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XIV (Harmonized System 1992 for Section)

2023
World Trade $933BRnk 7 / 21
2023
Top Exporter | Top Importer $124B | $131BSwitzerland | Switzerland
2023
Product Complexity -1.75Rnk 20 / 21
2022 - 2023
Export Growth (CAGR) 3.14%Rnk 4 / 21
2023
Share of World Trade 4.13%Rnk 7 / 21

About

Overview This page contains the latest trade data of Precious Metals. In 2023, Precious Metals were the world's 7th most traded product, with a total trade of $933B. Between 2022 and 2023 the exports of Precious Metals grew by 3.14%, from $904B to $933B. Trade in Precious Metals represent 4.13% of total world trade.

Precious Metals include Precious stones, metals, & pearls.

Exports In 2023 the top exporters of Precious Metals  were Switzerland ($124B), United Arab Emirates ($68.9B), United States ($57.4B), South Africa ($50.7B), and United Kingdom ($42.8B).

Imports In 2023 the top importers of Precious Metals were Switzerland ($131B), United Arab Emirates ($112B), Hong Kong ($110B), China ($106B), and United States ($75B).

Ranking Precious Metals ranks 20th 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 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.

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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)Switzerland$124B
Top Destination (2023)Switzerland$131B

In 2023 Precious Metals were the world's 7th most traded product (out of 21).

In 2023, the top exporters of Precious Metals were Switzerland ($124B), United Arab Emirates ($68.9B), United States ($57.4B), South Africa ($50.7B), and United Kingdom ($42.8B).

In 2023, the top importers of Precious Metals were Switzerland ($131B), United Arab Emirates ($112B), Hong Kong ($110B), China ($106B), and United States ($75B).

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Exporters of Precious Metals (2023)
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Importers of Precious Metals (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Canada$13.9B
Top Destination Growth (2022 -  2023)Hong Kong$28.5B

Between 2022 and 2023, the exports of Precious Metals grew the fastest in Canada ($13.9B), United Arab Emirates ($12.4B), Switzerland ($10.2B), Hong Kong ($9.39B), and Kazakhstan ($7.78B).

Between 2022 and 2023, the fastest growing importers of Precious Metals were Hong Kong ($28.5B), United Arab Emirates ($18.6B), United Kingdom ($16.7B), Turkey ($11.6B), and China ($5.63B).

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Exporters of Precious Metals (2022 - 2023)

Importers of Precious Metals (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Precious Metals.

In 2023, market concentration measured using Shannon Entropy, was 5.29. This means that most of the exports of Precious Metals are explained by 39 countries.

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Value of Exports in Precious Metals

Net Trade

TOP NET EXPORTER (2023)South Africa$45.5B
TOP NET IMPORTER (2023)China$76.6B

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 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Precious Metals were South Africa ($45.5B), Russia ($24.4B), Australia ($22.5B), Canada ($20.5B), and Kazakhstan ($18.9B).

In 2023, the countries that had a largest trade value in imports than in exports of Precious Metals were China ($76.6B), Hong Kong ($75.8B), United Arab Emirates ($42.9B), India ($30B), and United Kingdom ($26B).

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 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.

Top 10 Exporters Countries of Precious Metals by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALGermany+ $1.26B
TOP IMPORT POTENTIALGermany+ $1.06B

Precious Metals’s highest export potential is Germany. With an export gap of $1.26B.  Precious Metals’s highest import potential is Germany with an import gap of $1.06B.

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)

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