HS Icon Iron Chains

7315 (Harmonized System 1992 for 4-digit)

World Trade (2018): $5.32B, Rnk 481 / 1225

Top Exporter (2018): $1.59B, China

Top Importer (2018): $624M, United States

Product Complexity (2018): 1.16, Rnk 117 / 1018

Export Growth (CAGR)(2017 - 2018): 12.7%, Rnk 637 / 1225

Mean Tariff (2018): 8.76%, Rnk 491 / 1259

Share of World Trade (2018): 0.029%, Rnk 481 / 1225

Overview: In 2018, Iron Chains were the world's 481st most traded product, with a total trade of $5.32B. Between 2017 and 2018 the exports of Iron Chains grew by 12.7%, from  $4.72B to $5.32B. Trade in Iron Chains represent 0.029% of total world trade.

Exports: In 2018 the top exporters of Iron Chains  were China ($1.59B), Germany ($958M), Japan ($492M), United States ($392M), and Italy ($220M).

Imports: In 2018 the top importers of Iron Chains were United States ($624M), Germany ($341M), Mexico ($271M), Japan ($231M), and China ($225M).

Tariffs: In 2018 the average tariff for Iron Chains was 8.76%, been the 491 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Iron Chains are Bahamas (41.8%), Iran (25.4%), Bermuda (25%), Pakistan (24.9%), and Cameroon (24.5%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), Singapore (0%), and Switzerland (0%).

Ranking: Iron Chains ranks 117th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $1.59B

Top Destination (2018): United States, $624M

Iron Chains are the world's 481st most traded product.

In 2018, the top exporters of Iron Chains were China ($1.59B), Germany ($958M), Japan ($492M), United States ($392M), and Italy ($220M).

In 2018, the top importers of Iron Chains were United States ($624M), Germany ($341M), Mexico ($271M), Japan ($231M), and China ($225M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $265M

Top Destination Growth (2017 - 2018): Indonesia, $72.7M

Between 2017 and 2018, the exports of Iron Chains grew the fastest in China ($265M), Germany ($150M), United States ($37.8M), Czechia ($36.5M), and Thailand ($35.3M).

Between 2017 and 2018, the fastest growing importers of Iron Chains were Indonesia ($72.7M), Canada ($59.4M), Germany ($56.8M), Netherlands ($42.8M), and Poland ($32.3M).

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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 Iron Chains.

In 2018,  market concentration measured using Shannon Entropy, was 3.81. This means that most of the exports of Iron Chains are explained by 14 countries.

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TOP NET EXPORTER (2018): China, $1.37B

TOP NET IMPORTER (2018): Mexico, $241M

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

In 2018, the countries that had a largest trade value in exports than in imports of Iron Chains were China ($1.37B), Germany ($617M), Japan ($261M), Chinese Taipei ($80.4M), and Italy ($75.3M).

In 2018, the countries that had a largest trade value in imports than in exports of Iron Chains were Mexico ($241M), United States ($232M), Canada ($154M), Indonesia ($147M), and Brazil ($109M).

Trade Forecasts

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This section shows forecasts for total trade for Iron Chains. 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 Chains was 8.76%.  The countries with the highest tariffs for importing Iron Chains were Bahamas (41.8%), Iran (25.4%), Bermuda (25%), Pakistan (24.9%), and Cameroon (24.5%).

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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.