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Pricing

2022
Exports $62.5MWorld Rnk 19 / 91
Flag Rnk 489 / 1216
2022
Destination $3.53M Netherlands
2021 - 2022
FASTEST GROWING MARKET $3.53MSouth Korea
2022
PRODUCT COMPLEXITY IN Steel Ingots0.23Rnk 480 / 1025
2022
Imports $60.9MWorld Rnk 18 / 163
Flag Rnk 700 / 1214
2022
Origin $9.92M Germany
2021 - 2022
FASTEST GROWING ORIGIN $9.92MSpain
2022
ECONOMIC COMPLEXITY of United Kingdom1.42Rnk 12 / 133

About

Exports In 2022, United Kingdom exported $62.5M in Steel Ingots, making it the 19th largest exporter of Steel Ingots in the world. At the same year, Steel Ingots was the 489th most exported product in United Kingdom. The main destination of Steel Ingots exports from United Kingdom are: Netherlands ($38.4M), United States ($5.93M), Italy ($4.82M), South Korea ($3.75M), and China ($2.99M).

The fastest growing export markets for Steel Ingots of United Kingdom between 2021 and 2022 were South Korea ($3.53M), Italy ($3.2M), and United States ($2.38M).

Imports In 2022, United Kingdom imported $60.9M in Steel Ingots, becoming the 18th largest importer of Steel Ingots in the world. At the same year, Steel Ingots was the 700th most imported product in United Kingdom. United Kingdom imports Steel Ingots primarily from: Germany ($21.3M), Spain ($12.6M), Turkey ($6.85M), Italy ($4.51M), and Poland ($3.05M).

The fastest growing import markets in Steel Ingots for United Kingdom between 2021 and 2022 were Spain ($9.92M), Germany ($7.48M), and Poland ($1.64M).

Latest Trends

October 2024

About

Overview In October 2024 United Kingdom's Steel Ingots exports accounted up to £4.48M and imports accounted up to £23.7M, resulting in a negative trade balance of £19.2M. Between October 2023 and October 2024 the exports of United Kingdom's   Steel Ingots have increased by £2.67M (148%) from £1.81M to £4.48M, while imports increased by £20.2M (582%) from £3.48M to £23.7M.

Destinations In October 2024, Steel Ingots were exported mostly to Italy (£2.41M), India (£786k), Canada (£340k), Netherlands (£208k), and United States (£185k), and were imported mostly from India (£15M), Netherlands (£4.87M), Spain (£1.19M), Brazil (£697k), and Germany (£401k).

Growth In October 2024, the increase in Steel Ingots's year-by-year exports was explained primarily by an increase in exports to Italy (£245k or 558%), India (£93.1k or 1.91k%), and Norway (£31.6k or 179%). In October 2024, the increase in Steel Ingots's year-by-year imports was explained primarily by an increase in imports from Italy (£515k or 114%), Turkey (£412k or 130%), and United States (£332k or 279%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)£2.67M(148%)
IMPORT GROWTH (October 2023 - October 2024)£20.2M(582%)
MAIN EXPORTER (October 2024)Immingham£2.48M
MAIN DESTINATION (October 2024)Italy£2.41M

This section shows Steel Ingots's exports and imports data at subnational level for United Kingdom. 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 Steel Ingots over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$62.5M
IMPORTS (2022)$60.9M
NET TRADE (2022)$1.57M

In 2022, United Kingdom exported $62.5M in Steel Ingots. The main destinations of United Kingdom exports on Steel Ingots were Netherlands ($38.4M), United States ($5.93M), Italy ($4.82M), South Korea ($3.75M), and China ($2.99M).

In 2022, United Kingdom imported $60.9M in Steel Ingots, mainly from Germany ($21.3M), Spain ($12.6M), Turkey ($6.85M), Italy ($4.51M), and Poland ($3.05M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Steel Ingots EXPORT MARKETS FOR United Kingdom WERE (2021 - 2022):
South Korea$3.53M (1.59k%)
Italy$3.2M (198%)
United States$2.38M (67.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Steel Ingots BY United Kingdom WERE (2021 - 2022):
Belgium-$8.34M (-99.8%)
Netherlands-$6.53M (-14.5%)
Singapore-$366k (-93%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United Kingdom's main exporting competitors in Steel Ingots were:
Brazil $811M
Germany $381M
Italy $359M
In 2022, United Kingdom's main importing competitors in Steel Ingots were:
United States $1.68B
Germany $387M
Italy $358M

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Trade Value of Steel Ingots by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $4.94M
TOP IMPORT POTENTIALItaly+ $2.38M

Steel Ingots’s highest export potential is United States. With an export gap of $4.94M.   Steel Ingots’s highest import potential is Italy with an import gap of $2.38M.

See methodology.

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