Steel Ingots7224 (Harmonized System 1992 for 4-digit)
World Trade (2018): $4.45B, Rnk 539 / 1225
Top Exporter (2018): $1.17B, Brazil
Top Importer (2018): $1.33B, United States
Product Complexity (2018): 0.66, Rnk 304 / 1018
Export Growth (CAGR)(2017 - 2018): 26.4%, Rnk 212 / 1225
Mean Tariff (2018): 2.96%, Rnk 1143 / 1259
Share of World Trade (2018): 0.024%, Rnk 539 / 1225
Overview: This page contains the latest trade data of Steel Ingots. In 2018, Steel Ingots were the world's 539th most traded product, with a total trade of $4.45B. Between 2017 and 2018 the exports of Steel Ingots grew by 26.4%, from $3.52B to $4.45B. Trade in Steel Ingots represent 0.024% of total world trade.
Exports: In 2018 the top exporters of Steel Ingots were Brazil ($1.17B), Russia ($429M), France ($383M), Italy ($345M), and Austria ($303M).
Imports: In 2018 the top importers of Steel Ingots were United States ($1.33B), Germany ($647M), Belgium-Luxembourg ($257M), Italy ($247M), and France ($184M).
Tariffs: In 2018 the average tariff for Steel Ingots was 2.96%, been the 1143 lowest tariff using the HS4 product classification.
The countries with the highest import tariffs for Steel Ingots are Bahamas (31.2%), Bermuda (25%), Sudan (21.9%), Mauritania (13%), and Algeria (12.2%). The countries with the lowest tariffs are Kenya (0%), Mauritius (0%), Rwanda (0%), Tanzania (0%), and Uganda (0%).
Ranking: Steel Ingots ranks 304th in the Product Complexity Index (PCI).
Trade By Country
Top Origin (2018): Brazil, $1.17B
Top Destination (2018): United States, $1.33B
Steel Ingots are the world's 539th most traded product.
In 2018, the top exporters of Steel Ingots were Brazil ($1.17B), Russia ($429M), France ($383M), Italy ($345M), and Austria ($303M).
In 2018, the top importers of Steel Ingots were United States ($1.33B), Germany ($647M), Belgium-Luxembourg ($257M), Italy ($247M), and France ($184M).
Trade by country
Top Origin Growth (2017 - 2018): Brazil, $326M
Top Destination Growth (2017 - 2018): United States, $449M
Between 2017 and 2018, the exports of Steel Ingots grew the fastest in Brazil ($326M), France ($126M), Romania ($69.3M), Italy ($68.4M), and Turkey ($68.4M).
Between 2017 and 2018, the fastest growing importers of Steel Ingots were United States ($449M), Germany ($104M), Canada ($88.8M), Belgium-Luxembourg ($71M), and France ($69.7M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Steel Ingots.
In 2018, market concentration measured using Shannon Entropy, was 4.04. This means that most of the exports of Steel Ingots are explained by 16 countries.
TOP NET EXPORTER (2018): Brazil, $1.15B
TOP NET IMPORTER (2018): United States, $1.26B
This map shows which countries export or import more of Steel Ingots. Each country is colored based on the difference in exports and imports of Steel Ingots during 2018.
In 2018, the countries that had a largest trade value in exports than in imports of Steel Ingots were Brazil ($1.15B), Russia ($427M), France ($199M), Austria ($196M), and Japan ($161M).
In 2018, the countries that had a largest trade value in imports than in exports of Steel Ingots were United States ($1.26B), Germany ($436M), Belgium-Luxembourg ($174M), Sweden ($101M), and Spain ($98M).
This section shows forecasts for total trade for Steel Ingots. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
In 2018, the average tariff for importing Steel Ingots was 2.96%. The countries with the highest tariffs for importing Steel Ingots were Bahamas (31.2%), Bermuda (25%), Sudan (21.9%), Mauritania (13%), and Algeria (12.2%).
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.
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