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Who buys Russia’s platinum-group metals? Export destinations 2024

In 2024, Russia exported $4 billion of platinum-group metals (117 tonnes), 8.7% of the world total. Its main destinations were China (23%), the United States (22%) and Hong Kong (21%). Russia was the world’s 2nd-largest exporter of platinum-group metals.

Summary

Value
$4billion
Tonnes
117tonnes
Share of world total
8.7%
World rank
2nd
Routes to the main destinations. Width: value; color: estimated transport mode.SeaAirLand

Destinations

The 11 main destinations in the latest year.

PartnerValue (USD millions)TonnesUSD per tonneShareMode
China900Tonnes: 24USD per tonne: $37,413,10022.6%Land
United States878Tonnes: 28USD per tonne: $31,804,17422.1%Air
Hong Kong re-exports816Tonnes: 20USD per tonne: $40,405,58020.5%Air
Armenia426Tonnes: 16USD per tonne: $27,312,17810.7%Air
Japan393Tonnes: 12USD per tonne: $32,296,7409.9%Air
Italy202Tonnes: 6USD per tonne: $31,471,6815.1%Air
Germany179Tonnes: 5USD per tonne: $33,912,7704.5%Air
United Kingdom173Tonnes: 6USD per tonne: $30,824,3334.3%Air
Switzerland8.5Tonnes: 0USD per tonne: $30,198,5370.21%Air
Singapore re-exports0.16Tonnes: 0USD per tonne: $32,329,6000%Air
India0.04Tonnes: 0USD per tonne: $44,926,0000%Air

Trend

Who it sells to

China has been its main destination since 2024

Value in USD billions. The five largest destinations in 2024.

  • China 0.9
  • United States 0.88
  • Hong Kong 0.82
  • Armenia 0.43
  • Japan 0.39

Source: CEPII BACI

Show the numbers
Partner19952024
China< 0.010.9
United States0.410.88
Hong Kong00.82
Armenia00.43
Japan0.720.39

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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