From smartphones and electric vehicles to x-rays and guided-missiles, several modern technologies wouldn’t be what they are without rare earth metals. Also known as rare earth elements or simply “rare earths”, this group of 17 elements is critical to a number of wide-ranging industries.
Although deposits of rare earth metals exist all over the world, the majority of both mining and refining occurs in China. The above graphic from CSIS China Power Project tracks China’s exports of rare earth metals in 2019, providing a glimpse of the country’s dominating presence in the global supply chain.
China’s Top Rare Earth Export Destinations
Around 88% of China’s 2019 rare earth exports went to just five countries, which are among the world’s technological and economic powerhouses.
| Export Destination | Share of China’s Rare Earth Exports | Top Rare Earth Import (tons) |
|---|---|---|
| Japan | 36.0% | Cerium |
| United States | 33.4% | Lanthanum |
| Netherlands | 9.6% | Lanthanum |
| South Korea | 5.4% | Lanthanum |
| Italy | 3.5% | Cerium |
| Rest of the World | 12.1% | Cerium |
Japan and the U.S. are by far the largest importers, collectively accounting for more than two-thirds of China’s rare earth metals exports.
Lanthanum, found in hybrid vehicles and smartphones, was China’s largest rare earth export by volume, followed by cerium. In dollar terms, terbium.
Source: www.visualcapitalist.com
