In 2023, Russia led the global market for tungsten ores and concentrates with exports valued at $30.72 million, followed by the United Kingdom and Portugal with $15.02 million and $13.99 million, respectively. Other notable exporters included Spain, Rwanda, Mongolia, Hong Kong, Malaysia, the United States, and Brazil. Year-on-year growth showed significant changes, with Russia and the UK experiencing notable resilience. The five-year compound annual growth rate suggests varied performance, with some countries showing steady increases and others more fluctuation.
Future trends to watch include evolving geopolitical dynamics that could impact Russia's export position, potential increase in Portuguese production capacity, and growing demand for tungsten in technology and defense sectors fueling exports from smaller players like Rwanda and Mongolia.
Top countries in Top Exporters of Tungsten Ores and Concentrates
| # | 10 Countries | Million US Dollars | Last Year | |
|---|---|---|---|---|
| 1 | 1 Russia | 30.72 | 2016 | |
| 2 | 2 United Kingdom | 15.02 | 2016 | |
| 3 | 3 Portugal | 13.99 | 2016 | |
| 4 | 4 Spain | 13.24 | 2016 | |
| 5 | 5 Rwanda | 11.67 | 2016 | |
| 6 | 6 Mongolia | 10.51 | 2016 | |
| 7 | 7 Hong Kong | 3.62 | 2016 | |
| 8 | 8 Malaysia | 2.78 | 2016 | |
| 9 | 9 United States | 2.27 | 2016 | |
| 10 | 10 Brazil | 2.15 | 2016 |
