HS Icon Platinum

7110 (Harmonized System 1992 for 4-digit)

World Trade (2019): $40.7B, Rnk 91 / 1217

Top Exporter (2019): $9.62B, South Africa

Top Importer (2019): $6.83B, United Kingdom

Product Complexity (2019): 0.58, Rnk 313 / 961

Export Growth (CAGR)(2018 - 2019): 26.9%, Rnk 20 / 1217

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

Share of World Trade (2019): 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.

Exporters and Importers

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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).

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Market Dynamics

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Trade by country

Value

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).

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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 2019,  market concentration measured using Shannon Entropy, was 3.39. This means that most of the exports of Platinum are explained by 10 countries.

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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).

Disaggregation

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Value

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)

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.