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Magnesium; articles thereof, including waste and scrap

8104 (Harmonized System 1992 for 4-digit)

2022
World Trade $4.15BRnk 596 / 1218
2022
Top Exporter | Top Importer $2.46B | $877MChina | United States
2022
Product Complexity 0.85Rnk 226 / 1033
2021 - 2022
Export Growth (CAGR) 73.3%Rnk 17 / 1218
2022
Share of World Trade 0.018%Rnk 596 / 1218

About

Overview This page contains the latest trade data of Magnesium. In 2022, Magnesium were the world's 596th most traded product, with a total trade of $4.15B. Between 2021 and 2022 the exports of Magnesium grew by 73.3%, from $2.4B to $4.15B. Trade in Magnesium represent 0.018% of total world trade.

Magnesium are a part of Cermet articles. They include Magnesium unwrought > 99.8% pure, Magnesium unwrought nes, Magnesium raspings/turnings/etc, size graded, powder, Magnesium, articles thereof nes, and Magnesium waste or scrap.

Exports In 2022 the top exporters of Magnesium  were China ($2.46B), Israel ($231M), Turkey ($152M), Austria ($127M), and Netherlands ($127M).

Imports In 2022 the top importers of Magnesium were United States ($877M), Canada ($477M), Germany ($211M), India ($196M), and Japan ($167M).

Ranking Magnesium ranks 226th in the Product Complexity Index (PCI).

Description Magnesium is a metal that is used in the production of many different products. It's often used as an alloy with other metals, such as aluminum and iron. Magnesium waste and scrap are materials that contain magnesium, but aren't useful for their original purpose.

Latest Trends

Latest Data

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Flow
Y-AXIS SCALE

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

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

Explore Latest Trends

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2022)China$2.46B
Top Destination (2022)United States$877M

In 2022 Magnesium were the world's 596th most traded product (out of 1,218).

In 2022, the top exporters of Magnesium were China ($2.46B), Israel ($231M), Turkey ($152M), Austria ($127M), and Netherlands ($127M).

In 2022, the top importers of Magnesium were United States ($877M), Canada ($477M), Germany ($211M), India ($196M), and Japan ($167M).

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Exporters of Magnesium (2022)
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Importers of Magnesium (2022)
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Market Dynamics

Color
Top Origin Growth (2021 -  2022)China$969M
Top Destination Growth (2021 -  2022)United States$651M

Between 2021 and 2022, the exports of Magnesium grew the fastest in China ($969M), Israel ($134M), Turkey ($101M), Canada ($77.6M), and Czechia ($76.6M).

Between 2021 and 2022, the fastest growing importers of Magnesium were United States ($651M), Canada ($208M), Turkey ($105M), India ($91.3M), and Czechia ($82.5M).

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Exporters of Magnesium (2021 - 2022)

Importers of Magnesium (2021 - 2022)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Magnesium.

In 2022, market concentration measured using Shannon Entropy, was 2.83. This means that most of the exports of Magnesium are explained by 7 countries.

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Value of Exports in Magnesium

Net Trade

TOP NET EXPORTER (2022)China$2.45B
TOP NET IMPORTER (2022)United States$789M

This map shows which countries export or import more of Magnesium. Each country is colored based on the difference in exports and imports of Magnesium during 2022.

In 2022, the countries that had a largest trade value in exports than in imports of Magnesium were China ($2.45B), Israel ($218M), Austria ($59.3M), Hong Kong ($21.6M), and Hungary ($12.3M).

In 2022, the countries that had a largest trade value in imports than in exports of Magnesium were United States ($789M), Canada ($372M), India ($170M), Japan ($161M), and Germany ($102M).

Net Trade (2022)

Disaggregation

Value

In 2022, the world most traded Magnesium, disaggragated by their HS6 level were Magnesium unwrought > 99.8% pure ($1.8B), Magnesium unwrought nes ($1.16B), Magnesium raspings/turnings/etc, size graded, powder ($589M), Magnesium, articles thereof nes ($326M), and Magnesium waste or scrap ($278M)

HS6 Disaggregation for Magnesium (2022)
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Country Comparison

Flow
Measure
Ranking

This visualization shows the countries that have an important ratio of their trade related to Magnesium.
It is possible to select the main countries that export or import Magnesium in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Magnesium by percentage of total exports

Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2022)

Related Products

This visualization shows products that are likely to be exported by countries that export Magnesium.

Country by Relatedness

The following visualization shows the relatedness of Magnesium to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2022)

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