Global leading exporting countries of palladium 2022

In 2022, Russia held the title of the largest exporter of palladium in the world, with exports valued at 5.3 billion U.S. dollars. That year, Russia was also the largest producer of mined palladium worldwide with a volume of 88 metric tons produced. This means that Russia accounted for an 18.1 percent share of the total global palladium exports worldwide that year.

Global palladium demand and consumption

  Since 2018, global palladium exports have been increasing steadily worldwide. China had the largest gross demand for palladium worldwide totaling 3.1 million ounces (or 91.85 metric tons) in 2020. The industry that accounted for the largest consumption of palladium worldwide in 2022 was the automotive industry, with 241.9 metric tons of palladium used for automobile exhaust systems that year.

Russia’s palladium exports over time

As the largest exporter of palladium in the world, the value of Russian palladium exports have more than doubled from 2.8 billion in 2018 to 6.5 billion in 2021. By contrast, the mine production of palladium in Russia has only steadily increased from a of 84.7 metric tons in 2018 compared with 86 metric tons in 2021.