HS Icon Iron Fasteners

7318 (Harmonized System 1992 for 4-digit)

World Trade (2018): $42.2B, Rnk 89 / 1225

Top Exporter (2018): $6.87B, China

Top Importer (2018): $5.78B, United States

Product Complexity (2018): 1.62, Rnk 33 / 1018

Export Growth (CAGR)(2017 - 2018): 13.6%, Rnk 588 / 1225

Mean Tariff (2018): 8.7%, Rnk 495 / 1259

Share of World Trade (2018): 0.23%, Rnk 89 / 1225

Overview: In 2018, Iron Fasteners were the world's 89th most traded product, with a total trade of $42.2B. Between 2017 and 2018 the exports of Iron Fasteners grew by 13.6%, from  $37.1B to $42.2B. Trade in Iron Fasteners represent 0.23% of total world trade.

Exports: In 2018 the top exporters of Iron Fasteners  were China ($6.87B), Germany ($6.85B), Chinese Taipei ($4.82B), United States ($4.37B), and Japan ($3.09B).

Imports: In 2018 the top importers of Iron Fasteners were United States ($5.78B), Germany ($4.25B), China ($2.45B), Mexico ($2.44B), and France ($1.85B).

Tariffs: In 2018 the average tariff for Iron Fasteners was 8.7%, been the 495 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Iron Fasteners are Bahamas (40.2%), Sudan (35%), Iran (34.4%), Bermuda (25%), and Pakistan (20.3%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Singapore (0%), Switzerland (0%), and Norway (0%).

Ranking: Iron Fasteners ranks 33rd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $6.87B

Top Destination (2018): United States, $5.78B

Iron Fasteners are the world's 89th most traded product.

In 2018, the top exporters of Iron Fasteners were China ($6.87B), Germany ($6.85B), Chinese Taipei ($4.82B), United States ($4.37B), and Japan ($3.09B).

In 2018, the top importers of Iron Fasteners were United States ($5.78B), Germany ($4.25B), China ($2.45B), Mexico ($2.44B), and France ($1.85B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $1.17B

Top Destination Growth (2017 - 2018): Canada, $1.4B

Between 2017 and 2018, the exports of Iron Fasteners grew the fastest in China ($1.17B), Germany ($1.01B), United States ($699M), Thailand ($188M), and Chinese Taipei ($186M).

Between 2017 and 2018, the fastest growing importers of Iron Fasteners were Canada ($1.4B), United States ($583M), Germany ($328M), Poland ($252M), and Netherlands ($231M).

Market Concentration

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Cumulative market share

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

In 2018,  market concentration measured using Shannon Entropy, was 4.19. This means that most of the exports of Iron Fasteners are explained by 18 countries.

TOP NET EXPORTER (2018): Chinese Taipei, $4.69B

TOP NET IMPORTER (2018): Mexico, $2.25B

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

In 2018, the countries that had a largest trade value in exports than imports of Iron Fasteners were Chinese Taipei ($4.69B), China ($4.42B), Germany ($2.6B), Japan ($2.13B), and Italy ($1.13B).

In 2018, the countries that had a largest trade value in imports than exports of Iron Fasteners were Mexico ($2.25B), United States ($1.42B), Canada ($993M), Russia ($680M), and Poland ($572M).

Trade Forecasts

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This section shows forecasts for total trade for Iron Fasteners. 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 Fasteners was 8.7%.  The countries with the highest tariffs for importing Iron Fasteners were Bahamas (40.2%), Sudan (35%), Iran (34.4%), Bermuda (25%), and Pakistan (20.3%).

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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.