HS Icon Stainless Steel Ingots

7218 (Harmonized System 1992 for 4-digit)

Overview This page contains the latest trade data of Stainless Steel Ingots. In 2019, Stainless Steel Ingots were the world's 733rd most traded product, with a total trade of $1.96B. Between 2018 and 2019 the exports of Stainless Steel Ingots decreased by -31.5%, from $2.87B to $1.96B. Trade in Stainless Steel Ingots represent 0.011% of total world trade.

Exports In 2019 the top exporters of Stainless Steel Ingots  were United Kingdom ($460M), Indonesia ($397M), Sweden ($211M), Germany ($104M), and Italy ($103M).

Imports In 2019 the top importers of Stainless Steel Ingots were Sweden ($302M), China ($260M), United States ($220M), Italy ($188M), and Germany ($126M).

Tariffs In 2018 the average tariff for Stainless Steel Ingots was 3.9%, making it the 1020th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Stainless Steel Ingots are Bahamas (40.2%), Bermuda (25%), Romania (17.2%), Algeria (12.2%), and Poland (10.6%). The countries with the lowest tariffs are Kenya (0%), Mauritius (0%), Rwanda (0%), Tanzania (0%), and Uganda (0%).

Ranking Stainless Steel Ingots ranks 294th in the Product Complexity Index (PCI).

Description Stainless steel is a type of steel that contains at least 10% chromium. It's used in the production of things like stainless steel sinks, cookware, and other household items.

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): United Kingdom, $460M

Top Destination (2019): Sweden, $302M

Stainless Steel Ingots are the world's 733rd most traded product.

In 2019, the top exporters of Stainless Steel Ingots were United Kingdom ($460M), Indonesia ($397M), Sweden ($211M), Germany ($104M), and Italy ($103M).

In 2019, the top importers of Stainless Steel Ingots were Sweden ($302M), China ($260M), United States ($220M), Italy ($188M), and Germany ($126M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Finland, $8.47M

Top Destination Growth (2018 - 2019): Italy, $61.2M

Between 2018 and 2019, the exports of Stainless Steel Ingots grew the fastest in Finland ($8.47M), Portugal ($4.07M), Ukraine ($4.04M), Austria ($4.04M), and Ghana ($3.42M).

Between 2018 and 2019, the fastest growing importers of Stainless Steel Ingots were Italy ($61.2M), United Kingdom ($15.8M), Turkey ($11.5M), Mexico ($8.37M), and France ($3.09M).

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Market Concentration

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Cumulative market share

Value

This chart shows the evolution of the market concentration of exports of Stainless Steel Ingots.

In 2019,  market concentration measured using Shannon Entropy, was 3.83. This means that most of the exports of Stainless Steel Ingots are explained by 14 countries.

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TOP NET EXPORTER (2019): United Kingdom, $403M

TOP NET IMPORTER (2019): China, $241M

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

In 2019, the countries that had a largest trade value in exports than in imports of Stainless Steel Ingots were United Kingdom ($403M), Indonesia ($370M), Spain ($30.2M), Malaysia ($21.6M), and Austria ($16.6M).

In 2019, the countries that had a largest trade value in imports than in exports of Stainless Steel Ingots were China ($241M), United States ($131M), Sweden ($91.7M), Italy ($85.2M), and Chinese Taipei ($50.3M).

Disaggregation

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Value

In 2019, the world most traded Stainless Steel Ingots, disaggragated by their HS6 level were Semi-finished products, stainless steel ($1.65B) and Ingots and other primary forms, stainless... ($312M)

Import Tariffs

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In 2018, the average tariff for importing Stainless Steel Ingots was 3.9%. The countries with the highest tariffs for importing Stainless Steel Ingots were Bahamas (40.2%), Bermuda (25%), Romania (17.2%), Algeria (12.2%), and Poland (10.6%).

Product Complexity

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Diversification Frontier

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Specialization

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.

Country by Relatedness

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The following visualization shows the relatedness of Stainless Steel Ingots to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.