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850519 (Harmonized System 1992 for 6-digit)

2023
World Trade $1.61BRnk 1621 / 4644
2023
Top Exporter | Top Importer $861M | $165MChina | Germany
2023
Product Complexity 1.34Rnk 294 / 4656
2022 - 2023
Export Growth (CAGR) -9.65%Rnk 2661 / 4644
2023
Share of World Trade 0.0071%Rnk 1621 / 4644

About

Overview This page contains the latest trade data of Permanent magnets & articles intended as magnets, nes. In 2023, Permanent magnets & articles intended as magnets, nes were the world's 1621st most traded product, with a total trade of $1.61B. Between 2022 and 2023 the exports of Permanent magnets & articles intended as magnets, nes decreased by -9.65%, from $1.78B to $1.61B. Trade in Permanent magnets & articles intended as magnets, nes represent 0.0071% of total world trade.

Permanent magnets & articles intended as magnets, nes are a part of Electromagnets.

Exports In 2023 the top exporters of Permanent magnets & articles intended as magnets, nes  were China ($861M), Germany ($107M), Japan ($77.5M), South Korea ($76.2M), and United States ($45.8M).

Imports In 2023 the top importers of Permanent magnets & articles intended as magnets, nes were Germany ($165M), Thailand ($114M), United States ($113M), Mexico ($89.8M), and China ($83.2M).

Ranking Permanent magnets & articles intended as magnets, nes ranks 294th in the Product Complexity Index (PCI).

Description Permanent magnets are used to create electromagnets in TVs, cell phones, microwaves, and other electronic devices. They also are used in toys and games for their magnetic properties.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Permanent magnets & articles intended as magnets, nes. Countries are shown based on data availability.

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

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* 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 (2023)China$861M
Top Destination (2023)Germany$165M

In 2023 Permanent magnets & articles intended as magnets, nes were the world's 1621st most traded product (out of 4,644).

In 2023, the top exporters of Permanent magnets & articles intended as magnets, nes were China ($861M), Germany ($107M), Japan ($77.5M), South Korea ($76.2M), and United States ($45.8M).

In 2023, the top importers of Permanent magnets & articles intended as magnets, nes were Germany ($165M), Thailand ($114M), United States ($113M), Mexico ($89.8M), and China ($83.2M).

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Exporters of Permanent magnets & articles intended as magnets, nes (2023)
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Importers of Permanent magnets & articles intended as magnets, nes (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Hong Kong$15.3M
Top Destination Growth (2022 -  2023)Australia$13.1M

Between 2022 and 2023, the exports of Permanent magnets & articles intended as magnets, nes grew the fastest in Hong Kong ($15.3M), Canada ($15.2M), Germany ($7.23M), Mexico ($6.66M), and Malaysia ($4.64M).

Between 2022 and 2023, the fastest growing importers of Permanent magnets & articles intended as magnets, nes were Australia ($13.1M), Romania ($9.67M), Serbia ($7.86M), Thailand ($6.86M), and Philippines ($4.43M).

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Exporters of Permanent magnets & articles intended as magnets, nes (2022 - 2023)

Importers of Permanent magnets & articles intended as magnets, nes (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Permanent magnets & articles intended as magnets, nes.

In 2023, market concentration measured using Shannon Entropy, was 3.11. This means that most of the exports of Permanent magnets & articles intended as magnets, nes are explained by 8 countries.

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Value of Exports in Permanent magnets & articles intended as magnets, nes

Net Trade

TOP NET EXPORTER (2023)China$778M
TOP NET IMPORTER (2023)Thailand$95.7M

This map shows which countries export or import more of Permanent magnets & articles intended as magnets, nes. Each country is colored based on the difference in exports and imports of Permanent magnets & articles intended as magnets, nes during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Permanent magnets & articles intended as magnets, nes were China ($778M), South Korea ($46.8M), Japan ($13.5M), Malaysia ($10.1M), and Latvia ($1.37M).

In 2023, the countries that had a largest trade value in imports than in exports of Permanent magnets & articles intended as magnets, nes were Thailand ($95.7M), Mexico ($68.4M), United States ($66.8M), India ($61.9M), and Germany ($57.3M).

Net Trade (2023)

Country Comparison

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Ranking

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

Top 10 Exporters Countries of Permanent magnets & articles intended as magnets, nes by percentage of total exports

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 (2023)

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