HS Code:
The tungsten category (HS Code: 8101) includes tungsten (wolfram) and articles thereof, including waste and scrap. Tungsten is a critical industrial metal known for its high melting point and strength, widely used in manufacturing, electronics, and military applications. It is primarily traded in the form of ores, concentrates, and refined products like tungsten carbide.
Total Trade Volume
USD 3.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.8 billion
56.3% of total trade of total trade
Increasing
USD 0.3 billion
9.4% of total trade of total trade
Increasing
USD 0.25 billion
7.8% of total trade of total trade
Stable
USD 0.2 billion
6.3% of total trade of total trade
Decreasing
USD 0.15 billion
4.7% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
15% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for tungsten in renewable energy applications
Increased trade volume due to tungsten's use in wind turbine components and battery technologies
2021-2022
Supply chain diversification away from China
Growing investments in tungsten mining in countries like Vietnam and Rwanda to reduce dependency on Chinese exports
2020-2022
Price volatility due to geopolitical tensions
Fluctuations in tungsten prices impacting trade stability, especially with sanctions on Russian exports
2022
China introduced stricter export quotas on tungsten products to prioritize domestic industrial needs and maintain market control.
March 2023
Potential price increases and supply shortages for importing countries; push for alternative suppliers.
The United States included tungsten in its updated critical minerals list, promoting domestic production and reducing reliance on imports.
June 2022
Increased funding for domestic tungsten mining and potential reduction in import volumes.
The EU-Vietnam FTA has reduced tariffs on tungsten products, facilitating increased exports from Vietnam to Europe.
August 2022
Strengthened trade ties and diversification of supply chains for European manufacturers.