HS Icon Steel Bars

7227 (Harmonized System 1992 for 4-digit)

Overview This page contains the latest trade data of Steel Bars. In 2020, Steel Bars were the world's 567th most traded product, with a total trade of $3.7B. Between 2019 and 2020 the exports of Steel Bars decreased by -21.2%, from $4.69B to $3.7B. Trade in Steel Bars represent 0.022% 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 2020 the top exporters of Steel Bars  were China ($1.16B), Japan ($477M), Germany ($309M), Turkey ($189M), and South Korea ($187M).

Imports In 2020 the top importers of Steel Bars were Thailand ($357M), United States ($322M), Germany ($275M), South Korea ($266M), and China ($239M).

Tariffs In 2018 the average tariff for Steel Bars was 5.95%, making it the 716th lowest tariff using the HS4 product classification.

Ranking Steel Bars ranks 432nd 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.

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Y-AXIS SCALE

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.

* 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): China, $1.16B

Top Destination (2020): Thailand, $357M

Steel Bars are the world's 567th most traded product.

In 2020, the top exporters of Steel Bars were China ($1.16B), Japan ($477M), Germany ($309M), Turkey ($189M), and South Korea ($187M).

In 2020, the top importers of Steel Bars were Thailand ($357M), United States ($322M), Germany ($275M), South Korea ($266M), and China ($239M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2019 -  2020): Turkey, $81.7M

Top Destination Growth (2019 - 2020): Cote d'Ivoire, $38.5M

Between 2019 and 2020, the exports of Steel Bars grew the fastest in Turkey ($81.7M), Saudi Arabia ($21.3M), Vietnam ($19.1M), South Korea ($17.9M), and Switzerland ($10.2M).

Between 2019 and 2020, the fastest growing importers of Steel Bars were Cote d'Ivoire ($38.5M), China ($30M), Benin ($24.1M), Togo ($13.9M), and United Arab Emirates ($12.6M).

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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 Steel Bars.

In 2020,  market concentration measured using Shannon Entropy, was 3.8. This means that most of the exports of Steel Bars are explained by 13 countries.

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TOP NET EXPORTER (2020): China, $917M

TOP NET IMPORTER (2020): Thailand, $353M

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 2020.

In 2020, the countries that had a largest trade value in exports than in imports of Steel Bars were China ($917M), Japan ($433M), Austria ($164M), Turkey ($130M), and Canada ($115M).

In 2020, the countries that had a largest trade value in imports than in exports of Steel Bars were Thailand ($353M), United States ($301M), Indonesia ($180M), Vietnam ($107M), and Israel ($100M).

Disaggregation

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Value

In 2020, the world most traded Steel Bars, disaggragated by their HS6 level were Bar/rod, alloy steel nes, irregularly wound... ($3.28B), Bar/rod, of silico-manganese steel, irregular coils ($355M), and Bar/rod, of high speed steel, irregular... ($56M)

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.

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 Steel Bars to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.