Year over year, the value of iodine exports worldwide flatlined thanks to an average -1.4% reduction compared to $1.13 billion for 2020.
Iodine is a chemical element used in chemistry-related analysis, wavelength measurements via spectroscopy, and in spacecraft propulsion including ion-thrust technology in small spacecraft.
More commonly known are iodine’s medical applications. Iodine is used to treat and prevent iodine deficiency. It is also an effective disinfectant for wounds and serves as a sterilizing skin preparation before surgery.
Key Geographic Insights about Iodine Exports
By value, the world’s 5 most lucrative iodine exporters are Chile, Belgium, Japan, United States of America, and the Netherlands. Collectively, those 5 major suppliers generated 93.3% of the overall dollar spend on exported iodine during 2021. Such a high percentage indicates a highly concentrated cohort of supplying countries.
Among continents, iodine suppliers located in Latin America excluding Mexico but including the Caribbean exported the highest dollar worth of iodine during 2021 with shipments valued at $615.9 million or 55.2% of the worldwide total. In second place were iodine exporters in Europe at 22.1%, trailed by suppliers in Asia at 18.1%, with another 4.6% coming from providers in North America.
Tinier percentages were furnished by iodine exporters in Oceania (0.06%) Australia and New Zealand only, as well as shippers in Africa (0.01%).
For research purposes, the 6-digit Harmonized Tariff System code prefix for iodine is 280120.
Top Iodine Exports by Country
Below are the 25 countries that exported the highest dollar value worth of iodine during 2021.
- Chile: US$606 million (54.3% of total iodine exports)
- Belgium: $194.4 million (17.4%)
- Japan: $151.3 million (13.5%)
- United States: $51 million (4.6%)
- Netherlands: $39.3 million (3.5%)
- Iran: $15.6 million (1.4%)
- Turkmenistan: $12.8 million (1.2%)
- United Arab Emirates: $6 million (0.5%)
- Azerbaijan: $5.4 million (0.5%)
- Brazil: $5.3 million (0.5%)
- British Virgin Islands: $4.4 million (0.4%)
- India: $4.4 million (0.4%)
- United Kingdom: $3.8 million (0.3%)
- France: $3.2 million (0.3%)
- Singapore: $2.8 million (0.3%)
- Italy: $2.5 million (0.2%)
- Germany: $2.3 million (0.2%)
- South Korea: $1.4 million (0.1%)
- Indonesia: $858,000 (0.1%)
- Turkey: $596,000 (0.1%)
- Australia: $578,000 (0.1%)
- Taiwan: $481,000 (0.04%)
- Czech Republic: $314,000 (0.03%)
- Canada: $309,000 (0.03%)
- Spain: $268,000 (0.02%)
By value, the listed 25 countries shipped 99.9% of globally exported iodine in 2021.
Among the top exporters, the fastest-growing iodine exporters since 2020 were: Czech Republic (up 823.5%), Australia (up 194.9%), Germany (up 121%) and Spain (up 97.1%).
Those countries that posted declines in their exported iodine sales were led by: Turkey (down -92.6%), Singapore (down -60.8%), United Arab Emirates (down -49.3%), United Kingdom (down -47.9%), Taiwan (down -45.9%), Turkmenistan (down -36.7%) and Canada (down -26.4%).
Countries Generating Greatest Surpluses from Global Iodine Trade
The following countries posted the highest positive net exports for iodine during 2021. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the surplus between the value of each country’s exported iodine and its import purchases for that same commodity.
- Chile: $606 million (down -7.8% since 2020)
- Japan: $147.2 million (up 12.6%)
- Belgium: $60.5 million (up 4,467%)
- Netherlands: $37.5 million (up 596.5%)
- Iran: $15.6 million (up 73.3%)
- Turkmenistan: $12.8 million (down -36.7%)
- Azerbaijan: $5.4 million (up 3.5%)
- British Virgin Islands: $4.4 million (up 56.9%)
- United Arab Emirates: $1.1 million (reversing a -$3.9 million deficit)
- Indonesia: $749,000 (up 5.3%)
- Turkey: $296,000 (up 114.5%)
- Czech Republic: $68,000 (reversing a -$76,000 deficit)
- Lebanon: $38,000 (reversing an -$18,000 deficit)
- Kazakhstan: $8,000 (reversing a -$108,000 deficit)
Chile earned the highest surplus in the international trade of iodine. In turn, this positive cashflow confirms the strong Chilean competitive advantage for this specific product category.
Countries Incurring Biggest Deficits from Global Iodine Trade
The following countries posted the highest negative net exports for iodine during 2021. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the deficit between the value of each country’s imported iodine purchases and its exports for that same commodity.
- China: -US$221.8 million (down -0.1% since 2020)
- Norway: -$137.8 million (up 25.5%)
- India: -$107.4 million (up 5%)
- United States: -$83.7 million (down -17.1%)
- Italy: -$62.3 million (down -9.3%)
- Germany: -$53.1 million (down -12.8%)
- France: -$48.3 million (up 46.1%)
- Brazil: -$36.2 million (up 46.1%)
- United Kingdom: -$29.4 million (up 39.2%)
- Canada: -$16 million (up 57.2%)
- Spain: -$11.5 million (down -20.3%)
- Vietnam: -$8.9 million (up 94.7%)
- Russia: -$7.9 million (down -0.6%)
- South Korea: -$5.8 million (up 5.5%)
- Afghanistan: -$4.1 million (up 84.3%)
Mainland China incurred the highest deficit in the international trade of iodine. In turn, this negative cashflow highlights China’s competitive disadvantage for this specific product category but also signals opportunities for iodine-supplying countries that help satisfy the powerful Chinese demand.
Major Exporters by Greatest Volume of Iodine Shipments by Weight
The following ranking reveals which counties exported the biggest volumes of iodine during 2021 in terms of shipment tonnage.
By weight, the 15 major suppliers below generated 98.7% of the total 34,320 tons of globally exported iodine in 2021.
- Chile: 18,129 tons of iodine (52.8% of world’s total)
- Belgium: 5,414 tons (15.8%)
- Japan: 5,066 tons (14.8%)
- United States: 1,826 tons (5.3%)
- Netherlands: 1,136 tons (3.3%)
- Iran: 618 tons (1.8%)
- Turkmenistan: 418 tons (1.2%)
- South Korea: 219 tons (0.6%)
- United Arab Emirates: 180 tons (0.5%)
- United Kingdom: 178 tons (0.5%)
- Azerbaijan: 178 tons (0.5%)
- Brazil: 149 tons (0.4%)
- British Virgin Islands: 144 tons (0.4%)
- India: 115 tons (0.3%)
- France: 95 tons (0.3%)
The world’s leading seller of exported iodine by dollar value, Chile is also the pre-eminent iodine exporter in terms of shipment volume.
Posting double-digit percentage growth among the top iodine shippers by weight were the British Virgin Islands (up 71.4% from 2020), Iran (up 60.9), Brazil (up 28.4%), Belgium (up 21.6%), Netherlands (up 15.9%), then the United States of America (up 14.1%).
Leading decliners year over year were the United Arab Emirates (down -50.7%), Turkmenistan (down -40.9%), India (down -22.3%), France (down -21.5%), and the United Kingdom (down -19.8%).
Average Unit Prices for Iodine Exports
Below are the iodine exporters charging the lowest average unit prices per ton in 2021. The world average unit price was $32,532 per ton, up by 1.6% from $32,008 per ton for 2020.
New Zealand charges the lowest unit prices for iodine sold on global markets, coming in at less than 5% of the world average price.
- New Zealand: US$1,514 per ton of iodine (down -21.6% from 2020)
- Ireland: $1,667 per ton (2020 data unavailable)
- Bulgaria: $2,462 per ton (2020 data unavailable)
- Malaysia: $5,000 per ton (2020 data unavailable)
- Uganda: $6,000 per ton (2020 data unavailable)
- South Africa: $6,188 per ton (down -10.8%)
- South Korea: $6,438 per ton (up 89.9%)
- Switzerland: $8,000 per ton (down -90.5%)
- Lebanon: $8,200 per ton (2020 data unavailable)
- Spain: $9,926 per ton (up 556.9%)
- Guatemala: $11,600 per ton (down -0.3%)
- Austria: $17,000 per ton (up 6.3%)
- Poland: $19,333 per ton (down -48.4%)
- Taiwan: $20,042 per ton (up 10.5%)
- United Kingdom: $21,410 per ton (down -35.1%)
- Russia: $24,556 per ton (up 42.4%)
There were 5 double-digit decliners in the per-ton price for exported iodine among the above low-cost suppliers: Switzerland (down -90.5% from 2020), Poland (down -48.4%), United Kingdom (down -35.1%), New Zealand (down -21.6%), and South Africa (down -10.8%).
The following 15 iodine exporters demanded the highest average unit prices per ton in 2021.
- Germany: US$209,545 per ton of iodine (up 161.2% from 2020)
- Czech Republic: $44,857 per ton (up 31.9%)
- Sweden: $41,000 per ton (up 51.9%)
- India: $37,904 per ton (up 7.5%)
- Latvia: $37,000 per ton (down -26.7%)
- Belgium: $35,908 per ton (down -0.7%)
- Brazil: $35,799 per ton (up 0.3%)
- Italy: $35,761 per ton (up 2.2%)
- Netherlands: $34,566 per ton (down -1.9%)
- Indonesia: $34,320 per ton (up 5.2%)
- France: $33,789 per ton (up 15.7%)
- Chile: $33,428 per ton (down -0.1%)
- United Arab Emirates: $33,117 per ton (up 2.7%)
- Singapore: $32,598 per ton (up 1.9%)
- Turkmenistan: $30,734 per ton (up 7.1%)
- British Virgin Islands: $30,500 per ton (down -8.4%)
The strongest advances in unit prices for exported iodine were charged by: Germany (up 161.2% from 2020), Sweden (up 51.9%), Czech Republic (up 31.9%) and France (up 15.7%).
Iodine Export Suppliers
Below are 5 sample iodine suppliers with headquarters in mainland China.
- Dalian Daping Oil Chemicals
- Qingdao Hainuo Biological Engineering
- Shandong Xiju Biotechnology
- Wuhan Lullaby Biotechnology
- Wuxi Volksky New Materials
See also Top Salt Exports & Imports by Country Plus Average Prices, Top Garlic Exports by Country, Top Ginger Exporters and Top Antibiotics Exporters by Country
Research Sources:
Alibaba, Iodine Suppliers and Manufacturers. Accessed on November 18, 2022
Central Intelligence Agency, The World Factbook Field Listing: Exports – Commodities. Accessed on November 18, 2022
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on November 18, 2022
International Trade Centre, Trade Map. Accessed on November 18, 2022
Investopedia, Net Exports Definition. Accessed on November 18, 2022
Wikipedia, Iodine (medicinal use). Accessed on November 18, 2022