HS Icon Hot-Rolled Iron Bars

7213 (Harmonized System 1992 for 4-digit)

World Trade (2018): $13.2B, Rnk 272 / 1225

Top Exporter (2018): $1.23B, Germany

Top Importer (2018): $805M, United States

Product Complexity (2018): 0.22, Rnk 462 / 1018

Export Growth (CAGR)(2017 - 2018): 32.9%, Rnk 146 / 1225

Mean Tariff (2018): 7.27%, Rnk 601 / 1259

Share of World Trade (2018): 0.072%, Rnk 272 / 1225

Overview: In 2018, Hot-Rolled Iron Bars were the world's 272nd most traded product, with a total trade of $13.2B. Between 2017 and 2018 the exports of Hot-Rolled Iron Bars grew by 32.9%, from  $9.96B to $13.2B. Trade in Hot-Rolled Iron Bars represent 0.072% of total world trade.

Exports: In 2018 the top exporters of Hot-Rolled Iron Bars  were Germany ($1.23B), Turkey ($1.06B), China ($914M), Spain ($734M), and Japan ($716M).

Imports: In 2018 the top importers of Hot-Rolled Iron Bars were United States ($805M), Germany ($792M), Netherlands ($769M), Italy ($610M), and France ($488M).

Tariffs: In 2018 the average tariff for Hot-Rolled Iron Bars was 7.27%, been the 601 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Hot-Rolled Iron Bars are Bahamas (40.2%), Bermuda (25%), Turkey (25%), Zambia (22.7%), and Sudan (21.9%). The countries with the lowest tariffs are Egypt (0%), Hong Kong (0%), Japan (0%), South Korea (0%), and Singapore (0%).

Ranking: Hot-Rolled Iron Bars ranks 462nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $1.23B

Top Destination (2018): United States, $805M

Hot-Rolled Iron Bars are the world's 272nd most traded product.

In 2018, the top exporters of Hot-Rolled Iron Bars were Germany ($1.23B), Turkey ($1.06B), China ($914M), Spain ($734M), and Japan ($716M).

In 2018, the top importers of Hot-Rolled Iron Bars were United States ($805M), Germany ($792M), Netherlands ($769M), Italy ($610M), and France ($488M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Turkey, $441M

Top Destination Growth (2017 - 2018): Philippines, $240M

Between 2017 and 2018, the exports of Hot-Rolled Iron Bars grew the fastest in Turkey ($441M), China ($307M), Belgium-Luxembourg ($252M), Saudi Arabia ($217M), and Vietnam ($170M).

Between 2017 and 2018, the fastest growing importers of Hot-Rolled Iron Bars were Philippines ($240M), Vietnam ($173M), Italy ($172M), Belgium-Luxembourg ($165M), and Thailand ($159M).

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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 Hot-Rolled Iron Bars.

In 2018,  market concentration measured using Shannon Entropy, was 4.95. This means that most of the exports of Hot-Rolled Iron Bars are explained by 30 countries.

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TOP NET EXPORTER (2018): Turkey, $852M

TOP NET IMPORTER (2018): United States, $712M

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

In 2018, the countries that had a largest trade value in exports than in imports of Hot-Rolled Iron Bars were Turkey ($852M), China ($724M), Russia ($603M), Japan ($558M), and Germany ($436M).

In 2018, the countries that had a largest trade value in imports than in exports of Hot-Rolled Iron Bars were United States ($712M), Netherlands ($699M), Israel ($468M), Romania ($354M), and Thailand ($315M).

Trade Forecasts

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This section shows forecasts for total trade for Hot-Rolled Iron Bars. 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 Hot-Rolled Iron Bars was 7.27%.  The countries with the highest tariffs for importing Hot-Rolled Iron Bars were Bahamas (40.2%), Bermuda (25%), Turkey (25%), Zambia (22.7%), and Sudan (21.9%).

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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.