Iron Springs7320 (Harmonized System 1992 for 4-digit)
World Trade (2018): $7.49B, Rnk 405 / 1225
Top Exporter (2018): $1.67B, Germany
Top Importer (2018): $1.25B, United States
Product Complexity (2018): 1.1, Rnk 141 / 1018
Export Growth (CAGR)(2017 - 2018): 15.2%, Rnk 508 / 1225
Mean Tariff (2018): 8.53%, Rnk 506 / 1259
Share of World Trade (2018): 0.041%, Rnk 405 / 1225
Overview: This page contains the latest trade data of Iron Springs. In 2018, Iron Springs were the world's 405th most traded product, with a total trade of $7.49B. Between 2017 and 2018 the exports of Iron Springs grew by 15.2%, from $6.5B to $7.49B. Trade in Iron Springs represent 0.041% of total world trade.
Exports: In 2018 the top exporters of Iron Springs were Germany ($1.67B), United States ($769M), Mexico ($720M), China ($553M), and Japan ($460M).
Imports: In 2018 the top importers of Iron Springs were United States ($1.25B), Germany ($671M), Mexico ($511M), China ($486M), and Poland ($319M).
Tariffs: In 2018 the average tariff for Iron Springs was 8.53%, been the 506 lowest tariff using the HS4 product classification.
The countries with the highest import tariffs for Iron Springs are Bahamas (41.4%), Cambodia (35%), Pakistan (29.1%), Iran (26.6%), and Bangladesh (24.5%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Singapore (0%), Switzerland (0%), and Norway (0%).
Ranking: Iron Springs ranks 141st in the Product Complexity Index (PCI).
Trade By Country
Top Origin (2018): Germany, $1.67B
Top Destination (2018): United States, $1.25B
Iron Springs are the world's 405th most traded product.
In 2018, the top exporters of Iron Springs were Germany ($1.67B), United States ($769M), Mexico ($720M), China ($553M), and Japan ($460M).
In 2018, the top importers of Iron Springs were United States ($1.25B), Germany ($671M), Mexico ($511M), China ($486M), and Poland ($319M).
Trade by country
Between 2017 and 2018, the exports of Iron Springs grew the fastest in Germany ($265M), United States ($136M), Mexico ($65.1M), China ($61.9M), and Belgium-Luxembourg ($55.7M).
Between 2017 and 2018, the fastest growing importers of Iron Springs were Canada ($212M), United States ($155M), Poland ($84.1M), Germany ($69.4M), and France ($41.4M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Iron Springs.
In 2018, market concentration measured using Shannon Entropy, was 4.37. This means that most of the exports of Iron Springs are explained by 20 countries.
TOP NET EXPORTER (2018): Germany, $995M
TOP NET IMPORTER (2018): United States, $485M
This map shows which countries export or import more of Iron Springs. Each country is colored based on the difference in exports and imports of Iron Springs during 2018.
In 2018, the countries that had a largest trade value in exports than in imports of Iron Springs were Germany ($995M), Japan ($348M), Mexico ($209M), Switzerland ($73.3M), and Spain ($68.7M).
In 2018, the countries that had a largest trade value in imports than in exports of Iron Springs were United States ($485M), Poland ($146M), United Kingdom ($99.3M), Russia ($95.4M), and Hungary ($86.2M).
This section shows forecasts for total trade for Iron Springs. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
In 2018, the average tariff for importing Iron Springs was 8.53%. The countries with the highest tariffs for importing Iron Springs were Bahamas (41.4%), Cambodia (35%), Pakistan (29.1%), Iran (26.6%), and Bangladesh (24.5%).
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.
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