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

260112 (Harmonized System 1992 for 6-digit)

World Trade (2018): $17.5B, Rnk 158 / 4726

Top Exporter (2018): $3.55B, Brazil

Top Importer (2018): $3.4B, China

Product Complexity (2018): -0.71, Rnk 3644 / 4873

Export Growth (CAGR)(2017 - 2018): 22.8%, Rnk 1188 / 4726

Mean Tariff (2018): 1.86%, Rnk 6233 / 6538

Share of World Trade (2018): 0.095%, Rnk 158 / 4726

Overview:  This page contains the latest trade data of Iron ore, concentrate, not iron pyrites, agglomerated. In 2018, Iron ore, concentrate, not iron pyrites, agglomerated were the world's 158th most traded product, with a total trade of $17.5B. Between 2017 and 2018 the exports of Iron ore, concentrate, not iron pyrites, agglomerated grew by 22.8%, from  $14.3B to $17.5B. Trade in Iron ore, concentrate, not iron pyrites, agglomerated represent 0.095% of total world trade.

Exports: In 2018 the top exporters of Iron ore, concentrate, not iron pyrites, agglomerated  were Brazil ($3.55B), South Africa ($2.72B), Sweden ($1.95B), Ukraine ($1.63B), and Canada ($1.58B).

Imports: In 2018 the top importers of Iron ore, concentrate, not iron pyrites, agglomerated were China ($3.4B), Japan ($1.41B), Saudi Arabia ($1.06B), Germany ($1.02B), and Egypt ($811M).

Tariffs: In 2018 the average tariff for Iron ore, concentrate, not iron pyrites, agglomerated was 1.86%, been the 6233 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Iron ore, concentrate, not iron pyrites, agglomerated 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, agglomerated ranks 3644th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Brazil, $3.55B

Top Destination (2018): China, $3.4B

Iron ore, concentrate, not iron pyrites, agglomerated are the world's 158th most traded product.

In 2018, the top exporters of Iron ore, concentrate, not iron pyrites, agglomerated were Brazil ($3.55B), South Africa ($2.72B), Sweden ($1.95B), Ukraine ($1.63B), and Canada ($1.58B).

In 2018, the top importers of Iron ore, concentrate, not iron pyrites, agglomerated were China ($3.4B), Japan ($1.41B), Saudi Arabia ($1.06B), Germany ($1.02B), and Egypt ($811M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): South Africa, $1.46B

Top Destination Growth (2017 - 2018): China, $1.89B

Between 2017 and 2018, the exports of Iron ore, concentrate, not iron pyrites, agglomerated grew the fastest in South Africa ($1.46B), Bahrain ($794M), Brazil ($695M), Ukraine ($322M), and Russia ($240M).

Between 2017 and 2018, the fastest growing importers of Iron ore, concentrate, not iron pyrites, agglomerated were China ($1.89B), Ukraine ($224M), Egypt ($217M), Saudi Arabia ($187M), and Canada ($179M).

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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, agglomerated.

In 2018,  market concentration measured using Shannon Entropy, was 3.49. This means that most of the exports of Iron ore, concentrate, not iron pyrites, agglomerated are explained by 11 countries.

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TOP NET EXPORTER (2018): Brazil, $3.55B

TOP NET IMPORTER (2018): China, $3.39B

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

In 2018, the countries that had a largest trade value in exports than in imports of Iron ore, concentrate, not iron pyrites, agglomerated were Brazil ($3.55B), South Africa ($2.67B), Sweden ($1.93B), Ukraine ($1.29B), and Russia ($1.15B).

In 2018, the countries that had a largest trade value in imports than in exports of Iron ore, concentrate, not iron pyrites, agglomerated were China ($3.39B), Japan ($1.41B), Saudi Arabia ($1.05B), Germany ($1.02B), and Egypt ($800M).

Trade Forecasts

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This section shows forecasts for total trade for Iron ore, concentrate, not iron pyrites, agglomerated. 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, agglomerated was 1.86%.  The countries with the highest tariffs for importing Iron ore, concentrate, not iron pyrites, agglomerated 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.