In 2023, Canada led the global cobalt exports, but its year-on-year decrease of 6.85% contrasts with China's 2.33% growth. Madagascar and Australia showed modest growths of 4.2% and 1.46% respectively, while Russia's exports slipped by 2.14%. The United States and Belgium displayed marginal growth and reduction, respectively, while Singapore and South Korea witnessed notable increases at 5.78% and 9.99%. Other countries like Mexico significantly surged at 162.34%, albeit from a lower base. However, smaller European exporters like Poland experienced steep declines exceeding 20%.
Future trends to watch for in global cobalt exports include increasing demands from the electric vehicle market, which could drive higher export volumes from key producers. Technological advancements in battery manufacturing and recycling will likely influence market dynamics, with potential shifts in exporter rankings depending on advancements and regional investments. Monitoring geopolitical influences and policy changes affecting major producers and consumers will be critical in anticipating further global trade shifts.
Top countries in Export of Cobalt by Country
| # | 10 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Canada | 424,920,000 | 2023 | +1.88% | -6.85% | View data |
| 2 | 2 China | 409,030,000 | 2023 | +5.04% | +2.33% | View data |
| 3 | 3 Madagascar | 276,080,000 | 2023 | +5.56% | +4.2% | View data |
| 4 | 4 Australia | 244,960,000 | 2023 | +2.92% | +1.46% | View data |
| 5 | 5 Russia | 192,770,000 | 2023 | +2.56% | -2.14% | View data |
| 6 | 6 United States | 190,260,000 | 2023 | +3.56% | +1.6% | View data |
| 7 | 7 Belgium | 160,360,000 | 2023 | +4.39% | -2.49% | View data |
| 8 | 8 Japan | 152,650,000 | 2023 | +3.53% | -6.37% | View data |
| 9 | 9 Morocco | 121,130,000 | 2023 | +4.02% | +2.31% | View data |
| 10 | 10 United Kingdom | 100,650,000 | 2023 | +3.89% | +1.59% | View data |
