HS Icon Iron Pipes

7304 (Harmonized System 1992 for 4-digit)

World Trade (2018): $27.1B, Rnk 139 / 1225

Top Exporter (2018): $5.48B, China

Top Importer (2018): $3.8B, United States

Product Complexity (2018): -0.031, Rnk 559 / 1018

Export Growth (CAGR)(2017 - 2018): 23.2%, Rnk 257 / 1225

Mean Tariff (2018): 5.84%, Rnk 723 / 1259

Share of World Trade (2018): 0.15%, Rnk 139 / 1225

Overview: In 2018, Iron Pipes were the world's 139th most traded product, with a total trade of $27.1B. Between 2017 and 2018 the exports of Iron Pipes grew by 23.2%, from  $22B to $27.1B. Trade in Iron Pipes represent 0.15% of total world trade.

Exports: In 2018 the top exporters of Iron Pipes  were China ($5.48B), Japan ($2.72B), Germany ($2.38B), Italy ($1.36B), and Spain ($1.3B).

Imports: In 2018 the top importers of Iron Pipes were United States ($3.8B), Germany ($1.05B), Canada ($1.02B), India ($956M), and China ($866M).

Tariffs: In 2018 the average tariff for Iron Pipes was 5.84%, been the 723 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Iron Pipes are Bahamas (40.2%), Sudan (28.9%), Bermuda (25%), Nepal (19.8%), and Fiji (18%). The countries with the lowest tariffs are Mauritius (0%), Uganda (0%), Hong Kong (0%), Japan (0%), and South Korea (0%).

Ranking: Iron Pipes ranks 559th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $5.48B

Top Destination (2018): United States, $3.8B

Iron Pipes are the world's 139th most traded product.

In 2018, the top exporters of Iron Pipes were China ($5.48B), Japan ($2.72B), Germany ($2.38B), Italy ($1.36B), and Spain ($1.3B).

In 2018, the top importers of Iron Pipes were United States ($3.8B), Germany ($1.05B), Canada ($1.02B), India ($956M), and China ($866M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $970M

Top Destination Growth (2017 - 2018): Singapore, $505M

Between 2017 and 2018, the exports of Iron Pipes grew the fastest in China ($970M), Spain ($544M), Japan ($380M), Singapore ($304M), and Russia ($294M).

Between 2017 and 2018, the fastest growing importers of Iron Pipes were Singapore ($505M), India ($497M), United States ($441M), Iran ($279M), and Azerbaijan ($264M).

Market Concentration

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Cumulative market share

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

In 2018,  market concentration measured using Shannon Entropy, was 4.57. This means that most of the exports of Iron Pipes are explained by 23 countries.

TOP NET EXPORTER (2018): China, $4.61B

TOP NET IMPORTER (2018): United States, $2.81B

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

In 2018, the countries that had a largest trade value in exports than imports of Iron Pipes were China ($4.61B), Japan ($2.63B), Germany ($1.33B), Spain ($960M), and Mexico ($894M).

In 2018, the countries that had a largest trade value in imports than exports of Iron Pipes were United States ($2.81B), Canada ($785M), Iran ($648M), Saudi Arabia ($580M), and India ($580M).

Trade Forecasts

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This section shows forecasts for total trade for Iron Pipes. 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 Iron Pipes was 5.84%.  The countries with the highest tariffs for importing Iron Pipes were Bahamas (40.2%), Sudan (28.9%), Bermuda (25%), Nepal (19.8%), and Fiji (18%).

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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.