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Cobalt; mattes and other intermediate products of cobalt metallurgy, cobalt and articles thereof, including waste and scrap

8105 (Harmonized System 1992 for 4-digit)

2023
World Trade $5.27BRnk 524 / 1217
2023
Top Exporter | Top Importer $2.4B | $2.71BDemocratic Republic of the Congo | China
2023
Product Complexity -2.29Rnk 1028 / 1044
2022 - 2023
Export Growth (CAGR) -47.3%Rnk 1201 / 1217
2023
Share of World Trade 0.023%Rnk 524 / 1217

About

Overview This page contains the latest trade data of Cobalt. In 2023, Cobalt were the world's 524th most traded product, with a total trade of $5.27B. Between 2022 and 2023 the exports of Cobalt decreased by -47.3%, from $10B to $5.27B. Trade in Cobalt represent 0.023% of total world trade.

Cobalt are a part of Cermet articles. They include Cobalt, unwrought, matte, waste or scrap, powders and Cobalt, articles thereof, nes.

Exports In 2023 the top exporters of Cobalt  were Democratic Republic of the Congo ($2.4B), Canada ($456M), United States ($416M), United Kingdom ($185M), and Japan ($174M).

Imports In 2023 the top importers of Cobalt were China ($2.71B), United States ($385M), Japan ($291M), Chinese Taipei ($170M), and United Kingdom ($168M).

Ranking Cobalt ranks 1028th in the Product Complexity Index (PCI).

Description Cobalt is a metal that is used in the production of batteries, catalysts, and other products. Cobalt waste and scrap are byproducts of the production of cobalt.

Latest Trends

Latest Data

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

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

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* 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 (2023)Democratic Republic of the Congo$2.4B
Top Destination (2023)China$2.71B

In 2023 Cobalt were the world's 524th most traded product (out of 1,217).

In 2023, the top exporters of Cobalt were Democratic Republic of the Congo ($2.4B), Canada ($456M), United States ($416M), United Kingdom ($185M), and Japan ($174M).

In 2023, the top importers of Cobalt were China ($2.71B), United States ($385M), Japan ($291M), Chinese Taipei ($170M), and United Kingdom ($168M).

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Exporters of Cobalt (2023)
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Importers of Cobalt (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Malaysia$53.1M
Top Destination Growth (2022 -  2023)Russia$24.5M

Between 2022 and 2023, the exports of Cobalt grew the fastest in Malaysia ($53.1M), United States ($30.7M), United Kingdom ($13.3M), France ($3.07M), and Costa Rica ($2.43M).

Between 2022 and 2023, the fastest growing importers of Cobalt were Russia ($24.5M), Ireland ($10.9M), Switzerland ($8.93M), India ($7.83M), and Finland ($5.59M).

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Exporters of Cobalt (2022 - 2023)

Importers of Cobalt (2022 - 2023)

Market Concentration

Value

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

In 2023, market concentration measured using Shannon Entropy, was 3.29. This means that most of the exports of Cobalt are explained by 9 countries.

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Value of Exports in Cobalt

Net Trade

TOP NET EXPORTER (2023)Democratic Republic of the Congo$2.4B
TOP NET IMPORTER (2023)China$2.55B

This map shows which countries export or import more of Cobalt. Each country is colored based on the difference in exports and imports of Cobalt during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Cobalt were Democratic Republic of the Congo ($2.4B), Canada ($415M), Finland ($150M), Madagascar ($139M), and Australia ($122M).

In 2023, the countries that had a largest trade value in imports than in exports of Cobalt were China ($2.55B), Chinese Taipei ($151M), South Korea ($142M), Japan ($117M), and Netherlands ($92.1M).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Cobalt, disaggragated by their HS6 level were Cobalt, unwrought, matte, waste or scrap,... ($4.57B) and Cobalt, articles thereof, nes ($705M)

HS6 Disaggregation for Cobalt (2023)
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Country Comparison

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Ranking

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

Top 10 Exporters Countries of Cobalt by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALSouth Korea+ $11.6M
TOP IMPORT POTENTIALSouth Africa+ $3.2k

Cobalt’s highest export potential is South Korea. With an export gap of $11.6M.  Cobalt’s highest import potential is South Africa with an import gap of $3.2k.

See methodology.

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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 (2023)

Related Products

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

Country by Relatedness

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

Relative Relatedness by Country (2023)

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