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720711 (Harmonized System 1992 for 6-digit)

2022
World Trade $9.15BRnk 439 / 4648
2022
Top Exporter | Top Importer $1.75B | $1.36BRussia | Turkey
2022
Product Complexity -1.28Rnk 4086 / 4653
2021 - 2022
Export Growth (CAGR) -36.1%Rnk 4490 / 4648
2022
Share of World Trade 0.039%Rnk 439 / 4648

About

Overview This page contains the latest trade data of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes. In 2022, Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes were the world's 439th most traded product, with a total trade of $9.15B. Between 2021 and 2022 the exports of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes decreased by -36.1%, from $14.3B to $9.15B. Trade in Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes represent 0.039% of total world trade.

Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes are a part of Semi-Finished Iron.

Exports In 2022 the top exporters of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes  were Russia ($1.75B), Oman ($1.3B), Ukraine ($743M), Indonesia ($660M), and Turkey ($379M).

Imports In 2022 the top importers of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes were Turkey ($1.36B), China ($832M), Thailand ($478M), Philippines ($446M), and Saudi Arabia ($445M).

Ranking Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes ranks 4086th in the Product Complexity Index (PCI).

Description Determining the yield strength and tensile strength of metals Forging Forming

Latest Trends

Latest Data

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The following visualization shows the latest trends on Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes. 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 (2022)Russia$1.75B
Top Destination (2022)Turkey$1.36B

In 2022 Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes were the world's 439th most traded product (out of 4,648).

In 2022, the top exporters of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes were Russia ($1.75B), Oman ($1.3B), Ukraine ($743M), Indonesia ($660M), and Turkey ($379M).

In 2022, the top importers of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes were Turkey ($1.36B), China ($832M), Thailand ($478M), Philippines ($446M), and Saudi Arabia ($445M).

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Exporters of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes (2022)
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Importers of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes (2022)
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Market Dynamics

Color
Top Origin Growth (2021 -  2022)Oman$469M
Top Destination Growth (2021 -  2022)Oman$245M

Between 2021 and 2022, the exports of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes grew the fastest in Oman ($469M), Pakistan ($150M), China ($108M), Mexico ($72.8M), and Iraq ($66.4M).

Between 2021 and 2022, the fastest growing importers of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes were Oman ($245M), Saudi Arabia ($225M), Philippines ($125M), Poland ($124M), and Egypt ($109M).

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Exporters of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes (2021 - 2022)

Importers of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes (2021 - 2022)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes.

In 2022, market concentration measured using Shannon Entropy, was 4.46. This means that most of the exports of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes are explained by 21 countries.

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Value of Exports in Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes

Net Trade

TOP NET EXPORTER (2022)Russia$1.75B
TOP NET IMPORTER (2022)Turkey$981M

This map shows which countries export or import more of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes. Each country is colored based on the difference in exports and imports of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes during 2022.

In 2022, the countries that had a largest trade value in exports than in imports of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes were Russia ($1.75B), Oman ($994M), Ukraine ($739M), Indonesia ($323M), and Iran ($281M).

In 2022, the countries that had a largest trade value in imports than in exports of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes were Turkey ($981M), China ($700M), Philippines ($446M), Saudi Arabia ($433M), and Thailand ($416M).

Net Trade (2022)

Country Comparison

Flow
Measure
Ranking

This visualization shows the countries that have an important ratio of their trade related to Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes.
It is possible to select the main countries that export or import Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes 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 (2022)

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