HS Icon Iron Wire

7217 (Harmonized System 1992 for 4-digit)

World Trade (2018): $7.81B, Rnk 393 / 1225

Top Exporter (2018): $1.71B, China

Top Importer (2018): $641M, Germany

Product Complexity (2018): -0.46, Rnk 684 / 1018

Export Growth (CAGR)(2017 - 2018): 22.4%, Rnk 279 / 1225

Mean Tariff (2018): 7.05%, Rnk 615 / 1259

Share of World Trade (2018): 0.042%, Rnk 393 / 1225

Overview:  This page contains the latest trade data of Iron Wire. In 2018, Iron Wire were the world's 393rd most traded product, with a total trade of $7.81B. Between 2017 and 2018 the exports of Iron Wire grew by 22.4%, from  $6.38B to $7.81B. Trade in Iron Wire represent 0.042% of total world trade.

Exports: In 2018 the top exporters of Iron Wire  were China ($1.71B), Germany ($559M), Italy ($510M), South Korea ($391M), and Czechia ($349M).

Imports: In 2018 the top importers of Iron Wire were Germany ($641M), United States ($633M), Poland ($345M), France ($337M), and India ($217M).

Tariffs: In 2018 the average tariff for Iron Wire was 7.05%, making it the 615th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Iron Wire are Bahamas (40.2%), Bermuda (25%), Iran (21.2%), Tunisia (20%), and Angola (20%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), South Korea (0%), and Singapore (0%).

Ranking: Iron Wire ranks 684th in the Product Complexity Index (PCI).

Description: Wire is used to make things like wire coat hangers, electrical wiring, and other products. Wire can be made from a variety of materials, including iron or non-alloy steel.

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $1.71B

Top Destination (2018): Germany, $641M

Iron Wire are the world's 393rd most traded product.

In 2018, the top exporters of Iron Wire were China ($1.71B), Germany ($559M), Italy ($510M), South Korea ($391M), and Czechia ($349M).

In 2018, the top importers of Iron Wire were Germany ($641M), United States ($633M), Poland ($345M), France ($337M), and India ($217M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $342M

Top Destination Growth (2017 - 2018): Germany, $155M

Between 2017 and 2018, the exports of Iron Wire grew the fastest in China ($342M), Italy ($153M), Turkey ($112M), Czechia ($102M), and Germany ($73.1M).

Between 2017 and 2018, the fastest growing importers of Iron Wire were Germany ($155M), Poland ($82.8M), India ($51.5M), France ($50.1M), and Vietnam ($48.3M).

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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 Wire.

In 2018,  market concentration measured using Shannon Entropy, was 4.66. This means that most of the exports of Iron Wire are explained by 25 countries.

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TOP NET EXPORTER (2018): China, $1.56B

TOP NET IMPORTER (2018): United States, $481M

This map shows which countries export or import more of Iron Wire. Each country is colored based on the difference in exports and imports of Iron Wire during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Iron Wire were China ($1.56B), Italy ($307M), South Korea ($248M), Slovakia ($218M), and Turkey ($207M).

In 2018, the countries that had a largest trade value in imports than in exports of Iron Wire were United States ($481M), Poland ($252M), Switzerland ($210M), India ($167M), and United Kingdom ($124M).

Disaggregation

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Value

In 2018, the world most traded Iron Wire, disaggragated by their HS6 level were Wire, iron or non-alloy steel, not... ($3.15B), Wire, iron or non-alloy steel, plated... ($2.66B), Wire, iron or non-alloy steel, of... ($1.38B), Wire, iron or non-alloy steel, <0.25%... ($483M), and Wire, iron or non-alloy steel, more... ($77.4M)

Import Tariffs

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In 2018, the average tariff for importing Iron Wire was 7.05%.  The countries with the highest tariffs for importing Iron Wire were Bahamas (40.2%), Bermuda (25%), Iran (21.2%), Tunisia (20%), and Angola (20%).

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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.