In 2023, Canada's cobalt export value faced a decline of 6.85%, despite leading global exports. China's and Madagascar's exports rose by 2.33% and 4.2% respectively, showing positive momentum. Significant contributors like Japan experienced a decline of 6.37%, while Singapore and Slovakia saw substantial gains, rising by 5.78% and an impressive 89.11% respectively. Other noteworthy variances include South Korea's 9.99% increase and Mexico's staggering 162.34% growth. Countries like Poland and Estonia witnessed notable declines, highlighting fluctuating dynamics in the market.
Future trends in the global cobalt export market suggest increased activity from developing nations, leveraging technological innovations for refining processes. China's influence will likely persist, while advancements in battery technology may alter demand patterns, impacting export dynamics significantly.
Top countries in Export of Cobalt Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Canada | 17.13 | 2023 | +1.88% | -6.85% | View data |
| 2 | 2 China | 16.49 | 2023 | +5.04% | +2.33% | View data |
| 3 | 3 Madagascar | 11.13 | 2023 | +5.56% | +4.2% | View data |
| 4 | 4 Australia | 9.87 | 2023 | +2.92% | +1.46% | View data |
| 5 | 5 Russia | 7.77 | 2023 | +2.56% | -2.14% | View data |
| 6 | 6 United States | 7.67 | 2023 | +3.56% | +1.6% | View data |
| 7 | 7 Belgium | 6.46 | 2023 | +4.39% | -2.49% | View data |
| 8 | 8 Japan | 6.15 | 2023 | +3.53% | -6.37% | View data |
| 9 | 9 Morocco | 4.88 | 2023 | +4.02% | +2.31% | View data |
| 10 | 10 United Kingdom | 4.06 | 2023 | +3.89% | +1.59% | View data |
