HS Icon Other Steel Bars

7228 (Harmonized System 1992 for 4-digit)

World Trade (2018): $16.6B, Rnk 222 / 1225

Top Exporter (2018): $5.09B, China

Top Importer (2018): $1.7B, Germany

Product Complexity (2018): 0.45, Rnk 396 / 1018

Export Growth (CAGR)(2017 - 2018): 26.7%, Rnk 206 / 1225

Mean Tariff (2018): 5.22%, Rnk 788 / 1259

Share of World Trade (2018): 0.09%, Rnk 222 / 1225

Overview:  This page contains the latest trade data of Other Steel Bars. In 2018, Other Steel Bars were the world's 222nd most traded product, with a total trade of $16.6B. Between 2017 and 2018 the exports of Other Steel Bars grew by 26.7%, from  $13.1B to $16.6B. Trade in Other Steel Bars represent 0.09% of total world trade.

Exports: In 2018 the top exporters of Other Steel Bars  were China ($5.09B), Germany ($1.71B), Japan ($1.04B), Italy ($788M), and Sweden ($700M).

Imports: In 2018 the top importers of Other Steel Bars were Germany ($1.7B), United States ($925M), China ($798M), Italy ($749M), and Mexico ($725M).

Tariffs: In 2018 the average tariff for Other Steel Bars was 5.22%, been the 788 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Other 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: Other Steel Bars ranks 396th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $5.09B

Top Destination (2018): Germany, $1.7B

Other Steel Bars are the world's 222nd most traded product.

In 2018, the top exporters of Other Steel Bars were China ($5.09B), Germany ($1.71B), Japan ($1.04B), Italy ($788M), and Sweden ($700M).

In 2018, the top importers of Other Steel Bars were Germany ($1.7B), United States ($925M), China ($798M), Italy ($749M), and Mexico ($725M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $1.15B

Top Destination Growth (2017 - 2018): Germany, $480M

Between 2017 and 2018, the exports of Other Steel Bars grew the fastest in China ($1.15B), Germany ($342M), Italy ($217M), South Korea ($210M), and Belgium-Luxembourg ($193M).

Between 2017 and 2018, the fastest growing importers of Other Steel Bars were Germany ($480M), Italy ($221M), Hong Kong ($177M), Belgium-Luxembourg ($170M), and Singapore ($151M).

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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 Other Steel Bars.

In 2018,  market concentration measured using Shannon Entropy, was 4.1. This means that most of the exports of Other Steel Bars are explained by 17 countries.

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TOP NET EXPORTER (2018): China, $4.29B

TOP NET IMPORTER (2018): Mexico, $692M

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

In 2018, the countries that had a largest trade value in exports than in imports of Other Steel Bars were China ($4.29B), Japan ($908M), Sweden ($513M), Russia ($509M), and Austria ($229M).

In 2018, the countries that had a largest trade value in imports than in exports of Other Steel Bars were Mexico ($692M), Thailand ($513M), Indonesia ($462M), Burma ($388M), and Malaysia ($370M).

Trade Forecasts

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This section shows forecasts for total trade for Other 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 Other Steel Bars was 5.22%.  The countries with the highest tariffs for importing Other Steel Bars were Bahamas (40.2%), Bermuda (25%), Kenya (23.6%), Tanzania (23.6%), and Uganda (23.5%).

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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.