In 2023, Malaysia led global unwrought nickel exports, accounting for 20.01% of the share, with an impressive year-on-year growth of 3.98%. Canada and Russia followed at 15.91% and 14.56%, yet both saw declines of 0.52% and 5.26%, respectively. Madagascar and South Korea were notable gainers, expanding their shares by 5.62% and 8.5%. China significantly contracted by 10.58%, while Sweden showed further steep decline. These trends indicate shifting patterns in the unwrought nickel export market, with a dynamic interplay of geopolitical and economic factors driving changes.
Future trends to monitor include potential growth in emerging markets' supply capabilities and the impact of environmental policies on production. Shifting trade relations and technological innovations could also alter the landscape, cushioning the fluctuations of core market players such as Russia and Finland, whose contributions have faced recent declines. Increased demand in the clean energy sector might drive nickel manufacturers to explore diversified exports.
Top countries in Export of Unwrought Nickel Share by Country (Kilograms)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Malaysia | 20.01 | 2023 | +5.36% | +3.98% | View data |
| 2 | 2 Canada | 15.91 | 2023 | -0.33% | -0.52% | View data |
| 3 | 3 Russia | 14.56 | 2023 | -6.03% | -5.26% | View data |
| 4 | 4 Norway | 13.1 | 2023 | +0.46% | +0.37% | View data |
| 5 | 5 Finland | 6.34 | 2023 | +1.37% | +1.54% | View data |
| 6 | 6 Madagascar | 5.86 | 2023 | +3.58% | +5.62% | View data |
| 7 | 7 Netherlands | 5.71 | 2023 | -1.38% | -0.83% | View data |
| 8 | 8 United Kingdom | 3.38 | 2023 | -0.75% | +0.27% | View data |
| 9 | 9 Japan | 3.1 | 2023 | +2.65% | +5.79% | View data |
| 10 | 10 Singapore | 2.65 | 2023 | -3.99% | +0.3% | View data |
