HS Icon Platinum

7110 (Harmonized System 1992 for 4-digit)

World Trade (2018): $32B, Rnk 117 / 1225

Top Exporter (2018): $9.14B, South Africa

Top Importer (2018): $5.93B, United States

Product Complexity (2018): 0.024, Rnk 537 / 1018

Export Growth (CAGR)(2017 - 2018): 16.9%, Rnk 439 / 1225

Mean Tariff (2018): 4.99%, Rnk 820 / 1259

Share of World Trade (2018): 0.17%, Rnk 117 / 1225

Overview:  This page contains the latest trade data of Platinum. In 2018, Platinum were the world's 117th most traded product, with a total trade of $32B. Between 2017 and 2018 the exports of Platinum grew by 16.9%, from  $27.4B to $32B. Trade in Platinum represent 0.17% of total world trade.

Exports: In 2018 the top exporters of Platinum  were South Africa ($9.14B), United Kingdom ($4.72B), Russia ($4.23B), Germany ($3.13B), and United States ($3B).

Imports: In 2018 the top importers of Platinum were United States ($5.93B), Germany ($4.9B), United Kingdom ($4.05B), Japan ($3.77B), and Hong Kong ($2.29B).

Tariffs: In 2018 the average tariff for Platinum was 4.99%, been the 820 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 537th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): South Africa, $9.14B

Top Destination (2018): United States, $5.93B

Platinum are the world's 117th most traded product.

In 2018, the top exporters of Platinum were South Africa ($9.14B), United Kingdom ($4.72B), Russia ($4.23B), Germany ($3.13B), and United States ($3B).

In 2018, the top importers of Platinum were United States ($5.93B), Germany ($4.9B), United Kingdom ($4.05B), Japan ($3.77B), and Hong Kong ($2.29B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $1.32B

Top Destination Growth (2017 - 2018): United States, $1.42B

Between 2017 and 2018, the exports of Platinum grew the fastest in United States ($1.32B), Germany ($1.01B), Italy ($612M), United Kingdom ($571M), and Belgium-Luxembourg ($466M).

Between 2017 and 2018, the fastest growing importers of Platinum were United States ($1.42B), Germany ($958M), Switzerland ($485M), United Kingdom ($472M), and Brazil ($390M).

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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 Platinum.

In 2018,  market concentration measured using Shannon Entropy, was 3.34. This means that most of the exports of Platinum are explained by 10 countries.

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TOP NET EXPORTER (2018): South Africa, $8.93B

TOP NET IMPORTER (2018): United States, $2.92B

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 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Platinum were South Africa ($8.93B), Russia ($4.21B), Belgium-Luxembourg ($826M), United Kingdom ($663M), and Italy ($543M).

In 2018, the countries that had a largest trade value in imports than in exports of Platinum were United States ($2.92B), Japan ($2.65B), Hong Kong ($1.94B), Germany ($1.76B), and China ($1.73B).

Trade Forecasts

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This section shows forecasts for total trade for Platinum. 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 Platinum was 4.99%.  The countries with the highest tariffs for importing Platinum were Angola (50%), Ethiopia (34.7%), Cameroon (29.4%), Gabon (29.4%), and Chad (29.4%).

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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.