HS Icon Articles of iron or steel wire, nes

732620 (Harmonized System 1992 for 6-digit)

World Trade (2018): $3.24B, Rnk 933 / 4726

Top Exporter (2018): $1.14B, China

Top Importer (2018): $545M, United States

Product Complexity (2018): -0.41, Rnk 3288 / 4873

Export Growth (CAGR)(2017 - 2018): 24.8%, Rnk 1066 / 4726

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

Share of World Trade (2018): 0.018%, Rnk 933 / 4726

Overview:  This page contains the latest trade data of Articles of iron or steel wire, nes. In 2018, Articles of iron or steel wire, nes were the world's 933rd most traded product, with a total trade of $3.24B. Between 2017 and 2018 the exports of Articles of iron or steel wire, nes grew by 24.8%, from  $2.6B to $3.24B. Trade in Articles of iron or steel wire, nes represent 0.018% of total world trade.

Exports: In 2018 the top exporters of Articles of iron or steel wire, nes  were China ($1.14B), Germany ($250M), Netherlands ($157M), Poland ($153M), and Belgium-Luxembourg ($147M).

Imports: In 2018 the top importers of Articles of iron or steel wire, nes were United States ($545M), Germany ($321M), France ($204M), Japan ($146M), and Vietnam ($137M).

Tariffs: In 2018 the average tariff for Articles of iron or steel wire, nes was 8.05%, been the 2827 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 3288th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $1.14B

Top Destination (2018): United States, $545M

Articles of iron or steel wire, nes are the world's 933rd most traded product.

In 2018, the top exporters of Articles of iron or steel wire, nes were China ($1.14B), Germany ($250M), Netherlands ($157M), Poland ($153M), and Belgium-Luxembourg ($147M).

In 2018, the top importers of Articles of iron or steel wire, nes were United States ($545M), Germany ($321M), France ($204M), Japan ($146M), and Vietnam ($137M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $130M

Top Destination Growth (2017 - 2018): United States, $114M

Between 2017 and 2018, the exports of Articles of iron or steel wire, nes grew the fastest in China ($130M), Netherlands ($80.5M), Poland ($71.1M), Belgium-Luxembourg ($50.5M), and Croatia ($39.3M).

Between 2017 and 2018, the fastest growing importers of Articles of iron or steel wire, nes were United States ($114M), Germany ($105M), France ($54.6M), Poland ($39.5M), and Vietnam ($33.5M).

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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 2018,  market concentration measured using Shannon Entropy, was 4.17. 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 (2018): China, $1.11B

TOP NET IMPORTER (2018): United States, $479M

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 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Articles of iron or steel wire, nes were China ($1.11B), Czechia ($108M), Italy ($70.9M), Netherlands ($68.9M), and Croatia ($56.7M).

In 2018, the countries that had a largest trade value in imports than in exports of Articles of iron or steel wire, nes were United States ($479M), Japan ($122M), France ($120M), Vietnam ($119M), and Germany ($70.5M).

Trade Forecasts

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This section shows forecasts for total trade for Articles of iron or steel wire, 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 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.