HS Icon Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes

720712 (Harmonized System 1992 for 6-digit)

 2019
World Trade
: $11.3B, Rnk 266 / 4648

2019
Top Exporter | Top Importer
: $3.39B | $2.53B, Russia | United States

2019
Product Complexity
: -0.077, Rnk 2752 / 4826

2018 - 2019
Export Growth (CAGR)
: -23%, Rnk 4305 / 4648

2018
Mean Tariff
: 3.65%, Rnk 5310 / 6538

 2019
Share of World Trade
: 0.062%, Rnk 266 / 4648

Overview:  This page contains the latest trade data of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes. In 2019, Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were the world's 266th most traded product, with a total trade of $11.3B. Between 2018 and 2019 the exports of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes decreased by -23%, from  $14.6B to $11.3B. Trade in Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes represent 0.062% of total world trade.

Exports: In 2019 the top exporters of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes  were Russia ($3.39B), Brazil ($2.68B), Ukraine ($1.33B), Japan ($968M), and Mexico ($462M).

Imports: In 2019 the top importers of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were United States ($2.53B), Italy ($1.31B), Mexico ($1.03B), Chinese Taipei ($1.02B), and Belgium ($972M).

Tariffs: In 2018 the average tariff for Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes was 3.65%, making it the 5310th lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes are Bahamas (41.8%), Bermuda (25%), Sudan (21.9%), Bangladesh (20.1%), and Tunisia (20%). The countries with the lowest tariffs are Egypt (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes ranks 2752nd in the Product Complexity Index (PCI).

Description: Semi-finished bars are used in a variety of industries, including construction, automotive, and home appliance.

Exporters and Importers

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Trade By Country

Top Origin (2019): Russia, $3.39B

Top Destination (2019): United States, $2.53B

Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes are the world's 266th most traded product.

In 2019, the top exporters of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were Russia ($3.39B), Brazil ($2.68B), Ukraine ($1.33B), Japan ($968M), and Mexico ($462M).

In 2019, the top importers of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were United States ($2.53B), Italy ($1.31B), Mexico ($1.03B), Chinese Taipei ($1.02B), and Belgium ($972M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): United Arab Emirates, $116M

Top Destination Growth (2018 - 2019): China, $192M

Between 2018 and 2019, the exports of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes grew the fastest in United Arab Emirates ($116M), Poland ($84M), Sweden ($81.1M), Canada ($72.5M), and India ($60M).

Between 2018 and 2019, the fastest growing importers of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were China ($192M), Indonesia ($104M), Spain ($95.5M), Finland ($81.3M), and Italy ($54.7M).

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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 Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes.

In 2019,  market concentration measured using Shannon Entropy, was 3.21. This means that most of the exports of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes are explained by 9 countries.

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TOP NET EXPORTER (2019): Russia, $3.39B

TOP NET IMPORTER (2019): United States, $2.52B

This map shows which countries export or import more of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes. Each country is colored based on the difference in exports and imports of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were Russia ($3.39B), Brazil ($2.63B), Ukraine ($1.33B), Japan ($825M), and United Arab Emirates ($339M).

In 2019, the countries that had a largest trade value in imports than in exports of Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were United States ($2.52B), Italy ($1.31B), Chinese Taipei ($1.02B), Belgium ($954M), and Mexico ($565M).

Import Tariffs

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In 2018, the average tariff for importing Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes was 3.65%.  The countries with the highest tariffs for importing Semi-finished bars, iron or non-alloy steel <0.25%C, rectangular, nes were Bahamas (41.8%), Bermuda (25%), Sudan (21.9%), Bangladesh (20.1%), and Tunisia (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.