2023
Exports
$701MWorld Rnk 2 / 99
Flag Rnk 123 / 1212
2023
PRODUCT COMPLEXITY IN Iron Reductions
-1.12Rnk 860 / 1025
2023
Imports
$256MWorld Rnk 7 / 142
Flag Rnk 277 / 1208
2023
ECONOMIC COMPLEXITY of India
0.65Rnk 39 / 132

About

Exports In 2023, India exported $701M in Iron Reductions, making it the 2nd largest exporter of Iron Reductions in the world. At the same year, Iron Reductions was the 123rd most exported product in India. The main destination of Iron Reductions exports from India are: Nepal ($309M), Oman ($175M), Bangladesh ($155M), Bhutan ($39.3M), and Saudi Arabia ($15.8M).

The fastest growing export markets for Iron Reductions of India between 2022 and 2023 were Oman ($175M), Nepal ($50.2M), and Bhutan ($7.74M).

Imports In 2023, India imported $256M in Iron Reductions, becoming the 7th largest importer of Iron Reductions in the world. At the same year, Iron Reductions was the 277th most imported product in India. India imports Iron Reductions primarily from: Russia ($178M), Qatar ($39.3M), Libya ($18.6M), South Africa ($7.04M), and Bahrain ($5.2M).

The fastest growing import markets in Iron Reductions for India between 2022 and 2023 were Russia ($178M), Libya ($18.6M), and Qatar ($17M).

COMPANIES In 2023, leading companies such as Givaudan Fragrances (1) were at the forefront of shipping Iron Reductions from India to the United States.

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Iron Reductions. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$701M
IMPORTS (2023)$256M
NET TRADE (2023)$445M

In 2023, India exported $701M in Iron Reductions. The main destinations of India exports on Iron Reductions were Nepal ($309M), Oman ($175M), Bangladesh ($155M), Bhutan ($39.3M), and Saudi Arabia ($15.8M).

In 2023, India imported $256M in Iron Reductions, mainly from Russia ($178M), Qatar ($39.3M), Libya ($18.6M), South Africa ($7.04M), and Bahrain ($5.2M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron Reductions EXPORT MARKETS FOR India WERE (2022 - 2023):
Oman$175M (1%)
Nepal$50.2M (19.4%)
Bhutan$7.74M (24.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Reductions BY India WERE (2022 - 2023):
Bangladesh-$17.6M (-10.2%)
Singapore-$7.43M (-100%)
Thailand-$2.85M (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, India's main exporting competitors in Iron Reductions were:
In 2023, India's main importing competitors in Iron Reductions were:

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Trade Value of Iron Reductions by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $5.34M
TOP IMPORT POTENTIALChina+ $1M

Iron Reductions’s highest export potential is China. With an export gap of $5.34M.   Iron Reductions’s highest import potential is China with an import gap of $1M.

See methodology.

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