HS Icon Iron Structures

7308 (Harmonized System 1992 for 4-digit)

 2019
World Trade
: $51B, Rnk 69 / 1217

2019
Top Exporter | Top Importer
: $13.3B | $5.28B, China | United States

2019
Product Complexity
: 0.49, Rnk 351 / 961

2018 - 2019
Export Growth (CAGR)
: 0.88%, Rnk 336 / 1217

2018
Mean Tariff
: 7.79%, Rnk 559 / 1259

 2019
Share of World Trade
: 0.28%, Rnk 69 / 1217

Overview:  This page contains the latest trade data of Iron Structures. In 2019, Iron Structures were the world's 69th most traded product, with a total trade of $51B. Between 2018 and 2019 the exports of Iron Structures grew by 0.88%, from  $50.5B to $51B. Trade in Iron Structures represent 0.28% of total world trade.

Exports: In 2019 the top exporters of Iron Structures  were China ($13.3B), Germany ($4.7B), Poland ($2.76B), Spain ($1.82B), and South Korea ($1.81B).

Imports: In 2019 the top importers of Iron Structures were United States ($5.28B), Germany ($4.02B), France ($2.44B), Japan ($2.15B), and United Kingdom ($1.87B).

Tariffs: In 2018 the average tariff for Iron Structures was 7.79%, making it the 559th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Iron Structures are Bahamas (29.3%), Sudan (26.2%), Bangladesh (24.8%), Syria (23.9%), and Sri Lanka (23.8%). The countries with the lowest tariffs are Hong Kong (0%), Japan (0%), Singapore (0%), Turkey (0%), and Switzerland (0%).

Ranking: Iron Structures ranks 351st in the Product Complexity Index (PCI).

Description: Iron and steel are used to make bridges, lock-gates, towers, lattice masts, roofs, roofing frameworks, doors and windows and their frames and thresholds for doors, shutters, balustrades, pillars and columns.

Exporters and Importers

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Trade By Country

Top Origin (2019): China, $13.3B

Top Destination (2019): United States, $5.28B

Iron Structures are the world's 69th most traded product.

In 2019, the top exporters of Iron Structures were China ($13.3B), Germany ($4.7B), Poland ($2.76B), Spain ($1.82B), and South Korea ($1.81B).

In 2019, the top importers of Iron Structures were United States ($5.28B), Germany ($4.02B), France ($2.44B), Japan ($2.15B), and United Kingdom ($1.87B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): China, $1.57B

Top Destination Growth (2018 - 2019): United States, $627M

Between 2018 and 2019, the exports of Iron Structures grew the fastest in China ($1.57B), Vietnam ($290M), Mexico ($255M), United Arab Emirates ($185M), and Turkey ($171M).

Between 2018 and 2019, the fastest growing importers of Iron Structures were United States ($627M), South Korea ($361M), Philippines ($286M), Saudi Arabia ($180M), and Vietnam ($176M).

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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 Structures.

In 2019,  market concentration measured using Shannon Entropy, was 4.63. This means that most of the exports of Iron Structures are explained by 24 countries.

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TOP NET EXPORTER (2019): China, $12.9B

TOP NET IMPORTER (2019): United States, $4.14B

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

In 2019, the countries that had a largest trade value in exports than in imports of Iron Structures were China ($12.9B), Poland ($2.05B), Spain ($1.26B), Turkey ($1.21B), and Italy ($1.07B).

In 2019, the countries that had a largest trade value in imports than in exports of Iron Structures were United States ($4.14B), Japan ($1.84B), France ($1.84B), Norway ($1.06B), and United Kingdom ($1.05B).

Disaggregation

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Value

In 2019, the world most traded Iron Structures, disaggragated by their HS6 level were Structures and parts of structures, iron... ($36.7B), Props etc for scaffold, shuttering, pits,... ($5.35B), Doors, windows, frames of iron or... ($3.84B), Towers and lattice masts, iron or... ($3.72B), and Bridges and bridge sections, iron or... ($1.34B)

Import Tariffs

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In 2018, the average tariff for importing Iron Structures was 7.79%.  The countries with the highest tariffs for importing Iron Structures were Bahamas (29.3%), Sudan (26.2%), Bangladesh (24.8%), Syria (23.9%), and Sri Lanka (23.8%).

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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.