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Nickel; waste and scrap

7503 (Harmonized System 1992 for 4-digit)

2022
World Trade $1.29BRnk 886 / 1218
2022
Top Exporter | Top Importer $218M | $399MUnited Kingdom | United States
2022
Product Complexity -0.17Rnk 612 / 1033
2021 - 2022
Export Growth (CAGR) 47.9%Rnk 34 / 1218
2022
Share of World Trade 0.0054%Rnk 886 / 1218

About

Overview This page contains the latest trade data of Scrap Nickel. In 2022, Scrap Nickel were the world's 886th most traded product, with a total trade of $1.29B. Between 2021 and 2022 the exports of Scrap Nickel grew by 47.9%, from $873M to $1.29B. Trade in Scrap Nickel represent 0.0054% of total world trade.

Scrap Nickel are a part of Nickel articles. They include Nickel waste or scrap.

Exports In 2022 the top exporters of Scrap Nickel  were United Kingdom ($218M), United States ($130M), Germany ($114M), Japan ($70.5M), and South Korea ($69.9M).

Imports In 2022 the top importers of Scrap Nickel were United States ($399M), Japan ($196M), United Kingdom ($181M), Germany ($111M), and Canada ($63.5M).

Ranking Scrap Nickel ranks 612th in the Product Complexity Index (PCI).

Description -

Latest Trends

Latest Data

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Flow
Y-AXIS SCALE

The following visualization shows the latest trends on Scrap Nickel. 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 (2022)United Kingdom$218M
Top Destination (2022)United States$399M

In 2022 Scrap Nickel were the world's 886th most traded product (out of 1,218).

In 2022, the top exporters of Scrap Nickel were United Kingdom ($218M), United States ($130M), Germany ($114M), Japan ($70.5M), and South Korea ($69.9M).

In 2022, the top importers of Scrap Nickel were United States ($399M), Japan ($196M), United Kingdom ($181M), Germany ($111M), and Canada ($63.5M).

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Exporters of Scrap Nickel (2022)
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Importers of Scrap Nickel (2022)
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Market Dynamics

Color
Top Origin Growth (2021 -  2022)United Kingdom$101M
Top Destination Growth (2021 -  2022)United States$168M

Between 2021 and 2022, the exports of Scrap Nickel grew the fastest in United Kingdom ($101M), Germany ($57.8M), United States ($52.8M), Singapore ($30.2M), and China ($29.8M).

Between 2021 and 2022, the fastest growing importers of Scrap Nickel were United States ($168M), United Kingdom ($94.8M), Japan ($67.6M), Canada ($29.4M), and Germany ($23.1M).

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Exporters of Scrap Nickel (2021 - 2022)

Importers of Scrap Nickel (2021 - 2022)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Scrap Nickel.

In 2022, market concentration measured using Shannon Entropy, was 4.6. This means that most of the exports of Scrap Nickel are explained by 24 countries.

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Value of Exports in Scrap Nickel

Net Trade

TOP NET EXPORTER (2022)Russia$54.3M
TOP NET IMPORTER (2022)United States$269M

This map shows which countries export or import more of Scrap Nickel. Each country is colored based on the difference in exports and imports of Scrap Nickel during 2022.

In 2022, the countries that had a largest trade value in exports than in imports of Scrap Nickel were Russia ($54.3M), South Korea ($52.2M), Singapore ($42.3M), United Kingdom ($36.8M), and Mexico ($32.9M).

In 2022, the countries that had a largest trade value in imports than in exports of Scrap Nickel were United States ($269M), Japan ($125M), Sweden ($36.6M), Australia ($19.4M), and India ($11.9M).

Net Trade (2022)

Country Comparison

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Measure
Ranking

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

Top 10 Exporters Countries of Scrap Nickel by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALGermany+ $3.7M
TOP IMPORT POTENTIALRussia+ $1.23M

Scrap Nickel’s highest export potential is Germany. With an export gap of $3.7M.  Scrap Nickel’s highest import potential is Russia with an import gap of $1.23M.

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 (2022)

Country by Relatedness

The following visualization shows the relatedness of Scrap Nickel to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2022)

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