Overview This page contains the latest trade data of Mineral Products. In 2020, Mineral Products were the world's 2nd most traded product, with a total trade of $1.8T. Between 2019 and 2020 the exports of Mineral Products decreased by -29.2%, from $2.54T to $1.8T. Trade in Mineral Products represent 10.8% of total world trade.

Mineral Products include Crude Petroleum, Refined Petroleum, Petroleum Gas, Coal Briquettes, Iron Ore, Copper Ore, Electricity, Coal Tar Oil, Petroleum Coke, and Cement, among others.

Exports In 2020 the top exporters of Mineral Products  were United States ($169B), Russia ($166B), Australia ($158B), Saudi Arabia ($110B), and Canada ($80.9B).

Imports In 2020 the top importers of Mineral Products were China ($387B), United States ($127B), Japan ($117B), India ($107B), and South Korea ($97.3B).

Tariffs In 2018 the average tariff for Mineral Products was 3.45%, making it the 21st lowest tariff using the Section product classification.

The countries with the highest import tariffs for Mineral Products are Bhutan (26%), Bahamas (24.4%), Bermuda (21.2%), and Cayman Islands (21%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), Norway (0%), and Mauritius (0.04%).

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

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Flow
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.

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

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Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2020): United States, $169B

Top Destination (2020): China, $387B

Mineral Products are the world's 2nd most traded product.

In 2020, the top exporters of Mineral Products were United States ($169B), Russia ($166B), Australia ($158B), Saudi Arabia ($110B), and Canada ($80.9B).

In 2020, the top importers of Mineral Products were China ($387B), United States ($127B), Japan ($117B), India ($107B), and South Korea ($97.3B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2019 -  2020): Chile, $3.81B

Top Destination Growth (2019 - 2020): Paraguay, $619M

Between 2019 and 2020, the exports of Mineral Products grew the fastest in Chile ($3.81B), Guyana ($1.11B), Laos ($350M), Chad ($306M), and Ukraine ($269M).

Between 2019 and 2020, the fastest growing importers of Mineral Products were Paraguay ($619M), Brunei ($309M), Liberia ($196M), Cape Verde ($184M), and Seychelles ($82.5M).

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Market Concentration

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Cumulative market share

Value

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

In 2020,  market concentration measured using Shannon Entropy, was 5.41. This means that most of the exports of Mineral Products are explained by 42 countries.

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TOP NET EXPORTER (2020): Russia, $162B

TOP NET IMPORTER (2020): China, $350B

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 2020.

In 2020, the countries that had a largest trade value in exports than in imports of Mineral Products were Russia ($162B), Australia ($141B), Saudi Arabia ($105B), United Arab Emirates ($58.7B), and Canada ($57.6B).

In 2020, the countries that had a largest trade value in imports than in exports of Mineral Products were China ($350B), Japan ($109B), India ($73.5B), South Korea ($70B), and Italy ($36.7B).

Disaggregation

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Value
Disaggregation

In 2020, the world most traded Mineral Products, disaggragated by their HS6 level were Crude Petroleum ($640B), Refined Petroleum ($451B), Petroleum Gas ($217B), Iron Ore ($141B), and Coal Briquettes ($95.2B)

Country Comparison

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Flow
Measure
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.

Product Complexity

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Diversification Frontier

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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.