The global export of cobalt in US dollars is led by Canada, followed by China and Norway. In 2023, Canada experienced a decrease in its share by 6.48%, contrasting with China and Norway, which showed slight increases of 2.32% and 1.85%, respectively. Notable growth was observed in countries like South Korea and Israel, with impressive surges of 9.33% and 170.44%. Declines were observed in Poland and Indonesia, with decreases of 35.27% and 8.89%. Tanzania registered a remarkable increase of 214.77%, albeit from a low base, indicating a growing market presence.
Future trends to watch in the global cobalt export market include the potential shifts in supply chains due to geopolitical tensions and technological advancements in cobalt recycling. The push for electric vehicle production and renewable energy technologies is likely to increase demand, impacting the shares of countries heavily involved in cobalt extraction and export.
Top countries in Export of Cobalt Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Canada | 13.7 | 2023 | +1.97% | -6.48% | View data |
| 2 | 2 China | 12.61 | 2023 | +5.01% | +2.32% | View data |
| 3 | 3 Norway | 10.9 | 2023 | +4.27% | +1.85% | View data |
| 4 | 4 United States | 10.22 | 2023 | +3.12% | +1.55% | View data |
| 5 | 5 Madagascar | 8.4 | 2023 | +5.56% | +4.2% | View data |
| 6 | 6 Australia | 7.47 | 2023 | +2.89% | +1.42% | View data |
| 7 | 7 Russia | 5.88 | 2023 | +2.55% | -2.15% | View data |
| 8 | 8 Germany | 5.64 | 2023 | +2.66% | +1.83% | View data |
| 9 | 9 Belgium | 5.64 | 2023 | +4.29% | -1.97% | View data |
| 10 | 10 United Kingdom | 5.17 | 2023 | +3.64% | +1.84% | View data |
