Platinum7110 (Harmonized System 1992 for 4-digit)
2019 World Trade: $40.7B, Rnk 91 / 1217
2019 Top Exporter | Top Importer: $9.62B | $6.83B, South Africa | United Kingdom
2019 Product Complexity: 0.58, Rnk 313 / 961
2018 - 2019 Export Growth (CAGR): 26.9%, Rnk 20 / 1217
2018 Mean Tariff: 4.99%, Rnk 820 / 1259
2019 Share of World Trade: 0.22%, Rnk 91 / 1217
Overview This page contains the latest trade data of Platinum. In 2019, Platinum were the world's 91st most traded product, with a total trade of $40.7B. Between 2018 and 2019 the exports of Platinum grew by 26.9%, from $32.1B to $40.7B. Trade in Platinum represent 0.22% of total world trade.
Exports In 2019 the top exporters of Platinum were South Africa ($9.62B), Russia ($6.53B), United Kingdom ($5.13B), Germany ($4.03B), and United States ($3.95B).
Imports In 2019 the top importers of Platinum were United Kingdom ($6.83B), United States ($6.69B), Germany ($6.01B), Japan ($4.22B), and China ($2.78B).
Tariffs In 2018 the average tariff for Platinum was 4.99%, making it the 820th lowest tariff using the HS4 product classification.
The countries with the highest import tariffs for Platinum are Angola (50%), Ethiopia (34.7%), Cameroon (29.4%), Gabon (29.4%), and Chad (29.4%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), United Arab Emirates (0%), Hong Kong (0%), and Japan (0%).
Ranking Platinum ranks 313th in the Product Complexity Index (PCI).
Description Platinum is a precious metal that is used in the production of jewelry, electrical contacts, and other products. Platinum is also used in the production of catalytic converters for automobiles.
Trade By Country
Top Origin (2019): South Africa, $9.62B
Top Destination (2019): United Kingdom, $6.83B
Platinum are the world's 91st most traded product.
In 2019, the top exporters of Platinum were South Africa ($9.62B), Russia ($6.53B), United Kingdom ($5.13B), Germany ($4.03B), and United States ($3.95B).
In 2019, the top importers of Platinum were United Kingdom ($6.83B), United States ($6.69B), Germany ($6.01B), Japan ($4.22B), and China ($2.78B).
Trade by country
Top Origin Growth (2018 - 2019): Russia, $2.29B
Top Destination Growth (2018 - 2019): United Kingdom, $2.76B
Between 2018 and 2019, the exports of Platinum grew the fastest in Russia ($2.29B), Belgium ($1.84B), United States ($946M), Germany ($897M), and Italy ($773M).
Between 2018 and 2019, the fastest growing importers of Platinum were United Kingdom ($2.76B), Germany ($1.12B), China ($884M), Switzerland ($825M), and United States ($765M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Platinum.
In 2019, market concentration measured using Shannon Entropy, was 3.39. This means that most of the exports of Platinum are explained by 10 countries.
TOP NET EXPORTER (2019): South Africa, $9.48B
TOP NET IMPORTER (2019): Japan, $3.04B
This map shows which countries export or import more of Platinum. Each country is colored based on the difference in exports and imports of Platinum during 2019.
In 2019, the countries that had a largest trade value in exports than in imports of Platinum were South Africa ($9.48B), Russia ($6.41B), Belgium ($2.57B), Italy ($959M), and Norway ($419M).
In 2019, the countries that had a largest trade value in imports than in exports of Platinum were Japan ($3.04B), United States ($2.74B), China ($2.63B), Hong Kong ($2.02B), and Germany ($1.98B).
In 2019, the world most traded Platinum, disaggragated by their HS6 level were Palladium unwrought or in powder form ($19.3B), Platinum unwrought or in powder form ($6.7B), Rhodium unwrought or in powder form ($5.34B), Platinum in semi-manufactured forms ($5.27B), and Palladium in semi-manufactured forms ($2.8B)
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.