HS Icon Iron ore, concentrate, not iron pyrites,unagglomerate

260111 (Harmonized System 1992 for 6-digit)

Overview This page contains the latest trade data of Iron ore, concentrate, not iron pyrites,unagglomerate. In 2020, Iron ore, concentrate, not iron pyrites,unagglomerate were the world's 11th most traded product, with a total trade of $126B. Between 2019 and 2020 the exports of Iron ore, concentrate, not iron pyrites,unagglomerate grew by 19.2%, from $106B to $126B. Trade in Iron ore, concentrate, not iron pyrites,unagglomerate represent 0.75% of total world trade.

Iron ore, concentrate, not iron pyrites,unagglomerate are a part of Iron Ore.

Exports In 2020 the top exporters of Iron ore, concentrate, not iron pyrites,unagglomerate  were Australia ($79.2B), Brazil ($24.9B), Canada ($4.04B), Ukraine ($2.56B), and South Africa ($2.46B).

Imports In 2020 the top importers of Iron ore, concentrate, not iron pyrites,unagglomerate were China ($94.5B), Japan ($7.23B), South Korea ($5.33B), Singapore ($2.23B), and Malaysia ($1.97B).

Tariffs In 2018 the average tariff for Iron ore, concentrate, not iron pyrites,unagglomerate was 1.97%, making it the 6280th lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Iron ore, concentrate, not iron pyrites,unagglomerate are Bahamas (40.2%), Bhutan (29.4%), Bermuda (25%), and Cayman Islands (22%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking Iron ore, concentrate, not iron pyrites,unagglomerate ranks 4603rd in the Product Complexity Index (PCI).

Description Iron ore is any rock containing iron minerals. These minerals are usually hematite or magnetite, or both. Iron ore is heated to form a liquid slag on the top and a solid lump of iron ore called a concentrate at the bottom. The slag is removed and the concentrate is typically smelted in a blast furnace to produce molten iron, which is then used to make steel.

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The following visualization shows the latest trends on Iron ore, concentrate, not iron pyrites,unagglomerate. 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.

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Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2020): Australia, $79.2B

Top Destination (2020): China, $94.5B

Iron ore, concentrate, not iron pyrites,unagglomerate are the world's 11th most traded product.

In 2020, the top exporters of Iron ore, concentrate, not iron pyrites,unagglomerate were Australia ($79.2B), Brazil ($24.9B), Canada ($4.04B), Ukraine ($2.56B), and South Africa ($2.46B).

In 2020, the top importers of Iron ore, concentrate, not iron pyrites,unagglomerate were China ($94.5B), Japan ($7.23B), South Korea ($5.33B), Singapore ($2.23B), and Malaysia ($1.97B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2019 -  2020): Australia, $12B

Top Destination Growth (2019 - 2020): China, $17.3B

Between 2019 and 2020, the exports of Iron ore, concentrate, not iron pyrites,unagglomerate grew the fastest in Australia ($12B), Brazil ($4.42B), India ($1.36B), Canada ($848M), and Ukraine ($738M).

Between 2019 and 2020, the fastest growing importers of Iron ore, concentrate, not iron pyrites,unagglomerate were China ($17.3B), Singapore ($1.92B), Hong Kong ($1.76B), Vietnam ($648M), and Indonesia ($287M).

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Market Concentration

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Cumulative market share

Value

This chart shows the evolution of the market concentration of exports of Iron ore, concentrate, not iron pyrites,unagglomerate.

In 2020,  market concentration measured using Shannon Entropy, was 2. This means that most of the exports of Iron ore, concentrate, not iron pyrites,unagglomerate are explained by 3 countries.

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TOP NET EXPORTER (2020): Australia, $79.1B

TOP NET IMPORTER (2020): China, $93.2B

This map shows which countries export or import more of Iron ore, concentrate, not iron pyrites,unagglomerate. Each country is colored based on the difference in exports and imports of Iron ore, concentrate, not iron pyrites,unagglomerate during 2020.

In 2020, the countries that had a largest trade value in exports than in imports of Iron ore, concentrate, not iron pyrites,unagglomerate were Australia ($79.1B), Brazil ($24.9B), Canada ($4.03B), Ukraine ($2.49B), and South Africa ($2.46B).

In 2020, the countries that had a largest trade value in imports than in exports of Iron ore, concentrate, not iron pyrites,unagglomerate were China ($93.2B), Japan ($7.23B), South Korea ($5.31B), Singapore ($2.23B), and Hong Kong ($1.92B).

Disaggregation

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Value

In 2019, the world most traded Iron ore, concentrate, not iron pyrites,unagglomerate, disaggragated by their HS6 level were Iron ore, concentrate, not iron pyrites,unagglomerate ($126B)

Country Comparison

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This visualization shows the countries that have an important ratio of their trade related to Iron ore, concentrate, not iron pyrites,unagglomerate.
It is possible to select the main countries that export or import Iron ore, concentrate, not iron pyrites,unagglomerate in the world, or by continent, as well as select the measure of interest.

Import Tariffs

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In 2018, the average tariff for importing Iron ore, concentrate, not iron pyrites,unagglomerate was 1.97%. The countries with the highest tariffs for importing Iron ore, concentrate, not iron pyrites,unagglomerate were Bahamas (40.2%), Bhutan (29.4%), Bermuda (25%), and Cayman Islands (22%).

Product Complexity

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Diversification Frontier

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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.