Iron Fasteners7318 (Harmonized System 1992 for 4-digit)
2020 World Trade: $37B, Rnk 99 / 1217
2020 Top Exporter | Top Importer: $7.35B | $4.95B, China | United States
2020 Product Complexity: 1.64, Rnk 31 / 1028
2019 - 2020 Export Growth (CAGR): -8.75%, Rnk 675 / 1217
2018 Mean Tariff: 8.5%, Rnk 505 / 1259
2020 Share of World Trade: 0.22%, Rnk 99 / 1217
Overview This page contains the latest trade data of Iron Fasteners. In 2020, Iron Fasteners were the world's 99th most traded product, with a total trade of $37B. Between 2019 and 2020 the exports of Iron Fasteners decreased by -8.75%, from $40.5B to $37B. Trade in Iron Fasteners represent 0.22% of total world trade.
Iron Fasteners are a part of Iron or steel articles. They include Bolts/screws nes, with/without nut/washer, iron/steel, Nuts, iron or steel, Non-threaded articles of iron or steel, nes, Screws, self-tapping, iron or steel, Iron or steel threaded articles except screw, nut,bol, Washers, iron or steel, except spring/lock, Screws, wood, iron or steel, except coach screws, Rivets, iron or steel, Washers, spring or lock, iron or steel, and Cotters and cotter-pins, iron or steel, among others.
Exports In 2020 the top exporters of Iron Fasteners were China ($7.35B), Germany ($5.99B), Chinese Taipei ($4.12B), United States ($3.61B), and Japan ($2.48B).
Imports In 2020 the top importers of Iron Fasteners were United States ($4.95B), Germany ($3.34B), China ($2.28B), Mexico ($2.06B), and France ($1.47B).
Tariffs In 2018 the average tariff for Iron Fasteners was 8.5%, making it the 505th lowest tariff using the HS4 product classification.
Ranking Iron Fasteners ranks 31st in the Product Complexity Index (PCI).
Description Screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter pins, washers and similar articles are used to fasten objects together. They can be made from a variety of materials including iron or steel.
The following visualization shows the latest trends on Iron Fasteners. 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.
Trade By Country
Top Origin (2020): China, $7.35B
Top Destination (2020): United States, $4.95B
Iron Fasteners are the world's 99th most traded product.
In 2020, the top exporters of Iron Fasteners were China ($7.35B), Germany ($5.99B), Chinese Taipei ($4.12B), United States ($3.61B), and Japan ($2.48B).
In 2020, the top importers of Iron Fasteners were United States ($4.95B), Germany ($3.34B), China ($2.28B), Mexico ($2.06B), and France ($1.47B).
Trade by country
Between 2019 and 2020, the exports of Iron Fasteners grew the fastest in China ($211M), Vietnam ($14.5M), Denmark ($14.5M), Poland ($11.8M), and Slovakia ($5.36M).
Between 2019 and 2020, the fastest growing importers of Iron Fasteners were China ($187M), Vietnam ($183M), Burma ($128M), Saudi Arabia ($61.4M), and Poland ($50.8M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Iron Fasteners.
In 2020, market concentration measured using Shannon Entropy, was 4.11. This means that most of the exports of Iron Fasteners are explained by 17 countries.
This map shows which countries export or import more of Iron Fasteners. Each country is colored based on the difference in exports and imports of Iron Fasteners during 2020.
In 2020, the countries that had a largest trade value in exports than in imports of Iron Fasteners were China ($5.08B), Chinese Taipei ($3.97B), Germany ($2.65B), Japan ($1.64B), and Italy ($898M).
In 2020, the countries that had a largest trade value in imports than in exports of Iron Fasteners were Mexico ($1.86B), United States ($1.34B), Canada ($854M), Poland ($752M), and Russia ($695M).
In 2020, the world most traded Iron Fasteners, disaggragated by their HS6 level were Bolts/screws nes, with/without nut/washer, iron/steel ($17B), Nuts, iron or steel ($5.72B), Screws, self-tapping, iron or steel ($3.34B), Non-threaded articles of iron or steel,... ($2.93B), and Iron or steel threaded articles except... ($2.59B)
This visualization shows the countries that have an important ratio of their trade related to Iron Fasteners. It is possible to select the main countries that export or import Iron Fasteners in the world, or by continent, as well as select the measure of interest.
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.
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