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Cobalt: top exporters and importers (2024)

In 2024, world trade in cobalt totaled $6.4 billion (814 thousand tonnes). The Democratic Republic of the Congo accounted for 52% of exports, followed by the United States (7%) and Canada (5%); China accounted for 52% of imports, followed by the United States (7%) and Japan (3%). Compared with 2019, the value fell 8%.

Summary

World trade
$6.4billion
Tonnes
814thousand tonnes
Price per tonne
$7,845
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. Democratic Republic of the Congo$3.3 billion · 51.5%
    see destinations
  2. United States$449 million · 7%
  3. Canada$299 million · 4.7%
  4. China$284 million · 4.4%
  5. Finland$257 million · 4%
  6. United Kingdom$209 million · 3.3%
  7. Japan$158 million · 2.5%
  8. Germany$144 million · 2.3%
  9. Belgium$136 million · 2.1%
    re-exports
  10. Norway$123 million · 1.9%
  11. Namibia$122 million · 1.9%
  12. Australia$114 million · 1.8%
  13. Zambia$84 million · 1.3%
  14. Madagascar$84 million · 1.3%
  15. France$76 million · 1.2%
  16. Morocco$64 million · 0.99%
  17. Netherlands$57 million · 0.89%
    re-exports
  18. Philippines$46 million · 0.72%
  19. Malaysia$44 million · 0.69%
  20. South Africa$36 million · 0.56%

Top importers

  1. China$3.4 billion · 52.4%
    see sources
  2. United States$442 million · 6.9%
  3. Japan$204 million · 3.2%
  4. Belgium$188 million · 2.9%
    re-exports
  5. Germany$185 million · 2.9%
  6. South Korea$177 million · 2.8%
  7. Netherlands$161 million · 2.5%
    re-exports
  8. Taiwan$159 million · 2.5%
  9. United Kingdom$158 million · 2.5%
  10. Namibia$144 million · 2.2%
  11. France$126 million · 2%
  12. Malaysia$103 million · 1.6%
  13. Ireland$101 million · 1.6%
  14. India$99 million · 1.5%
  15. South Africa$81 million · 1.3%
  16. Singapore$68 million · 1.1%
    re-exports
  17. Zambia$67 million · 1.1%
  18. Italy$57 million · 0.89%
  19. Switzerland$53 million · 0.83%
  20. Norway$41 million · 0.64%

Trend

Who sells it

The Democratic Republic of the Congo has been the top exporter since 2006

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

  • Democratic Republic of the Congo 3.3
  • United States 0.45
  • Canada 0.3
  • China 0.28
  • Finland 0.26

Source: CEPII BACI

Show the numbers
Country19952024
Democratic Republic of the Congo0.23.3
United States0.110.45
Canada0.230.3
China0.020.28
Finland0.170.26

Price

Implied price

The price per tonne fell 79% since 1995

Current US dollars per tonne: value over the weight reported by BACI.

  • 2024: $7,845

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$37,375
1996$35,383
1997$31,416
1998$23,169
1999$7,741
2000$10,223
2001$8,650
2002$4,938
2003$6,266
2004$7,818
2005$7,203
2006$8,960
2007$16,565
2008$17,139
2009$7,810
2010$8,348
2011$8,325
2012$9,069
2013$6,941
2014$7,898
2015$8,034
2016$12,186
2017$13,290
2018$20,857
2019$11,202
2020$10,769
2021$16,416
2022$20,283
2023$10,399
2024$7,845

What it includes

Ore, oxides and hydroxides, and unwrought metal or mattes.

  • 2605 · Cobalt ore
  • 282200 · subheading of heading 2822: Cobalt oxides
  • 8105 · Cobalt

Products in the same chapter

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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