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Magnets and electromagnets: top exporters and importers (2024)

In 2024, world trade in magnets and electromagnets totaled $10.8 billion (701 thousand tonnes). The top exporters were China (46%), Germany (10%) and Japan (9%); the top importers were Germany (12%), the United States (11%) and Japan (8%). Compared with 2019, the value rose 22%.

Summary

World trade
$10.8billion
Tonnes
701thousand tonnes
Price per tonne
$15,378
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. China$4.9 billion · 45.7%
  2. Germany$1.1 billion · 10.1%
  3. Japan$921 million · 8.5%
  4. Vietnam$392 million · 3.6%
  5. United States$391 million · 3.6%
  6. Philippines$333 million · 3.1%
  7. France$260 million · 2.4%
  8. South Korea$234 million · 2.2%
  9. Italy$222 million · 2.1%
  10. Mexico$172 million · 1.6%
  11. Malaysia$168 million · 1.6%
  12. Switzerland$142 million · 1.3%
  13. United Kingdom$141 million · 1.3%
  14. Thailand$123 million · 1.1%
  15. Taiwan$110 million · 1%
  16. Poland$110 million · 1%
  17. Czechia$101 million · 0.93%
  18. Netherlands$85 million · 0.79%
    re-exports
  19. Austria$85 million · 0.79%
  20. Hong Kong$75 million · 0.69%
    re-exports

Top importers

  1. Germany$1.3 billion · 11.6%
  2. United States$1.2 billion · 11%
  3. Japan$823 million · 7.6%
  4. China$629 million · 5.8%
  5. Mexico$576 million · 5.3%
  6. Vietnam$536 million · 5%
  7. South Korea$473 million · 4.4%
  8. Philippines$409 million · 3.8%
  9. India$385 million · 3.6%
  10. Thailand$369 million · 3.4%
  11. France$316 million · 2.9%
  12. Poland$280 million · 2.6%
  13. Italy$265 million · 2.5%
  14. Hungary$253 million · 2.3%
  15. Czechia$226 million · 2.1%
  16. Malaysia$191 million · 1.8%
  17. Netherlands$163 million · 1.5%
    re-exports
  18. Switzerland$156 million · 1.4%
  19. United Kingdom$152 million · 1.4%
  20. Canada$147 million · 1.4%

Trend

Who sells it

China has been the top exporter since 2006

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

  • China 4.9
  • Germany 1.1
  • Japan 0.92
  • Vietnam 0.39
  • United States 0.39

Source: CEPII BACI

Show the numbers
Country19952024
China0.174.9
Germany0.381.1
Japan0.870.92
Vietnam< 0.010.39
United States0.30.39

Price

Implied price

The price per tonne rose 49% since 1995

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

  • 2024: $15,378

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$10,288
1996$6,859
1997$6,292
1998$9,124
1999$5,505
2000$10,736
2001$10,009
2002$10,092
2003$10,601
2004$8,520
2005$11,265
2006$10,487
2007$11,284
2008$12,412
2009$12,953
2010$12,625
2011$17,889
2012$19,035
2013$15,997
2014$15,851
2015$15,041
2016$15,810
2017$15,157
2018$15,560
2019$15,002
2020$15,966
2021$15,650
2022$18,301
2023$18,152
2024$15,378

What it includes

  • 8505 · Magnets and electromagnets

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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