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Pricing

Springs and leaves for springs, of iron or steel

7320 (Harmonized System 1992 for 4-digit)

2023
World Trade $7.86BRnk 420 / 1217
2023
Top Exporter | Top Importer $1.44B | $1.34BGermany | United States
2023
Product Complexity 0.87Rnk 223 / 1044
2022 - 2023
Export Growth (CAGR) 0.36%Rnk 396 / 1217
2023
Share of World Trade 0.035%Rnk 420 / 1217

About

Overview This page contains the latest trade data of Iron Springs. In 2023, Iron Springs were the world's 420th most traded product, with a total trade of $7.86B. Between 2022 and 2023 the exports of Iron Springs grew by 0.36%, from $7.83B to $7.86B. Trade in Iron Springs represent 0.035% of total world trade.

Iron Springs are a part of Iron/Steel Articles. They include Springs, helical, iron or steel, Springs, iron or steel, except helical/leaf, and Leaf springs/leaves thereof, iron or steel.

Exports In 2023 the top exporters of Iron Springs  were Germany ($1.44B), China ($868M), United States ($820M), Mexico ($779M), and Japan ($388M).

Imports In 2023 the top importers of Iron Springs were United States ($1.34B), Germany ($649M), Mexico ($625M), China ($378M), and Poland ($348M).

Ranking Iron Springs ranks 223rd in the Product Complexity Index (PCI).

Description Springs are used to store energy and can be made from a variety of materials, including steel.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Iron Springs. 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)Germany$1.44B
Top Destination (2023)United States$1.34B

In 2023 Iron Springs were the world's 420th most traded product (out of 1,217).

In 2023, the top exporters of Iron Springs were Germany ($1.44B), China ($868M), United States ($820M), Mexico ($779M), and Japan ($388M).

In 2023, the top importers of Iron Springs were United States ($1.34B), Germany ($649M), Mexico ($625M), China ($378M), and Poland ($348M).

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Exporters of Iron Springs (2023)
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Importers of Iron Springs (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Germany$51.6M
Top Destination Growth (2022 -  2023)Poland$32.8M

Between 2022 and 2023, the exports of Iron Springs grew the fastest in Germany ($51.6M), Spain ($36.6M), France ($26.8M), Italy ($21.9M), and Czechia ($20.8M).

Between 2022 and 2023, the fastest growing importers of Iron Springs were Poland ($32.8M), Germany ($32.4M), Turkey ($31.3M), Philippines ($30.2M), and Spain ($18.6M).

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Exporters of Iron Springs (2022 - 2023)

Importers of Iron Springs (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Iron Springs.

In 2023, market concentration measured using Shannon Entropy, was 4.42. This means that most of the exports of Iron Springs are explained by 21 countries.

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Value of Exports in Iron Springs

Net Trade

TOP NET EXPORTER (2023)Germany$794M
TOP NET IMPORTER (2023)United States$515M

This map shows which countries export or import more of Iron Springs. Each country is colored based on the difference in exports and imports of Iron Springs during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Iron Springs were Germany ($794M), China ($490M), Japan ($265M), Mexico ($154M), and Italy ($94.5M).

In 2023, the countries that had a largest trade value in imports than in exports of Iron Springs were United States ($515M), Slovakia ($102M), Poland ($86.1M), Hungary ($83.8M), and Canada ($76.7M).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Iron Springs, disaggragated by their HS6 level were Springs, helical, iron or steel ($3.82B), Leaf springs/leaves thereof, iron or steel ($2.05B), and Springs, iron or steel, except helical/leaf ($1.99B)

HS6 Disaggregation for Iron Springs (2023)
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Country Comparison

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Ranking

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

Top 10 Exporters Countries of Iron Springs by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALGermany+ $6.61M
TOP IMPORT POTENTIALChina+ $12.2M

Iron Springs’s highest export potential is Germany. With an export gap of $6.61M.  Iron Springs’s highest import potential is China with an import gap of $12.2M.

See methodology.

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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)

Related Products

This visualization shows products that are likely to be exported by countries that export Iron Springs.

Country by Relatedness

The following visualization shows the relatedness of Iron Springs to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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