HS Icon Iron Railway Products

7302 (Harmonized System 1992 for 4-digit)

Overview This page contains the latest trade data of Iron Railway Products. In 2019, Iron Railway Products were the world's 576th most traded product, with a total trade of $3.75B. Between 2018 and 2019 the exports of Iron Railway Products grew by 4.02%, from $3.61B to $3.75B. Trade in Iron Railway Products represent 0.021% of total world trade.

Exports In 2019 the top exporters of Iron Railway Products  were Austria ($520M), China ($488M), Japan ($446M), United States ($277M), and France ($222M).

Imports In 2019 the top importers of Iron Railway Products were Canada ($305M), Germany ($292M), United States ($223M), Italy ($196M), and Indonesia ($130M).

Tariffs In 2018 the average tariff for Iron Railway Products was 4.63%, making it the 886th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Iron Railway Products are Bahamas (40.2%), Bermuda (25%), Pakistan (18.5%), Ecuador (17.2%), and Panama (15%). The countries with the lowest tariffs are Angola (0%), Ethiopia (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking Iron Railway Products ranks 342nd in the Product Complexity Index (PCI).

Description Rail tracks are used to transport people and goods. They can be made from a variety of materials, including steel, wood, or concrete.

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): Austria, $520M

Top Destination (2019): Canada, $305M

Iron Railway Products are the world's 576th most traded product.

In 2019, the top exporters of Iron Railway Products were Austria ($520M), China ($488M), Japan ($446M), United States ($277M), and France ($222M).

In 2019, the top importers of Iron Railway Products were Canada ($305M), Germany ($292M), United States ($223M), Italy ($196M), and Indonesia ($130M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Japan, $88.6M

Top Destination Growth (2018 - 2019): Tanzania, $76.2M

Between 2018 and 2019, the exports of Iron Railway Products grew the fastest in Japan ($88.6M), Bahrain ($81.1M), China ($62.2M), Italy ($33.8M), and France ($12.3M).

Between 2018 and 2019, the fastest growing importers of Iron Railway Products were Tanzania ($76.2M), Saudi Arabia ($69.2M), Australia ($41M), Italy ($40.7M), and Myanmar ($37.4M).

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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 Iron Railway Products.

In 2019,  market concentration measured using Shannon Entropy, was 4.28. This means that most of the exports of Iron Railway Products are explained by 19 countries.

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TOP NET EXPORTER (2019): Austria, $476M

TOP NET IMPORTER (2019): Canada, $282M

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

In 2019, the countries that had a largest trade value in exports than in imports of Iron Railway Products were Austria ($476M), China ($448M), Japan ($437M), Spain ($173M), and Czechia ($132M).

In 2019, the countries that had a largest trade value in imports than in exports of Iron Railway Products were Canada ($282M), Italy ($132M), Indonesia ($129M), Saudi Arabia ($106M), and Tanzania ($96.9M).

Disaggregation

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Value

In 2019, the world most traded Iron Railway Products, disaggragated by their HS6 level were Railway/tramway rails, iron or steel ($2.4B), Railway/tramway switch/crossing material, iron/steel ($645M), Rail/tramway construction material of iron/steel, nes ($493M), and Railway fish plates and sole plates,... ($213M)

Import Tariffs

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In 2018, the average tariff for importing Iron Railway Products was 4.63%. The countries with the highest tariffs for importing Iron Railway Products were Bahamas (40.2%), Bermuda (25%), Pakistan (18.5%), Ecuador (17.2%), and Panama (15%).

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.

Country by Relatedness

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The following visualization shows the relatedness of Iron Railway Products to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.