HS Icon Stranded Iron Wire

7312 (Harmonized System 1992 for 4-digit)

World Trade (2018): $7.08B, Rnk 420 / 1225

Top Exporter (2018): $1.84B, China

Top Importer (2018): $977M, United States

Product Complexity (2018): 0.14, Rnk 489 / 1018

Export Growth (CAGR)(2017 - 2018): 16.5%, Rnk 457 / 1225

Mean Tariff (2018): 8.59%, Rnk 500 / 1259

Share of World Trade (2018): 0.039%, Rnk 420 / 1225

Overview: In 2018, Stranded Iron Wire were the world's 420th most traded product, with a total trade of $7.08B. Between 2017 and 2018 the exports of Stranded Iron Wire grew by 16.5%, from  $6.08B to $7.08B. Trade in Stranded Iron Wire represent 0.039% of total world trade.

Exports: In 2018 the top exporters of Stranded Iron Wire  were China ($1.84B), South Korea ($550M), Germany ($453M), Vietnam ($384M), and United States ($305M).

Imports: In 2018 the top importers of Stranded Iron Wire were United States ($977M), Germany ($417M), Spain ($244M), Thailand ($242M), and Belgium-Luxembourg ($231M).

Tariffs: In 2018 the average tariff for Stranded Iron Wire was 8.59%, been the 500 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Stranded Iron Wire are Bahamas (40.2%), Iran (28%), Bangladesh (25%), Bermuda (25%), and Sudan (21.9%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), South Korea (0%), and Sri Lanka (0%).

Ranking: Stranded Iron Wire ranks 489th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $1.84B

Top Destination (2018): United States, $977M

Stranded Iron Wire are the world's 420th most traded product.

In 2018, the top exporters of Stranded Iron Wire were China ($1.84B), South Korea ($550M), Germany ($453M), Vietnam ($384M), and United States ($305M).

In 2018, the top importers of Stranded Iron Wire were United States ($977M), Germany ($417M), Spain ($244M), Thailand ($242M), and Belgium-Luxembourg ($231M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $275M

Top Destination Growth (2017 - 2018): United States, $146M

Between 2017 and 2018, the exports of Stranded Iron Wire grew the fastest in China ($275M), Thailand ($104M), Germany ($77M), United States ($61.5M), and Vietnam ($58.7M).

Between 2017 and 2018, the fastest growing importers of Stranded Iron Wire were United States ($146M), India ($88.6M), Vietnam ($58.6M), Spain ($53.5M), and Canada ($49.6M).

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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 Stranded Iron Wire.

In 2018,  market concentration measured using Shannon Entropy, was 4.5. This means that most of the exports of Stranded Iron Wire are explained by 22 countries.

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TOP NET EXPORTER (2018): China, $1.63B

TOP NET IMPORTER (2018): United States, $672M

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

In 2018, the countries that had a largest trade value in exports than in imports of Stranded Iron Wire were China ($1.63B), South Korea ($345M), Vietnam ($198M), Belarus ($123M), and Romania ($119M).

In 2018, the countries that had a largest trade value in imports than in exports of Stranded Iron Wire were United States ($672M), Poland ($147M), Spain ($104M), Australia ($99.8M), and India ($99M).

Trade Forecasts

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This section shows forecasts for total trade for Stranded Iron Wire. 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 Stranded Iron Wire was 8.59%.  The countries with the highest tariffs for importing Stranded Iron Wire were Bahamas (40.2%), Iran (28%), Bangladesh (25%), Bermuda (25%), and Sudan (21.9%).

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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.