HS Icon Hot-Rolled Stainless Steel Bars

7221 (Harmonized System 1992 for 4-digit)

World Trade (2018): $2.11B, Rnk 724 / 1225

Top Exporter (2018): $380M, Chinese Taipei

Top Importer (2018): $326M, Italy

Product Complexity (2018): 1.76, Rnk 18 / 1018

Export Growth (CAGR)(2017 - 2018): 18.3%, Rnk 380 / 1225

Mean Tariff (2018): 4.89%, Rnk 838 / 1259

Share of World Trade (2018): 0.011%, Rnk 724 / 1225

Overview:  This page contains the latest trade data of Hot-Rolled Stainless Steel Bars. In 2018, Hot-Rolled Stainless Steel Bars were the world's 724th most traded product, with a total trade of $2.11B. Between 2017 and 2018 the exports of Hot-Rolled Stainless Steel Bars grew by 18.3%, from  $1.78B to $2.11B. Trade in Hot-Rolled Stainless Steel Bars represent 0.011% of total world trade.

Exports: In 2018 the top exporters of Hot-Rolled Stainless Steel Bars  were Chinese Taipei ($380M), Italy ($257M), China ($256M), Japan ($246M), and France ($228M).

Imports: In 2018 the top importers of Hot-Rolled Stainless Steel Bars were Italy ($326M), Germany ($270M), China ($163M), Thailand ($158M), and South Korea ($152M).

Tariffs: In 2018 the average tariff for Hot-Rolled Stainless Steel Bars was 4.89%, been the 838 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Hot-Rolled Stainless Steel Bars are Bahamas (40.2%), Bermuda (25%), Sudan (21.9%), Angola (20%), and Cameroon (19.6%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Zambia (0%), Hong Kong (0%), and Japan (0%).

Ranking: Hot-Rolled Stainless Steel Bars ranks 18th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Chinese Taipei, $380M

Top Destination (2018): Italy, $326M

Hot-Rolled Stainless Steel Bars are the world's 724th most traded product.

In 2018, the top exporters of Hot-Rolled Stainless Steel Bars were Chinese Taipei ($380M), Italy ($257M), China ($256M), Japan ($246M), and France ($228M).

In 2018, the top importers of Hot-Rolled Stainless Steel Bars were Italy ($326M), Germany ($270M), China ($163M), Thailand ($158M), and South Korea ($152M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Chinese Taipei, $163M

Top Destination Growth (2017 - 2018): Thailand, $89.9M

Between 2017 and 2018, the exports of Hot-Rolled Stainless Steel Bars grew the fastest in Chinese Taipei ($163M), China ($90.1M), South Korea ($39M), Sweden ($18.5M), and Italy ($17.2M).

Between 2017 and 2018, the fastest growing importers of Hot-Rolled Stainless Steel Bars were Thailand ($89.9M), Vietnam ($56.6M), Germany ($43.9M), Italy ($28.7M), and Czechia ($22.1M).

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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 Stainless Steel Bars.

In 2018,  market concentration measured using Shannon Entropy, was 3.51. This means that most of the exports of Hot-Rolled Stainless Steel Bars are explained by 11 countries.

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TOP NET EXPORTER (2018): Chinese Taipei, $313M

TOP NET IMPORTER (2018): Germany, $252M

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

In 2018, the countries that had a largest trade value in exports than in imports of Hot-Rolled Stainless Steel Bars were Chinese Taipei ($313M), Japan ($220M), France ($196M), Spain ($149M), and Sweden ($128M).

In 2018, the countries that had a largest trade value in imports than in exports of Hot-Rolled Stainless Steel Bars were Germany ($252M), Thailand ($156M), Vietnam ($121M), Switzerland ($111M), and United States ($106M).

Trade Forecasts

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This section shows forecasts for total trade for Hot-Rolled Stainless Steel 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 Stainless Steel Bars was 4.89%.  The countries with the highest tariffs for importing Hot-Rolled Stainless Steel Bars were Bahamas (40.2%), Bermuda (25%), Sudan (21.9%), Angola (20%), and Cameroon (19.6%).

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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.