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2023
Exports $50MWorld Rnk 9 / 97
Flag Rnk 831 / 1217
2023
Destination $1.14M Singapore
2022 - 2023
FASTEST GROWING MARKET $1.14MChina
2023
PRODUCT COMPLEXITY IN Magnesium0.96Rnk 189 / 1025
2023
Imports $598MWorld Rnk 1 / 176
Flag Rnk 479 / 1215
2023
Origin $23.5M Israel
2022 - 2023
FASTEST GROWING ORIGIN $23.5MIsrael
2023
ECONOMIC COMPLEXITY of United States1.5Rnk 10 / 132

About

Exports In 2023, United States exported $50M in Magnesium, making it the 9th largest exporter of Magnesium in the world. At the same year, Magnesium was the 831st most exported product in United States. The main destination of Magnesium exports from United States are: Singapore ($18.3M), United Kingdom ($9.88M), Canada ($9M), China ($1.79M), and Mexico ($1.27M).

The fastest growing export markets for Magnesium of United States between 2022 and 2023 were China ($1.14M), Singapore ($940k), and Saudi Arabia ($902k).

Imports In 2023, United States imported $598M in Magnesium, becoming the 1st largest importer of Magnesium in the world. At the same year, Magnesium was the 479th most imported product in United States. United States imports Magnesium primarily from: Israel ($181M), Turkey ($101M), Canada ($69.6M), Czechia ($51.9M), and South Korea ($32.6M).

The fastest growing import markets in Magnesium for United States between 2022 and 2023 were Israel ($23.5M), Brazil ($11.5M), and Malaysia ($2.74M).

COMPANIES In 2023, leading companies such as Coaster Fine Furniture (1), Riviana Foods (1), and Tmall (1) were at the forefront of shipping Magnesium to the United States.

Latest Trends

November 2024

About

Overview In November 2024 United States' Magnesium exports accounted up to $3.84M and imports accounted up to $29.7M, resulting in a negative trade balance of $25.9M. Between November 2023 and November 2024 the exports of United States'   Magnesium have increased by $918k (31.4%) from $2.92M to $3.84M, while imports decreased by $-2.64M (-8.16%) from $32.4M to $29.7M.

Destinations In November 2024, Magnesium were exported mostly to Israel ($1.08M), South Korea ($471k), Canada ($454k), Mexico ($304k), and Ireland ($261k), and were imported mostly from Israel ($10.3M), South Korea ($4.51M), China ($2.27M), United Kingdom ($2.06M), and Canada ($2M).

Growth In November 2024, the increase in Magnesium's year-by-year exports was explained primarily by an increase in exports to Singapore ($1.23M or 261%), China ($518k or 316%), and France ($293k or 153%). In November 2024, the decrease in Magnesium's year-by-year imports was explained primarily by a decrease in imports from Russia ($-3.64M or -100%), Canada ($-2.33M or -34.2%), and Hungary ($-970k or -57.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$918k(31.4%)
IMPORT GROWTH (November 2023 - November 2024)$-2.64M(-8.16%)
MAIN EXPORTER (November 2024)Colorado$1.85M
MAIN DESTINATION (November 2024)Israel$1.08M

This section shows Magnesium's exports and imports data at subnational level for United States. 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
EXPORTS (2023)$50M
IMPORTS (2023)$598M
NET TRADE (2023)-$548M

In 2023, United States exported $50M in Magnesium. The main destinations of United States exports on Magnesium were Singapore ($18.3M), United Kingdom ($9.88M), Canada ($9M), China ($1.79M), and Mexico ($1.27M).

In 2023, United States imported $598M in Magnesium, mainly from Israel ($181M), Turkey ($101M), Canada ($69.6M), Czechia ($51.9M), and South Korea ($32.6M).

Explore Visualizations

Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Magnesium EXPORT MARKETS FOR United States WERE (2022 - 2023):
China$1.14M (174%)
Singapore$940k (5.41%)
Saudi Arabia$902k (278%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Magnesium BY United States WERE (2022 - 2023):
Canada-$11.4M (-55.8%)
Mexico-$3.17M (-71.5%)
United Kingdom-$2.82M (-22.2%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, United States's main exporting competitors in Magnesium were:
China $1.5B
Israel $211M
Turkey $116M
In 2023, United States's main importing competitors in Magnesium were:
Canada $253M
Germany $203M

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Trade Value of Magnesium by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALCanada+ $5.91M
TOP IMPORT POTENTIALChina+ $48.5M

Magnesium’s highest export potential is Canada. With an export gap of $5.91M.   Magnesium’s highest import potential is China with an import gap of $48.5M.

See methodology.

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