Which Country Exports the Most Platinum in the World?

Basic Precious Metals May 28, 2018
Author: Anna Sergeeva
Market Analyst

In 2016, approx. 2K tonnes of platinum were exported worldwide; increasing by 15% against the previous year figure. Overall, platinum exports continue to indicate a significant contraction. The pace of growth appeared the most rapid in 2008, when exports increased by 50% year-to-year. In that year, global platinum exports attained its maximum volume of 4.2K tonnes. From 2009 to 2016, growth of global platinum exports failed to regain its strength.

In value terms, platinum exports amounted to $21B in 2016. In general, platinum exports continue to indicate a noticeable curtailment. Over the period under review, global platinum exports attained its maximum level of $35B in 2011; however, from 2012 to 2016, it failed to regain its strength.

Top Platinum Exporting Countries in the World

1. South Africa (6.0 billion USD)

2. United Kingdom (4.2 billion USD)

3. Russia (2.4 billion USD)

4. USA (1.5 billion USD)

5. Germany (1.4 billion USD)

6. Italy (1.2 billion USD)

7. Switzerland (1.0 billion USD)

8. China, Hong Kong SAR (0.9 billion USD)

9. Japan (0.7 billion USD)

10. Spain (0.1 billion USD)

11. China (0.0 billion USD)

12. Mozambique (0.0 billion USD)

Platinum Exports By Country

The exports of the four major exporters of platinum, namely Spain, Italy, South Africa, and the UK, represented more than two-thirds of total export. It was distantly followed by Russia (111 tonnes), committing 6% share of total platinum exports. China (76 tonnes), the U.S. (70 tonnes), Germany (65 tonnes), Japan (44 tonnes), Mozambique (43 tonnes), Switzerland (36 tonnes), and China, Hong Kong SAR (35 tonnes) followed a long way behind this figure.

From 2007 to 2016, the most notable growth rate of platinum exports, among the main exporting countries, was attained by Spain (+55.4% per year), while the other global leaders experienced more modest paces of growth.

In value terms, South Africa ($6B), the UK ($4.2B) and Russia ($2.4B) were the countries with the highest levels of exports in 2016, with a combined 60% share of global exports. These countries were followed by the U.S., Germany, Italy, Switzerland, China, Hong Kong SAR, Japan, Spain, China and Mozambique, which together accounted for a further 33%.

China (+22.0% per year) experienced the highest growth rate of platinum exports, in terms of the main exporting countries, over the last 9 year period, while the other global leaders experienced more modest paces of growth.

Platinum Export Prices By Country

In 2016, the average export price for platinum amounted to $11K per kg, waning by -13.9% against the previous year. In general, platinum export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014, when export increased by 65% against the previous year level. In that year, average platinum export price attained its maximum level of $13K per kg. From 2015 to 2016, growth of average platinum export price failed to regain its strength.

There were significant differences in the average export prices amongst major exporting countries. In 2016, the country with the highest export prices was Switzerland ($27K per kg), while Mozambique ($83 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of platinum export prices was attained by China (+46.3% per year), while the other global leaders experienced more modest paces of growth.

Do you want to know more about global platinum market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • platinum market share
  • platinum prices
  • platinum industry
  • platinum sales
  • platinum import
  • platinum export
  • platinum market forecast
  • platinum price forecast
  • key platinum producers

All data provided in this article covers the following product: HS Code 7110 - Platinum; unwrought or in semi-manufactured forms, or in powder form.

Source: World: Platinum - Market Report. Analysis and Forecast to 2025