HS Icon Iron Wire

7217 (Harmonized System 1992 for 4-digit)

World Trade (2018): $7.81B, Rnk 393 / 1225

Top Exporter (2018): $1.71B, China

Top Importer (2018): $641M, Germany

Product Complexity (2018): -0.46, Rnk 684 / 1018

Export Growth (CAGR)(2017 - 2018): 22.4%, Rnk 279 / 1225

Mean Tariff (2018): 7.05%, Rnk 615 / 1259

Share of World Trade (2018): 0.042%, Rnk 393 / 1225

Overview: In 2018, Iron Wire were the world's 393rd most traded product, with a total trade of $7.81B. Between 2017 and 2018 the exports of Iron Wire grew by 22.4%, from  $6.38B to $7.81B. Trade in Iron Wire represent 0.042% of total world trade.

Exports: In 2018 the top exporters of Iron Wire  were China ($1.71B), Germany ($559M), Italy ($510M), South Korea ($391M), and Czechia ($349M).

Imports: In 2018 the top importers of Iron Wire were Germany ($641M), United States ($633M), Poland ($345M), France ($337M), and India ($217M).

Tariffs: In 2018 the average tariff for Iron Wire was 7.05%, been the 615 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Iron Wire are Bahamas (40.2%), Bermuda (25%), Iran (21.2%), Tunisia (20%), and Angola (20%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), South Korea (0%), and Singapore (0%).

Ranking: Iron Wire ranks 684th in the Product Complexity Index (PCI).

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2018): China, $1.71B

Top Destination (2018): Germany, $641M

Iron Wire are the world's 393rd most traded product.

In 2018, the top exporters of Iron Wire were China ($1.71B), Germany ($559M), Italy ($510M), South Korea ($391M), and Czechia ($349M).

In 2018, the top importers of Iron Wire were Germany ($641M), United States ($633M), Poland ($345M), France ($337M), and India ($217M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2017 -  2018): China, $342M

Top Destination Growth (2017 - 2018): Germany, $155M

Between 2017 and 2018, the exports of Iron Wire grew the fastest in China ($342M), Italy ($153M), Turkey ($112M), Czechia ($102M), and Germany ($73.1M).

Between 2017 and 2018, the fastest growing importers of Iron Wire were Germany ($155M), Poland ($82.8M), India ($51.5M), France ($50.1M), and Vietnam ($48.3M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Iron Wire.

In 2018,  market concentration measured using Shannon Entropy, was 4.66. This means that most of the exports of Iron Wire are explained by 25 countries.

Explore Visualizations

TOP NET EXPORTER (2018): China, $1.56B

TOP NET IMPORTER (2018): United States, $481M

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

In 2018, the countries that had a largest trade value in exports than in imports of Iron Wire were China ($1.56B), Italy ($307M), South Korea ($248M), Slovakia ($218M), and Turkey ($207M).

In 2018, the countries that had a largest trade value in imports than in exports of Iron Wire were United States ($481M), Poland ($252M), Switzerland ($210M), India ($167M), and United Kingdom ($124M).

Trade Forecasts

#permalink to section

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

Explore Forecasts

Import Tariffs

#permalink to section

In 2018, the average tariff for importing Iron Wire was 7.05%.  The countries with the highest tariffs for importing Iron Wire were Bahamas (40.2%), Bermuda (25%), Iran (21.2%), Tunisia (20%), and Angola (20%).

Explore Tariff Data

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
Filter

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.