HS Icon Other Iron Products

7326 (Harmonized System 1992 for 4-digit)

World Trade (2018): $53.7B, Rnk 65 / 1225

Top Exporter (2018): $10.6B, China

Top Importer (2018): $6.65B, United States

Product Complexity (2018): 0.95, Rnk 188 / 1018

Export Growth (CAGR)(2017 - 2018): 21%, Rnk 312 / 1225

Mean Tariff (2018): 7.78%, Rnk 563 / 1259

Share of World Trade (2018): 0.29%, Rnk 65 / 1225

Overview: In 2018, Other Iron Products were the world's 65th most traded product, with a total trade of $53.7B. Between 2017 and 2018 the exports of Other Iron Products grew by 21%, from  $44.4B to $53.7B. Trade in Other Iron Products represent 0.29% of total world trade.

Exports: In 2018 the top exporters of Other Iron Products  were China ($10.6B), Germany ($5.85B), Italy ($3.79B), United States ($3.77B), and France ($2.03B).

Imports: In 2018 the top importers of Other Iron Products were United States ($6.65B), Germany ($6.19B), Mexico ($2.63B), France ($2.58B), and Japan ($2.31B).

Tariffs: In 2018 the average tariff for Other Iron Products was 7.78%, been the 563 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Other Iron Products are Bahamas (41.1%), Zimbabwe (23.5%), Algeria (23%), Ecuador (22.2%), and Sudan (21.9%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), Singapore (0%), and Switzerland (0%).

Ranking: Other Iron Products ranks 188th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $10.6B

Top Destination (2018): United States, $6.65B

Other Iron Products are the world's 65th most traded product.

In 2018, the top exporters of Other Iron Products were China ($10.6B), Germany ($5.85B), Italy ($3.79B), United States ($3.77B), and France ($2.03B).

In 2018, the top importers of Other Iron Products were United States ($6.65B), Germany ($6.19B), Mexico ($2.63B), France ($2.58B), and Japan ($2.31B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Thailand, $970M

Top Destination Growth (2017 - 2018): Germany, $1.81B

Between 2017 and 2018, the exports of Other Iron Products grew the fastest in Thailand ($970M), Italy ($948M), Denmark ($715M), China ($648M), and Poland ($639M).

Between 2017 and 2018, the fastest growing importers of Other Iron Products were Germany ($1.81B), United States ($1.52B), Thailand ($881M), United Kingdom ($782M), and Japan ($637M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Other Iron Products.

In 2018,  market concentration measured using Shannon Entropy, was 4.67. This means that most of the exports of Other Iron Products are explained by 25 countries.

TOP NET EXPORTER (2018): China, $8.46B

TOP NET IMPORTER (2018): United States, $2.88B

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

In 2018, the countries that had a largest trade value in exports than imports of Other Iron Products were China ($8.46B), Italy ($2.68B), Chinese Taipei ($957M), Czechia ($831M), and Denmark ($616M).

In 2018, the countries that had a largest trade value in imports than exports of Other Iron Products were United States ($2.88B), Mexico ($1.44B), United Kingdom ($963M), Japan ($724M), and Australia ($566M).

Trade Forecasts

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This section shows forecasts for total trade for Other Iron Products. 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 Other Iron Products was 7.78%.  The countries with the highest tariffs for importing Other Iron Products were Bahamas (41.1%), Zimbabwe (23.5%), Algeria (23%), Ecuador (22.2%), 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.