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2023
Exports $66.2BWorld Rnk 1 / 219
Flag Rnk 11 / 96
2023
Destination $1.11B South Korea
2022 - 2023
FASTEST GROWING MARKET $1.11BVietnam
2023
PRODUCT COMPLEXITY IN Iron & steel1.66Rnk 26 / 1025
2023
Imports $35.2BWorld Rnk 1 / 224
Flag Rnk 13 / 96
2023
Origin $442M Indonesia
2022 - 2023
FASTEST GROWING ORIGIN $442MSouth Africa
2023
ECONOMIC COMPLEXITY of China1.16Rnk 21 / 132

About

Exports In 2023, China exported $66.2B in Iron & steel, making it the 1st largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 11th most exported product in China. The main destination of Iron & steel exports from China are: South Korea ($6.3B), Vietnam ($6.08B), Thailand ($3.44B), Turkey ($3.14B), and Indonesia ($3B).

The fastest growing export markets for Iron & steel of China between 2022 and 2023 were Vietnam ($1.11B), India ($771M), and United Arab Emirates ($708M).

Imports In 2023, China imported $35.2B in Iron & steel, becoming the 1st largest importer of Iron & steel in the world. At the same year, Iron & steel was the 13th most imported product in China. China imports Iron & steel primarily from: Indonesia ($17.7B), Japan ($3.42B), South Korea ($2.68B), South Africa ($1.74B), and Brazil ($1.38B).

The fastest growing import markets in Iron & steel for China between 2022 and 2023 were South Africa ($442M), Dominican Republic ($105M), and Thailand ($76.5M).

COMPANIES In 2024, leading companies such as TPV Tech (1.57k), CrimsonLogic (456), and Asus Computer (338) were at the forefront of shipping Iron & steel from China to the United States.

Latest Trends

December 2024

About

Overview In December 2024 China's Iron & steel exports accounted up to $5.86B and imports accounted up to $2.9B, resulting in a positive trade balance of $2.96B. Between December 2023 and December 2024 the exports of China's   Iron & steel have increased by $748M (14.6%) from $5.11B to $5.86B, while imports decreased by $-300M (-9.36%) from $3.2B to $2.9B.

Destinations In December 2024, Iron & steel were exported mostly to Vietnam ($529M), South Korea ($416M), Indonesia ($297M), Saudi Arabia ($280M), and Thailand ($277M), and were imported mostly from Indonesia ($1.64B), Japan ($269M), South Korea ($241M), South Africa ($137M), and Brazil ($125M).

Growth In December 2024, the increase in Iron & steel's year-by-year exports was explained primarily by an increase in exports to Vietnam ($340M or 128%), Turkey ($79.4M or 41.2%), and United Arab Emirates ($76.3M or 40%). In December 2024, the decrease in Iron & steel's year-by-year imports was explained primarily by a decrease in imports from South Korea ($-50M or -18.7%), Japan ($-40.2M or -14.2%), and Colombia ($-30.9M or -71.1%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$748M(14.6%)
IMPORT GROWTH (December 2023 - December 2024)$-300M(-9.36%)
MAIN EXPORTER (December 2024)Guangdong Province$2.37B
MAIN DESTINATION (December 2024)Vietnam$529M

This section shows Iron & steel's exports and imports data at subnational level for China. 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 (2023)$66.2B
IMPORTS (2023)$35.2B
NET TRADE (2023)$31B

In 2023, China exported $66.2B in Iron & steel. The main destinations of China exports on Iron & steel were South Korea ($6.3B), Vietnam ($6.08B), Thailand ($3.44B), Turkey ($3.14B), and Indonesia ($3B).

In 2023, China imported $35.2B in Iron & steel, mainly from Indonesia ($17.7B), Japan ($3.42B), South Korea ($2.68B), South Africa ($1.74B), and Brazil ($1.38B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR China WERE (2022 - 2023):
Vietnam$1.11B (22.4%)
India$771M (44.1%)
United Arab Emirates$708M (46%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY China WERE (2022 - 2023):
Italy-$657M (-26.7%)
United States-$396M (-39.1%)
Japan-$378M (-21.3%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, China's main exporting competitors in Iron & steel were:
Germany $32.6B
Japan $31.6B
In 2023, China's main importing competitors in Iron & steel were:
United States $33.1B
Germany $27.8B

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $1.45B
TOP IMPORT POTENTIALIndia+ $772M

Iron & steel’s highest export potential is India. With an export gap of $1.45B.   Iron & steel’s highest import potential is India with an import gap of $772M.

See methodology.

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