Analysis and Studies - Products analysis
Copper: import and export
August 24th 2023
Copper is a soft, malleable, and ductile metal with thermal and electrical conductivity. has been used by humans for thousands of years due to its various beneficial properties. Due to its wide range of applications and importance in various industries, copper is considered a vital resource in global trade and economic development. Its conductivity, durability, and versatility make it a key component in modern infrastructure, technology, and manufacturing processes.
In 2021, the leading countries in terms of copper ore exports were Chile, Peru, Indonesia, Australia, and Canada. Chile stood out as the top exporter, with a total export value of $29.7 billion. Peru followed closely with $15.3 billion in exports, while Indonesia, Australia, and Canada recorded export values of $5.45 billion, $4.78 billion, and $4.17 billion, respectively. These countries have established themselves as major players in the global copper ore market, leveraging their rich copper reserves and efficient mining operations.
On the other side of the spectrum, in 2021, China emerged as the largest importer of copper ore. With a staggering import value of $52.4 billion, China's demand for copper ore continues to be robust, driven by its thriving industrial and manufacturing sectors. Japan ranked as the second-largest importer with an import value of $12.2 billion, followed by South Korea, Germany, and India, with import values of $5.62 billion, $3 billion, and $2.86 billion, respectively.
Chilehas established itself as a dominant force, accounting for a substantial portion of the global copper ore exports. The country's geological advantages and strong mining infrastructure have positioned it as a key supplier to meet the global demand for copper.
China's prominent position as the largest importer reflects its ongoing need for copper ore to support its growing industries. The country's thriving manufacturing sector, infrastructure development, and increasing urbanization contribute to its high demand for copper, a vital material in electrical wiring, construction, and various industrial applications.