The Philippines Leads the World in Nickel Production

CEIC Macro Watch Global #40 - January 29, 2015 Since 2011, there has been an unprecedented nickel mining production boom in the Philippines, outgrowing traditionally large nickel producing countries such as Australia, Indonesia and Russia. According to the US Geological Survey, the Philippines’ production grew at a compound annualized growth rate (CAGR) of 40.4% between 2008 and 2013 to 440 thousand metric tons (17.7% of total world production in 2013), to become the world’s largest nickel producer during 2012 and 2013. In contrast, total world production only grew by 9.1% (CAGR) in the same period. Following the Indonesian government’s move to ban the exports of unprocessed ores, the Philippines emerged as the chief supplier of nickel ore to China’s enormous nickel pig iron (NPI) industry. The Philippine’s rise in nickel production contributed positively to its economy as gross value added (GVA) of the nickel mining sector grew to 0.19% of GDP during 2012 from 0.06% of GDP in 2008, before falling moderately to 0.15% of GDP in 2013. Its year-to-date GVA has risen again to PHP 20.97 billion (0.23% of GDP), as measured during the first nine months of 2014, surpassing its previous annual record in 2012 of PHP 19.91 billion. By Claudia Carbonell in Philippines - CEIC Analyst Discuss this post and many other topics in our LinkedIn Group (you must be a LinkedIn member to participate). Request a Free Trial Subscription. Back to Blog
30th January 2015 The Philippines Leads the World in Nickel Production