HS Icon Precious Metal Ore

2616 (Harmonized System 1992 for 4-digit)

World Trade (2018): $6.05B, Rnk 452 / 1225

Top Exporter (2018): $950M, Australia

Top Importer (2018): $2.16B, China

Product Complexity (2018): -1.66, Rnk 962 / 1018

Export Growth (CAGR)(2017 - 2018): -6.12%, Rnk 1149 / 1225

Mean Tariff (2018): 2.22%, Rnk 1212 / 1259

Share of World Trade (2018): 0.033%, Rnk 452 / 1225

Overview:  This page contains the latest trade data of Precious Metal Ore. In 2018, Precious Metal Ore were the world's 452nd most traded product, with a total trade of $6.05B. Between 2017 and 2018 the exports of Precious Metal Ore decreased by -6.12%, from  $6.45B to $6.05B. Trade in Precious Metal Ore represent 0.033% of total world trade.

Exports: In 2018 the top exporters of Precious Metal Ore  were Australia ($950M), Russia ($688M), Mexico ($634M), Peru ($536M), and Bolivia ($526M).

Imports: In 2018 the top importers of Precious Metal Ore were China ($2.16B), Germany ($1.17B), South Korea ($582M), Japan ($364M), and Kazakhstan ($285M).

Tariffs: In 2018 the average tariff for Precious Metal Ore was 2.22%, been the 1212 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Precious Metal Ore are Bahamas (40.2%), Bermuda (25%), Aruba (12%), Angola (10%), and Nepal (9.89%). The countries with the lowest tariffs are Kenya (0%), Mauritius (0%), Rwanda (0%), Tanzania (0%), and Uganda (0%).

Ranking: Precious Metal Ore ranks 962nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Australia, $950M

Top Destination (2018): China, $2.16B

Precious Metal Ore are the world's 452nd most traded product.

In 2018, the top exporters of Precious Metal Ore were Australia ($950M), Russia ($688M), Mexico ($634M), Peru ($536M), and Bolivia ($526M).

In 2018, the top importers of Precious Metal Ore were China ($2.16B), Germany ($1.17B), South Korea ($582M), Japan ($364M), and Kazakhstan ($285M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Indonesia, $202M

Top Destination Growth (2017 - 2018): Germany, $123M

Between 2017 and 2018, the exports of Precious Metal Ore grew the fastest in Indonesia ($202M), Australia ($186M), Russia ($117M), Canada ($84.4M), and Bulgaria ($77.1M).

Between 2017 and 2018, the fastest growing importers of Precious Metal Ore were Germany ($123M), Malaysia ($118M), Netherlands ($103M), South Korea ($57.4M), and Bulgaria ($56.7M).

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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 Precious Metal Ore.

In 2018,  market concentration measured using Shannon Entropy, was 4.15. This means that most of the exports of Precious Metal Ore are explained by 17 countries.

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TOP NET EXPORTER (2018): Australia, $932M

TOP NET IMPORTER (2018): China, $2.16B

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

In 2018, the countries that had a largest trade value in exports than in imports of Precious Metal Ore were Australia ($932M), Russia ($677M), Mexico ($632M), Bolivia ($526M), and Peru ($468M).

In 2018, the countries that had a largest trade value in imports than in exports of Precious Metal Ore were China ($2.16B), Germany ($1.16B), South Korea ($579M), Japan ($363M), and Kazakhstan ($267M).

Trade Forecasts

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This section shows forecasts for total trade for Precious Metal Ore. 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 Precious Metal Ore was 2.22%.  The countries with the highest tariffs for importing Precious Metal Ore were Bahamas (40.2%), Bermuda (25%), Aruba (12%), Angola (10%), and Nepal (9.89%).

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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.