HS Icon Refined Copper

7403 (Harmonized System 1992 for 4-digit)

Overview:  This page contains the latest trade data of Refined Copper. In 2019, Refined Copper were the world's 45th most traded product, with a total trade of $60.9B. Between 2018 and 2019 the exports of Refined Copper decreased by -9.86%, from $67.6B to $60.9B. Trade in Refined Copper represent 0.34% of total world trade.

Exports: In 2019 the top exporters of Refined Copper  were Chile ($13.4B), Russia ($4.31B), Democratic Republic of the Congo ($4.06B), Japan ($3.37B), and Kazakhstan ($2.7B).

Imports: In 2019 the top importers of Refined Copper were China ($20.5B), United States ($4.09B), Germany ($3.37B), Italy ($3.36B), and Chinese Taipei ($2.9B).

Tariffs: In 2018 the average tariff for Refined Copper was 2.2%, making it the 1214th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Refined Copper are Bahamas (40.2%), Uzbekistan (28.7%), Bermuda (21.4%), Zambia (13.6%), and Algeria (12.2%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Refined Copper ranks 891st in the Product Complexity Index (PCI).

Description: Copper is used in the production of electrical and electronic equipment, as well as other products. Copper alloys are made from copper and other metals.

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): Chile, $13.4B

Top Destination (2019): China, $20.5B

Refined Copper are the world's 45th most traded product.

In 2019, the top exporters of Refined Copper were Chile ($13.4B), Russia ($4.31B), Democratic Republic of the Congo ($4.06B), Japan ($3.37B), and Kazakhstan ($2.7B).

In 2019, the top importers of Refined Copper were China ($20.5B), United States ($4.09B), Germany ($3.37B), Italy ($3.36B), and Chinese Taipei ($2.9B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Poland, $401M

Top Destination Growth (2018 - 2019): India, $263M

Between 2018 and 2019, the exports of Refined Copper grew the fastest in Poland ($401M), Democratic Republic of the Congo ($309M), Australia ($292M), Republic of the Congo ($223M), and Pakistan ($151M).

Between 2018 and 2019, the fastest growing importers of Refined Copper were India ($263M), Netherlands ($195M), Mexico ($110M), South Korea ($104M), and Austria ($102M).

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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 Refined Copper.

In 2019,  market concentration measured using Shannon Entropy, was 4.65. This means that most of the exports of Refined Copper are explained by 25 countries.

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TOP NET EXPORTER (2019): Chile, $13.4B

TOP NET IMPORTER (2019): China, $18.6B

This map shows which countries export or import more of Refined Copper. Each country is colored based on the difference in exports and imports of Refined Copper during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Refined Copper were Chile ($13.4B), Russia ($4.27B), Democratic Republic of the Congo ($4.06B), Japan ($3.25B), and Kazakhstan ($2.7B).

In 2019, the countries that had a largest trade value in imports than in exports of Refined Copper were China ($18.6B), Italy ($3.13B), United States ($2.99B), United Arab Emirates ($2.67B), and Chinese Taipei ($2.26B).

Disaggregation

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Value

In 2019, the world most traded Refined Copper, disaggragated by their HS6 level were Copper cathodes and sections of cathodes... ($56.4B), Refined copper products, unwrought, nes ($1.78B), Copper-zinc base alloys, unwrought ($904M), Billets, copper, unwrought ($819M), and Copper alloys, unwrought (other than master... ($528M)

Import Tariffs

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In 2018, the average tariff for importing Refined Copper was 2.2%. The countries with the highest tariffs for importing Refined Copper were Bahamas (40.2%), Uzbekistan (28.7%), Bermuda (21.4%), Zambia (13.6%), and Algeria (12.2%).

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 Refined Copper to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.