rnk 193 / 1025
2022
Imports
$42MWorld Rnk 27 / 168
Flag Rnk 524 / 1201
2022
ECONOMIC COMPLEXITY of Russia
0.43Rnk 47 / 133

About

Exports In 2022, Russia exported $41.2M in Magnesium, making it the 13th largest exporter of Magnesium in the world. At the same year, Magnesium was the 322nd most exported product in Russia. The main destination of Magnesium exports from Russia are: United States ($25.9M), Kazakhstan ($3.53M), China ($2.71M), Slovakia ($2.38M), and Germany ($1.41M).

The fastest growing export markets for Magnesium of Russia between 2021 and 2022 were United States ($9.43M), China ($2.71M), and Slovakia ($1.23M).

Imports In 2022, Russia imported $42M in Magnesium, becoming the 27th largest importer of Magnesium in the world. At the same year, Magnesium was the 524th most imported product in Russia. Russia imports Magnesium primarily from: China ($38.4M), Turkey ($1.8M), Germany ($1.1M), Netherlands ($466k), and Bulgaria ($130k).

The fastest growing import markets in Magnesium for Russia between 2021 and 2022 were China ($5.17M), Turkey ($1.19M), and Germany ($1.02M).

Latest Trends

Oct 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Magnesium. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$41.2M
IMPORTS (2022)$42M
NET TRADE (2022)-$761k

In 2022, Russia exported $41.2M in Magnesium. The main destinations of Russia exports on Magnesium were United States ($25.9M), Kazakhstan ($3.53M), China ($2.71M), Slovakia ($2.38M), and Germany ($1.41M).

In 2022, Russia imported $42M in Magnesium, mainly from China ($38.4M), Turkey ($1.8M), Germany ($1.1M), Netherlands ($466k), and Bulgaria ($130k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Magnesium EXPORT MARKETS FOR Russia WERE (2021 - 2022):
United States$9.43M (57.3%)
China$2.71M (1%)
Slovakia$1.23M (106%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Magnesium BY Russia WERE (2021 - 2022):
Germany-$2M (-58.7%)
Belgium-$1.65M (-100%)
Canada-$1.34M (-99.5%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Russia's main exporting competitors in Magnesium were:
China $2.46B
In 2022, Russia's main importing competitors in Magnesium were:

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Trade Value of Magnesium by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $1.23M
TOP IMPORT POTENTIALChina+ $15.8M

Magnesium’s highest export potential is Germany. With an export gap of $1.23M.   Magnesium’s highest import potential is China with an import gap of $15.8M.

See methodology.

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