Overview: In 2018, Mineral Products were the world's 2nd most traded product, with a total trade of $2.64T. Between 2017 and 2018 the exports of Mineral Products grew by 27.8%, from $2.06T to $2.64T. Trade in Mineral Products represent 14.4% of total world trade.
Exports: In 2018 the top exporters of Mineral Products were Russia ($269B), United States ($204B), Saudi Arabia ($195B), Australia ($144B), and Canada ($107B).
Imports: In 2018 the top importers of Mineral Products were China ($427B), United States ($219B), India ($163B), Japan ($154B), and South Korea ($150B).
Tariffs: In 2018 the average tariff for Mineral Products was 3.41%, been the 21 lowest tariff using the Section product classification.
The countries with the highest import tariffs for Mineral Products are Bahamas (24.4%), Bermuda (22.4%), Austria (17.8%), Uzbekistan (13.3%), and Nepal (11.1%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), Norway (0%), and Mauritius (0.04%).
Ranking: Mineral Products ranks 21st in the Product Complexity Index (PCI).