The Global Minerals Chain From Exporting Economies to Industrial Consumers
There are two distinct roles in the global minerals system: upstream exporters and downstream manufacturing hubs, whose demand for resources continues to rise.
There are two distinct roles in the global minerals system: upstream exporters and downstream manufacturing hubs, whose demand for resources continues to rise.
In 2024, the top ten importers bought nearly USD 700 billion more than the top ten exporters supplied.
China’s import intensity peaked in 2006 and has steadily declined since then as domestic production capacity and internal demand expanded.
China’s trade as a share of GDP rose from 20% in 1980 to a peak of 64% in 2006 before falling to 37% in 2024 as the economy shifted toward domestic consumption.
China’s rise from a minor exporter to the centre of global manufacturing redefined world trade flows, reshaped supply chains and forced the global economy to evolve.
China’s accession to the WTO accelerated its shift from the “workshop of the world” to a central node of manufacturing, production and demand.
As the world’s leading importer, U.S. imports over nearly four decades have reflected the evolving patterns of global trade.
India’s trade deficit widened to a record USD 41.7 billion in October 2025, driven by a sharp jump in gold imports to USD 14.7 billion.
Metals, agricultural goods and food products led export gains, while food, textiles and manufactured inputs rose fastest on the import side.
China dominates steel production, accounting for 53% of global output and nearly 1 in 5 dollars of steel exports in 2024.