2023
Exports
$9.5MWorld Rnk 25 / 97
Flag Rnk 511 / 1200
2023
PRODUCT COMPLEXITY IN Magnesium
0.96Rnk 189 / 1025
2023
Imports
$36.9MWorld Rnk 20 / 176
Flag Rnk 531 / 1186
2023
ECONOMIC COMPLEXITY of Russia
0.3Rnk 50 / 132

About

Exports In 2023, Russia exported $9.5M in Magnesium, making it the 25th largest exporter of Magnesium in the world. At the same year, Magnesium was the 511th most exported product in Russia. The main destination of Magnesium exports from Russia are: Kazakhstan ($3.1M), India ($1.6M), Turkey ($1.44M), Brazil ($1.08M), and Germany ($907k).

The fastest growing export markets for Magnesium of Russia between 2022 and 2023 were India ($1.6M), Brazil ($638k), and Uzbekistan ($184k).

Imports In 2023, Russia imported $36.9M in Magnesium, becoming the 20th largest importer of Magnesium in the world. At the same year, Magnesium was the 531st most imported product in Russia. Russia imports Magnesium primarily from: China ($34.9M), Turkey ($1.77M), Bulgaria ($110k), Italy ($90.5k), and Kazakhstan ($8.76k).

The fastest growing import markets in Magnesium for Russia between 2022 and 2023 were Italy ($28.6k), Kazakhstan ($3.51k), and Serbia ($712).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Magnesium. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$9.5M
IMPORTS (2023)$36.9M
NET TRADE (2023)-$27.4M

In 2023, Russia exported $9.5M in Magnesium. The main destinations of Russia exports on Magnesium were Kazakhstan ($3.1M), India ($1.6M), Turkey ($1.44M), Brazil ($1.08M), and Germany ($907k).

In 2023, Russia imported $36.9M in Magnesium, mainly from China ($34.9M), Turkey ($1.77M), Bulgaria ($110k), Italy ($90.5k), and Kazakhstan ($8.76k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Magnesium EXPORT MARKETS FOR Russia WERE (2022 - 2023):
India$1.6M (1%)
Brazil$638k (145%)
Uzbekistan$184k (947%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Magnesium BY Russia WERE (2022 - 2023):
United States-$25.3M (-97.7%)
China-$2.85M (-100%)
Slovakia-$2.49M (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Russia's main exporting competitors in Magnesium were:
In 2023, Russia's main importing competitors in Magnesium were:

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Trade Value of Magnesium by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $1.23M
TOP IMPORT POTENTIALChina+ $15.8M

Magnesium’s highest export potential is Germany. With an export gap of $1.23M.   Magnesium’s highest import potential is China with an import gap of $15.8M.

See methodology.

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