HS Icon Precious Metal Ore

2616 (Harmonized System 1992 for 4-digit)

Overview:  This page contains the latest trade data of Precious Metal Ore. In 2019, Precious Metal Ore were the world's 400th most traded product, with a total trade of $7.25B. Between 2018 and 2019 the exports of Precious Metal Ore grew by 17.5%, from $6.17B to $7.25B. Trade in Precious Metal Ore represent 0.04% of total world trade.

Exports: In 2019 the top exporters of Precious Metal Ore  were Australia ($912M), Russia ($891M), Peru ($641M), Bulgaria ($615M), and Kazakhstan ($595M).

Imports: In 2019 the top importers of Precious Metal Ore were China ($2.65B), Germany ($1.56B), South Korea ($456M), Japan ($365M), and Kazakhstan ($362M).

Tariffs: In 2018 the average tariff for Precious Metal Ore was 2.22%, making it the 1212th 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 925th in the Product Complexity Index (PCI).

Description: Precious-metal ores are used to extract precious metals from the ore. The metals are then refined and prepared for use in jewelry, electronics, and other products.

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): Australia, $912M

Top Destination (2019): China, $2.65B

Precious Metal Ore are the world's 400th most traded product.

In 2019, the top exporters of Precious Metal Ore were Australia ($912M), Russia ($891M), Peru ($641M), Bulgaria ($615M), and Kazakhstan ($595M).

In 2019, the top importers of Precious Metal Ore were China ($2.65B), Germany ($1.56B), South Korea ($456M), Japan ($365M), and Kazakhstan ($362M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Kazakhstan, $576M

Top Destination Growth (2018 - 2019): China, $457M

Between 2018 and 2019, the exports of Precious Metal Ore grew the fastest in Kazakhstan ($576M), Russia ($201M), Bulgaria ($173M), South Africa ($154M), and Peru ($100M).

Between 2018 and 2019, the fastest growing importers of Precious Metal Ore were China ($457M), Germany ($389M), Russia ($347M), Kazakhstan ($77.2M), and Peru ($51.9M).

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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 2019,  market concentration measured using Shannon Entropy, was 4.27. This means that most of the exports of Precious Metal Ore are explained by 19 countries.

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TOP NET EXPORTER (2019): Australia, $905M

TOP NET IMPORTER (2019): China, $2.64B

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 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Precious Metal Ore were Australia ($905M), Mexico ($582M), Russia ($532M), Peru ($522M), and Bulgaria ($464M).

In 2019, the countries that had a largest trade value in imports than in exports of Precious Metal Ore were China ($2.64B), Germany ($1.54B), South Korea ($456M), Japan ($365M), and Philippines ($235M).

Disaggregation

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Value

In 2019, the world most traded Precious Metal Ore, disaggragated by their HS6 level were Precious metal ores and concentrates except... ($4.75B) and Silver ores and concentrates ($2.5B)

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%).

Product Complexity

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Diversification Frontier

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Specialization

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.

Country by Relatedness

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The following visualization shows the relatedness of Precious Metal Ore to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.