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V (Harmonized System 1992 for Section)

2022
World Trade $4.3TRnk 2 / 21
2022
Top Exporter | Top Importer $427B | $623BUnited States | China
2022
Product Complexity -2.43Rnk 21 / 21
2021 - 2022
Export Growth (CAGR) 45.3%Rnk 1 / 21
2022
Share of World Trade 18.1%Rnk 2 / 21

About

Overview This page contains the latest trade data of Mineral Products. In 2022, Mineral Products were the world's 2nd most traded product, with a total trade of $4.3T. Between 2021 and 2022 the exports of Mineral Products grew by 45.3%, from $2.96T to $4.3T. Trade in Mineral Products represent 18.1% of total world trade.

Mineral Products include Mineral fuels, mineral oils and products of their distillation, Ores, slag and ash, and Salt, sulphur, cement, lime, stone, & plaster.

Exports In 2022 the top exporters of Mineral Products  were United States ($427B), Russia ($319B), Australia ($295B), Saudi Arabia ($290B), and Norway ($227B).

Imports In 2022 the top importers of Mineral Products were China ($623B), United States ($329B), India ($291B), Japan ($258B), and South Korea ($212B).

Ranking Mineral Products ranks 21st in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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Y-AXIS SCALE

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

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

Explore Latest Trends

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2022)United States$427B
Top Destination (2022)China$623B

In 2022 Mineral Products were the world's 2nd most traded product (out of 21).

In 2022, the top exporters of Mineral Products were United States ($427B), Russia ($319B), Australia ($295B), Saudi Arabia ($290B), and Norway ($227B).

In 2022, the top importers of Mineral Products were China ($623B), United States ($329B), India ($291B), Japan ($258B), and South Korea ($212B).

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Exporters of Mineral Products (2022)
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Importers of Mineral Products (2022)
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Market Dynamics

Color
Top Origin Growth (2021 -  2022)United States$166B
Top Destination Growth (2021 -  2022)India$110B

Between 2021 and 2022, the exports of Mineral Products grew the fastest in United States ($166B), Norway ($107B), Saudi Arabia ($104B), United Arab Emirates ($67.3B), and Canada ($61.1B).

Between 2021 and 2022, the fastest growing importers of Mineral Products were India ($110B), United States ($108B), Germany ($102B), Japan ($84.3B), and France ($75.8B).

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Exporters of Mineral Products (2021 - 2022)

Importers of Mineral Products (2021 - 2022)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Mineral Products.

In 2022, market concentration measured using Shannon Entropy, was 5.39. This means that most of the exports of Mineral Products are explained by 42 countries.

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Value of Exports in Mineral Products

Net Trade

TOP NET EXPORTER (2022)Russia$315B
TOP NET IMPORTER (2022)China$551B

This map shows which countries export or import more of Mineral Products. Each country is colored based on the difference in exports and imports of Mineral Products during 2022.

In 2022, the countries that had a largest trade value in exports than in imports of Mineral Products were Russia ($315B), Saudi Arabia ($281B), Australia ($248B), Norway ($214B), and United Arab Emirates ($158B).

In 2022, the countries that had a largest trade value in imports than in exports of Mineral Products were China ($551B), Japan ($238B), India ($196B), Germany ($146B), and South Korea ($145B).

Net Trade (2022)

Disaggregation

Value
Disaggregation

In 2022, the world most traded Mineral Products, disaggragated by their HS6 level were Mineral fuels, mineral oils and products... ($3.88T), Ores, slag and ash ($339B), and Salt, sulphur, cement, lime, stone, &... ($76B)

HS6 Disaggregation for Mineral Products (2022)
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Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Mineral Products.
It is possible to select the main countries that export or import Mineral Products in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Mineral Products by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALChina+ $4.08B
TOP IMPORT POTENTIALUnited States+ $3.69B

Mineral Products’s highest export potential is China. With an export gap of $4.08B.  Mineral Products’s highest import potential is United States with an import gap of $3.69B.

See methodology.

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Product Complexity

Diversification Frontier

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.

Relatedness vs Country Complexity (2022)

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