Precious MetalsXIV (Harmonized System 1992 for Section)
2020 World Trade: $699B, Rnk 8 / 21
2020 Top Exporter | Top Importer: $81.2B | $104B, Switzerland | United Kingdom
2020 Product Complexity: -1.71, Rnk 20 / 21
2019 - 2020 Export Growth (CAGR): 7.28%, Rnk 2 / 21
2018 Mean Tariff: 7.62%, Rnk 13 / 21
2020 Share of World Trade: 4.17%, Rnk 8 / 21
Overview This page contains the latest trade data of Precious Metals. In 2020, Precious Metals were the world's 8th most traded product, with a total trade of $699B. Between 2019 and 2020 the exports of Precious Metals grew by 7.28%, from $652B to $699B. Trade in Precious Metals represent 4.17% of total world trade.
Precious Metals include Gold, Diamonds, Jewellery, Platinum, Silver, Precious Metal Scraps, Precious Stones, Imitation Jewellery, Other Precious Metal Products, and Metal-Clad Products, among others.
Exports In 2020 the top exporters of Precious Metals were Switzerland ($81.2B), United States ($46.9B), Hong Kong ($44.3B), United Arab Emirates ($42.6B), and United Kingdom ($34.4B).
Imports In 2020 the top importers of Precious Metals were United Kingdom ($104B), Switzerland ($104B), United States ($92.4B), Hong Kong ($59.1B), and United Arab Emirates ($53.5B).
Tariffs In 2018 the average tariff for Precious Metals was 7.62%, making it the 13th lowest tariff using the Section product classification.
Ranking Precious Metals ranks 20th in the Product Complexity Index (PCI).
The following visualization shows the latest trends on Precious Metals. 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): Switzerland, $81.2B
Top Destination (2020): United Kingdom, $104B
Precious Metals are the world's 8th most traded product.
In 2020, the top exporters of Precious Metals were Switzerland ($81.2B), United States ($46.9B), Hong Kong ($44.3B), United Arab Emirates ($42.6B), and United Kingdom ($34.4B).
In 2020, the top importers of Precious Metals were United Kingdom ($104B), Switzerland ($104B), United States ($92.4B), Hong Kong ($59.1B), and United Arab Emirates ($53.5B).
Trade by country
Top Origin Growth (2019 - 2020): Russia, $15.6B
Top Destination Growth (2019 - 2020): United States, $39.6B
Between 2019 and 2020, the exports of Precious Metals grew the fastest in Russia ($15.6B), Hong Kong ($14.6B), Switzerland ($6.59B), Iraq ($5.44B), and Guinea ($5.32B).
Between 2019 and 2020, the fastest growing importers of Precious Metals were United States ($39.6B), United Kingdom ($20.7B), Switzerland ($13.5B), Turkey ($11.8B), and Canada ($7.93B).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Precious Metals.
In 2020, market concentration measured using Shannon Entropy, was 5.31. This means that most of the exports of Precious Metals are explained by 39 countries.
TOP NET EXPORTER (2020): Russia, $32.3B
TOP NET IMPORTER (2020): United Kingdom, $69.9B
This map shows which countries export or import more of Precious Metals. Each country is colored based on the difference in exports and imports of Precious Metals during 2020.
In 2020, the countries that had a largest trade value in exports than in imports of Precious Metals were Russia ($32.3B), South Africa ($29.5B), Thailand ($11.2B), Australia ($10.4B), and Guinea ($8.16B).
In 2020, the countries that had a largest trade value in imports than in exports of Precious Metals were United Kingdom ($69.9B), United States ($45.5B), Switzerland ($23.1B), Turkey ($17.2B), and India ($15.3B).
In 2020, the world most traded Precious Metals, disaggragated by their HS6 level were Gold ($422B), Diamonds ($72.4B), Jewellery ($65B), Platinum ($63B), and Precious Metal Scraps ($26B)
This visualization shows the countries that have an important ratio of their trade related to Precious Metals. It is possible to select the main countries that export or import Precious Metals 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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