Magnesium in United Kingdom | The Observatory of Economic Complexity

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Exports In 2022, United Kingdom exported $52.7M in Magnesium, making it the 12th largest exporter of Magnesium in the world. At the same year, Magnesium was the 528th most exported product in United Kingdom. The main destination of Magnesium exports from United Kingdom are: United States ($27.3M), Japan ($11.4M), Italy ($2.49M), India ($2.46M), and Canada ($1.33M).

The fastest growing export markets for Magnesium of United Kingdom between 2021 and 2022 were Japan ($6.66M), United States ($4.79M), and Brazil ($1.2M).

Imports In 2022, United Kingdom imported $50.2M in Magnesium, becoming the 23rd largest importer of Magnesium in the world. At the same year, Magnesium was the 743rd most imported product in United Kingdom. United Kingdom imports Magnesium primarily from: China ($22.1M), United States ($7.26M), Netherlands ($6.11M), Austria ($5.52M), and Turkey ($1.85M).

The fastest growing import markets in Magnesium for United Kingdom between 2021 and 2022 were China ($8.28M), Netherlands ($3.47M), and United States ($1.08M).

Latest Trends

March 2024

About

Overview In March 2024 United Kingdom's Magnesium exports accounted up to £2.37M and imports accounted up to £2.94M, resulting in a negative trade balance of £571k. Between March 2023 and March 2024 the exports of United Kingdom's Magnesium have decreased by £-582k (-19.7%) from £2.95M to £2.37M, while imports increased by £122k (4.32%) from £2.82M to £2.94M.

Destinations In March 2024, Magnesium were exported mostly to United States (£940k), Japan (£726k), Italy (£326k), Germany (£146k), and Slovakia (£72.5k), and were imported mostly from China (£1.37M), Austria (£801k), Netherlands (£172k), United States (£169k), and Germany (£150k).

Growth In March 2024, the decrease in Magnesium's year-by-year exports was explained primarily by a decrease in exports to United States (£-676k or -49.6%), India (£-188k or -97%), and Italy (£-138k or -55.4%). In March 2024, the increase in Magnesium's year-by-year imports was explained primarily by an increase in imports from United States (£395k or 88.7%) and Austria (£279k or 104%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)£-582k(-19.7%)

IMPORT GROWTH (March 2023 - March 2024)£122k(4.32%)

MAIN EXPORTER (March 2024)Liverpool£1.13M

MAIN DESTINATION (March 2024)United States£940k

This section shows Magnesium's exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Magnesium over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$52.7M

IMPORTS (2022)$50.2M

NET TRADE (2022)$2.5M

In 2022, United Kingdom exported $52.7M in Magnesium. The main destinations of United Kingdom exports on Magnesium were United States ($27.3M), Japan ($11.4M), Italy ($2.49M), India ($2.46M), and Canada ($1.33M).

In 2022, United Kingdom imported $50.2M in Magnesium, mainly from China ($22.1M), United States ($7.26M), Netherlands ($6.11M), Austria ($5.52M), and Turkey ($1.85M).

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