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731816 (Harmonized System 1992 for 6-digit)

2023
World Trade $7.6BRnk 491 / 4644
2023
Top Exporter | Top Importer $1.59B | $1.4BChina | United States
2023
Product Complexity 1.58Rnk 125 / 4656
2022 - 2023
Export Growth (CAGR) -7.36%Rnk 2399 / 4644
2023
Share of World Trade 0.034%Rnk 491 / 4644

About

Overview This page contains the latest trade data of Nuts, iron or steel. In 2023, Nuts, iron or steel were the world's 491st most traded product, with a total trade of $7.6B. Between 2022 and 2023 the exports of Nuts, iron or steel decreased by -7.36%, from $8.2B to $7.6B. Trade in Nuts, iron or steel represent 0.034% of total world trade.

Nuts, iron or steel are a part of Iron Fasteners.

Exports In 2023 the top exporters of Nuts, iron or steel  were China ($1.59B), Chinese Taipei ($1.25B), United States ($955M), Germany ($901M), and Japan ($630M).

Imports In 2023 the top importers of Nuts, iron or steel were United States ($1.4B), Germany ($730M), Mexico ($534M), Canada ($388M), and China ($375M).

Ranking Nuts, iron or steel ranks 125th in the Product Complexity Index (PCI).

Description Nuts are used in the assembly of threaded fasteners, such as bolts and screws, to keep them fastened snugly in place. Iron and steel are used to make a variety of different products, such as bridges, cars, and buildings.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Nuts, iron or steel. 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)China$1.59B
Top Destination (2023)United States$1.4B

In 2023 Nuts, iron or steel were the world's 491st most traded product (out of 4,644).

In 2023, the top exporters of Nuts, iron or steel were China ($1.59B), Chinese Taipei ($1.25B), United States ($955M), Germany ($901M), and Japan ($630M).

In 2023, the top importers of Nuts, iron or steel were United States ($1.4B), Germany ($730M), Mexico ($534M), Canada ($388M), and China ($375M).

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Exporters of Nuts, iron or steel (2023)
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Importers of Nuts, iron or steel (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)United States$82.6M
Top Destination Growth (2022 -  2023)Oman$20.9M

Between 2022 and 2023, the exports of Nuts, iron or steel grew the fastest in United States ($82.6M), Germany ($57.1M), France ($51.8M), Italy ($26.6M), and Canada ($22.9M).

Between 2022 and 2023, the fastest growing importers of Nuts, iron or steel were Oman ($20.9M), India ($19.6M), United Kingdom ($18.2M), Turkey ($18.1M), and France ($15.7M).

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Exporters of Nuts, iron or steel (2022 - 2023)

Importers of Nuts, iron or steel (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Nuts, iron or steel.

In 2023, market concentration measured using Shannon Entropy, was 3.8. This means that most of the exports of Nuts, iron or steel are explained by 13 countries.

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Value of Exports in Nuts, iron or steel

Net Trade

TOP NET EXPORTER (2023)Chinese Taipei$1.22B
TOP NET IMPORTER (2023)Mexico$474M

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

In 2023, the countries that had a largest trade value in exports than in imports of Nuts, iron or steel were Chinese Taipei ($1.22B), China ($1.21B), Japan ($434M), Germany ($171M), and Italy ($153M).

In 2023, the countries that had a largest trade value in imports than in exports of Nuts, iron or steel were Mexico ($474M), United States ($441M), Canada ($239M), Poland ($159M), and Netherlands ($154M).

Net Trade (2023)

Country Comparison

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Ranking

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

Top 10 Exporters Countries of Nuts, iron or steel by percentage of total exports

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)

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