HS Icon Flat Flat-Rolled Steel

7225 (Harmonized System 1992 for 4-digit)

World Trade (2018): $34.4B, Rnk 106 / 1225

Top Exporter (2018): $8.82B, China

Top Importer (2018): $2.47B, China

Product Complexity (2018): 1.46, Rnk 55 / 1018

Export Growth (CAGR)(2017 - 2018): 13.9%, Rnk 573 / 1225

Mean Tariff (2018): 4.82%, Rnk 849 / 1259

Share of World Trade (2018): 0.19%, Rnk 106 / 1225

Overview: In 2018, Flat Flat-Rolled Steel were the world's 106th most traded product, with a total trade of $34.4B. Between 2017 and 2018 the exports of Flat Flat-Rolled Steel grew by 13.9%, from  $30.2B to $34.4B. Trade in Flat Flat-Rolled Steel represent 0.19% of total world trade.

Exports: In 2018 the top exporters of Flat Flat-Rolled Steel  were China ($8.82B), Japan ($4.79B), Germany ($3.24B), Belgium-Luxembourg ($2.34B), and France ($2.29B).

Imports: In 2018 the top importers of Flat Flat-Rolled Steel were China ($2.47B), Vietnam ($2.39B), Germany ($2.29B), Mexico ($2.03B), and United States ($1.72B).

Tariffs: In 2018 the average tariff for Flat Flat-Rolled Steel was 4.82%, been the 849 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Flat Flat-Rolled Steel are Bahamas (40.2%), Bermuda (25%), Sudan (21.9%), Cameroon (17.4%), and Gabon (17.4%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Zambia (0%), Hong Kong (0%), and Indonesia (0%).

Ranking: Flat Flat-Rolled Steel ranks 55th in the Product Complexity Index (PCI).

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2018): China, $8.82B

Top Destination (2018): China, $2.47B

Flat Flat-Rolled Steel are the world's 106th most traded product.

In 2018, the top exporters of Flat Flat-Rolled Steel were China ($8.82B), Japan ($4.79B), Germany ($3.24B), Belgium-Luxembourg ($2.34B), and France ($2.29B).

In 2018, the top importers of Flat Flat-Rolled Steel were China ($2.47B), Vietnam ($2.39B), Germany ($2.29B), Mexico ($2.03B), and United States ($1.72B).

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2017 -  2018): China, $1.24B

Top Destination Growth (2017 - 2018): Thailand, $322M

Between 2017 and 2018, the exports of Flat Flat-Rolled Steel grew the fastest in China ($1.24B), Japan ($704M), Germany ($389M), Belgium-Luxembourg ($362M), and Austria ($352M).

Between 2017 and 2018, the fastest growing importers of Flat Flat-Rolled Steel were Thailand ($322M), Germany ($315M), France ($241M), United States ($240M), and China ($234M).

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Flat Flat-Rolled Steel.

In 2018,  market concentration measured using Shannon Entropy, was 3.8. This means that most of the exports of Flat Flat-Rolled Steel are explained by 13 countries.

TOP NET EXPORTER (2018): China, $6.34B

TOP NET IMPORTER (2018): Vietnam, $2.3B

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

In 2018, the countries that had a largest trade value in exports than imports of Flat Flat-Rolled Steel were China ($6.34B), Japan ($4.5B), Austria ($1.57B), France ($1.44B), and Belgium-Luxembourg ($1.25B).

In 2018, the countries that had a largest trade value in imports than exports of Flat Flat-Rolled Steel were Vietnam ($2.3B), Mexico ($1.99B), India ($1.44B), Thailand ($1.41B), and Indonesia ($1.17B).

Trade Forecasts

#permalink to section

This section shows forecasts for total trade for Flat Flat-Rolled Steel. 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 Flat Flat-Rolled Steel was 4.82%.  The countries with the highest tariffs for importing Flat Flat-Rolled Steel were Bahamas (40.2%), Bermuda (25%), Sudan (21.9%), Cameroon (17.4%), and Gabon (17.4%).

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.