The value of overall platinum exports grew by an average 23.1% for all exporting countries from 5 years earlier in 2019 when platinum shipments were valued at $40.8 billion.
Year over year, the value of globally exported platinum shrank by -30.9% compared to $72.7 billion starting from 2022.
The 5 biggest exporters of platinum are the South Africa, Russia, United Kingdom, United States of America and Germany. Collectively, that leading group of top platinum sellers on international markets generated over two-thirds (68.9%) of the world’s platinum exported during 2023.
Among continents, suppliers in European countries sold the highest dollar worth of exported platinum during 2023 with shipments valued at $25.8 billion or 51.4% of the global total. In second place were fast-growing exporters located in Africa at 21.6% while 13.9% of worldwide platinum shipments originated from Asia. Another 12.8% worth came from sellers in North America.
Tinier percentages arrived from suppliers in Latin America (0.2%) excluding Mexico but including the Caribbean, and Oceania’s Australia and New Zealand mostly (0.1%).
For research purposes, the 4-digit Harmonized Tariff System code prefix for unwrought or semi-manufactured platinum is 7110. Also included in that code prefix are palladium, rhodium, iridium, osmium and ruthenium.
Platinum Exports by Country
Below are the 15 countries that exported the highest dollar value worth of platinum during 2023.
- South Africa: US$10.7 billion (21.4% of total platinum exports)
- Russia: $6.8 billion (13.6%)
- United Kingdom: $6.4 billion (12.8%)
- United States: $6.2 billion (12.3%)
- Germany: $4.4 billion (8.8%)
- Hong Kong: $4 billion (8%)
- Italy: $3.1 billion (6.1%)
- Belgium: $3 billion (6%)
- Japan: $1.4 billion (2.8%)
- Switzerland: $1.1 billion (2.2%)
- South Korea: $596.7 million (1.2%)
- Norway: $355.2 million (0.7%)
- Taiwan: $307.4 million (0.6%)
- Canada: $297.7 million (0.6%)
- Singapore: $209.6 million (0.4%)
By value, the listed 15 countries shipped 97.5% of globally exported platinum in 2023.
Among the top exporters, the sole growth exporter of platinum since 2022 was Hong Kong thanks to its 31.6% advance.
Major suppliers that posted declines in their international sales of platinum were led by: Switzerland (down -42.8% from 2022), Singapore (down -41.3%), Belgium (down -41.2%), United States of America (down -38.7%) and Taiwan (down -37.5%).
Searchable List of Platinum Exporting Countries in 2023
The 75 export countries in the following automated database showcases 100% of the value of platinum exported in 2023.
| Rank | Exporter | Platinum Exports | 2022-3 |
|---|---|---|---|
| 1. | South Africa | $10,726,818,000 | -35.9% |
| 2. | Russia | $6,821,641,000 | -4.9% |
| 3. | United Kingdom | $6,424,423,000 | -32.1% |
| 4. | United States | $6,153,933,000 | -38.7% |
| 5. | Germany | $4,416,061,000 | -36.9% |
| 6. | Hong Kong | $4,034,307,000 | +31.6% |
| 7. | Italy | $3,072,015,000 | -35.7% |
| 8. | Belgium | $2,988,189,000 | -41.2% |
| 9. | Japan | $1,423,355,000 | -36% |
| 10. | Switzerland | $1,124,738,000 | -42.8% |
| 11. | South Korea | $596,677,000 | -33.6% |
| 12. | Norway | $355,226,000 | -36.3% |
| 13. | Taiwan | $307,417,000 | -37.5% |
| 14. | Canada | $297,727,000 | -24.2% |
| 15. | Singapore | $209,600,000 | -41.3% |
| 16. | Austria | $203,323,000 | -25.2% |
| 17. | Armenia | $192,057,000 | +197897% |
| 18. | France | $175,804,000 | -3.6% |
| 19. | Zimbabwe | $121,202,000 | -33.3% |
| 20. | mainland China | $82,986,000 | +457.9% |
| 21. | Costa Rica | $78,877,000 | +95.7% |
| 22. | Spain | $75,916,000 | -23.2% |
| 23. | United Arab Emirates | $66,745,000 | -94.7% |
| 24. | Netherlands | $49,529,000 | -10.9% |
| 25. | Czech Republic | $35,382,000 | -21.2% |
| 26. | Colombia | $25,998,000 | +15.2% |
| 27. | Australia | $25,457,000 | +83.1% |
| 28. | India | $23,137,000 | +30.3% |
| 29. | Ireland | $21,627,000 | -4.4% |
| 30. | Türkiye | $20,364,000 | -69.3% |
| 31. | Thailand | $11,270,000 | -16.5% |
| 32. | Finland | $9,842,000 | -7.7% |
| 33. | Poland | $9,123,000 | -70.6% |
| 34. | Chile | $6,722,000 | +19.4% |
| 35. | New Zealand | $4,093,000 | -2.4% |
| 36. | Sweden | $3,899,000 | -6.7% |
| 37. | Curaçao | $3,666,000 | 0% |
| 38. | Uzbekistan | $3,450,000 | -28% |
| 39. | Saudi Arabia | $2,601,000 | 0% |
| 40. | Greece | $2,330,000 | -40.3% |
| 41. | Bosnia/Herzegovina | $1,477,000 | -19.5% |
| 42. | Lebanon | $1,279,000 | +179.3% |
| 43. | Malaysia | $1,112,000 | -63.7% |
| 44. | Hungary | $1,027,000 | -85.3% |
| 45. | Portugal | $971,000 | +183.1% |
| 46. | Serbia | $858,000 | -88.8% |
| 47. | Dominican Republic | $752,000 | +1094% |
| 48. | Denmark | $611,000 | -53.4% |
| 49. | Estonia | $564,000 | 0% |
| 50. | Israel | $543,000 | +127.2% |
| 51. | Mexico | $461,000 | -98.6% |
| 52. | Bahrain | $461,000 | +277.9% |
| 53. | Luxembourg | $460,000 | +71.6% |
| 54. | Vietnam | $428,000 | +7.8% |
| 55. | Brazil | $412,000 | -20.3% |
| 56. | Egypt | $398,000 | +2.6% |
| 57. | Slovakia | $390,000 | +36.4% |
| 58. | Peru | $335,000 | +20.5% |
| 59. | Myanmar | $319,000 | 0% |
| 60. | Aruba | $176,000 | 0% |
| 61. | Slovenia | $140,000 | -10.8% |
| 62. | Bulgaria | $93,000 | -23.8% |
| 63. | Georgia | $85,000 | -70.7% |
| 64. | Philippines | $77,000 | +220.8% |
| 65. | Congo | $21,000 | 0% |
| 66. | Ecuador | $18,000 | +12.5% |
| 67. | Ethiopia | $16,000 | +23.1% |
| 68. | Albania | $14,000 | 0% |
| 69. | Iran | $5,000 | 0% |
| 70. | Venezuela | $5,000 | 0% |
| 71. | Burkina Faso | $4,000 | 0% |
| 72. | Barbados | $3,000 | 0% |
| 73. | Croatia | $2,000 | 0% |
| 74. | Andorra | $1,000 | -85.7% |
| 75. | Panama | $1,000 | 0% |
Expanding our scope to include all platinum exporters, the fastest growers were Armenia (up 197,897% from 2022), Dominican Republic (up 1,094%), mainland China (up 457.9%), Bahrain (up 277.9%) then the Philippines (up 220.8%).
You can change the presentation order by clicking the triangle icon at the top of the columns. An entry of 0% in the right-most column means that 2022 data was unavailable.
Countries Generating Best Surpluses Trading Platinum
The following countries posted the highest positive net exports for platinum during 2023. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the surplus between the value of each country’s exported platinum and its import purchases for that same commodity.
- South Africa: US$10.6 billion (net export surplus down -36.3% since 2022)
- Russia: $6.8 billion (down -4.6%)
- Belgium: $2.1 billion (down -54.9%)
- United Kingdom: $1.2 billion (down -28.6%)
- Norway: $335.6 million (down -34.4%)
- Italy: $251.7 million (down -73.4%)
- Taiwan: $149.2 million (down -31.4%)
- Zimbabwe: $121.2 million (down -33.3%)
- Costa Rica: $74.9 million (up 104.2%)
- Austria: $37 million (up 21.5%)
- Colombia: $25.7 million (up 16.3%)
- Netherlands: $23 million (up 90.8%)
- United Arab Emirates: $14.5 million (down -98.8%)
- Türkiye: $10.6 million (down -81.3%)
- Finland: $5.7 million (up 120.9%)
World-leading exporter South Africa generated the highest surplus in the international trade of platinum. In turn, this positive cashflow confirms South Africa’s strong competitive advantage for this specific product category.
Countries Causing Worst Deficits Trading Platinum
The following countries posted the highest negative net exports for platinum during 2023. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the deficit between the value of each country’s imported platinum purchases and its exports for that same commodity.
- mainland China: -US$6.3 billion (net export deficit down -17.3% since 2022)
- Japan: -$4.2 billion (down -44.5%)
- United States of America: -$2.4 billion (down -35.4%)
- Germany: -$1.3 billion (down -42.8%)
- North Macedonia: -$1.20 billion (down -15.9%)
- South Korea: -$1.03 billion (down -38%)
- Switzerland: -$945.6 million (up 190.9%)
- Canada: -$849.6 million (down -51.3%)
- Poland: -$845.1 million (down -25.1%)
- Ireland: -$491.8 million (down -28.6%)
- Brazil: -$485.2 million (down -36.9%)
- Hong Kong: -$481.2 million (down -65%)
- India: -$274.6 million (down -82.4%)
- Czech Republic: -$98.2 million (up 1081.6%)
- France: -$78.2 million (down -24.7%)
Two Asian competitors, mainland China and Japan, incurred the highest deficits in the international trade of platinum. In turn, their negative cashflows highlight both countries’ competitive disadvantages for this specific product category but also signals opportunities for platinum-supplying countries that help satisfy the powerful demand.
Platinum Exporting Companies
Below are global platinum miners that represent established players engaged in the international platinum trade. The home country for each platinum producer is shown within parenthesis.
- Anglo American Platinum Limited (South Africa)
- Aquarius Platinum (Bermuda)
- ARM African Rainbow Minerals (South Africa)
- Impala Platinum (South Africa)
- Lonmin plc (United Kingdom)
- Nornickel (Russia)
- North American Palladium (Canada)
- Northam Platinum (South Africa)
- Stillwater Mining Company (United States)
- Wesizwe Platinum (South Africa)
See also Gold Exports by Country, Silver Exports by Country, Palladium Exports by Country and Jewelry Exports by Country
Research Sources:
Central Intelligence Agency, The World Factbook Field Listing: Exports – Commodities. Accessed on November 21, 2024
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on November 21, 2024
International Trade Centre, Trade Map. Accessed on November 21, 2024
Investopedia, Net Exports Definition. Accessed on November 21, 2024
Wikipedia, Category:Platinum mining companies. Accessed on November 21, 2024