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V (Harmonized System 1992 for Section)

2021
World Trade $2.89TRnk 2 / 21
2021
Top Exporter | Top Importer $267B | $557BRussia | China
2021
Product Complexity -2.29Rnk 21 / 21
2020 - 2021
Export Growth (CAGR) 59.3%Rnk 1 / 21
2018
Mean Tariff 3.45%Rnk 21 / 21
2021
Share of World Trade 13.8%Rnk 2 / 21

About

Overview This page contains the latest trade data of Mineral Products. In 2021, Mineral Products were the world's 2nd most traded product, with a total trade of $2.89T. Between 2020 and 2021 the exports of Mineral Products grew by 59.3%, from $1.82T to $2.89T. Trade in Mineral Products represent 13.8% of total world trade.

Mineral Products include Mineral fuels, mineral oils and products of their distillation, Ores, slag and ash, and Salt, sulphur, cement, lime, stone, & plaster.

Exports In 2021 the top exporters of Mineral Products  were Russia ($267B), United States ($256B), Australia ($232B), Saudi Arabia ($181B), and Canada ($136B).

Imports In 2021 the top importers of Mineral Products were China ($557B), United States ($216B), Japan ($173B), India ($167B), and South Korea ($149B).

Tariffs In 2018 the average tariff for Mineral Products was 3.45%, making it the 21st lowest tariff using the Section product classification.

Ranking Mineral Products ranks 21st in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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Y-AXIS SCALE

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

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

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Exporters and Importers

Top Origin (2021)Russia$267B
Top Destination (2021)China$557B

In 2021 Mineral Products were the world's 2nd most traded product (out of 21).

In 2021, the top exporters of Mineral Products were Russia ($267B), United States ($256B), Australia ($232B), Saudi Arabia ($181B), and Canada ($136B).

In 2021, the top importers of Mineral Products were China ($557B), United States ($216B), Japan ($173B), India ($167B), and South Korea ($149B).

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Exporters of Mineral Products (2021)
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Importers of Mineral Products (2021)
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Market Dynamics

Color
Top Origin Growth (2020 -  2021)Russia$99.6B
Top Destination Growth (2020 -  2021)China$165B

Between 2020 and 2021, the exports of Mineral Products grew the fastest in Russia ($99.6B), United States ($88B), Australia ($72.2B), Saudi Arabia ($68.7B), and Norway ($65.6B).

Between 2020 and 2021, the fastest growing importers of Mineral Products were China ($165B), United States ($90B), India ($61.2B), Japan ($55.4B), and South Korea ($51.9B).

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Exporters of Mineral Products (2020 - 2021)

Importers of Mineral Products (2020 - 2021)

Market Concentration

Cumulative market share

Value

This chart shows the evolution of the market concentration of exports of Mineral Products.

In 2021, market concentration measured using Shannon Entropy, was 5.39. This means that most of the exports of Mineral Products are explained by 42 countries.

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Value of Exports in Mineral Products

Net Trade

TOP NET EXPORTER (2021)Russia$261B
TOP NET IMPORTER (2021)China$508B

This map shows which countries export or import more of Mineral Products. Each country is colored based on the difference in exports and imports of Mineral Products during 2021.

In 2021, the countries that had a largest trade value in exports than in imports of Mineral Products were Russia ($261B), Australia ($204B), Saudi Arabia ($172B), Norway ($102B), and Canada ($102B).

In 2021, the countries that had a largest trade value in imports than in exports of Mineral Products were China ($508B), Japan ($161B), India ($109B), South Korea ($106B), and Italy ($64.2B).

Net Trade (2021)

Disaggregation

Value
Disaggregation

In 2021, the world most traded Mineral Products, disaggragated by their HS6 level were Mineral fuels, mineral oils and products... ($2.44T), Ores, slag and ash ($397B), and Salt, sulphur, cement, lime, stone, &... ($59.9B)

HS6 Disaggregation for Mineral Products (2021)
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Country Comparison

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Measure
Ranking

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

Top 10 Exporters Countries of Mineral Products 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 (2021)

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