HS Icon Scrap Nickel

7503 (Harmonized System 1992 for 4-digit)

World Trade (2018): $887M, Rnk 939 / 1225

Top Exporter (2018): $165M, United States

Top Importer (2018): $291M, United States

Product Complexity (2018): 0.23, Rnk 459 / 1018

Export Growth (CAGR)(2017 - 2018): 39.5%, Rnk 105 / 1225

Mean Tariff (2018): 2.41%, Rnk 1187 / 1259

Share of World Trade (2018): 0.0048%, Rnk 939 / 1225

Overview:  This page contains the latest trade data of Scrap Nickel. In 2018, Scrap Nickel were the world's 939th most traded product, with a total trade of $887M. Between 2017 and 2018 the exports of Scrap Nickel grew by 39.5%, from  $636M to $887M. Trade in Scrap Nickel represent 0.0048% of total world trade.

Exports: In 2018 the top exporters of Scrap Nickel  were United States ($165M), United Kingdom ($145M), Germany ($72.1M), France ($40.9M), and South Korea ($38.2M).

Imports: In 2018 the top importers of Scrap Nickel were United States ($291M), Canada ($134M), Japan ($106M), United Kingdom ($73.9M), and Germany ($62.4M).

Tariffs: In 2018 the average tariff for Scrap Nickel was 2.41%, been the 1187 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Scrap Nickel are Bahamas (40.2%), Bermuda (25%), Sudan (21.9%), Maldives (19.6%), and Panama (15%). The countries with the lowest tariffs are Kenya (0%), Mauritius (0%), Rwanda (0%), Tanzania (0%), and Uganda (0%).

Ranking: Scrap Nickel ranks 459th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $165M

Top Destination (2018): United States, $291M

Scrap Nickel are the world's 939th most traded product.

In 2018, the top exporters of Scrap Nickel were United States ($165M), United Kingdom ($145M), Germany ($72.1M), France ($40.9M), and South Korea ($38.2M).

In 2018, the top importers of Scrap Nickel were United States ($291M), Canada ($134M), Japan ($106M), United Kingdom ($73.9M), and Germany ($62.4M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $124M

Top Destination Growth (2017 - 2018): Canada, $115M

Between 2017 and 2018, the exports of Scrap Nickel grew the fastest in United States ($124M), United Kingdom ($58.7M), Malaysia ($11.8M), Singapore ($11.4M), and South Korea ($10.9M).

Between 2017 and 2018, the fastest growing importers of Scrap Nickel were Canada ($115M), United States ($75.9M), Japan ($27.6M), Italy ($6.91M), and Netherlands ($5.27M).

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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 Scrap Nickel.

In 2018,  market concentration measured using Shannon Entropy, was 4.44. This means that most of the exports of Scrap Nickel are explained by 21 countries.

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TOP NET EXPORTER (2018): United Kingdom, $71.4M

TOP NET IMPORTER (2018): United States, $126M

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

In 2018, the countries that had a largest trade value in exports than in imports of Scrap Nickel were United Kingdom ($71.4M), South Korea ($25.2M), France ($24.8M), Mexico ($24.8M), and Saudi Arabia ($21.7M).

In 2018, the countries that had a largest trade value in imports than in exports of Scrap Nickel were United States ($126M), Canada ($100M), Japan ($71.1M), India ($20M), and Sweden ($19.9M).

Trade Forecasts

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This section shows forecasts for total trade for Scrap Nickel. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Import Tariffs

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In 2018, the average tariff for importing Scrap Nickel was 2.41%.  The countries with the highest tariffs for importing Scrap Nickel were Bahamas (40.2%), Bermuda (25%), Sudan (21.9%), Maldives (19.6%), and Panama (15%).

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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.