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Pricing

Nickel; bars, rods, profiles and wire

7505 (Harmonized System 1992 for 4-digit)

2023
World Trade $4.8BRnk 554 / 1217
2023
Top Exporter | Top Importer $1.37B | $606MUnited States | Germany
2023
Product Complexity 1.14Rnk 130 / 1044
2022 - 2023
Export Growth (CAGR) 31.2%Rnk 34 / 1217
2023
Share of World Trade 0.021%Rnk 554 / 1217

About

Overview This page contains the latest trade data of Nickel Bars. In 2023, Nickel Bars were the world's 554th most traded product, with a total trade of $4.8B. Between 2022 and 2023 the exports of Nickel Bars grew by 31.2%, from $3.66B to $4.8B. Trade in Nickel Bars represent 0.021% of total world trade.

Nickel Bars are a part of Nickel articles. They include Bars, rods and profiles, nickel alloy, Wire, nickel alloy, Bars, rods and profiles, nickel, not alloyed, and Wire, nickel, not alloyed.

Exports In 2023 the top exporters of Nickel Bars  were United States ($1.37B), Germany ($651M), France ($547M), Austria ($446M), and Italy ($379M).

Imports In 2023 the top importers of Nickel Bars were Germany ($606M), United States ($541M), China ($437M), United Kingdom ($408M), and France ($327M).

Ranking Nickel Bars ranks 130th in the Product Complexity Index (PCI).

Description Nickel is used in the production of stainless steel, and is also used to make other metals. Nickel can be found in the form of wire, bars, rods, and profiles.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Nickel Bars. 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)United States$1.37B
Top Destination (2023)Germany$606M

In 2023 Nickel Bars were the world's 554th most traded product (out of 1,217).

In 2023, the top exporters of Nickel Bars were United States ($1.37B), Germany ($651M), France ($547M), Austria ($446M), and Italy ($379M).

In 2023, the top importers of Nickel Bars were Germany ($606M), United States ($541M), China ($437M), United Kingdom ($408M), and France ($327M).

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Exporters of Nickel Bars (2023)
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Importers of Nickel Bars (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)United States$402M
Top Destination Growth (2022 -  2023)Germany$158M

Between 2022 and 2023, the exports of Nickel Bars grew the fastest in United States ($402M), France ($148M), Germany ($124M), Italy ($122M), and China ($71.6M).

Between 2022 and 2023, the fastest growing importers of Nickel Bars were Germany ($158M), United Kingdom ($130M), China ($113M), Italy ($107M), and France ($90.1M).

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Exporters of Nickel Bars (2022 - 2023)

Importers of Nickel Bars (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Nickel Bars.

In 2023, market concentration measured using Shannon Entropy, was 3.53. This means that most of the exports of Nickel Bars are explained by 11 countries.

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Value of Exports in Nickel Bars

Net Trade

TOP NET EXPORTER (2023)United States$831M
TOP NET IMPORTER (2023)Mexico$273M

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

In 2023, the countries that had a largest trade value in exports than in imports of Nickel Bars were United States ($831M), Austria ($306M), France ($220M), Italy ($96M), and Australia ($87M).

In 2023, the countries that had a largest trade value in imports than in exports of Nickel Bars were Mexico ($273M), China ($213M), Singapore ($168M), India ($158M), and United Kingdom ($138M).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Nickel Bars, disaggragated by their HS6 level were Bars, rods and profiles, nickel alloy ($3.04B), Wire, nickel alloy ($1.6B), Wire, nickel, not alloyed ($92.3M), and Bars, rods and profiles, nickel, not... ($58.5M)

HS6 Disaggregation for Nickel Bars (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 Nickel Bars.
It is possible to select the main countries that export or import Nickel Bars in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Nickel Bars by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALCanada+ $9.41M
TOP IMPORT POTENTIALChina+ $6.13M

Nickel Bars’s highest export potential is Canada. With an export gap of $9.41M.  Nickel Bars’s highest import potential is China with an import gap of $6.13M.

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 Nickel Bars.

Country by Relatedness

The following visualization shows the relatedness of Nickel Bars 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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