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2022
Exports $7.92BWorld Rnk 1 / 212
Flag Rnk 40 / 1217
2022
Destination $565M Turkey
2021 - 2022
FASTEST GROWING MARKET $565MIndia
2022
PRODUCT COMPLEXITY IN Scrap Iron-0.59Rnk 720 / 1025
2022
Imports $2.57BWorld Rnk 6 / 187
Flag Rnk 206 / 1216
2022
Origin $62.9M Canada
2021 - 2022
FASTEST GROWING ORIGIN $62.9MMexico
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $7.92B in Scrap Iron, making it the 1st largest exporter of Scrap Iron in the world. At the same year, Scrap Iron was the 40th most exported product in United States. The main destination of Scrap Iron exports from United States are: Turkey ($1.62B), Mexico ($1.12B), India ($987M), Bangladesh ($687M), and Chinese Taipei ($563M).

The fastest growing export markets for Scrap Iron of United States between 2021 and 2022 were India ($565M), Kuwait ($153M), and Peru ($99.1M).

Imports In 2022, United States imported $2.57B in Scrap Iron, becoming the 6th largest importer of Scrap Iron in the world. At the same year, Scrap Iron was the 206th most imported product in United States. United States imports Scrap Iron primarily from: Canada ($1.75B), Mexico ($398M), Netherlands ($175M), United Kingdom ($58.8M), and Sweden ($57.2M).

The fastest growing import markets in Scrap Iron for United States between 2021 and 2022 were Mexico ($62.9M), China ($19.7M), and Germany ($11.5M).

COMPANIES In 2023, leading companies such as CrimsonLogic (2.36k), IKEA Group (247), and Amazon (226) were at the forefront of shipping Scrap Iron to the United States.

Latest Trends

August 2024

About

Overview In August 2024 United States' Scrap Iron exports accounted up to $681M and imports accounted up to $153M, resulting in a positive trade balance of $527M. Between August 2023 and August 2024 the exports of United States'   Scrap Iron have increased by $78.1M (13%) from $602M to $681M, while imports decreased by $-11.4M (-6.92%) from $165M to $153M.

Destinations In August 2024, Scrap Iron were exported mostly to Turkey ($219M), Bangladesh ($103M), Mexico ($68.9M), India ($66.6M), and Chinese Taipei ($39.3M), and were imported mostly from Canada ($101M), Mexico ($38.8M), Poland ($13.3M), Egypt ($126k), and Chinese Taipei ($121k).

Growth In August 2024, the increase in Scrap Iron's year-by-year exports was explained primarily by an increase in exports to India ($45.8M or 171%), Vietnam ($19.3M or 167%), and Thailand ($9.79M or 58.6%). In August 2024, the decrease in Scrap Iron's year-by-year imports was explained primarily by a decrease in imports from Sweden ($-21.4M or -99.7%), Mexico ($-10.4M or -34.6%), and Canada ($-4.48M or -3.66%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$78.1M(13%)
IMPORT GROWTH (August 2023 - August 2024)$-11.4M(-6.92%)
MAIN EXPORTER (August 2024)California$155M
MAIN DESTINATION (August 2024)Turkey$219M

This section shows Scrap Iron'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 Scrap Iron over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$7.92B
IMPORTS (2022)$2.57B
NET TRADE (2022)$5.34B

In 2022, United States exported $7.92B in Scrap Iron. The main destinations of United States exports on Scrap Iron were Turkey ($1.62B), Mexico ($1.12B), India ($987M), Bangladesh ($687M), and Chinese Taipei ($563M).

In 2022, United States imported $2.57B in Scrap Iron, mainly from Canada ($1.75B), Mexico ($398M), Netherlands ($175M), United Kingdom ($58.8M), and Sweden ($57.2M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Scrap Iron EXPORT MARKETS FOR United States WERE (2021 - 2022):
India$565M (134%)
Kuwait$153M (1.01k%)
Peru$99.1M (38.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Scrap Iron BY United States WERE (2021 - 2022):
Malaysia-$308M (-60.5%)
Vietnam-$234M (-37.3%)
Saudi Arabia-$166M (-83.6%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Scrap Iron were:
Germany $5.21B
United Kingdom $3.91B
In 2022, United States's main importing competitors in Scrap Iron were:
Turkey $8.77B
India $5.65B
Belgium $2.84B

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Trade Value of Scrap Iron by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $142M
TOP IMPORT POTENTIALUnited Kingdom+ $49M

Scrap Iron’s highest export potential is India. With an export gap of $142M.   Scrap Iron’s highest import potential is United Kingdom with an import gap of $49M.

See methodology.

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