HS Icon Ferrous waste or scrap, nes

720449 (Harmonized System 1992 for 6-digit)

Overview This page contains the latest trade data of Ferrous waste or scrap, nes. In 2020, Ferrous waste or scrap, nes were the world's 124th most traded product, with a total trade of $20B. Between 2019 and 2020 the exports of Ferrous waste or scrap, nes decreased by -4.25%, from $20.8B to $20B. Trade in Ferrous waste or scrap, nes represent 0.12% of total world trade.

Ferrous waste or scrap, nes are a part of Scrap Iron.

Exports In 2020 the top exporters of Ferrous waste or scrap, nes  were United States ($3.67B), Japan ($1.95B), United Kingdom ($1.54B), Netherlands ($1.46B), and Germany ($1.35B).

Imports In 2020 the top importers of Ferrous waste or scrap, nes were Turkey ($5.53B), Vietnam ($1.3B), Pakistan ($1.06B), South Korea ($902M), and Germany ($806M).

Tariffs In 2018 the average tariff for Ferrous waste or scrap, nes was 2.52%, making it the 6072nd lowest tariff using the HS6 product classification.

Ranking Ferrous waste or scrap, nes ranks 3333rd in the Product Complexity Index (PCI).

Description Ferrous waste or scrap is used in the manufacture of new steel.

View
Flow
Y-AXIS SCALE

The following visualization shows the latest trends on Ferrous waste or scrap, 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.

* Using January 2020 exchange rates when trade data is reported in local currency.

Explore Latest Trends

Historical Data

#permalink to section

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2020): United States, $3.67B

Top Destination (2020): Turkey, $5.53B

Ferrous waste or scrap, nes are the world's 124th most traded product.

In 2020, the top exporters of Ferrous waste or scrap, nes were United States ($3.67B), Japan ($1.95B), United Kingdom ($1.54B), Netherlands ($1.46B), and Germany ($1.35B).

In 2020, the top importers of Ferrous waste or scrap, nes were Turkey ($5.53B), Vietnam ($1.3B), Pakistan ($1.06B), South Korea ($902M), and Germany ($806M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2019 -  2020): Netherlands, $235M

Top Destination Growth (2019 - 2020): Turkey, $629M

Between 2019 and 2020, the exports of Ferrous waste or scrap, nes grew the fastest in Netherlands ($235M), Belgium ($86.4M), Lithuania ($67.1M), Japan ($56.7M), and Venezuela ($55.4M).

Between 2019 and 2020, the fastest growing importers of Ferrous waste or scrap, nes were Turkey ($629M), Pakistan ($192M), Mexico ($180M), United States ($89.4M), and Thailand ($84.2M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

Value

This chart shows the evolution of the market concentration of exports of Ferrous waste or scrap, nes.

In 2020,  market concentration measured using Shannon Entropy, was 4.72. This means that most of the exports of Ferrous waste or scrap, nes are explained by 26 countries.

Explore Visualizations

TOP NET EXPORTER (2020): United States, $3.16B

TOP NET IMPORTER (2020): Turkey, $5.53B

This map shows which countries export or import more of Ferrous waste or scrap, nes. Each country is colored based on the difference in exports and imports of Ferrous waste or scrap, nes during 2020.

In 2020, the countries that had a largest trade value in exports than in imports of Ferrous waste or scrap, nes were United States ($3.16B), Japan ($1.92B), United Kingdom ($1.49B), Russia ($969M), and Netherlands ($963M).

In 2020, the countries that had a largest trade value in imports than in exports of Ferrous waste or scrap, nes were Turkey ($5.53B), Vietnam ($1.3B), Pakistan ($1.06B), South Korea ($873M), and India ($795M).

Country Comparison

#permalink to section
Flow
Measure
Ranking

This visualization shows the countries that have an important ratio of their trade related to Ferrous waste or scrap, nes.
It is possible to select the main countries that export or import Ferrous waste or scrap, nes in the world, or by continent, as well as select the measure of interest.

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
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.