Highlights

• The EU imported 12,900 tonnes of rare earth elements in 2024, marking a 29.3% year-over-year decrease.
• China, Russia, and Malaysia supplied over 94% of the EU's rare earth element imports, highlighting concentrated supply risks.
• The sharp import decline signals potential demand shifts, trade disruptions, and the need for domestic supply chain resilience.

The European Union imported 12,900 tonnes of rare earth elements (REE+) in 2024, marking a significant 29.3% year-over-year decrease, according to new Eurostat trade data (opens in a new tab). Exports from the EU remained relatively stable at 5,500 tonnes, down just 0.8% from the previous year.

China maintained its position as the EU’s largest REE supplier, accounting for 46.3% of all imports (6,000 tonnes), followed by Russia (3,700 tonnes) and Malaysia (2,600 tonnes). These three countries supplied over 94% of total REE imports, reinforcing the EU’s continued dependence on a concentrated supplier base.

Rare earth elements—critical to green energy, advanced electronics, medical devices, and defense systems—remain on the EU’s strategic raw materials list due to their high supply risk. The sharp import decline raises questions about the underlying causes, including possible demand slowdowns, stockpiling behavior, trade disruptions, or early effects of China’s tightening export policies.

Notably absent from current reporting are granular insights into which specific REEs saw the steepest declines, what portion of imports were refined versus unrefined materials, and whether recycling or domestic production contributed to offsetting import needs. There is also no data yet on price shifts or industry stock levels—key indicators of supply stress.

While the EU has announced plans to build a more resilient rare earth supply chain under the Critical Raw Materials Act, today’s figures underscore the urgent need for domestic processing capacity, strategic reserves, and transparent trade monitoring systems.