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Inorganic chemicals; organic and inorganic compounds of precious metals; of rare earth metals, of radio-active elements and of isotopes

28 (Harmonized System 1992 for 2-digit)

2023
World Trade $196BRnk 22 / 96
2023
Top Exporter | Top Importer $35.7B | $24.1BChina | China
2023
Product Complexity -0.84Rnk 79 / 96
2022 - 2023
Export Growth (CAGR) -10.8%Rnk 70 / 96
2023
Share of World Trade 0.87%Rnk 22 / 96

About

Overview This page contains the latest trade data of Inorganic chemicals. In 2023, Inorganic chemicals were the world's 22nd most traded product, with a total trade of $196B. Between 2022 and 2023 the exports of Inorganic chemicals decreased by -10.8%, from $220B to $196B. Trade in Inorganic chemicals represent 0.87% of total world trade.

Inorganic chemicals are a part of Chemical Products. They include Aluminium Oxide, Radioactive Chemicals, Hydrogen, Ammonia, Carbonates, Precious Metal Compounds, Sodium or Potassium Peroxides, Inorganic Salts, Phosphoric Acid, and Other Inorganic Acids, among others.

Exports In 2023 the top exporters of Inorganic chemicals  were China ($35.7B), United States ($15.5B), Germany ($13B), South Korea ($11.4B), and Chile ($10.4B).

Imports In 2023 the top importers of Inorganic chemicals were China ($24.1B), South Korea ($18.7B), United States ($17.3B), India ($9.95B), and Japan ($9.63B).

Ranking Inorganic chemicals ranks 79th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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The following visualization shows the latest trends on Inorganic chemicals. 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)China$35.7B
Top Destination (2023)China$24.1B

In 2023 Inorganic chemicals were the world's 22nd most traded product (out of 96).

In 2023, the top exporters of Inorganic chemicals were China ($35.7B), United States ($15.5B), Germany ($13B), South Korea ($11.4B), and Chile ($10.4B).

In 2023, the top importers of Inorganic chemicals were China ($24.1B), South Korea ($18.7B), United States ($17.3B), India ($9.95B), and Japan ($9.63B).

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Exporters of Inorganic chemicals (2023)
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Importers of Inorganic chemicals (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)South Korea$3.31B
Top Destination Growth (2022 -  2023)South Korea$5.17B

Between 2022 and 2023, the exports of Inorganic chemicals grew the fastest in South Korea ($3.31B), Ireland ($945M), Burma ($838M), Kazakhstan ($650M), and Jamaica ($284M).

Between 2022 and 2023, the fastest growing importers of Inorganic chemicals were South Korea ($5.17B), China ($2.06B), Russia ($362M), Poland ($343M), and Canada ($314M).

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Exporters of Inorganic chemicals (2022 - 2023)

Importers of Inorganic chemicals (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Inorganic chemicals.

In 2023, market concentration measured using Shannon Entropy, was 5.03. This means that most of the exports of Inorganic chemicals are explained by 32 countries.

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Value of Exports in Inorganic chemicals

Net Trade

TOP NET EXPORTER (2023)China$11.6B
TOP NET IMPORTER (2023)South Korea$7.3B

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

In 2023, the countries that had a largest trade value in exports than in imports of Inorganic chemicals were China ($11.6B), Chile ($8.85B), Germany ($5.01B), Australia ($4.83B), and Kazakhstan ($3.83B).

In 2023, the countries that had a largest trade value in imports than in exports of Inorganic chemicals were South Korea ($7.3B), India ($7B), Poland ($4.55B), Japan ($2.16B), and United States ($1.86B).

Net Trade (2023)

Disaggregation

Value
Disaggregation

In 2023, the world most traded Inorganic chemicals, disaggragated by their HS6 level were Radioactive Chemicals ($19B), Carbonates ($17.4B), Aluminium Oxide ($17B), Hydrogen ($13.7B), and Inorganic Salts ($13.5B)

HS6 Disaggregation for Inorganic chemicals (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 Inorganic chemicals.
It is possible to select the main countries that export or import Inorganic chemicals in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Inorganic chemicals by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALIndia+ $791M
TOP IMPORT POTENTIALRussia+ $239M

Inorganic chemicals’s highest export potential is India. With an export gap of $791M.  Inorganic chemicals’s highest import potential is Russia with an import gap of $239M.

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)

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