HS Icon Ferrous waste or scrap, nes

720449 (Harmonized System 1992 for 6-digit)

Overview This page contains the latest trade data of Ferrous waste or scrap, nes. In 2019, Ferrous waste or scrap, nes were the world's 124th most traded product, with a total trade of $21.1B. Between 2018 and 2019 the exports of Ferrous waste or scrap, nes decreased by -17.3%, from $25.6B to $21.1B. Trade in Ferrous waste or scrap, nes represent 0.12% of total world trade.

Exports In 2019 the top exporters of Ferrous waste or scrap, nes  were United States ($3.98B), Japan ($1.9B), United Kingdom ($1.87B), Germany ($1.37B), and Netherlands ($1.29B).

Imports In 2019 the top importers of Ferrous waste or scrap, nes were Turkey ($4.96B), South Korea ($1.57B), India ($1.4B), Vietnam ($1.35B), and Pakistan ($864M).

Tariffs In 2018 the average tariff for Ferrous waste or scrap, nes was 2.59%, making it the 5932nd lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Ferrous waste or scrap, nes are Bahamas (40.2%), Bermuda (25%), Sudan (21.9%), Angola (20%), and Algeria (12.2%). The countries with the lowest tariffs are Egypt (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking Ferrous waste or scrap, nes ranks 3586th in the Product Complexity Index (PCI).

Description Ferrous waste or scrap is used in the manufacture of new steel.

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): United States, $3.98B

Top Destination (2019): Turkey, $4.96B

Ferrous waste or scrap, nes are the world's 124th most traded product.

In 2019, the top exporters of Ferrous waste or scrap, nes were United States ($3.98B), Japan ($1.9B), United Kingdom ($1.87B), Germany ($1.37B), and Netherlands ($1.29B).

In 2019, the top importers of Ferrous waste or scrap, nes were Turkey ($4.96B), South Korea ($1.57B), India ($1.4B), Vietnam ($1.35B), and Pakistan ($864M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Iran, $64.2M

Top Destination Growth (2018 - 2019): Bangladesh, $215M

Between 2018 and 2019, the exports of Ferrous waste or scrap, nes grew the fastest in Iran ($64.2M), Poland ($50.2M), Libya ($41.2M), Kazakhstan ($35.8M), and Tunisia ($17.5M).

Between 2018 and 2019, the fastest growing importers of Ferrous waste or scrap, nes were Bangladesh ($215M), Saudi Arabia ($83.3M), Malaysia ($65M), Netherlands ($37.4M), and Uzbekistan ($26M).

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Market Concentration

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Cumulative market share

Value

This chart shows the evolution of the market concentration of exports of Ferrous waste or scrap, nes.

In 2019,  market concentration measured using Shannon Entropy, was 4.76. This means that most of the exports of Ferrous waste or scrap, nes are explained by 27 countries.

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TOP NET EXPORTER (2019): United States, $3.57B

TOP NET IMPORTER (2019): Turkey, $4.95B

This map shows which countries export or import more of Ferrous waste or scrap, nes. Each country is colored based on the difference in exports and imports of Ferrous waste or scrap, nes during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Ferrous waste or scrap, nes were United States ($3.57B), Japan ($1.85B), United Kingdom ($1.81B), Russia ($879M), and France ($816M).

In 2019, the countries that had a largest trade value in imports than in exports of Ferrous waste or scrap, nes were Turkey ($4.95B), South Korea ($1.54B), India ($1.4B), Vietnam ($1.35B), and Pakistan ($863M).

Import Tariffs

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In 2018, the average tariff for importing Ferrous waste or scrap, nes was 2.59%. The countries with the highest tariffs for importing Ferrous waste or scrap, nes were Bahamas (40.2%), Bermuda (25%), Sudan (21.9%), Angola (20%), and Algeria (12.2%).

Product Complexity

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Diversification Frontier

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Specialization

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.