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721410 (Harmonized System 1992 for 6-digit)

2023
World Trade $2.14BRnk 1363 / 4644
2023
Top Exporter | Top Importer $1.27B | $1.07BMalaysia | Hong Kong
2023
Product Complexity -1.45Rnk 4236 / 4656
2022 - 2023
Export Growth (CAGR) 12.2%Rnk 555 / 4644
2023
Share of World Trade 0.0095%Rnk 1363 / 4644

About

Overview This page contains the latest trade data of Bar/rod, iron or non-alloy steel, forged. In 2023, Bar/rod, iron or non-alloy steel, forged were the world's 1363rd most traded product, with a total trade of $2.14B. Between 2022 and 2023 the exports of Bar/rod, iron or non-alloy steel, forged grew by 12.2%, from $1.9B to $2.14B. Trade in Bar/rod, iron or non-alloy steel, forged represent 0.0095% of total world trade.

Bar/rod, iron or non-alloy steel, forged are a part of Raw Iron Bars.

Exports In 2023 the top exporters of Bar/rod, iron or non-alloy steel, forged  were Malaysia ($1.27B), Saudi Arabia ($219M), China ($201M), Turkey ($47.9M), and United States ($43.8M).

Imports In 2023 the top importers of Bar/rod, iron or non-alloy steel, forged were Hong Kong ($1.07B), Singapore ($257M), Iraq ($78.3M), Germany ($70.3M), and Djibouti ($46.9M).

Ranking Bar/rod, iron or non-alloy steel, forged ranks 4236th in the Product Complexity Index (PCI).

Description The common uses of bar/rod, iron or non-alloy steel, forged are for construction and manufacturing.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Bar/rod, iron or non-alloy steel, forged. Countries are shown based on data availability.

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

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)Malaysia$1.27B
Top Destination (2023)Hong Kong$1.07B

In 2023 Bar/rod, iron or non-alloy steel, forged were the world's 1363rd most traded product (out of 4,644).

In 2023, the top exporters of Bar/rod, iron or non-alloy steel, forged were Malaysia ($1.27B), Saudi Arabia ($219M), China ($201M), Turkey ($47.9M), and United States ($43.8M).

In 2023, the top importers of Bar/rod, iron or non-alloy steel, forged were Hong Kong ($1.07B), Singapore ($257M), Iraq ($78.3M), Germany ($70.3M), and Djibouti ($46.9M).

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Exporters of Bar/rod, iron or non-alloy steel, forged (2023)
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Importers of Bar/rod, iron or non-alloy steel, forged (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Malaysia$259M
Top Destination Growth (2022 -  2023)Hong Kong$243M

Between 2022 and 2023, the exports of Bar/rod, iron or non-alloy steel, forged grew the fastest in Malaysia ($259M), Saudi Arabia ($115M), China ($24.7M), Oman ($15M), and Vietnam ($12M).

Between 2022 and 2023, the fastest growing importers of Bar/rod, iron or non-alloy steel, forged were Hong Kong ($243M), Iraq ($78.1M), Singapore ($75.5M), Lebanon ($30.4M), and Italy ($21.1M).

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Exporters of Bar/rod, iron or non-alloy steel, forged (2022 - 2023)

Importers of Bar/rod, iron or non-alloy steel, forged (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Bar/rod, iron or non-alloy steel, forged.

In 2023, market concentration measured using Shannon Entropy, was 2.54. This means that most of the exports of Bar/rod, iron or non-alloy steel, forged are explained by 5 countries.

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Value of Exports in Bar/rod, iron or non-alloy steel, forged

Net Trade

TOP NET EXPORTER (2023)Malaysia$1.25B
TOP NET IMPORTER (2023)Hong Kong$1.07B

This map shows which countries export or import more of Bar/rod, iron or non-alloy steel, forged. Each country is colored based on the difference in exports and imports of Bar/rod, iron or non-alloy steel, forged during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Bar/rod, iron or non-alloy steel, forged were Malaysia ($1.25B), Saudi Arabia ($218M), China ($198M), Turkey ($47.5M), and United Arab Emirates ($41M).

In 2023, the countries that had a largest trade value in imports than in exports of Bar/rod, iron or non-alloy steel, forged were Hong Kong ($1.07B), Singapore ($248M), Germany ($46M), Ethiopia ($42.6M), and Kuwait ($36.1M).

Net Trade (2023)

Country Comparison

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Measure
Ranking

This visualization shows the countries that have an important ratio of their trade related to Bar/rod, iron or non-alloy steel, forged.
It is possible to select the main countries that export or import Bar/rod, iron or non-alloy steel, forged in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Bar/rod, iron or non-alloy steel, forged by percentage of total exports

Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2023)

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