Australia is the world’s biggest exporter and producer of one of the critical minerals called—‘lithium’. The critical mineral that is also responsible for the mechanism of electric vehicles is also one of the highly valuable minerals in today’s global markets.
Australia is at the forefront of the lithium market, accounting for about one-third of the world’s lithium production. The exports of lithium from Australia are also growing at a rapidly escalating rate. However, Australia will shift its export market from Western nations to Asian nations, specifically the countries on the Indian subcontinent.
Australia’s Lithium Exports
Considering the magnanimous amount of lithium exports by Australia to countries around the world, the Australian government has not disclosed much about it. However, going deeper into the global trade database, the value of exports is available for the years 2021 and 2022.
According to the available latest Australia export data, Australia’s lithium exports for the year 2021 amounted to a total value of $1.26 billion and 2022 amounted to a total value of $8.22 billion, representing an increase in the exports of $6.9 billion with 549.24% by percentage.
Australia’s Top Export Markets
According to export data of Australia for 2022, the top partner countries for Australia’s lithium exports include—China ($8.01 billion), followed by Belgium ($99.72 million), South Korea ($75.77 million), the United States of America ($24.74 million), and Taipei ($2 million).
The top exporting destinations for Australia’s lithium exports consist of a very limited number of partner countries due to the very high percentage of lithium exports already going to China. However, taking a close look at the data, Asian countries are the most recurring ones.
Top Partner Countries In Asia
The exports of lithium from Australia to Asian countries have been the highest since about 97% of the total lithium exports by Australia go to China alone among all Australia’s partner countries, as per what the latest available data reveals for the year 2022.
The top Asian countries with Australia’s lithium exports for the year 2022 are—China ($8 billion), followed by South Korea ($75.7 million), Taipei ($2 million), Japan ($1.2 million), and Thailand ($527 thousand). The aggregate of Asia for Australia’s lithium exports amounted to $8.09 billion.
Lithium Exports To China
China is at the forefront of Australia’s top export destinations for its exports of the critical mineral—lithium. The Chinese market is among the top lithium-ion batteries that utilize lithium for the production of batteries, which is used in the electronics industry for manufacturing EVs.
The exports of Australian lithium concentrates have grown higher in the Chinese market for the year 2022 compared to the year 2021. Australian lithium exports to China amounted to $1.1 billion in 2021 and $8 billion in 2022 respectively, representing an increase of $6.8 billion.
Lithium Exports To India
The exports of lithium from Australia to Asian countries are reportedly likely to grow in recent years as the Australian authorities have made a decision to increase bilateral trade with Asian countries, especially India since the market for lithium is expected to grow in Asia the most.
The exports of lithium from Australia account for the highest for Asia already and it will be certain that the market of lithium exports for Australia will go and grow further in the region, specifically targeting the Indian subcontinent due to its growth potential.
The lithium exports of Australia to India are very low and insignificant in comparison to other countries, lying in the range of mere thousands. Albeit this, the exports of Australian lithium to India rank at the 11th position among all the top export markets, and it will grow further.