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Precious metal ores and concentrates

2616 (Harmonized System 1992 for 4-digit)

2023
World Trade $15.5BRnk 261 / 1217
2023
Top Exporter | Top Importer $1.89B | $8.08BMexico | China
2023
Product Complexity -1.81Rnk 998 / 1044
2022 - 2023
Export Growth (CAGR) 7.68%Rnk 196 / 1217
2023
Share of World Trade 0.069%Rnk 261 / 1217

About

Overview This page contains the latest trade data of Precious Metal Ore. In 2023, Precious Metal Ore were the world's 261st most traded product, with a total trade of $15.5B. Between 2022 and 2023 the exports of Precious Metal Ore grew by 7.68%, from $14.4B to $15.5B. Trade in Precious Metal Ore represent 0.069% of total world trade.

Precious Metal Ore are a part of Ores, slag and ash. They include Precious metal ores and concentrates except silver and Silver ores and concentrates.

Exports In 2023 the top exporters of Precious Metal Ore  were Mexico ($1.89B), South Africa ($1.7B), Russia ($1.48B), Australia ($1.26B), and Bulgaria ($1.03B).

Imports In 2023 the top importers of Precious Metal Ore were China ($8.08B), Germany ($2.77B), United Kingdom ($848M), South Korea ($677M), and Japan ($585M).

Ranking Precious Metal Ore ranks 998th in the Product Complexity Index (PCI).

Description Precious-metal ores are used to extract precious metals from the ore. The metals are then refined and prepared for use in jewelry, electronics, and other products.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Precious Metal Ore. 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)Mexico$1.89B
Top Destination (2023)China$8.08B

In 2023 Precious Metal Ore were the world's 261st most traded product (out of 1,217).

In 2023, the top exporters of Precious Metal Ore were Mexico ($1.89B), South Africa ($1.7B), Russia ($1.48B), Australia ($1.26B), and Bulgaria ($1.03B).

In 2023, the top importers of Precious Metal Ore were China ($8.08B), Germany ($2.77B), United Kingdom ($848M), South Korea ($677M), and Japan ($585M).

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Exporters of Precious Metal Ore (2023)
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Importers of Precious Metal Ore (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Russia$696M
Top Destination Growth (2022 -  2023)China$2.51B

Between 2022 and 2023, the exports of Precious Metal Ore grew the fastest in Russia ($696M), Mexico ($489M), Brazil ($270M), Bulgaria ($218M), and Bolivia ($175M).

Between 2022 and 2023, the fastest growing importers of Precious Metal Ore were China ($2.51B), South Korea ($168M), Singapore ($88.2M), Chinese Taipei ($53M), and Peru ($51.1M).

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Exporters of Precious Metal Ore (2022 - 2023)

Importers of Precious Metal Ore (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Precious Metal Ore.

In 2023, market concentration measured using Shannon Entropy, was 4.57. This means that most of the exports of Precious Metal Ore are explained by 23 countries.

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Value of Exports in Precious Metal Ore

Net Trade

TOP NET EXPORTER (2023)Mexico$1.84B
TOP NET IMPORTER (2023)China$8.03B

This map shows which countries export or import more of Precious Metal Ore. Each country is colored based on the difference in exports and imports of Precious Metal Ore during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Precious Metal Ore were Mexico ($1.84B), South Africa ($1.7B), Russia ($1.3B), Australia ($1.23B), and Bulgaria ($910M).

In 2023, the countries that had a largest trade value in imports than in exports of Precious Metal Ore were China ($8.03B), Germany ($2.46B), United Kingdom ($836M), South Korea ($677M), and Japan ($585M).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Precious Metal Ore, disaggragated by their HS6 level were Precious metal ores and concentrates except... ($11.7B) and Silver ores and concentrates ($3.85B)

HS6 Disaggregation for Precious Metal Ore (2023)
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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 Precious Metal Ore.
It is possible to select the main countries that export or import Precious Metal Ore in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Precious Metal Ore by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALChina+ $8.73M
TOP IMPORT POTENTIALCanada+ $9.8k

Precious Metal Ore’s highest export potential is China. With an export gap of $8.73M.  Precious Metal Ore’s highest import potential is Canada with an import gap of $9.8k.

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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 (2023)

Related Products

This visualization shows products that are likely to be exported by countries that export Precious Metal Ore.

Country by Relatedness

The following visualization shows the relatedness of Precious Metal Ore to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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