The analysis of customs statistics shows that in the first seven months of 2023, China's rare earth exports will continue to grow, while the monthly export volume will fluctuate significantly due to events.

During the nine years from 2015 to 2023, the overall export volume in July showed (event-like) fluctuations. In August 2019, the "Resource Tax Law of the People's Republic of China" was passed; in January 2021, the "Regulations on the Management of Rare Earths (Draft for Comment)" was publicly released for comments; since 2018, the US tariff war (economic war) has been intertwined with the new crown pneumonia epidemic ... and other factors lead to abnormal changes in China's rare earth export data, that is, event fluctuations.

July (2015-2023) China's rare earth exports and year-on-year statistics and trends

From 2015 to 2019, the export volume in July has increased steadily, reaching the highest growth rate of 15.8% in 2019. Since 2020, under the influence of the outbreak and recession of the new crown pneumonia epidemic and the escalation of tariff wars (worries about China's export restrictions), China's rare earth exports have fluctuated sharply - a sharp decrease of 69.1% in 2020 and a sharp increase of 49.2% in 2023.

From January 2015 to July 2023, China's rare earth export volume and month-on-month trend

Under the same export environment, from January to July 2023, China's rare earth export volume was 31,661.6 tons, a year-on-year increase of 6% and continued to grow; from January to July 2022, China exported a total of 29,865.9 tons of rare earths, a year-on-year increase of 7.5% %.

It is worth noting that until May 2023, the cumulative monthly export growth rate of China's rare earths in 2023 was once negative (fluctuating around -6%). By June 2023, the monthly cumulative export volume will start to turn positive.

From April to July 2023, China's monthly export volume of rare earths has increased month-on-month for four consecutive months.

In July 2023, China's rare earth exports exceeded 5,000 tons (a small number), a new high since April 2020.