HS Icon Copper Ore

2603 (Harmonized System 1992 for 4-digit)

World Trade (2019): $60B, Rnk 46 / 1217

Top Exporter (2019): $18.4B, Chile

Top Importer (2019): $31.3B, China

Product Complexity (2019): -1.95, Rnk 934 / 961

Export Growth (CAGR)(2018 - 2019): -6.94%, Rnk 848 / 1217

Mean Tariff (2018): 2.23%, Rnk 1209 / 1259

Share of World Trade (2019): 0.33%, Rnk 46 / 1217

Overview:  This page contains the latest trade data of Copper Ore. In 2019, Copper Ore were the world's 46th most traded product, with a total trade of $60B. Between 2018 and 2019 the exports of Copper Ore decreased by -6.94%, from  $64.4B to $60B. Trade in Copper Ore represent 0.33% of total world trade.

Exports: In 2019 the top exporters of Copper Ore  were Chile ($18.4B), Peru ($12.2B), Australia ($4.61B), Canada ($2.81B), and Mexico ($2.5B).

Imports: In 2019 the top importers of Copper Ore were China ($31.3B), Japan ($7.79B), South Korea ($3.94B), Bulgaria ($1.97B), and India ($1.84B).

Tariffs: In 2018 the average tariff for Copper Ore was 2.23%, making it the 1209th lowest tariff using the HS4 product classification.

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

Ranking: Copper Ore ranks 934th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2019): Chile, $18.4B

Top Destination (2019): China, $31.3B

Copper Ore are the world's 46th most traded product.

In 2019, the top exporters of Copper Ore were Chile ($18.4B), Peru ($12.2B), Australia ($4.61B), Canada ($2.81B), and Mexico ($2.5B).

In 2019, the top importers of Copper Ore were China ($31.3B), Japan ($7.79B), South Korea ($3.94B), Bulgaria ($1.97B), and India ($1.84B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): United States, $539M

Top Destination Growth (2018 - 2019): Mexico, $671M

Between 2018 and 2019, the exports of Copper Ore grew the fastest in United States ($539M), Panama ($538M), Chinese Taipei ($395M), India ($269M), and Armenia ($179M).

Between 2018 and 2019, the fastest growing importers of Copper Ore were Mexico ($671M), Chinese Taipei ($429M), Georgia ($228M), Serbia ($160M), and Canada ($147M).

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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 Copper Ore.

In 2019,  market concentration measured using Shannon Entropy, was 3.65. This means that most of the exports of Copper Ore are explained by 12 countries.

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TOP NET EXPORTER (2019): Chile, $18.4B

TOP NET IMPORTER (2019): China, $31.3B

This map shows which countries export or import more of Copper Ore. Each country is colored based on the difference in exports and imports of Copper Ore during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Copper Ore were Chile ($18.4B), Peru ($11.9B), Australia ($4.53B), Canada ($2.34B), and United States ($2.12B).

In 2019, the countries that had a largest trade value in imports than in exports of Copper Ore were China ($31.3B), Japan ($7.79B), South Korea ($3.69B), Germany ($1.81B), and Bulgaria ($1.64B).

Disaggregation

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Value

In 2019, the world most traded Copper Ore, disaggragated by their HS6 level were Copper ores and concentrates ($60B)

Import Tariffs

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In 2018, the average tariff for importing Copper Ore was 2.23%.  The countries with the highest tariffs for importing Copper Ore were Bahamas (40.2%), Bermuda (25%), Aruba (12%), Panama (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.