HS Icon Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes

720712 (Harmonized System 1992 for 6-digit)

World Trade (2018): $14.8B, Rnk 193 / 4726

Top Exporter (2018): $4.62B, Russia

Top Importer (2018): $3.12B, United States

Product Complexity (2018): 0.058, Rnk 2525 / 4873

Export Growth (CAGR)(2017 - 2018): 20.2%, Rnk 1361 / 4726

Mean Tariff (2018): 3.65%, Rnk 5310 / 6538

Share of World Trade (2018): 0.08%, Rnk 193 / 4726

Overview:  This page contains the latest trade data of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes. In 2018, Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were the world's 193rd most traded product, with a total trade of $14.8B. Between 2017 and 2018 the exports of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes grew by 20.2%, from  $12.3B to $14.8B. Trade in Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes represent 0.08% of total world trade.

Exports: In 2018 the top exporters of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes  were Russia ($4.62B), Brazil ($3.28B), Ukraine ($1.3B), Japan ($1.13B), and Mexico ($893M).

Imports: In 2018 the top importers of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were United States ($3.12B), Mexico ($1.45B), Chinese Taipei ($1.44B), Italy ($1.25B), and Belgium-Luxembourg ($1.18B).

Tariffs: In 2018 the average tariff for Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes was 3.65%, been the 5310 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes are Bahamas (41.8%), Bermuda (25%), Sudan (21.9%), Bangladesh (20.1%), and Tunisia (20%). The countries with the lowest tariffs are Egypt (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes ranks 2525th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Russia, $4.62B

Top Destination (2018): United States, $3.12B

Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes are the world's 193rd most traded product.

In 2018, the top exporters of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were Russia ($4.62B), Brazil ($3.28B), Ukraine ($1.3B), Japan ($1.13B), and Mexico ($893M).

In 2018, the top importers of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were United States ($3.12B), Mexico ($1.45B), Chinese Taipei ($1.44B), Italy ($1.25B), and Belgium-Luxembourg ($1.18B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Mexico, $578M

Top Destination Growth (2017 - 2018): United States, $975M

Between 2017 and 2018, the exports of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes grew the fastest in Mexico ($578M), Iran ($412M), Brazil ($309M), Russia ($261M), and Ukraine ($209M).

Between 2017 and 2018, the fastest growing importers of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were United States ($975M), Thailand ($454M), Belgium-Luxembourg ($430M), Chinese Taipei ($390M), and Mexico ($244M).

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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 Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes.

In 2018,  market concentration measured using Shannon Entropy, was 3.28. This means that most of the exports of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes are explained by 9 countries.

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TOP NET EXPORTER (2018): Russia, $4.62B

TOP NET IMPORTER (2018): United States, $3.12B

This map shows which countries export or import more of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes. Each country is colored based on the difference in exports and imports of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were Russia ($4.62B), Brazil ($3.23B), Ukraine ($1.3B), Japan ($980M), and Iran ($604M).

In 2018, the countries that had a largest trade value in imports than in exports of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were United States ($3.12B), Chinese Taipei ($1.44B), Italy ($1.24B), Belgium-Luxembourg ($1.14B), and Turkey ($1.01B).

Trade Forecasts

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This section shows forecasts for total trade for Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes. 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 Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes was 3.65%.  The countries with the highest tariffs for importing Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were Bahamas (41.8%), Bermuda (25%), Sudan (21.9%), Bangladesh (20.1%), 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.