In 2024, worldwide exports of palladium reached a total value of US$14.4 billion.

This figure represents a sharp 53.7% decline compared with five years earlier, when global palladium exports were valued at approximately $31 billion in 2020.

On a year-to-year basis, international palladium shipments fell 25.2%, down from $19.2 billion in 2023, reflecting weakening demand and price adjustments across global markets.

Palladium is a rare, silvery-white precious metal widely used in automotive catalytic converters, as well as in jewelry, watches, electronic connectors, medical instruments, spark plugs, and glucose testing strips. Similar to gold, silver, and platinum, palladium is traded as bullion and carries dedicated currency and commodity codes.

Leading Palladium Suppliers Worldwide

The five largest palladium-exporting countries in 2024 were Russia, the United States, South Africa, the United Kingdom, and Germany. Together, these suppliers accounted for 74.6% of total global palladium exports, underscoring a highly concentrated supply structure.

From a regional standpoint, Europe dominated palladium exports, shipping goods worth $8.1 billion, or 56.7% of the global total. North America followed with an 18.9% share, narrowly ahead of Africa, which contributed 17.1% of worldwide exports.

Smaller volumes originated from Asia (7.2%), Oceania (0.08%)—primarily Australia and New Zealand—and Latin America (0.03%), excluding Mexico but including Caribbean nations.

In trade classification systems, palladium falls under two principal HS categories. HS code 711021 covers unwrought or powdered palladium, while HS code 711029 applies to semi-manufactured palladium products.

Unprocessed and powdered palladium remained the dominant export form in 2024, representing 85.5% of global shipments, while semi-manufactured palladium accounted for the remaining 14.5%, up from 10.6% in 2023.

Top Palladium Exporting Countries (All Forms)

The following 15 countries recorded the highest export values for palladium in 2024:

· Russia: US$3.1 billion (21.5%)

· United States: $2.49 billion (17.3%)

· South Africa: $2.46 billion (17.1%)

· United Kingdom: $1.6 billion (11.3%)

· Germany: $1.1 billion (7.3%)

· Italy: $981.4 million (6.8%)

· Belgium: $524.6 million (3.7%)

· Switzerland: $516.3 million (3.6%)

· Hong Kong: $325.7 million (2.3%)

· Armenia: $264.1 million (1.8%)

· Japan: $218.1 million (1.5%)

· Norway: $181.2 million (1.3%)

· South Korea: $151 million (1.1%)

· France: $60.5 million (0.42%)

· Austria: $53.9 million (0.38%)

Combined, these 15 exporters supplied 97.4% of global palladium exports in 2024.

Among them, South Korea experienced the mildest contraction since 2020, with exports declining by just 2.2%. In contrast, the steepest drops were recorded by the United Kingdom (-70%), Japan (-69.2%), Belgium (-69.1%), and Norway (-63.1%).

Top Exporters of Raw Palladium

In the category of unwrought or powdered palladium, the leading exporters in 2024 were:

Russia, United States, South Africa, United Kingdom, Italy, Germany, Belgium, Hong Kong, Armenia, Switzerland, Norway, Japan, South Korea, Austria, and France.

Together, these countries accounted for 99.3% of global raw palladium exports.

Notably, South Korea was the only country to record growth in raw palladium exports since 2020, posting a 1.9% increase. Major declines were seen in Switzerland (-75.7%), Japan (-71.4%), Belgium (-69%), and Germany (-68.7%).

Top Exporters of Semi-Manufactured Palladium

The leading exporters of semi-manufactured palladium in 2024 included:

· South Africa: US$487 million (23.4%)

· Germany: $483 million (23.2%)

· Switzerland: $311.9 million (15%)

· Canada: $221.9 million (10.7%)

· Russia: $163.8 million (7.9%)

· United Kingdom: $125.1 million (6%)

· United States: $98 million (4.7%)

· Japan: $51.1 million (2.5%)

· Hong Kong: $33.9 million (1.6%)

· Italy: $19.1 million (0.92%)

· Spain: $14.6 million (0.70%)

· Singapore: $12.4 million (0.60%)

· France: $10.6 million (0.51%)

· Austria: $9.1 million (0.44%)

· Australia: $8.4 million (0.40%)

These countries collectively supplied 98.5% of all semi-manufactured palladium exports worldwide.

The fastest-growing exporters in this segment since 2020 were Russia, Australia, Spain, and Germany, while steep declines were recorded in the United Kingdom, United States, Singapore, and Austria.

Major Palladium Export Companies in 2024

According to Tendata global trade data, the following companies ranked among the top palladium exporters in 2024:

· ԴԱՅՄՈՆԴ ՍՏԱՆԴԱՐՏ ՍՊԸ (47.95%, $163.98M)

· ԱՓԹՐԵՅԴ ՍՊԸ (12.15%, $41.54M)

· Hindustan Platinum Pvt Ltd (7.38%, $25.24M)

· MCPI Private Limited (5.08%, $17.37M)

· Golden Heritage SPC (4.2%, $14.37M)

· Reliance Industries Ltd (2.96%, $10.13M)

· Ravindra Heraeus Private Limited (2.14%, $7.33M)

· OAO Krastsvetmet (2.1%, $7.18M)

· Navoiyazot JSC (1.67%, $5.71M)

· AMP Amermex (1.53%, $5.23M)