HS Icon Articles of iron or steel, nes

732690 (Harmonized System 1992 for 6-digit)

World Trade (2018): $45.1B, Rnk 47 / 4726

Top Exporter (2018): $8.33B, China

Top Importer (2018): $5.51B, United States

Product Complexity (2018): 0.67, Rnk 1355 / 4873

Export Growth (CAGR)(2017 - 2018): 20.5%, Rnk 1342 / 4726

Mean Tariff (2018): 7.84%, Rnk 2898 / 6538

Share of World Trade (2018): 0.25%, Rnk 47 / 4726

Overview:  This page contains the latest trade data of Articles of iron or steel, nes. In 2018, Articles of iron or steel, nes were the world's 47th most traded product, with a total trade of $45.1B. Between 2017 and 2018 the exports of Articles of iron or steel, nes grew by 20.5%, from  $37.4B to $45.1B. Trade in Articles of iron or steel, nes represent 0.25% of total world trade.

Exports: In 2018 the top exporters of Articles of iron or steel, nes  were China ($8.33B), Germany ($5.21B), United States ($3.2B), Italy ($2.87B), and France ($1.71B).

Imports: In 2018 the top importers of Articles of iron or steel, nes were United States ($5.51B), Germany ($5.22B), Mexico ($2.24B), France ($2.14B), and Japan ($2.07B).

Tariffs: In 2018 the average tariff for Articles of iron or steel, nes was 7.84%, been the 2898 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Articles of iron or steel, nes are Bahamas (41.3%), Algeria (29.1%), Bermuda (25%), Zimbabwe (24%), and Malawi (22.7%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), Singapore (0%), and Switzerland (0%).

Ranking: Articles of iron or steel, nes ranks 1355th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $8.33B

Top Destination (2018): United States, $5.51B

Articles of iron or steel, nes are the world's 47th most traded product.

In 2018, the top exporters of Articles of iron or steel, nes were China ($8.33B), Germany ($5.21B), United States ($3.2B), Italy ($2.87B), and France ($1.71B).

In 2018, the top importers of Articles of iron or steel, nes were United States ($5.51B), Germany ($5.22B), Mexico ($2.24B), France ($2.14B), and Japan ($2.07B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Thailand, $947M

Top Destination Growth (2017 - 2018): Germany, $1.42B

Between 2017 and 2018, the exports of Articles of iron or steel, nes grew the fastest in Thailand ($947M), Denmark ($699M), Italy ($645M), Poland ($570M), and Chinese Taipei ($459M).

Between 2017 and 2018, the fastest growing importers of Articles of iron or steel, nes were Germany ($1.42B), United States ($1.27B), Thailand ($882M), United Kingdom ($739M), and Japan ($581M).

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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 Articles of iron or steel, nes.

In 2018,  market concentration measured using Shannon Entropy, was 4.67. This means that most of the exports of Articles of iron or steel, nes are explained by 25 countries.

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TOP NET EXPORTER (2018): China, $6.42B

TOP NET IMPORTER (2018): United States, $2.31B

This map shows which countries export or import more of Articles of iron or steel, nes. Each country is colored based on the difference in exports and imports of Articles of iron or steel, nes during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Articles of iron or steel, nes were China ($6.42B), Italy ($1.93B), Chinese Taipei ($913M), Denmark ($628M), and Czechia ($604M).

In 2018, the countries that had a largest trade value in imports than in exports of Articles of iron or steel, nes were United States ($2.31B), Mexico ($1.31B), United Kingdom ($886M), Japan ($602M), and Australia ($480M).

Trade Forecasts

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This section shows forecasts for total trade for Articles of iron or steel, nes. 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 Articles of iron or steel, nes was 7.84%.  The countries with the highest tariffs for importing Articles of iron or steel, nes were Bahamas (41.3%), Algeria (29.1%), Bermuda (25%), Zimbabwe (24%), and Malawi (22.7%).

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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.