HS Icon Steel Bars

7227 (Harmonized System 1992 for 4-digit)

World Trade (2018): $5.75B, Rnk 468 / 1225

Top Exporter (2018): $2.43B, China

Top Importer (2018): $577M, Thailand

Product Complexity (2018): 0.65, Rnk 306 / 1018

Export Growth (CAGR)(2017 - 2018): 8.65%, Rnk 837 / 1225

Mean Tariff (2018): 6.03%, Rnk 699 / 1259

Share of World Trade (2018): 0.031%, Rnk 468 / 1225

Overview:  This page contains the latest trade data of Steel Bars. In 2018, Steel Bars were the world's 468th most traded product, with a total trade of $5.75B. Between 2017 and 2018 the exports of Steel Bars grew by 8.65%, from  $5.29B to $5.75B. Trade in Steel Bars represent 0.031% of total world trade.

Exports: In 2018 the top exporters of Steel Bars  were China ($2.43B), Japan ($735M), Germany ($439M), Austria ($285M), and Italy ($235M).

Imports: In 2018 the top importers of Steel Bars were Thailand ($577M), United States ($449M), South Korea ($425M), Germany ($411M), and Italy ($411M).

Tariffs: In 2018 the average tariff for Steel Bars was 6.03%, been the 699 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Steel Bars are Bahamas (40.2%), Bermuda (25%), Kenya (23.6%), Tanzania (23.6%), and Uganda (23.5%). The countries with the lowest tariffs are Mauritius (0%), Zambia (0%), Hong Kong (0%), Japan (0%), and South Korea (0%).

Ranking: Steel Bars ranks 306th in the Product Complexity Index (PCI).

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2018): China, $2.43B

Top Destination (2018): Thailand, $577M

Steel Bars are the world's 468th most traded product.

In 2018, the top exporters of Steel Bars were China ($2.43B), Japan ($735M), Germany ($439M), Austria ($285M), and Italy ($235M).

In 2018, the top importers of Steel Bars were Thailand ($577M), United States ($449M), South Korea ($425M), Germany ($411M), and Italy ($411M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $92.8M

Top Destination Growth (2017 - 2018): Germany, $98.8M

Between 2017 and 2018, the exports of Steel Bars grew the fastest in Germany ($92.8M), Japan ($65.1M), Austria ($48.3M), Italy ($47.6M), and Spain ($39.8M).

Between 2017 and 2018, the fastest growing importers of Steel Bars were Germany ($98.8M), Italy ($83.1M), Thailand ($72.3M), India ($55.2M), and Czechia ($53.1M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Steel Bars.

In 2018,  market concentration measured using Shannon Entropy, was 3.35. This means that most of the exports of Steel Bars are explained by 10 countries.

Explore Visualizations

TOP NET EXPORTER (2018): China, $2.21B

TOP NET IMPORTER (2018): Thailand, $568M

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

In 2018, the countries that had a largest trade value in exports than in imports of Steel Bars were China ($2.21B), Japan ($654M), Austria ($255M), Canada ($160M), and Spain ($124M).

In 2018, the countries that had a largest trade value in imports than in exports of Steel Bars were Thailand ($568M), United States ($418M), Indonesia ($360M), South Korea ($263M), and Vietnam ($193M).

Trade Forecasts

#permalink to section

This section shows forecasts for total trade for Steel Bars. 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 Steel Bars was 6.03%.  The countries with the highest tariffs for importing Steel Bars were Bahamas (40.2%), Bermuda (25%), Kenya (23.6%), Tanzania (23.6%), and Uganda (23.5%).

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.