HS Icon Metals

XV (Harmonized System 1992 for Section)

World Trade (2018): $1.34T, Rnk 5 / 21

Top Exporter (2018): $193B, China

Top Importer (2018): $142B, United States

Product Complexity (2018): -0.17, Rnk 12 / 21

Export Growth (CAGR)(2017 - 2018): 17%, Rnk 7 / 21

Mean Tariff (2018): 6.56%, Rnk 16 / 21

Share of World Trade (2018): 7.3%, Rnk 5 / 21

Overview:  This page contains the latest trade data of Metals. In 2018, Metals were the world's 5th most traded product, with a total trade of $1.34T. Between 2017 and 2018 the exports of Metals grew by 17%, from  $1.15T to $1.34T. Trade in Metals represent 7.3% of total world trade.

Exports: In 2018 the top exporters of Metals  were China ($193B), Germany ($116B), United States ($70.5B), Japan ($61.7B), and South Korea ($52.9B).

Imports: In 2018 the top importers of Metals were United States ($142B), Germany ($108B), China ($92.3B), Italy ($49.2B), and France ($48.6B).

Tariffs: In 2018 the average tariff for Metals was 6.56%, been the 16 lowest tariff using the Section product classification.

The countries with the highest import tariffs for Metals are Bahamas (36.9%), Bermuda (24.7%), Sudan (22.7%), Iran (17.4%), and Chad (16.3%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), Norway (0%), and Mauritius (0.41%).

Ranking: Metals ranks 12th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $193B

Top Destination (2018): United States, $142B

Metals are the world's 5th most traded product.

In 2018, the top exporters of Metals were China ($193B), Germany ($116B), United States ($70.5B), Japan ($61.7B), and South Korea ($52.9B).

In 2018, the top importers of Metals were United States ($142B), Germany ($108B), China ($92.3B), Italy ($49.2B), and France ($48.6B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $21.6B

Top Destination Growth (2017 - 2018): United States, $16.8B

Between 2017 and 2018, the exports of Metals grew the fastest in China ($21.6B), Germany ($13.5B), United States ($10.2B), Italy ($8.37B), and Belgium-Luxembourg ($7.75B).

Between 2017 and 2018, the fastest growing importers of Metals were United States ($16.8B), Germany ($16.3B), Netherlands ($11.7B), Thailand ($8.73B), and France ($7.73B).

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Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Metals.

In 2018,  market concentration measured using Shannon Entropy, was 5.29. This means that most of the exports of Metals are explained by 39 countries.

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TOP NET EXPORTER (2018): China, $100B

TOP NET IMPORTER (2018): United States, $71.1B

This map shows which countries export or import more of Metals. Each country is colored based on the difference in exports and imports of Metals during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Metals were China ($100B), Russia ($32.8B), Japan ($24.5B), Chile ($15.3B), and South Korea ($14.5B).

In 2018, the countries that had a largest trade value in imports than in exports of Metals were United States ($71.1B), Mexico ($19B), Thailand ($15B), Vietnam ($13B), and United Kingdom ($11.1B).

Trade Forecasts

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This section shows forecasts for total trade for Metals. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Import Tariffs

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In 2018, the average tariff for importing Metals was 6.56%.  The countries with the highest tariffs for importing Metals were Bahamas (36.9%), Bermuda (24.7%), Sudan (22.7%), Iran (17.4%), and Chad (16.3%).

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Product Complexity

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Diversification Frontier

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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.