HS Icon Raw Iron Bars

7214 (Harmonized System 1992 for 4-digit)

Overview This page contains the latest trade data of Raw Iron Bars. In 2020, Raw Iron Bars were the world's 231st most traded product, with a total trade of $14.5B. Between 2019 and 2020 the exports of Raw Iron Bars decreased by -11.8%, from $16.4B to $14.5B. Trade in Raw Iron Bars represent 0.087% of total world trade.

Raw Iron Bars are a part of Iron & steel. They include Bar/rod, iron or non-alloy steel, indented or twisted, nes, Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes, Bar/rod, iron or non-alloy steel, forged, Bar/rod, iron or non-alloy steel, of free cutting steel, nes, Bar/rod, iron or non-alloy steel, hot formed 0.25-0.6%C, nes, and Bar/rod, iron or non-alloy steel, hot formed >0.6%C, nes.

Exports In 2020 the top exporters of Raw Iron Bars  were Turkey ($2.6B), Malaysia ($1.03B), Italy ($1.01B), Russia ($856M), and Germany ($562M).

Imports In 2020 the top importers of Raw Iron Bars were China ($1.03B), Germany ($831M), United States ($653M), Hong Kong ($592M), and Israel ($573M).

Tariffs In 2018 the average tariff for Raw Iron Bars was 7.81%, making it the 557th lowest tariff using the HS4 product classification.

Ranking Raw Iron Bars ranks 905th in the Product Complexity Index (PCI).

Description Bars and rods of iron or non-alloy steel are used in the production of other goods. They can be made from a variety of materials, including carbon steel, stainless steel, and nickel-chromium alloys.

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The following visualization shows the latest trends on Raw Iron 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.

* 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): Turkey, $2.6B

Top Destination (2020): China, $1.03B

Raw Iron Bars are the world's 231st most traded product.

In 2020, the top exporters of Raw Iron Bars were Turkey ($2.6B), Malaysia ($1.03B), Italy ($1.01B), Russia ($856M), and Germany ($562M).

In 2020, the top importers of Raw Iron Bars were China ($1.03B), Germany ($831M), United States ($653M), Hong Kong ($592M), and Israel ($573M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2019 -  2020): Malaysia, $838M

Top Destination Growth (2019 - 2020): China, $931M

Between 2019 and 2020, the exports of Raw Iron Bars grew the fastest in Malaysia ($838M), Albania ($78.2M), Switzerland ($60.5M), Russia ($59M), and Bulgaria ($33.8M).

Between 2019 and 2020, the fastest growing importers of Raw Iron Bars were China ($931M), Saudi Arabia ($164M), Burma ($125M), Israel ($81.4M), and Romania ($78.3M).

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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 Raw Iron Bars.

In 2020,  market concentration measured using Shannon Entropy, was 5.07. This means that most of the exports of Raw Iron Bars are explained by 33 countries.

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TOP NET EXPORTER (2020): Turkey, $2.56B

TOP NET IMPORTER (2020): Hong Kong, $583M

This map shows which countries export or import more of Raw Iron Bars. Each country is colored based on the difference in exports and imports of Raw Iron Bars during 2020.

In 2020, the countries that had a largest trade value in exports than in imports of Raw Iron Bars were Turkey ($2.56B), Malaysia ($966M), Italy ($873M), Russia ($766M), and Ukraine ($355M).

In 2020, the countries that had a largest trade value in imports than in exports of Raw Iron Bars were Hong Kong ($583M), Israel ($573M), China ($522M), United States ($434M), and Romania ($407M).

Disaggregation

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Value

In 2020, the world most traded Raw Iron Bars, disaggragated by their HS6 level were Bar/rod, iron or non-alloy steel, indented... ($10.5B), Bar/rod, iron or non-alloy steel, hot... ($3.31B), Bar/rod, iron or non-alloy steel, forged ($410M), and Bar/rod, iron or non-alloy steel, of... ($237M)

Country Comparison

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Ranking

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

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.

Country by Relatedness

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