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Platinum; unwrought or in semi-manufactured forms, or in powder form

7110 (Harmonized System 1992 for 4-digit)

2023
World Trade $49BRnk 84 / 1217
2023
Top Exporter | Top Importer $16.2B | $8.59BSouth Africa | United States
2023
Product Complexity 0.21Rnk 484 / 1044
2022 - 2023
Export Growth (CAGR) -32.1%Rnk 1166 / 1217
2023
Share of World Trade 0.22%Rnk 84 / 1217

About

Overview This page contains the latest trade data of Platinum. In 2023, Platinum were the world's 84th most traded product, with a total trade of $49B. Between 2022 and 2023 the exports of Platinum decreased by -32.1%, from $72.2B to $49B. Trade in Platinum represent 0.22% of total world trade.

Platinum are a part of Precious stones, metals, & pearls. They include Platinum unwrought or in powder form, Palladium unwrought or in powder form, Rhodium unwrought or in powder form, Platinum in semi-manufactured forms, Palladium in semi-manufactured forms, Iridium, osmium and ruthenium unwrought or powder for, Rhodium in semi-manufactured forms, and Iridium, osmium and ruthenium, semi-manufactured.

Exports In 2023 the top exporters of Platinum  were South Africa ($16.2B), Russia ($6.84B), Germany ($4.32B), United Kingdom ($3.96B), and Belgium ($3.56B).

Imports In 2023 the top importers of Platinum were United States ($8.59B), Japan ($5.95B), China ($5.77B), Germany ($5.28B), and United Kingdom ($5.28B).

Ranking Platinum ranks 484th in the Product Complexity Index (PCI).

Description Platinum is a precious metal that is used in the production of jewelry, electrical contacts, and other products. Platinum is also used in the production of catalytic converters for automobiles.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Platinum. 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)South Africa$16.2B
Top Destination (2023)United States$8.59B

In 2023 Platinum were the world's 84th most traded product (out of 1,217).

In 2023, the top exporters of Platinum were South Africa ($16.2B), Russia ($6.84B), Germany ($4.32B), United Kingdom ($3.96B), and Belgium ($3.56B).

In 2023, the top importers of Platinum were United States ($8.59B), Japan ($5.95B), China ($5.77B), Germany ($5.28B), and United Kingdom ($5.28B).

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

Color
Top Origin Growth (2022 -  2023)China$193M
Top Destination Growth (2022 -  2023)Hong Kong$462M

Between 2022 and 2023, the exports of Platinum grew the fastest in China ($193M), Armenia ($192M), France ($171M), Zimbabwe ($92.8M), and Ireland ($46.7M).

Between 2022 and 2023, the fastest growing importers of Platinum were Hong Kong ($462M), Armenia ($186M), Czechia ($84M), South Africa ($64M), and Russia ($18.9M).

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Exporters of Platinum (2022 - 2023)

Importers of Platinum (2022 - 2023)

Market Concentration

Value

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

In 2023, market concentration measured using Shannon Entropy, was 3.33. This means that most of the exports of Platinum are explained by 10 countries.

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Value of Exports in Platinum

Net Trade

TOP NET EXPORTER (2023)South Africa$16.1B
TOP NET IMPORTER (2023)China$5.52B

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

In 2023, the countries that had a largest trade value in exports than in imports of Platinum were South Africa ($16.1B), Russia ($6.8B), Belgium ($2.89B), Norway ($394M), and Italy ($381M).

In 2023, the countries that had a largest trade value in imports than in exports of Platinum were China ($5.52B), United States ($5.22B), Japan ($4.18B), Hong Kong ($4.01B), and United Kingdom ($1.32B).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Platinum, disaggragated by their HS6 level were Palladium unwrought or in powder form ($17.4B), Platinum unwrought or in powder form ($12.9B), Rhodium unwrought or in powder form ($10.2B), Platinum in semi-manufactured forms ($4.51B), and Iridium, osmium and ruthenium unwrought or... ($1.95B)

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

Top 10 Exporters Countries of Platinum by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALChina+ $200M
TOP IMPORT POTENTIALUnited Kingdom+ $4.38M

Platinum’s highest export potential is China. With an export gap of $200M.  Platinum’s highest import potential is United Kingdom with an import gap of $4.38M.

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 Platinum.

Country by Relatedness

The following visualization shows the relatedness of Platinum 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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