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721440 (Harmonized System 1992 for 6-digit)

2023
World Trade $5.21BRnk 700 / 4644
2023
Top Exporter | Top Importer $759M | $627MChina | Germany
2023
Product Complexity -0.51Rnk 3238 / 4656
2022 - 2023
Export Growth (CAGR) -13.9%Rnk 3130 / 4644
2023
Share of World Trade 0.023%Rnk 700 / 4644

About

Overview This page contains the latest trade data of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes. In 2023, Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes were the world's 700th most traded product, with a total trade of $5.21B. Between 2022 and 2023 the exports of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes decreased by -13.9%, from $6.06B to $5.21B. Trade in Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes represent 0.023% of total world trade.

Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes are a part of Raw Iron Bars.

Exports In 2023 the top exporters of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes  were China ($759M), Italy ($602M), Poland ($364M), Japan ($311M), and Turkey ($287M).

Imports In 2023 the top importers of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes were Germany ($627M), Thailand ($298M), France ($283M), Canada ($265M), and United States ($244M).

Ranking Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes ranks 3238th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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The following visualization shows the latest trends on Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes. 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)China$759M
Top Destination (2023)Germany$627M

In 2023 Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes were the world's 700th most traded product (out of 4,644).

In 2023, the top exporters of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes were China ($759M), Italy ($602M), Poland ($364M), Japan ($311M), and Turkey ($287M).

In 2023, the top importers of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes were Germany ($627M), Thailand ($298M), France ($283M), Canada ($265M), and United States ($244M).

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Exporters of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes (2023)
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Importers of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)China$216M
Top Destination Growth (2022 -  2023)South Korea$159M

Between 2022 and 2023, the exports of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes grew the fastest in China ($216M), United Arab Emirates ($125M), Algeria ($32M), Kazakhstan ($11.7M), and Chinese Taipei ($6.86M).

Between 2022 and 2023, the fastest growing importers of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes were South Korea ($159M), Canada ($88.9M), Senegal ($40.4M), Australia ($25.7M), and Uzbekistan ($14.6M).

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Exporters of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes (2022 - 2023)

Importers of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes.

In 2023, market concentration measured using Shannon Entropy, was 4.72. This means that most of the exports of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes are explained by 26 countries.

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Value of Exports in Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes

Net Trade

TOP NET EXPORTER (2023)China$721M
TOP NET IMPORTER (2023)Germany$367M

This map shows which countries export or import more of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes. Each country is colored based on the difference in exports and imports of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes 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, hot formed <0.25%C, nes were China ($721M), Italy ($416M), Japan ($287M), Turkey ($263M), and Poland ($253M).

In 2023, the countries that had a largest trade value in imports than in exports of Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes were Germany ($367M), Thailand ($289M), Canada ($142M), Mexico ($134M), and Netherlands ($110M).

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, hot formed <0.25%C, nes.
It is possible to select the main countries that export or import Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes 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, hot formed <0.25%C, nes 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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