Iron or steel articles73 (Harmonized System 1992 for 2-digit)
2021 World Trade: $355B, Rnk 12 / 96
2021 Top Exporter | Top Importer: $94.9B | $48.5B, China | United States
2021 Product Complexity: 1.22, Rnk 11 / 96
2020 - 2021 Export Growth (CAGR): 25.5%, Rnk 32 / 96
2018 Mean Tariff: 8.5%, Rnk 55 / 96
2021 Share of World Trade: 0.017%, Rnk 12 / 96
Overview This page contains the latest trade data of Iron or steel articles. In 2021, Iron or steel articles were the world's 12th most traded product, with a total trade of $355B. Between 2020 and 2021 the exports of Iron or steel articles grew by 25.5%, from $283B to $355B. Trade in Iron or steel articles represent 0.017% of total world trade.
Iron or steel articles are a part of Metals. They include Iron or steel articles.
Exports In 2021 the top exporters of Iron or steel articles were China ($94.9B), Germany ($33B), Italy ($20.9B), United States ($18.8B), and Poland ($10.4B).
Imports In 2021 the top importers of Iron or steel articles were United States ($48.5B), Germany ($30.3B), France ($16B), Canada ($11.5B), and United Kingdom ($10.9B).
Tariffs In 2018 the average tariff for Iron or steel articles was 8.5%, making it the 55th lowest tariff using the HS2 product classification.
Ranking Iron or steel articles ranks 11th in the Product Complexity Index (PCI).
The following visualization shows the latest trends on Iron or steel articles. 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 (2021): China, $94.9B
Top Destination (2021): United States, $48.5B
Iron or steel articles are the world's 12th most traded product.
In 2021, the top exporters of Iron or steel articles were China ($94.9B), Germany ($33B), Italy ($20.9B), United States ($18.8B), and Poland ($10.4B).
In 2021, the top importers of Iron or steel articles were United States ($48.5B), Germany ($30.3B), France ($16B), Canada ($11.5B), and United Kingdom ($10.9B).
Trade by country
Top Origin Growth (2020 - 2021): China, $22.8B
Top Destination Growth (2020 - 2021): United States, $12.4B
Between 2020 and 2021, the exports of Iron or steel articles grew the fastest in China ($22.8B), Germany ($5.61B), Italy ($4.57B), United States ($2.91B), and Turkey ($2.49B).
Between 2020 and 2021, the fastest growing importers of Iron or steel articles were United States ($12.4B), Germany ($6.94B), France ($4.27B), Mexico ($2.66B), and Canada ($2.48B).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Iron or steel articles.
In 2021, market concentration measured using Shannon Entropy, was 4.59. This means that most of the exports of Iron or steel articles are explained by 24 countries.
TOP NET EXPORTER (2021): China, $85.7B
TOP NET IMPORTER (2021): United States, $29.7B
This map shows which countries export or import more of Iron or steel articles. Each country is colored based on the difference in exports and imports of Iron or steel articles during 2021.
In 2021, the countries that had a largest trade value in exports than in imports of Iron or steel articles were China ($85.7B), Italy ($13.1B), Chinese Taipei ($6.57B), Turkey ($6.2B), and South Korea ($3.73B).
In 2021, the countries that had a largest trade value in imports than in exports of Iron or steel articles were United States ($29.7B), France ($8.13B), Canada ($5.64B), Australia ($5.32B), and United Kingdom ($4.78B).
In 2021, the world most traded Iron or steel articles, disaggragated by their HS6 level were Iron or steel articles ($355B)
This visualization shows the countries that have an important ratio of their trade related to Iron or steel articles. It is possible to select the main countries that export or import Iron or steel articles 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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