Raw Iron Bars7214 (Harmonized System 1992 for 4-digit)
2020 World Trade: $14.5B, Rnk 231 / 1217
2020 Top Exporter | Top Importer: $2.6B | $1.03B, Turkey | China
2020 Product Complexity: -1.28, Rnk 905 / 1028
2019 - 2020 Export Growth (CAGR): -11.8%, Rnk 791 / 1217
2018 Mean Tariff: 7.81%, Rnk 557 / 1259
2020 Share of World Trade: 0.087%, Rnk 231 / 1217
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.
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.
Trade By Country
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).
Trade by country
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).
Cumulative market share
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.
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).
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)
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.
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.
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