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Rare earth elements

Neodymium (Nd)

Neodymium-iron-boron permanent magnets for EV motors, wind turbines, electronics and defence systems.

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Atomic number
60
Period · group
6 · Lanthanide
Block
f-block

Why it is critical

Mining and especially separation and magnet manufacturing are highly concentrated in a small number of countries.

Who trades rare earths

$8.1 bn of rare earths products crossed borders in 2024: intermediates $5.0 bn · chemicals $2.6 bn · refined metal $516 m.

Largest exporters

  1. 1China$3.6 bn45%
  2. 2Myanmar$818 m10%
  3. 3Japan$666 m8%
  4. 4Vietnam$521 m6%
  5. 5Malaysia$462 m6%
  6. 6Philippines$289 m4%
  7. 7Laos$260 m3%
  8. 8Germany$259 m3%

Largest importers

  1. 1China$1.5 bn19%
  2. 2Japan$1.1 bn13%
  3. 3Germany$677 m8%
  4. 4United States of America$669 m8%
  5. 5Vietnam$612 m8%
  6. 6South Korea$404 m5%
  7. 7Philippines$358 m4%
  8. 8Malaysia$253 m3%

Trade values in current US dollars (ores, concentrates, intermediates, chemicals and refined metal), not prices. Source: CEPII BACI (HS22), Etalab Open Licence 2.0 — details.