HS Icon Iron Pipe Fittings

7307 (Harmonized System 1992 for 4-digit)

World Trade (2018): $19.4B, Rnk 191 / 1225

Top Exporter (2018): $4.86B, China

Top Importer (2018): $2.96B, United States

Product Complexity (2018): 1.19, Rnk 104 / 1018

Export Growth (CAGR)(2017 - 2018): 18.5%, Rnk 372 / 1225

Mean Tariff (2018): 7.58%, Rnk 580 / 1259

Share of World Trade (2018): 0.11%, Rnk 191 / 1225

Overview: In 2018, Iron Pipe Fittings were the world's 191st most traded product, with a total trade of $19.4B. Between 2017 and 2018 the exports of Iron Pipe Fittings grew by 18.5%, from  $16.4B to $19.4B. Trade in Iron Pipe Fittings represent 0.11% of total world trade.

Exports: In 2018 the top exporters of Iron Pipe Fittings  were China ($4.86B), Italy ($1.92B), Germany ($1.78B), United States ($1.76B), and South Korea ($969M).

Imports: In 2018 the top importers of Iron Pipe Fittings were United States ($2.96B), Germany ($1.48B), Canada ($876M), Japan ($798M), and France ($646M).

Tariffs: In 2018 the average tariff for Iron Pipe Fittings was 7.58%, been the 580 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Iron Pipe Fittings are Bahamas (40.4%), Bermuda (25%), Tanzania (23.6%), Rwanda (23.5%), and Uganda (23.5%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), Singapore (0%), and Switzerland (0%).

Ranking: Iron Pipe Fittings ranks 104th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $4.86B

Top Destination (2018): United States, $2.96B

Iron Pipe Fittings are the world's 191st most traded product.

In 2018, the top exporters of Iron Pipe Fittings were China ($4.86B), Italy ($1.92B), Germany ($1.78B), United States ($1.76B), and South Korea ($969M).

In 2018, the top importers of Iron Pipe Fittings were United States ($2.96B), Germany ($1.48B), Canada ($876M), Japan ($798M), and France ($646M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $752M

Top Destination Growth (2017 - 2018): United States, $699M

Between 2017 and 2018, the exports of Iron Pipe Fittings grew the fastest in China ($752M), Italy ($284M), United States ($230M), Germany ($206M), and India ($172M).

Between 2017 and 2018, the fastest growing importers of Iron Pipe Fittings were United States ($699M), Canada ($452M), Germany ($331M), France ($112M), and Netherlands ($103M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Iron Pipe Fittings.

In 2018,  market concentration measured using Shannon Entropy, was 4.32. This means that most of the exports of Iron Pipe Fittings are explained by 19 countries.

TOP NET EXPORTER (2018): China, $4.27B

TOP NET IMPORTER (2018): United States, $1.2B

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

In 2018, the countries that had a largest trade value in exports than imports of Iron Pipe Fittings were China ($4.27B), Italy ($1.44B), South Korea ($516M), India ($480M), and Germany ($302M).

In 2018, the countries that had a largest trade value in imports than exports of Iron Pipe Fittings were United States ($1.2B), Canada ($704M), Saudi Arabia ($386M), Japan ($355M), and France ($296M).

Trade Forecasts

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This section shows forecasts for total trade for Iron Pipe Fittings. 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 Pipe Fittings was 7.58%.  The countries with the highest tariffs for importing Iron Pipe Fittings were Bahamas (40.4%), Bermuda (25%), Tanzania (23.6%), Rwanda (23.5%), and Uganda (23.5%).

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Product Complexity

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Diversification Frontier

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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.