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2022
Exports | Imports $21.2B | $43.2BWorld Rnk 6 / 223
Flag Rnk 16 / 96
World Rnk 1 / 225
Flag Rnk 15 / 96
2021 - 2022
FASTEST GROWING MARKET | FASTEST GROWING ORIGIN $1.12B | $734MMexico |  Mexico
2022
ECONOMIC COMPLEXITY of United States1.41Rnk 10 / 124
2022
PRODUCT COMPLEXITY IN Iron & steel1.48Rnk 45 / 1025

About

Exports In 2022, United States exported $21.2B in Iron & steel, making it the 6th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 16th most exported product in United States. The main destination of Iron & steel exports from United States are: Mexico ($6.84B), Canada ($5.51B), Turkey ($1.7B), India ($1.04B), and Bangladesh ($690M).

The fastest growing export markets for Iron & steel of United States between 2021 and 2022 were Mexico ($1.12B), Canada ($877M), and India ($576M).

Imports In 2022, United States imported $43.2B in Iron & steel, becoming the 1st largest importer of Iron & steel in the world. At the same year, Iron & steel was the 15th most imported product in United States. United States imports Iron & steel primarily from: Canada ($9.9B), Mexico ($4.77B), Brazil ($4.69B), South Korea ($2.36B), and Germany ($1.52B).

The fastest growing import markets in Iron & steel for United States between 2021 and 2022 were Mexico ($734M), Canada ($676M), and Germany ($545M).

COMPANIES In 2023, leading companies such as AMAZON SERVICES LLC (30.3k), IKEA SUPPLY AG (27.6k), and ROBERT BOSCH TOOL CORPORATION (20.5k) were at the forefront of shipping Iron & steel to the United States.

Latest Trends

January 2024

About

Overview In January 2024 United States' Iron & steel exports accounted up to $1.57B and imports accounted up to $2.83B, resulting in a negative trade balance of $1.26B. Between January 2023 and January 2024 the exports of United States'   Iron & steel have increased by $8.76M (0.56%) from $1.56B to $1.57B, while imports increased by $75.5M (2.74%) from $2.75B to $2.83B.

Destinations In January 2024, Iron & steel were exported mostly to Mexico ($643M), Canada ($460M), Turkey ($85.1M), India ($47.2M), and Taiwan ($40.4M), and were imported mostly from Canada ($748M), Brazil ($466M), Mexico ($335M), South Korea ($130M), and Japan ($117M).

Growth In January 2024, the increase in Iron & steel's year-by-year exports was explained primarily by an increase in exports to India ($53.7M or 179%), Canada ($26.5M or 5.78%), and Vietnam ($20.8M or 167%). In January 2024, the increase in Iron & steel's year-by-year imports was explained primarily by an increase in imports from Germany ($60.4M or 80.4%), Italy ($26.2M or 91.5%), and Spain ($25.9M or 144%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (January 2023 - January 2024)$8.76M(0.56%)
IMPORT GROWTH (January 2023 - January 2024)$75.5M(2.74%)
MAIN EXPORTER (January 2024)Texas$204M
MAIN DESTINATION (January 2024)Mexico$643M

This section shows Iron & steel's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Iron & steel over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$21.2B
IMPORTS (2022)$43.2B
NET TRADE (2022)-$21.9B

In 2022, United States exported $21.2B in Iron & steel. The main destinations of United States exports on Iron & steel were Mexico ($6.84B), Canada ($5.51B), Turkey ($1.7B), India ($1.04B), and Bangladesh ($690M).

In 2022, United States imported $43.2B in Iron & steel, mainly from Canada ($9.9B), Mexico ($4.77B), Brazil ($4.69B), South Korea ($2.36B), and Germany ($1.52B).

Explore Visualizations

Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR United States WERE (2021 - 2022):
Mexico$1.12B (19.5%)
Canada$877M (19%)
India$576M (124%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY United States WERE (2021 - 2022):
Malaysia-$292M (-54.5%)
Saudi Arabia-$166M (-82.1%)
Vietnam-$121M (-18.8%)
Explore Visualizations

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Iron & steel were:
China $69.8B
Germany $36.9B
Japan $35.7B
In 2022, United States's main importing competitors in Iron & steel were:
China $41.4B
Germany $36B

Explore Visualizations

Trade Value of Iron & steel by Exporters

Keep Exploring

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