HS Icon Raw Nickel

7502 (Harmonized System 1992 for 4-digit)

World Trade (2018): $14B, Rnk 259 / 1225

Top Exporter (2018): $2.46B, Australia

Top Importer (2018): $2.39B, China

Product Complexity (2018): -0.59, Rnk 724 / 1018

Export Growth (CAGR)(2017 - 2018): 35.2%, Rnk 134 / 1225

Mean Tariff (2018): 1.98%, Rnk 1238 / 1259

Share of World Trade (2018): 0.076%, Rnk 259 / 1225

Overview: In 2018, Raw Nickel were the world's 259th most traded product, with a total trade of $14B. Between 2017 and 2018 the exports of Raw Nickel grew by 35.2%, from  $10.4B to $14B. Trade in Raw Nickel represent 0.076% of total world trade.

Exports: In 2018 the top exporters of Raw Nickel  were Australia ($2.46B), Russia ($2.3B), Canada ($1.68B), Norway ($1.45B), and Malaysia ($1.16B).

Imports: In 2018 the top importers of Raw Nickel were China ($2.39B), Netherlands ($1.97B), United States ($1.82B), Germany ($1.15B), and Switzerland ($827M).

Tariffs: In 2018 the average tariff for Raw Nickel was 1.98%, been the 1238 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Raw Nickel are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Algeria (12.2%), and Aruba (12%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Raw Nickel ranks 724th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Australia, $2.46B

Top Destination (2018): China, $2.39B

Raw Nickel are the world's 259th most traded product.

In 2018, the top exporters of Raw Nickel were Australia ($2.46B), Russia ($2.3B), Canada ($1.68B), Norway ($1.45B), and Malaysia ($1.16B).

In 2018, the top importers of Raw Nickel were China ($2.39B), Netherlands ($1.97B), United States ($1.82B), Germany ($1.15B), and Switzerland ($827M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Australia, $1.26B

Top Destination Growth (2017 - 2018): Netherlands, $1.3B

Between 2017 and 2018, the exports of Raw Nickel grew the fastest in Australia ($1.26B), Malaysia ($737M), Norway ($453M), Chinese Taipei ($418M), and Canada ($179M).

Between 2017 and 2018, the fastest growing importers of Raw Nickel were Netherlands ($1.3B), Switzerland ($796M), Germany ($471M), United States ($462M), and Japan ($315M).

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Market Concentration

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Cumulative market share

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

In 2018,  market concentration measured using Shannon Entropy, was 3.79. This means that most of the exports of Raw Nickel are explained by 13 countries.

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TOP NET EXPORTER (2018): Australia, $2.41B

TOP NET IMPORTER (2018): China, $2.21B

This map shows which countries export or import more of Raw Nickel. Each country is colored based on the difference in exports and imports of Raw Nickel during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Raw Nickel were Australia ($2.41B), Russia ($2.28B), Canada ($1.65B), Norway ($1.45B), and Malaysia ($1.11B).

In 2018, the countries that had a largest trade value in imports than in exports of Raw Nickel were China ($2.21B), United States ($1.58B), Netherlands ($1.29B), Germany ($841M), and Switzerland ($789M).

Trade Forecasts

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This section shows forecasts for total trade for Raw Nickel. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Import Tariffs

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In 2018, the average tariff for importing Raw Nickel was 1.98%.  The countries with the highest tariffs for importing Raw Nickel were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Algeria (12.2%), and Aruba (12%).

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Product Complexity

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Diversification Frontier

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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.