HS Icon Hot-Rolled Iron

7208 (Harmonized System 1992 for 4-digit)

 2019
World Trade
: $49.1B, Rnk 72 / 1217

2019
Top Exporter | Top Importer
: $7.49B | $3.35B, Japan | Italy

2019
Product Complexity
: 0.35, Rnk 407 / 961

2018 - 2019
Export Growth (CAGR)
: -11.3%, Rnk 1002 / 1217

2018
Mean Tariff
: 5.03%, Rnk 817 / 1259

 2019
Share of World Trade
: 0.27%, Rnk 72 / 1217

Overview:  This page contains the latest trade data of Hot-Rolled Iron. In 2019, Hot-Rolled Iron were the world's 72nd most traded product, with a total trade of $49.1B. Between 2018 and 2019 the exports of Hot-Rolled Iron decreased by -11.3%, from  $55.3B to $49.1B. Trade in Hot-Rolled Iron represent 0.27% of total world trade.

Exports: In 2019 the top exporters of Hot-Rolled Iron  were Japan ($7.49B), South Korea ($5.42B), Germany ($2.65B), Chinese Taipei ($2.62B), and Belgium ($2.61B).

Imports: In 2019 the top importers of Hot-Rolled Iron were Italy ($3.35B), Vietnam ($3.24B), Germany ($2.86B), South Korea ($2.19B), and Turkey ($2.1B).

Tariffs: In 2018 the average tariff for Hot-Rolled Iron was 5.03%, making it the 817th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Hot-Rolled Iron are Bahamas (40.3%), Sudan (35%), Bermuda (25%), Romania (16%), and Pakistan (15.2%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Rwanda (0%), Zambia (0%), and Hong Kong (0%).

Ranking: Hot-Rolled Iron ranks 407th in the Product Complexity Index (PCI).

Description: Flat-rolled products of iron or non-alloy steel are used in the production of other goods. They can be made from a variety of materials, including iron and steel.

Exporters and Importers

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Trade By Country

Top Origin (2019): Japan, $7.49B

Top Destination (2019): Italy, $3.35B

Hot-Rolled Iron are the world's 72nd most traded product.

In 2019, the top exporters of Hot-Rolled Iron were Japan ($7.49B), South Korea ($5.42B), Germany ($2.65B), Chinese Taipei ($2.62B), and Belgium ($2.61B).

In 2019, the top importers of Hot-Rolled Iron were Italy ($3.35B), Vietnam ($3.24B), Germany ($2.86B), South Korea ($2.19B), and Turkey ($2.1B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): India, $585M

Top Destination Growth (2018 - 2019): Vietnam, $554M

Between 2018 and 2019, the exports of Hot-Rolled Iron grew the fastest in India ($585M), South Korea ($117M), Indonesia ($102M), Vietnam ($96.4M), and Singapore ($74.6M).

Between 2018 and 2019, the fastest growing importers of Hot-Rolled Iron were Vietnam ($554M), Indonesia ($231M), Russia ($137M), Chinese Taipei ($120M), and Bangladesh ($91.4M).

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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 Hot-Rolled Iron.

In 2019,  market concentration measured using Shannon Entropy, was 4.67. This means that most of the exports of Hot-Rolled Iron are explained by 25 countries.

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TOP NET EXPORTER (2019): Japan, $6.33B

TOP NET IMPORTER (2019): Vietnam, $2.82B

This map shows which countries export or import more of Hot-Rolled Iron. Each country is colored based on the difference in exports and imports of Hot-Rolled Iron during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Hot-Rolled Iron were Japan ($6.33B), South Korea ($3.23B), Chinese Taipei ($2.14B), Ukraine ($1.96B), and Russia ($1.65B).

In 2019, the countries that had a largest trade value in imports than in exports of Hot-Rolled Iron were Vietnam ($2.82B), Italy ($1.89B), Mexico ($1.52B), Thailand ($1.5B), and Malaysia ($1.14B).

Disaggregation

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Value

In 2019, the world most traded Hot-Rolled Iron, disaggragated by their HS6 level were Hot rolled iron or non-alloy steel,... ($17.5B), Hot rolled iron or non-alloy steel,... ($10.4B), Hot rolled iron or non-alloy steel,... ($8.63B), Hot rolled iron or non-alloy steel,... ($5.13B), and Hot rolled iron or non-alloy steel,... ($3.39B)

Import Tariffs

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In 2018, the average tariff for importing Hot-Rolled Iron was 5.03%.  The countries with the highest tariffs for importing Hot-Rolled Iron were Bahamas (40.3%), Sudan (35%), Bermuda (25%), Romania (16%), and Pakistan (15.2%).

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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.