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Steel, alloy; bars and rods, hot-rolled, in irregularly wound coils

7227 (Harmonized System 1992 for 4-digit)

2023
World Trade $4.07BRnk 597 / 1217
2023
Top Exporter | Top Importer $852M | $583MChina | United States
2023
Product Complexity 0.23Rnk 480 / 1044
2022 - 2023
Export Growth (CAGR) -22.8%Rnk 1078 / 1217
2023
Share of World Trade 0.018%Rnk 597 / 1217

About

Overview This page contains the latest trade data of Steel Bars. In 2023, Steel Bars were the world's 597th most traded product, with a total trade of $4.07B. Between 2022 and 2023 the exports of Steel Bars decreased by -22.8%, from $5.27B to $4.07B. Trade in Steel Bars represent 0.018% of total world trade.

Steel Bars are a part of Iron & steel. They include Bar/rod, alloy steel nes, irregularly wound coils, Bar/rod, of silico-manganese steel, irregular coils, and Bar/rod, of high speed steel, irregular coils.

Exports In 2023 the top exporters of Steel Bars  were China ($852M), Japan ($646M), Germany ($440M), Canada ($264M), and Austria ($241M).

Imports In 2023 the top importers of Steel Bars were United States ($583M), Thailand ($378M), Germany ($368M), Italy ($324M), and China ($201M).

Ranking Steel Bars ranks 480th in the Product Complexity Index (PCI).

Description Steel bars and rods are used in the production of other goods. They can be made from a variety of materials, including carbon steel, alloy steel, stainless steel, and aluminum.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Steel 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.

Explore Latest Trends

* 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$852M
Top Destination (2023)United States$583M

In 2023 Steel Bars were the world's 597th most traded product (out of 1,217).

In 2023, the top exporters of Steel Bars were China ($852M), Japan ($646M), Germany ($440M), Canada ($264M), and Austria ($241M).

In 2023, the top importers of Steel Bars were United States ($583M), Thailand ($378M), Germany ($368M), Italy ($324M), and China ($201M).

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

Color
Top Origin Growth (2022 -  2023)Djibouti$15.5M
Top Destination Growth (2022 -  2023)Ethiopia$17.5M

Between 2022 and 2023, the exports of Steel Bars grew the fastest in Djibouti ($15.5M), Egypt ($9.43M), Italy ($9.34M), South Africa ($6.04M), and Ghana ($3.35M).

Between 2022 and 2023, the fastest growing importers of Steel Bars were Ethiopia ($17.5M), Egypt ($16.5M), Djibouti ($13.7M), India ($9.42M), and Honduras ($9.32M).

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Exporters of Steel Bars (2022 - 2023)

Importers of Steel Bars (2022 - 2023)

Market Concentration

Value

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

In 2023, market concentration measured using Shannon Entropy, was 3.98. This means that most of the exports of Steel Bars are explained by 15 countries.

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Value of Exports in Steel Bars

Net Trade

TOP NET EXPORTER (2023)China$651M
TOP NET IMPORTER (2023)United States$549M

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

In 2023, the countries that had a largest trade value in exports than in imports of Steel Bars were China ($651M), Japan ($591M), Canada ($236M), Austria ($220M), and Spain ($98.3M).

In 2023, the countries that had a largest trade value in imports than in exports of Steel Bars were United States ($549M), Thailand ($374M), Indonesia ($159M), Italy ($99.2M), and Malaysia ($89M).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Steel Bars, disaggragated by their HS6 level were Bar/rod, alloy steel nes, irregularly wound... ($3.5B), Bar/rod, of silico-manganese steel, irregular coils ($421M), and Bar/rod, of high speed steel, irregular... ($146M)

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

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

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALIndia+ $685k
TOP IMPORT POTENTIALChina+ $2.17M

Steel Bars’s highest export potential is India. With an export gap of $685k.  Steel Bars’s highest import potential is China with an import gap of $2.17M.

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 Steel Bars.

Country by Relatedness

The following visualization shows the relatedness of Steel 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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