In 2024, global lithium exports surged to US$7.2 billion, reflecting the rapid growth of the electric vehicle (EV) and renewable energy markets. This represents an 18% increase in export value compared to 2023, when lithium exports were valued at $6.1 billion. Over the past five years, lithium exports have consistently outpaced the growth of other minerals, driven by the global shift towards clean energy and sustainable technologies.

Global Lithium Export & Import Trends in 2024

The top lithium exporters in 2024 were Australia, Chile, China, Argentina, and Zimbabwe, accounting for 70% of total global lithium exports. Among these, Australia remained the dominant player, contributing 45% of the total export value.

On the import side, the top five importers—China, Japan, South Korea, the United States, and Germany—comprised 50.4% of total lithium imports. These countries are heavily investing in battery manufacturing and clean energy infrastructure, which are both driving the demand for lithium.

Regional Exort Breakdown:

Oceania (primarily Australia): $3.24 billion (45%)

South America (Chile, Argentina): $2.27 billion (31.5%)

Asia (China): $799 million (11.1%)

Africa (Zimbabwe): $443 million (6.1%)

North America (United States, Canada): $247 million (3.4%)

Regional Import Breakdown:

Asia: $3.56 billion (49.4%)

North America: $1.4 billion (19.4%)

Europe: $1.24 billion (17.2%)

Oceania: $653 million (9.1%)

South America: $289 million (4%)

Top Lithium Exporting Countries in 2024

In 2024, Australia dominated global lithium exports with $3.24 billion, accounting for 45% of total exports. Chile and Argentina followed closely, with $2.27 billion and $647 million in export value, respectively. The significance of South American countries like Chile and Argentina is set to increase as demand for lithium continues to soar.

Top Lithium Exporting Countries in 2024:

Australia: $3.24 billion (45%)

Chile: $2.27 billion (31.5%)

China: $799 million (11.1%)

Argentina: $647 million (9%)

Zimbabwe: $443 million (6.1%)

The fast-growing exports from Zimbabwe (+19.7%) and Argentina (+14.3%) signal emerging opportunities in these regions. This is partly driven by new mining projects and improved mining technologies, positioning these countries as future global lithium suppliers.

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Top Lithium Importing Countries in 2024

On the import side, China remains the world’s largest importer of lithium, with an import value of $2.9 billion (40.4% of total imports). Japan follows with $817 million, while South Korea, the United States, and Germany round out the top five.

As global demand for EVs and battery storage continues to increase, countries in Asia are scaling up lithium imports to meet their ambitious production targets. This includes investments in domestic lithium battery manufacturing and partnerships with exporting countries to secure long-term supply.

Top Lithium Importing Countries in 2024:

China: $2.9 billion (40.4%)

Japan: $817 million (11.3%)

South Korea: $491 million (6.8%)

United States: $440 million (6.1%)

Germany: $347 million (4.8%)

Market Dynamics and Growth Drivers

The rapid expansion of the electric vehicle market and the global push for renewable energy have made lithium a critical resource. Lithium-ion batteries are the cornerstone of EVs, solar energy storage systems, and other portable energy solutions. The continued development of battery recycling technologies is also contributing to the global supply of lithium, though demand still outpaces supply, particularly in emerging markets.

• Electric Vehicle Market: With EVs becoming mainstream, demand for lithium batteries has surged. China alone accounts for over 60% of the global EV market.

• Renewable Energy Storage: Lithium-ion batteries are essential for storing energy produced by solar and wind farms, making lithium crucial to the energy transition.

• Technological Advancements: Advances in battery technology, including higher energy densities and longer lifespans, are further driving lithium demand.

How Tendata Helps:

• Comprehensive Trade Data: Access billions of trade transaction details from over 228 countries to understand global supply and demand patterns.

• Business Intelligence: With 500 million+ business profiles, Tendata helps companies assess the financial health and market stability of potential lithium suppliers and buyers.

• Decision-Maker Contact Information: Tendata provides detailed contact information for key decision-makers, improving B2B communication and customer acquisition.

The lithium boom is far from over. By leveraging data and market insights, businesses can position themselves as leaders in this high-growth sector and capitalize on the global shift toward sustainable technologies.