HS Icon Iron ore, concentrate, not iron pyrites, agglomerated

260112 (Harmonized System 1992 for 6-digit)

Overview:  This page contains the latest trade data of Iron ore, concentrate, not iron pyrites, agglomerated. In 2019, Iron ore, concentrate, not iron pyrites, agglomerated were the world's 149th most traded product, with a total trade of $18.8B. Between 2018 and 2019 the exports of Iron ore, concentrate, not iron pyrites, agglomerated grew by 4.01%, from $18.1B to $18.8B. Trade in Iron ore, concentrate, not iron pyrites, agglomerated represent 0.1% of total world trade.

Exports: In 2019 the top exporters of Iron ore, concentrate, not iron pyrites, agglomerated  were South Africa ($3.65B), Brazil ($2.53B), Sweden ($1.97B), Canada ($1.87B), and Russia ($1.58B).

Imports: In 2019 the top importers of Iron ore, concentrate, not iron pyrites, agglomerated were China ($5.81B), Japan ($1.39B), Germany ($1.02B), Canada ($718M), and Netherlands ($713M).

Tariffs: In 2018 the average tariff for Iron ore, concentrate, not iron pyrites, agglomerated was 1.86%, making it the 6233rd lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Iron ore, concentrate, not iron pyrites, agglomerated are Bahamas (40.2%), Bermuda (25%), Aruba (12%), Panama (10%), and Nepal (9.89%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Iron ore, concentrate, not iron pyrites, agglomerated ranks 3838th in the Product Complexity Index (PCI).

Description: Iron ore and concentrate are two types of raw materials used to produce steel. Iron ore is a mixture of iron oxides and silicates. Concentrate is a higher quality type of ore that contains less than 63% iron. Concentrate is predominantly used in steel production, while iron ore is used to make steel, ferroalloys, and other products.

Historical Data

#permalink to section

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2019): South Africa, $3.65B

Top Destination (2019): China, $5.81B

Iron ore, concentrate, not iron pyrites, agglomerated are the world's 149th most traded product.

In 2019, the top exporters of Iron ore, concentrate, not iron pyrites, agglomerated were South Africa ($3.65B), Brazil ($2.53B), Sweden ($1.97B), Canada ($1.87B), and Russia ($1.58B).

In 2019, the top importers of Iron ore, concentrate, not iron pyrites, agglomerated were China ($5.81B), Japan ($1.39B), Germany ($1.02B), Canada ($718M), and Netherlands ($713M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2018 -  2019): South Africa, $929M

Top Destination Growth (2018 - 2019): China, $1.97B

Between 2018 and 2019, the exports of Iron ore, concentrate, not iron pyrites, agglomerated grew the fastest in South Africa ($929M), India ($448M), Canada ($296M), Russia ($294M), and Mauritania ($274M).

Between 2018 and 2019, the fastest growing importers of Iron ore, concentrate, not iron pyrites, agglomerated were China ($1.97B), Qatar ($179M), United Arab Emirates ($122M), United States ($116M), and Algeria ($92.2M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Iron ore, concentrate, not iron pyrites, agglomerated.

In 2019,  market concentration measured using Shannon Entropy, was 3.66. This means that most of the exports of Iron ore, concentrate, not iron pyrites, agglomerated are explained by 12 countries.

Explore Visualizations

TOP NET EXPORTER (2019): South Africa, $3.6B

TOP NET IMPORTER (2019): China, $5.59B

This map shows which countries export or import more of Iron ore, concentrate, not iron pyrites, agglomerated. Each country is colored based on the difference in exports and imports of Iron ore, concentrate, not iron pyrites, agglomerated during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Iron ore, concentrate, not iron pyrites, agglomerated were South Africa ($3.6B), Brazil ($2.51B), Sweden ($1.96B), Russia ($1.37B), and India ($1.33B).

In 2019, the countries that had a largest trade value in imports than in exports of Iron ore, concentrate, not iron pyrites, agglomerated were China ($5.59B), Japan ($1.39B), Germany ($947M), Netherlands ($712M), and Egypt ($685M).

Import Tariffs

#permalink to section

In 2018, the average tariff for importing Iron ore, concentrate, not iron pyrites, agglomerated was 1.86%. The countries with the highest tariffs for importing Iron ore, concentrate, not iron pyrites, agglomerated were Bahamas (40.2%), Bermuda (25%), Aruba (12%), Panama (10%), and Nepal (9.89%).

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
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.