HS Icon Iron Blocks

7216 (Harmonized System 1992 for 4-digit)

World Trade (2018): $14.8B, Rnk 247 / 1225

Top Exporter (2018): $1.69B, Spain

Top Importer (2018): $1.17B, Germany

Product Complexity (2018): -0.36, Rnk 653 / 1018

Export Growth (CAGR)(2017 - 2018): 25.1%, Rnk 230 / 1225

Mean Tariff (2018): 6.18%, Rnk 682 / 1259

Share of World Trade (2018): 0.08%, Rnk 247 / 1225

Overview: In 2018, Iron Blocks were the world's 247th most traded product, with a total trade of $14.8B. Between 2017 and 2018 the exports of Iron Blocks grew by 25.1%, from  $11.8B to $14.8B. Trade in Iron Blocks represent 0.08% of total world trade.

Exports: In 2018 the top exporters of Iron Blocks  were Spain ($1.69B), Germany ($1.63B), Belgium-Luxembourg ($1.27B), Turkey ($1.1B), and China ($1.01B).

Imports: In 2018 the top importers of Iron Blocks were Germany ($1.17B), France ($757M), Canada ($706M), United States ($660M), and United Kingdom ($639M).

Tariffs: In 2018 the average tariff for Iron Blocks was 6.18%, been the 682 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Iron Blocks are Bahamas (40.9%), Sudan (35%), Bermuda (25%), Tunisia (20%), and Angola (20%). The countries with the lowest tariffs are Zambia (0%), Hong Kong (0%), Japan (0%), South Korea (0%), and Singapore (0%).

Ranking: Iron Blocks ranks 653rd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Spain, $1.69B

Top Destination (2018): Germany, $1.17B

Iron Blocks are the world's 247th most traded product.

In 2018, the top exporters of Iron Blocks were Spain ($1.69B), Germany ($1.63B), Belgium-Luxembourg ($1.27B), Turkey ($1.1B), and China ($1.01B).

In 2018, the top importers of Iron Blocks were Germany ($1.17B), France ($757M), Canada ($706M), United States ($660M), and United Kingdom ($639M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Turkey, $375M

Top Destination Growth (2017 - 2018): Germany, $288M

Between 2017 and 2018, the exports of Iron Blocks grew the fastest in Turkey ($375M), Germany ($299M), Spain ($260M), Belgium-Luxembourg ($233M), and Poland ($172M).

Between 2017 and 2018, the fastest growing importers of Iron Blocks were Germany ($288M), United Kingdom ($219M), Canada ($159M), France ($127M), and United Arab Emirates ($119M).

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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 Iron Blocks.

In 2018,  market concentration measured using Shannon Entropy, was 4.78. This means that most of the exports of Iron Blocks are explained by 27 countries.

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TOP NET EXPORTER (2018): Spain, $1.55B

TOP NET IMPORTER (2018): Canada, $576M

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

In 2018, the countries that had a largest trade value in exports than in imports of Iron Blocks were Spain ($1.55B), Belgium-Luxembourg ($960M), Turkey ($877M), China ($840M), and Germany ($467M).

In 2018, the countries that had a largest trade value in imports than in exports of Iron Blocks were Canada ($576M), France ($539M), Netherlands ($372M), United Kingdom ($361M), and Malaysia ($314M).

Trade Forecasts

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This section shows forecasts for total trade for Iron Blocks. 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 Iron Blocks was 6.18%.  The countries with the highest tariffs for importing Iron Blocks were Bahamas (40.9%), Sudan (35%), Bermuda (25%), Tunisia (20%), and Angola (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.