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810419 (Harmonized System 1992 for 6-digit)

2023
World Trade $723MRnk 2467 / 4644
2023
Top Exporter | Top Importer $374M | $175MChina | United States
2023
Product Complexity 1.19Rnk 481 / 4656
2022 - 2023
Export Growth (CAGR) -42.5%Rnk 4470 / 4644
2023
Share of World Trade 0.0032%Rnk 2467 / 4644

About

Overview This page contains the latest trade data of Magnesium unwrought nes. In 2023, Magnesium unwrought nes were the world's 2467th most traded product, with a total trade of $723M. Between 2022 and 2023 the exports of Magnesium unwrought nes decreased by -42.5%, from $1.26B to $723M. Trade in Magnesium unwrought nes represent 0.0032% of total world trade.

Magnesium unwrought nes are a part of Magnesium.

Exports In 2023 the top exporters of Magnesium unwrought nes  were China ($374M), Czechia ($91.8M), Hungary ($28.9M), Austria ($25.8M), and South Korea ($25.7M).

Imports In 2023 the top importers of Magnesium unwrought nes were United States ($175M), Canada ($84.9M), Romania ($75.1M), Germany ($44.8M), and Austria ($40.1M).

Ranking Magnesium unwrought nes ranks 481st in the Product Complexity Index (PCI).

Description Magnesium is an important industrial metal. It is used in the production of steel, in oil refineries, and in making aluminum, as well as in the production of plastics, fertilizers, and pharmaceuticals.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Magnesium unwrought nes. 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$374M
Top Destination (2023)United States$175M

In 2023 Magnesium unwrought nes were the world's 2467th most traded product (out of 4,644).

In 2023, the top exporters of Magnesium unwrought nes were China ($374M), Czechia ($91.8M), Hungary ($28.9M), Austria ($25.8M), and South Korea ($25.7M).

In 2023, the top importers of Magnesium unwrought nes were United States ($175M), Canada ($84.9M), Romania ($75.1M), Germany ($44.8M), and Austria ($40.1M).

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

Color
Top Origin Growth (2022 -  2023)Austria$11.3M
Top Destination Growth (2022 -  2023)Mexico$23M

Between 2022 and 2023, the exports of Magnesium unwrought nes grew the fastest in Austria ($11.3M), Croatia ($7.11M), United States ($1.95M), Mexico ($1.86M), and Netherlands ($1.59M).

Between 2022 and 2023, the fastest growing importers of Magnesium unwrought nes were Mexico ($23M), Romania ($5.29M), Singapore ($4.03M), Netherlands ($2.63M), and Tunisia ($1.29M).

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Exporters of Magnesium unwrought nes (2022 - 2023)

Importers of Magnesium unwrought nes (2022 - 2023)

Market Concentration

Value

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

In 2023, market concentration measured using Shannon Entropy, was 2.85. This means that most of the exports of Magnesium unwrought nes are explained by 7 countries.

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Value of Exports in Magnesium unwrought nes

Net Trade

TOP NET EXPORTER (2023)China$373M
TOP NET IMPORTER (2023)United States$158M

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

In 2023, the countries that had a largest trade value in exports than in imports of Magnesium unwrought nes were China ($373M), Czechia ($65.8M), Hungary ($28.4M), United Kingdom ($23.8M), and Israel ($19.4M).

In 2023, the countries that had a largest trade value in imports than in exports of Magnesium unwrought nes were United States ($158M), Romania ($67.4M), Canada ($62.7M), Mexico ($30.6M), and Japan ($29.4M).

Net Trade (2023)

Country Comparison

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Ranking

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

Top 10 Exporters Countries of Magnesium unwrought nes 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 (2023)

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