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

260111 (Harmonized System 1992 for 6-digit)

 2019
World Trade
: $106B, Rnk 15 / 4648

2019
Top Exporter | Top Importer
: $67.2B | $77.2B, Australia | China

2019
Product Complexity
: -1.88, Rnk 4648 / 4826

2018 - 2019
Export Growth (CAGR)
: 36.1%, Rnk 82 / 4648

2018
Mean Tariff
: 1.9%, Rnk 6227 / 6538

 2019
Share of World Trade
: 0.58%, Rnk 15 / 4648

Overview:  This page contains the latest trade data of Iron ore, concentrate, not iron pyrites,unagglomerate. In 2019, Iron ore, concentrate, not iron pyrites,unagglomerate were the world's 15th most traded product, with a total trade of $106B. Between 2018 and 2019 the exports of Iron ore, concentrate, not iron pyrites,unagglomerate grew by 36.1%, from  $77.6B to $106B. Trade in Iron ore, concentrate, not iron pyrites,unagglomerate represent 0.58% of total world trade.

Exports: In 2019 the top exporters of Iron ore, concentrate, not iron pyrites,unagglomerate  were Australia ($67.2B), Brazil ($20.4B), Canada ($3.2B), South Africa ($3.06B), and Ukraine ($1.88B).

Imports: In 2019 the top importers of Iron ore, concentrate, not iron pyrites,unagglomerate were China ($77.2B), Japan ($7.6B), South Korea ($5.34B), Malaysia ($2.03B), and Chinese Taipei ($1.63B).

Tariffs: In 2018 the average tariff for Iron ore, concentrate, not iron pyrites,unagglomerate was 1.9%, making it the 6227th lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Iron ore, concentrate, not iron pyrites,unagglomerate 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,unagglomerate ranks 4648th in the Product Complexity Index (PCI).

Description: Iron ore is any rock containing iron minerals. These minerals are usually hematite or magnetite, or both. Iron ore is heated to form a liquid slag on the top and a solid lump of iron ore called a concentrate at the bottom. The slag is removed and the concentrate is typically smelted in a blast furnace to produce molten iron, which is then used to make steel.

Exporters and Importers

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Trade By Country

Top Origin (2019): Australia, $67.2B

Top Destination (2019): China, $77.2B

Iron ore, concentrate, not iron pyrites,unagglomerate are the world's 15th most traded product.

In 2019, the top exporters of Iron ore, concentrate, not iron pyrites,unagglomerate were Australia ($67.2B), Brazil ($20.4B), Canada ($3.2B), South Africa ($3.06B), and Ukraine ($1.88B).

In 2019, the top importers of Iron ore, concentrate, not iron pyrites,unagglomerate were China ($77.2B), Japan ($7.6B), South Korea ($5.34B), Malaysia ($2.03B), and Chinese Taipei ($1.63B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Australia, $19.4B

Top Destination Growth (2018 - 2019): China, $21.6B

Between 2018 and 2019, the exports of Iron ore, concentrate, not iron pyrites,unagglomerate grew the fastest in Australia ($19.4B), Brazil ($3.5B), South Africa ($1.09B), India ($644M), and Canada ($578M).

Between 2018 and 2019, the fastest growing importers of Iron ore, concentrate, not iron pyrites,unagglomerate were China ($21.6B), Japan ($1.76B), South Korea ($1.43B), Malaysia ($846M), and Germany ($663M).

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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 Iron ore, concentrate, not iron pyrites,unagglomerate.

In 2019,  market concentration measured using Shannon Entropy, was 1.98. This means that most of the exports of Iron ore, concentrate, not iron pyrites,unagglomerate are explained by 3 countries.

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TOP NET EXPORTER (2019): Australia, $67.2B

TOP NET IMPORTER (2019): China, $76.5B

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

In 2019, the countries that had a largest trade value in exports than in imports of Iron ore, concentrate, not iron pyrites,unagglomerate were Australia ($67.2B), Brazil ($20.4B), Canada ($3.17B), South Africa ($3.06B), and Ukraine ($1.73B).

In 2019, the countries that had a largest trade value in imports than in exports of Iron ore, concentrate, not iron pyrites,unagglomerate were China ($76.5B), Japan ($7.6B), South Korea ($5.34B), Chinese Taipei ($1.63B), and Netherlands ($1.49B).

Import Tariffs

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In 2018, the average tariff for importing Iron ore, concentrate, not iron pyrites,unagglomerate was 1.9%.  The countries with the highest tariffs for importing Iron ore, concentrate, not iron pyrites,unagglomerate were Bahamas (40.2%), Bermuda (25%), Aruba (12%), Panama (10%), and Nepal (9.89%).

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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.