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2022
Exports $87.6MWorld Rnk 9 / 100
Flag Rnk 766 / 1217
2022
Destination $3.89M Canada
2021 - 2022
FASTEST GROWING MARKET $3.89MSingapore
2022
PRODUCT COMPLEXITY IN Magnesium0.95Rnk 193 / 1025
2022
Imports $877MWorld Rnk 1 / 168
Flag Rnk 427 / 1216
2022
Origin $135M Israel
2021 - 2022
FASTEST GROWING ORIGIN $135MIsrael
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $87.6M in Magnesium, making it the 9th largest exporter of Magnesium in the world. At the same year, Magnesium was the 766th most exported product in United States. The main destination of Magnesium exports from United States are: Canada ($34.1M), Singapore ($9.7M), United Kingdom ($7.26M), Mexico ($7.25M), and China ($5.49M).

The fastest growing export markets for Magnesium of United States between 2021 and 2022 were Singapore ($3.89M), China ($3.71M), and Bahrain ($1.63M).

Imports In 2018, United States imported $877M in Magnesium, becoming the 1st largest importer of Magnesium in the world. At the same year, Magnesium was the 427th most imported product in United States. United States imports Magnesium primarily from: Israel ($159M), Turkey ($105M), Canada ($99.6M), China ($99.6M), and Czechia ($91.9M).

The fastest growing import markets in Magnesium for United States between 2021 and 2022 were Israel ($135M), Turkey ($85.7M), and Czechia ($74.1M).

COMPANIES In 2023, leading companies such as Coaster Fine Furniture (1), Riviana Foods (1), and Tmall (1) were at the forefront of shipping Magnesium to the United States.

Latest Trends

August 2024

About

Overview In August 2024 United States' Magnesium exports accounted up to $5.02M and imports accounted up to $27.7M, resulting in a negative trade balance of $22.7M. Between August 2023 and August 2024 the exports of United States'   Magnesium have decreased by $-278k (-5.25%) from $5.3M to $5.02M, while imports decreased by $-16.3M (-37%) from $44M to $27.7M.

Destinations In August 2024, Magnesium were exported mostly to United Kingdom ($1.01M), Canada ($932k), Mexico ($675k), Australia ($666k), and Thailand ($402k), and were imported mostly from Turkey ($5.12M), Israel ($5.11M), South Korea ($3.6M), Canada ($3.25M), and Mexico ($1.98M).

Growth In August 2024, the decrease in Magnesium's year-by-year exports was explained primarily by a decrease in exports to Canada ($-3.13M or -71%), Mexico ($-276k or -48.3%), and Turkey ($-152k or -96.2%). In August 2024, the decrease in Magnesium's year-by-year imports was explained primarily by a decrease in imports from Russia ($-3.64M or -100%), Canada ($-2.33M or -34.2%), and Hungary ($-970k or -57.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-278k(-5.25%)
IMPORT GROWTH (August 2023 - August 2024)$-16.3M(-37%)
MAIN EXPORTER (August 2024)Colorado$1.85M
MAIN DESTINATION (August 2024)United Kingdom$1.01M

This section shows Magnesium's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Magnesium over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$87.6M
IMPORTS (2022)$877M
NET TRADE (2022)-$789M

In 2022, United States exported $87.6M in Magnesium. The main destinations of United States exports on Magnesium were Canada ($34.1M), Singapore ($9.7M), United Kingdom ($7.26M), Mexico ($7.25M), and China ($5.49M).

In 2022, United States imported $877M in Magnesium, mainly from Israel ($159M), Turkey ($105M), Canada ($99.6M), China ($99.6M), and Czechia ($91.9M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Magnesium EXPORT MARKETS FOR United States WERE (2021 - 2022):
Singapore$3.89M (67%)
China$3.71M (208%)
Bahrain$1.63M (30.1k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Magnesium BY United States WERE (2021 - 2022):
Mexico-$2.31M (-24.1%)
Canada-$1.76M (-4.92%)
Ireland-$1.22M (-57.8%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Magnesium were:
China $2.46B
Israel $231M
Turkey $152M
In 2022, United States's main importing competitors in Magnesium were:
Canada $477M
Germany $211M

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Trade Value of Magnesium by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALCanada+ $5.91M
TOP IMPORT POTENTIALChina+ $48.5M

Magnesium’s highest export potential is Canada. With an export gap of $5.91M.   Magnesium’s highest import potential is China with an import gap of $48.5M.

See methodology.

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