HS Icon Rare-Earth Metal Compounds

2846 (Harmonized System 1992 for 4-digit)

Overview:  This page contains the latest trade data of Rare-Earth Metal Compounds. In 2019, Rare-Earth Metal Compounds were the world's 840th most traded product, with a total trade of $1.34B. Between 2018 and 2019 the exports of Rare-Earth Metal Compounds grew by 0.22%, from $1.33B to $1.34B. Trade in Rare-Earth Metal Compounds represent 0.0074% of total world trade.

Exports: In 2019 the top exporters of Rare-Earth Metal Compounds  were China ($332M), Malaysia ($222M), Japan ($204M), Myanmar ($146M), and United States ($82M).

Imports: In 2019 the top importers of Rare-Earth Metal Compounds were China ($320M), Japan ($246M), Vietnam ($148M), United States ($141M), and South Korea ($66.1M).

Tariffs: In 2018 the average tariff for Rare-Earth Metal Compounds was 3.26%, making it the 1112th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Rare-Earth Metal Compounds are Bahamas (40.2%), Bermuda (25%), Maldives (14.7%), Algeria (12.2%), and Aruba (12%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Rare-Earth Metal Compounds ranks 436th in the Product Complexity Index (PCI).

Description: Rare-earth metals are used in the production of various types of magnets, such as neodymium-iron-boron magnets. Yttrium is often used in the production of phosphors for televisions and fluorescent lamps. Scandium is used in the production of low-temperature alloys.

Historical Data

#permalink to section

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2019): China, $332M

Top Destination (2019): China, $320M

Rare-Earth Metal Compounds are the world's 840th most traded product.

In 2019, the top exporters of Rare-Earth Metal Compounds were China ($332M), Malaysia ($222M), Japan ($204M), Myanmar ($146M), and United States ($82M).

In 2019, the top importers of Rare-Earth Metal Compounds were China ($320M), Japan ($246M), Vietnam ($148M), United States ($141M), and South Korea ($66.1M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2018 -  2019): Myanmar, $82.2M

Top Destination Growth (2018 - 2019): China, $75.7M

Between 2018 and 2019, the exports of Rare-Earth Metal Compounds grew the fastest in Myanmar ($82.2M), Chinese Taipei ($18.4M), Finland ($9.15M), Vietnam ($9.02M), and Turkey ($6.41M).

Between 2018 and 2019, the fastest growing importers of Rare-Earth Metal Compounds were China ($75.7M), Turkey ($8.92M), Hong Kong ($7.58M), Uzbekistan ($6.43M), and Thailand ($4.58M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Rare-Earth Metal Compounds.

In 2019,  market concentration measured using Shannon Entropy, was 3.53. This means that most of the exports of Rare-Earth Metal Compounds are explained by 11 countries.

Explore Visualizations

TOP NET EXPORTER (2019): Malaysia, $211M

TOP NET IMPORTER (2019): Vietnam, $136M

This map shows which countries export or import more of Rare-Earth Metal Compounds. Each country is colored based on the difference in exports and imports of Rare-Earth Metal Compounds during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Rare-Earth Metal Compounds were Malaysia ($211M), Myanmar ($146M), France ($43.7M), Norway ($24M), and India ($20.1M).

In 2019, the countries that had a largest trade value in imports than in exports of Rare-Earth Metal Compounds were Vietnam ($136M), United States ($58.8M), South Korea ($48.2M), Thailand ($45.1M), and Japan ($42.9M).

Disaggregation

#permalink to section
Value

In 2019, the world most traded Rare-Earth Metal Compounds, disaggragated by their HS6 level were Compounds, mixes of rare-earths, yttrium, scandium... ($1.13B) and Cerium compounds ($203M)

Import Tariffs

#permalink to section

In 2018, the average tariff for importing Rare-Earth Metal Compounds was 3.26%. The countries with the highest tariffs for importing Rare-Earth Metal Compounds were Bahamas (40.2%), Bermuda (25%), Maldives (14.7%), Algeria (12.2%), and Aruba (12%).

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
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

#permalink to section

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