Platinum7110 (Harmonized System 1992 for 4-digit)
2020 World Trade: $63B, Rnk 43 / 1217
2020 Top Exporter | Top Importer: $11.9B | $11.3B, South Africa | United States
2020 Product Complexity: 0.57, Rnk 331 / 1028
2019 - 2020 Export Growth (CAGR): 58.5%, Rnk 11 / 1217
2018 Mean Tariff: 5.03%, Rnk 830 / 1259
2020 Share of World Trade: 0.38%, Rnk 43 / 1217
Overview This page contains the latest trade data of Platinum. In 2020, Platinum were the world's 43rd most traded product, with a total trade of $63B. Between 2019 and 2020 the exports of Platinum grew by 58.5%, from $39.8B to $63B. Trade in Platinum represent 0.38% of total world trade.
Platinum include Platinum unwrought or in powder form, Palladium unwrought or in powder form, Platinum in semi-manufactured forms, Rhodium unwrought or in powder form, 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 2020 the top exporters of Platinum were South Africa ($11.9B), Russia ($10.5B), United Kingdom ($9.27B), United States ($8.14B), and Germany ($5.68B).
Imports In 2020 the top importers of Platinum were United States ($11.3B), United Kingdom ($10.8B), Germany ($7.78B), China ($5.84B), and Japan ($5.78B).
Tariffs In 2018 the average tariff for Platinum was 5.03%, making it the 830th lowest tariff using the HS4 product classification.
The countries with the highest import tariffs for Platinum are Angola (50%), Ethiopia (34.7%), Cameroon (29.4%), and Gabon (29.4%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), United Arab Emirates (0%), Hong Kong (0%), and Japan (0%).
Ranking Platinum ranks 331st 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.
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.
* Using January 2020 exchange rates when trade data is reported in local currency.
Trade By Country
Top Origin (2020): South Africa, $11.9B
Top Destination (2020): United States, $11.3B
Platinum are the world's 43rd most traded product.
In 2020, the top exporters of Platinum were South Africa ($11.9B), Russia ($10.5B), United Kingdom ($9.27B), United States ($8.14B), and Germany ($5.68B).
In 2020, the top importers of Platinum were United States ($11.3B), United Kingdom ($10.8B), Germany ($7.78B), China ($5.84B), and Japan ($5.78B).
Trade by country
Top Origin Growth (2019 - 2020): United Kingdom, $4.42B
Top Destination Growth (2019 - 2020): United States, $4.84B
Between 2019 and 2020, the exports of Platinum grew the fastest in United Kingdom ($4.42B), United States ($4.41B), Russia ($3.95B), South Africa ($2.21B), and Germany ($1.86B).
Between 2019 and 2020, the fastest growing importers of Platinum were United States ($4.84B), United Kingdom ($3.93B), China ($3.2B), Hong Kong ($2.48B), and Germany ($2.48B).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Platinum.
In 2020, market concentration measured using Shannon Entropy, was 3.43. This means that most of the exports of Platinum are explained by 10 countries.
TOP NET EXPORTER (2020): South Africa, $11.6B
TOP NET IMPORTER (2020): China, $5.47B
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 2020.
In 2020, the countries that had a largest trade value in exports than in imports of Platinum were South Africa ($11.6B), Russia ($10.4B), Belgium ($4.02B), Italy ($1.37B), and Norway ($766M).
In 2020, the countries that had a largest trade value in imports than in exports of Platinum were China ($5.47B), Japan ($4.35B), Hong Kong ($4.23B), United States ($3.15B), and Germany ($2.09B).
In 2020, the world most traded Platinum, disaggragated by their HS6 level were Palladium unwrought or in powder form ($25.3B), Rhodium unwrought or in powder form ($15.5B), Platinum unwrought or in powder form ($7.75B), Platinum in semi-manufactured forms ($6.9B), and Palladium in semi-manufactured forms ($5.55B)
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.
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.
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