HS Icon Articles of iron or steel wire, nes

732620 (Harmonized System 1992 for 6-digit)

World Trade (2019): $3.35B, Rnk 896 / 4648

Top Exporter (2019): $1.23B, China

Top Importer (2019): $539M, United States

Product Complexity (2019): -0.09, Rnk 2768 / 4826

Export Growth (CAGR)(2018 - 2019): 1.88%, Rnk 1163 / 4648

Mean Tariff (2018): 8.05%, Rnk 2827 / 6538

Share of World Trade (2019): 0.018%, Rnk 896 / 4648

Overview:  This page contains the latest trade data of Articles of iron or steel wire, nes. In 2019, Articles of iron or steel wire, nes were the world's 896th most traded product, with a total trade of $3.35B. Between 2018 and 2019 the exports of Articles of iron or steel wire, nes grew by 1.88%, from  $3.29B to $3.35B. Trade in Articles of iron or steel wire, nes represent 0.018% of total world trade.

Exports: In 2019 the top exporters of Articles of iron or steel wire, nes  were China ($1.23B), Germany ($241M), Czechia ($155M), Netherlands ($144M), and Poland ($144M).

Imports: In 2019 the top importers of Articles of iron or steel wire, nes were United States ($539M), Germany ($319M), France ($211M), Japan ($151M), and United Kingdom ($126M).

Tariffs: In 2018 the average tariff for Articles of iron or steel wire, nes was 8.05%, making it the 2827th lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Articles of iron or steel wire, nes are Bahamas (41.4%), Fiji (31.1%), Zimbabwe (24.3%), Tanzania (23.6%), and Rwanda (23.5%). 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 wire, nes ranks 2768th in the Product Complexity Index (PCI).

Description: The most common use of iron or steel wire is in the construction of fences. They are also used in the construction of wire hinges, wire nails, and wire mesh.

Exporters and Importers

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Trade By Country

Top Origin (2019): China, $1.23B

Top Destination (2019): United States, $539M

Articles of iron or steel wire, nes are the world's 896th most traded product.

In 2019, the top exporters of Articles of iron or steel wire, nes were China ($1.23B), Germany ($241M), Czechia ($155M), Netherlands ($144M), and Poland ($144M).

In 2019, the top importers of Articles of iron or steel wire, nes were United States ($539M), Germany ($319M), France ($211M), Japan ($151M), and United Kingdom ($126M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): China, $106M

Top Destination Growth (2018 - 2019): Belgium, $15.5M

Between 2018 and 2019, the exports of Articles of iron or steel wire, nes grew the fastest in China ($106M), India ($21.8M), Malaysia ($17.8M), Czechia ($11.5M), and Indonesia ($9.78M).

Between 2018 and 2019, the fastest growing importers of Articles of iron or steel wire, nes were Belgium ($15.5M), Singapore ($12.5M), Malaysia ($12.2M), Italy ($10.5M), and France ($8.99M).

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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 wire, nes.

In 2019,  market concentration measured using Shannon Entropy, was 4.13. This means that most of the exports of Articles of iron or steel wire, nes are explained by 17 countries.

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TOP NET EXPORTER (2019): China, $1.2B

TOP NET IMPORTER (2019): United States, $413M

This map shows which countries export or import more of Articles of iron or steel wire, nes. Each country is colored based on the difference in exports and imports of Articles of iron or steel wire, nes during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Articles of iron or steel wire, nes were China ($1.2B), Czechia ($120M), Croatia ($56.2M), Poland ($55.1M), and Netherlands ($53.4M).

In 2019, the countries that had a largest trade value in imports than in exports of Articles of iron or steel wire, nes were United States ($413M), France ($129M), Japan ($125M), Vietnam ($95.1M), and United Kingdom ($78.9M).

Import Tariffs

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In 2018, the average tariff for importing Articles of iron or steel wire, nes was 8.05%.  The countries with the highest tariffs for importing Articles of iron or steel wire, nes were Bahamas (41.4%), Fiji (31.1%), Zimbabwe (24.3%), Tanzania (23.6%), and Rwanda (23.5%).

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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.