HS Icon Iron ore, concentrate, not iron pyrites,unagglomerate

260111 (Harmonized System 1992 for 6-digit)

World Trade (2018): $77.6B, Rnk 23 / 4726

Top Exporter (2018): $47.8B, Australia

Top Importer (2018): $55.8B, China

Product Complexity (2018): -1.68, Rnk 4597 / 4873

Export Growth (CAGR)(2017 - 2018): -1.37%, Rnk 3937 / 4726

Mean Tariff (2018): 1.9%, Rnk 6227 / 6538

Share of World Trade (2018): 0.42%, Rnk 23 / 4726

Overview:  This page contains the latest trade data of Iron ore, concentrate, not iron pyrites,unagglomerate. In 2018, Iron ore, concentrate, not iron pyrites,unagglomerate were the world's 23rd most traded product, with a total trade of $77.6B. Between 2017 and 2018 the exports of Iron ore, concentrate, not iron pyrites,unagglomerate decreased by -1.37%, from  $78.7B to $77.6B. Trade in Iron ore, concentrate, not iron pyrites,unagglomerate represent 0.42% of total world trade.

Exports: In 2018 the top exporters of Iron ore, concentrate, not iron pyrites,unagglomerate  were Australia ($47.8B), Brazil ($16.9B), Canada ($2.62B), South Africa ($1.97B), and Ukraine ($1.26B).

Imports: In 2018 the top importers of Iron ore, concentrate, not iron pyrites,unagglomerate were China ($55.8B), Japan ($5.77B), South Korea ($3.9B), Chinese Taipei ($1.33B), and Netherlands ($1.25B).

Tariffs: In 2018 the average tariff for Iron ore, concentrate, not iron pyrites,unagglomerate was 1.9%, been the 6227 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Iron ore, concentrate, not iron pyrites,unagglomerate are Bahamas (40.2%), Bermuda (25%), Aruba (12%), Panama (10%), and Nepal (9.89%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Iron ore, concentrate, not iron pyrites,unagglomerate ranks 4597th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Australia, $47.8B

Top Destination (2018): China, $55.8B

Iron ore, concentrate, not iron pyrites,unagglomerate are the world's 23rd most traded product.

In 2018, the top exporters of Iron ore, concentrate, not iron pyrites,unagglomerate were Australia ($47.8B), Brazil ($16.9B), Canada ($2.62B), South Africa ($1.97B), and Ukraine ($1.26B).

In 2018, the top importers of Iron ore, concentrate, not iron pyrites,unagglomerate were China ($55.8B), Japan ($5.77B), South Korea ($3.9B), Chinese Taipei ($1.33B), and Netherlands ($1.25B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Canada, $647M

Top Destination Growth (2017 - 2018): India, $329M

Between 2017 and 2018, the exports of Iron ore, concentrate, not iron pyrites,unagglomerate grew the fastest in Canada ($647M), China ($455M), Malaysia ($287M), Liberia ($82.9M), and Spain ($43.4M).

Between 2017 and 2018, the fastest growing importers of Iron ore, concentrate, not iron pyrites,unagglomerate were India ($329M), Netherlands ($264M), Bahrain ($264M), Turkey ($251M), and Vietnam ($218M).

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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 ore, concentrate, not iron pyrites,unagglomerate.

In 2018,  market concentration measured using Shannon Entropy, was 1.99. This means that most of the exports of Iron ore, concentrate, not iron pyrites,unagglomerate are explained by 3 countries.

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TOP NET EXPORTER (2018): Australia, $47.8B

TOP NET IMPORTER (2018): China, $55.3B

This map shows which countries export or import more of Iron ore, concentrate, not iron pyrites,unagglomerate. Each country is colored based on the difference in exports and imports of Iron ore, concentrate, not iron pyrites,unagglomerate during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Iron ore, concentrate, not iron pyrites,unagglomerate were Australia ($47.8B), Brazil ($16.9B), Canada ($2.58B), South Africa ($1.97B), and Ukraine ($1.16B).

In 2018, the countries that had a largest trade value in imports than in exports of Iron ore, concentrate, not iron pyrites,unagglomerate were China ($55.3B), Japan ($5.77B), South Korea ($3.9B), Chinese Taipei ($1.33B), and Netherlands ($1.23B).

Trade Forecasts

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This section shows forecasts for total trade for Iron ore, concentrate, not iron pyrites,unagglomerate. 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 ore, concentrate, not iron pyrites,unagglomerate was 1.9%.  The countries with the highest tariffs for importing Iron ore, concentrate, not iron pyrites,unagglomerate were Bahamas (40.2%), Bermuda (25%), Aruba (12%), Panama (10%), and Nepal (9.89%).

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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.