Overview: This page contains the latest trade data of Iron and steel. In 2019, Iron and steel were the world's 10th most traded product, with a total trade of $380B. Between 2018 and 2019 the exports of Iron and steel decreased by -13.7%, from $440B to $380B. Trade in Iron and steel represent 2.1% of total world trade.
Exports: In 2019 the top exporters of Iron and steel were China ($39.8B), Japan ($26.7B), Germany ($25.4B), South Korea ($23.5B), and Russia ($19.8B).
Imports: In 2019 the top importers of Iron and steel were Germany ($26.3B), United States ($23.9B), China ($21.9B), Italy ($18.4B), and South Korea ($14.7B).
Tariffs: In 2018 the average tariff for Iron and steel was 5.11%, making it the 79th lowest tariff using the HS2 product classification.
The countries with the highest import tariffs for Iron and steel are Bahamas (40.1%), Bermuda (25%), Sudan (24.1%), Cameroon (14.8%), and Gabon (14.7%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Taiwan (0%), Switzerland (0%), and Norway (0%).
Ranking: Iron and steel ranks 39th in the Product Complexity Index (PCI).