HS Icon Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes

720711 (Harmonized System 1992 for 6-digit)

World Trade (2018): $7.87B, Rnk 406 / 4726

Top Exporter (2018): $2.17B, Russia

Top Importer (2018): $786M, Chinese Taipei

Product Complexity (2018): -0.98, Rnk 3992 / 4873

Export Growth (CAGR)(2017 - 2018): 19.8%, Rnk 1397 / 4726

Mean Tariff (2018): 3.6%, Rnk 5346 / 6538

Share of World Trade (2018): 0.043%, Rnk 406 / 4726

Overview:  This page contains the latest trade data of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes. In 2018, Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes were the world's 406th most traded product, with a total trade of $7.87B. Between 2017 and 2018 the exports of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes grew by 19.8%, from  $6.57B to $7.87B. Trade in Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes represent 0.043% of total world trade.

Exports: In 2018 the top exporters of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes  were Russia ($2.17B), Ukraine ($1.18B), Iran ($756M), France ($304M), and Turkey ($288M).

Imports: In 2018 the top importers of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes were Chinese Taipei ($786M), Turkey ($767M), United Arab Emirates ($605M), Oman ($473M), and Philippines ($471M).

Tariffs: In 2018 the average tariff for Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes was 3.6%, been the 5346 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes are Bahamas (41.8%), Bermuda (25%), Sudan (21.9%), Bangladesh (21.1%), and Tunisia (20%). The countries with the lowest tariffs are Egypt (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes ranks 3992nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Russia, $2.17B

Top Destination (2018): Chinese Taipei, $786M

Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes are the world's 406th most traded product.

In 2018, the top exporters of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes were Russia ($2.17B), Ukraine ($1.18B), Iran ($756M), France ($304M), and Turkey ($288M).

In 2018, the top importers of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes were Chinese Taipei ($786M), Turkey ($767M), United Arab Emirates ($605M), Oman ($473M), and Philippines ($471M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Iran, $586M

Top Destination Growth (2017 - 2018): United Arab Emirates, $536M

Between 2017 and 2018, the exports of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes grew the fastest in Iran ($586M), Russia ($375M), Saudi Arabia ($190M), United Arab Emirates ($149M), and Qatar ($106M).

Between 2017 and 2018, the fastest growing importers of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes were United Arab Emirates ($536M), Oman ($339M), Thailand ($195M), Chinese Taipei ($173M), and Egypt ($78.7M).

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

In 2018,  market concentration measured using Shannon Entropy, was 4.11. This means that most of the exports of Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes are explained by 17 countries.

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TOP NET EXPORTER (2018): Russia, $2.09B

TOP NET IMPORTER (2018): Chinese Taipei, $728M

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 2018.

In 2018, 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 ($2.09B), Ukraine ($1.18B), Iran ($756M), India ($248M), and Japan ($220M).

In 2018, 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 Chinese Taipei ($728M), Turkey ($479M), Algeria ($470M), Egypt ($419M), and United Arab Emirates ($386M).

Trade Forecasts

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This section shows forecasts for total trade for Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes. 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 Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes was 3.6%.  The countries with the highest tariffs for importing Rectangular iron or non-alloy steel bars, <.25%C, width< twice thicknes were Bahamas (41.8%), Bermuda (25%), Sudan (21.9%), Bangladesh (21.1%), and Tunisia (20%).

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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.