HS Icon Other Iron Products

7326 (Harmonized System 1992 for 4-digit)

 2019
World Trade
: $53.8B, Rnk 62 / 1217

2019
Top Exporter | Top Importer
: $10.8B | $6.56B, China | United States

2019
Product Complexity
: 0.71, Rnk 255 / 961

2018 - 2019
Export Growth (CAGR)
: -1.9%, Rnk 540 / 1217

2018
Mean Tariff
: 7.78%, Rnk 563 / 1259

 2019
Share of World Trade
: 0.3%, Rnk 62 / 1217

Overview:  This page contains the latest trade data of Other Iron Products. In 2019, Other Iron Products were the world's 62nd most traded product, with a total trade of $53.8B. Between 2018 and 2019 the exports of Other Iron Products decreased by -1.9%, from  $54.8B to $53.8B. Trade in Other Iron Products represent 0.3% of total world trade.

Exports: In 2019 the top exporters of Other Iron Products  were China ($10.8B), Germany ($5.51B), United States ($4.72B), Italy ($3.7B), and France ($2.09B).

Imports: In 2019 the top importers of Other Iron Products were United States ($6.56B), Germany ($5.89B), Mexico ($2.68B), France ($2.54B), and Japan ($2.27B).

Tariffs: In 2018 the average tariff for Other Iron Products was 7.78%, making it the 563rd lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Other Iron Products are Bahamas (41.1%), Zimbabwe (23.5%), Algeria (23%), Ecuador (22.2%), and Sudan (21.9%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), Singapore (0%), and Switzerland (0%).

Ranking: Other Iron Products ranks 255th in the Product Complexity Index (PCI).

Description: Articles of iron or steel are used in the production of other goods. They can be made from a variety of materials, including cast iron, wrought iron, and steel.

Exporters and Importers

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Trade By Country

Top Origin (2019): China, $10.8B

Top Destination (2019): United States, $6.56B

Other Iron Products are the world's 62nd most traded product.

In 2019, the top exporters of Other Iron Products were China ($10.8B), Germany ($5.51B), United States ($4.72B), Italy ($3.7B), and France ($2.09B).

In 2019, the top importers of Other Iron Products were United States ($6.56B), Germany ($5.89B), Mexico ($2.68B), France ($2.54B), and Japan ($2.27B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): China, $183M

Top Destination Growth (2018 - 2019): Singapore, $118M

Between 2018 and 2019, the exports of Other Iron Products grew the fastest in China ($183M), United States ($158M), Mexico ($92.4M), Vietnam ($81.9M), and Malaysia ($63.4M).

Between 2018 and 2019, the fastest growing importers of Other Iron Products were Singapore ($118M), Vietnam ($87M), India ($76.7M), Mexico ($63.4M), and Russia ($63.2M).

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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 Other Iron Products.

In 2019,  market concentration measured using Shannon Entropy, was 4.64. This means that most of the exports of Other Iron Products are explained by 24 countries.

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TOP NET EXPORTER (2019): China, $8.7B

TOP NET IMPORTER (2019): United States, $1.84B

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

In 2019, the countries that had a largest trade value in exports than in imports of Other Iron Products were China ($8.7B), Italy ($2.64B), Chinese Taipei ($829M), Czechia ($742M), and Poland ($517M).

In 2019, the countries that had a largest trade value in imports than in exports of Other Iron Products were United States ($1.84B), Mexico ($1.41B), Japan ($677M), United Kingdom ($565M), and Australia ($556M).

Disaggregation

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Value

In 2019, the world most traded Other Iron Products, disaggragated by their HS6 level were Articles of iron or steel, nes ($45.3B), Articles, iron or steel nes, forged/stamped,... ($3.98B), Articles of iron or steel wire,... ($3.35B), and Balls, iron/steel, forged/stamped for grinding mills ($1.19B)

Import Tariffs

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In 2018, the average tariff for importing Other Iron Products was 7.78%.  The countries with the highest tariffs for importing Other Iron Products were Bahamas (41.1%), Zimbabwe (23.5%), Algeria (23%), Ecuador (22.2%), and Sudan (21.9%).

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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.