HS Icon Articles of iron or steel, nes

732690 (Harmonized System 1992 for 6-digit)

World Trade (2019): $45.3B, Rnk 47 / 4648

Top Exporter (2019): $8.5B, China

Top Importer (2019): $5.48B, United States

Product Complexity (2019): 0.68, Rnk 1332 / 4826

Export Growth (CAGR)(2018 - 2019): -1.74%, Rnk 1932 / 4648

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

Share of World Trade (2019): 0.25%, Rnk 47 / 4648

Overview:  This page contains the latest trade data of Articles of iron or steel, nes. In 2019, Articles of iron or steel, nes were the world's 47th most traded product, with a total trade of $45.3B. Between 2018 and 2019 the exports of Articles of iron or steel, nes decreased by -1.74%, from  $46.1B to $45.3B. Trade in Articles of iron or steel, nes represent 0.25% of total world trade.

Exports: In 2019 the top exporters of Articles of iron or steel, nes  were China ($8.5B), Germany ($4.93B), United States ($4.08B), Italy ($2.87B), and France ($1.77B).

Imports: In 2019 the top importers of Articles of iron or steel, nes were United States ($5.48B), Germany ($4.98B), Mexico ($2.29B), France ($2.12B), and Japan ($2.03B).

Tariffs: In 2018 the average tariff for Articles of iron or steel, nes was 7.84%, making it the 2898th 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 1332nd in the Product Complexity Index (PCI).

Description: Iron and steel are often used in the construction of structures such as bridges and buildings. Iron and steel are also used in the manufacturing of machinery and in the production of chemicals, as well as in a number of other applications.

Exporters and Importers

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Trade By Country

Top Origin (2019): China, $8.5B

Top Destination (2019): United States, $5.48B

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

In 2019, the top exporters of Articles of iron or steel, nes were China ($8.5B), Germany ($4.93B), United States ($4.08B), Italy ($2.87B), and France ($1.77B).

In 2019, the top importers of Articles of iron or steel, nes were United States ($5.48B), Germany ($4.98B), Mexico ($2.29B), France ($2.12B), and Japan ($2.03B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): United States, $149M

Top Destination Growth (2018 - 2019): Vietnam, $96M

Between 2018 and 2019, the exports of Articles of iron or steel, nes grew the fastest in United States ($149M), Mexico ($90M), China ($87.1M), Vietnam ($83.1M), and France ($67.2M).

Between 2018 and 2019, the fastest growing importers of Articles of iron or steel, nes were Vietnam ($96M), India ($66.4M), Singapore ($65.8M), Russia ($61.6M), and Mexico ($55.9M).

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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 2019,  market concentration measured using Shannon Entropy, was 4.65. 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 (2019): China, $6.52B

TOP NET IMPORTER (2019): United States, $1.4B

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 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Articles of iron or steel, nes were China ($6.52B), Italy ($1.96B), Chinese Taipei ($793M), Czechia ($544M), and Poland ($507M).

In 2019, the countries that had a largest trade value in imports than in exports of Articles of iron or steel, nes were United States ($1.4B), Mexico ($1.28B), Japan ($545M), Australia ($459M), and United Kingdom ($452M).

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.