HS Icon Small Iron Containers

7310 (Harmonized System 1992 for 4-digit)

World Trade (2018): $6.54B, Rnk 441 / 1225

Top Exporter (2018): $1.03B, China

Top Importer (2018): $647M, United States

Product Complexity (2018): 0.1, Rnk 504 / 1018

Export Growth (CAGR)(2017 - 2018): 11.3%, Rnk 705 / 1225

Mean Tariff (2018): 8.4%, Rnk 515 / 1259

Share of World Trade (2018): 0.036%, Rnk 441 / 1225

Overview: In 2018, Small Iron Containers were the world's 441st most traded product, with a total trade of $6.54B. Between 2017 and 2018 the exports of Small Iron Containers grew by 11.3%, from  $5.87B to $6.54B. Trade in Small Iron Containers represent 0.036% of total world trade.

Exports: In 2018 the top exporters of Small Iron Containers  were China ($1.03B), Germany ($657M), United States ($454M), Italy ($431M), and Spain ($386M).

Imports: In 2018 the top importers of Small Iron Containers were United States ($647M), Germany ($520M), France ($461M), Belgium-Luxembourg ($449M), and Netherlands ($390M).

Tariffs: In 2018 the average tariff for Small Iron Containers was 8.4%, been the 515 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Small Iron Containers are Bahamas (41.8%), Bermuda (25%), Iran (24.2%), Bangladesh (21.7%), and Angola (20.7%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Singapore (0%), Switzerland (0%), and Norway (0%).

Ranking: Small Iron Containers ranks 504th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $1.03B

Top Destination (2018): United States, $647M

Small Iron Containers are the world's 441st most traded product.

In 2018, the top exporters of Small Iron Containers were China ($1.03B), Germany ($657M), United States ($454M), Italy ($431M), and Spain ($386M).

In 2018, the top importers of Small Iron Containers were United States ($647M), Germany ($520M), France ($461M), Belgium-Luxembourg ($449M), and Netherlands ($390M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $115M

Top Destination Growth (2017 - 2018): United States, $98.6M

Between 2017 and 2018, the exports of Small Iron Containers grew the fastest in China ($115M), Mexico ($78.6M), South Korea ($68.1M), Tanzania ($66.9M), and United States ($43M).

Between 2017 and 2018, the fastest growing importers of Small Iron Containers were United States ($98.6M), Germany ($92.7M), United Kingdom ($61.2M), France ($40.4M), and Japan ($37.7M).

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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 Small Iron Containers.

In 2018,  market concentration measured using Shannon Entropy, was 4.87. This means that most of the exports of Small Iron Containers are explained by 29 countries.

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TOP NET EXPORTER (2018): China, $922M

TOP NET IMPORTER (2018): Belgium-Luxembourg, $307M

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

In 2018, the countries that had a largest trade value in exports than in imports of Small Iron Containers were China ($922M), Italy ($366M), Spain ($213M), Germany ($138M), and Czechia ($97.7M).

In 2018, the countries that had a largest trade value in imports than in exports of Small Iron Containers were Belgium-Luxembourg ($307M), Canada ($249M), France ($213M), United States ($193M), and United Kingdom ($87.8M).

Trade Forecasts

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This section shows forecasts for total trade for Small Iron Containers. 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 Small Iron Containers was 8.4%.  The countries with the highest tariffs for importing Small Iron Containers were Bahamas (41.8%), Bermuda (25%), Iran (24.2%), Bangladesh (21.7%), and Angola (20.7%).

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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.