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Magnesium; articles thereof, including waste and scrap

8104 (Harmonized System 1992 for 4-digit)

2023
World Trade $2.68BRnk 695 / 1217
2023
Top Exporter | Top Importer $1.5B | $598MChina | United States
2023
Product Complexity 1.03Rnk 171 / 1044
2022 - 2023
Export Growth (CAGR) -40.4%Rnk 1195 / 1217
2023
Share of World Trade 0.012%Rnk 695 / 1217

About

Overview This page contains the latest trade data of Magnesium. In 2023, Magnesium were the world's 695th most traded product, with a total trade of $2.68B. Between 2022 and 2023 the exports of Magnesium decreased by -40.4%, from $4.5B to $2.68B. Trade in Magnesium represent 0.012% 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 2023 the top exporters of Magnesium  were China ($1.5B), Israel ($211M), Turkey ($116M), Austria ($106M), and Czechia ($94M).

Imports In 2023 the top importers of Magnesium were United States ($598M), Canada ($253M), Germany ($203M), India ($119M), and Japan ($107M).

Ranking Magnesium ranks 171st 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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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 (2023)China$1.5B
Top Destination (2023)United States$598M

In 2023 Magnesium were the world's 695th most traded product (out of 1,217).

In 2023, the top exporters of Magnesium were China ($1.5B), Israel ($211M), Turkey ($116M), Austria ($106M), and Czechia ($94M).

In 2023, the top importers of Magnesium were United States ($598M), Canada ($253M), Germany ($203M), India ($119M), and Japan ($107M).

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

Color
Top Origin Growth (2022 -  2023)Brazil$10.4M
Top Destination Growth (2022 -  2023)Mexico$48.5M

Between 2022 and 2023, the exports of Magnesium grew the fastest in Brazil ($10.4M), Croatia ($6.61M), Mexico ($1.39M), Lithuania ($726k), and Oman ($508k).

Between 2022 and 2023, the fastest growing importers of Magnesium were Mexico ($48.5M), Hong Kong ($907k), Dominican Republic ($735k), Lithuania ($389k), and Tunisia ($323k).

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Exporters of Magnesium (2022 - 2023)

Importers of Magnesium (2022 - 2023)

Market Concentration

Value

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

In 2023, market concentration measured using Shannon Entropy, was 2.9. 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 (2023)China$1.5B
TOP NET IMPORTER (2023)United States$548M

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 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Magnesium were China ($1.5B), Israel ($208M), Turkey ($49.4M), Austria ($39.5M), and Czechia ($36.2M).

In 2023, the countries that had a largest trade value in imports than in exports of Magnesium were United States ($548M), Canada ($179M), Germany ($136M), India ($107M), and Japan ($101M).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Magnesium, disaggragated by their HS6 level were Magnesium unwrought > 99.8% pure ($1.07B), Magnesium unwrought nes ($723M), Magnesium raspings/turnings/etc, size graded, powder ($420M), Magnesium, articles thereof nes ($299M), and Magnesium waste or scrap ($170M)

HS6 Disaggregation for Magnesium (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 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

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALIndia+ $58.4M
TOP IMPORT POTENTIALRussia+ $634k

Magnesium’s highest export potential is India. With an export gap of $58.4M.  Magnesium’s highest import potential is Russia with an import gap of $634k.

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 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 (2023)

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