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Rare earth compounds: top exporters and importers (2024)

In 2024, world trade in rare earth compounds totaled $2.6 billion (202 thousand tonnes). The top exporters were Myanmar (32%), China (16%) and Malaysia (15%); China accounted for 53% of imports, followed by Japan (10%) and Vietnam (7%). Compared with 2019, the value rose 98%.

Summary

World trade
$2.6billion
Tonnes
202thousand tonnes
Price per tonne
$12,849
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. Myanmar$818 million · 31.6%
  2. China$410 million · 15.8%
  3. Malaysia$399 million · 15.4%
  4. Laos$260 million · 10%
  5. Japan$219 million · 8.4%
  6. United States$92 million · 3.6%
  7. France$82 million · 3.2%
  8. India$34 million · 1.3%
  9. Vietnam$32 million · 1.2%
  10. Germany$28 million · 1.1%
  11. South Korea$28 million · 1.1%
  12. Austria$26 million · 1%
  13. Norway$23 million · 0.9%
  14. Estonia$20 million · 0.77%
  15. Russia$19 million · 0.72%
  16. Italy$15 million · 0.57%
  17. Taiwan$14 million · 0.53%
  18. Netherlands$13 million · 0.51%
    re-exports
  19. Turkey$12 million · 0.48%
  20. United Kingdom$9 million · 0.35%

Top importers

  1. China$1.4 billion · 53.1%
  2. Japan$261 million · 10.1%
  3. Vietnam$189 million · 7.3%
  4. United States$172 million · 6.6%
  5. South Korea$88 million · 3.4%
  6. Thailand$64 million · 2.5%
  7. Philippines$61 million · 2.4%
  8. Germany$55 million · 2.1%
  9. Taiwan$51 million · 2%
  10. Turkey$23 million · 0.9%
  11. France$22 million · 0.85%
  12. North Macedonia$22 million · 0.84%
  13. Ireland$19 million · 0.74%
  14. Russia$19 million · 0.74%
  15. Singapore$16 million · 0.62%
    re-exports
  16. India$13 million · 0.51%
  17. Spain$13 million · 0.5%
  18. Netherlands$12 million · 0.45%
    re-exports
  19. Norway$12 million · 0.44%
  20. Italy$10 million · 0.38%

Trend

Who sells it

Myanmar has been the top exporter since 2023

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

  • Myanmar 0.82
  • China 0.41
  • Malaysia 0.4
  • Laos 0.26
  • Japan 0.22

Source: CEPII BACI

Show the numbers
Country19952024
Myanmar00.82
China0.170.41
Malaysia< 0.010.4
Laos00.26
Japan0.040.22

Price

Implied price

The price per tonne rose 99% since 2000

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

  • 2024: $12,849

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995—
1996—
1997—
1998—
1999—
2000$6,457
2001$6,279
2002$5,215
2003$5,158
2004$3,875
2005$6,240
2006$6,969
2007$10,170
2008$12,127
2009$8,549
2010$15,715
2011$53,747
2012$37,153
2013$20,031
2014$14,979
2015$12,354
2016$17,028
2017$9,459
2018$7,722
2019$8,627
2020$13,397
2021$19,687
2022$24,940
2023$16,049
2024$12,849

What it includes

  • 2846 · Rare earth compounds

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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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