HS Icon Steel Wire

7229 (Harmonized System 1992 for 4-digit)

Overview This page contains the latest trade data of Steel Wire. In 2019, Steel Wire were the world's 682nd most traded product, with a total trade of $2.37B. Between 2018 and 2019 the exports of Steel Wire decreased by -9.34%, from $2.61B to $2.37B. Trade in Steel Wire represent 0.013% of total world trade.

Exports In 2019 the top exporters of Steel Wire  were China ($428M), South Korea ($293M), Japan ($284M), Germany ($168M), and Czechia ($147M).

Imports In 2019 the top importers of Steel Wire were Germany ($235M), United States ($218M), China ($180M), Japan ($94.1M), and Poland ($90.9M).

Tariffs In 2018 the average tariff for Steel Wire was 5.58%, making it the 740th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Steel Wire are Bahamas (40.2%), Bermuda (25%), Angola (20%), Pakistan (19.5%), and Romania (17.2%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Zambia (0%), Hong Kong (0%), and Japan (0%).

Ranking Steel Wire ranks 84th in the Product Complexity Index (PCI).

Description Wire of alloy steel other than stainless is used in the production of other goods. It can be made from a variety of materials, including iron, chromium, nickel, and molybdenum.

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): China, $428M

Top Destination (2019): Germany, $235M

Steel Wire are the world's 682nd most traded product.

In 2019, the top exporters of Steel Wire were China ($428M), South Korea ($293M), Japan ($284M), Germany ($168M), and Czechia ($147M).

In 2019, the top importers of Steel Wire were Germany ($235M), United States ($218M), China ($180M), Japan ($94.1M), and Poland ($90.9M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Turkey, $27.7M

Top Destination Growth (2018 - 2019): Costa Rica, $12.1M

Between 2018 and 2019, the exports of Steel Wire grew the fastest in Turkey ($27.7M), Canada ($10.8M), Vietnam ($5.67M), Ecuador ($3.47M), and Ukraine ($3.38M).

Between 2018 and 2019, the fastest growing importers of Steel Wire were Costa Rica ($12.1M), Vietnam ($10.8M), Brazil ($7.94M), Czechia ($5.77M), and Russia ($5.23M).

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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 Steel Wire.

In 2019,  market concentration measured using Shannon Entropy, was 4.22. This means that most of the exports of Steel Wire are explained by 18 countries.

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TOP NET EXPORTER (2019): China, $248M

TOP NET IMPORTER (2019): United States, $148M

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

In 2019, the countries that had a largest trade value in exports than in imports of Steel Wire were China ($248M), South Korea ($219M), Japan ($190M), Czechia ($89.4M), and Italy ($77.8M).

In 2019, the countries that had a largest trade value in imports than in exports of Steel Wire were United States ($148M), Poland ($76.6M), Mexico ($72.1M), Russia ($70M), and Germany ($66.8M).

Disaggregation

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Value

In 2019, the world most traded Steel Wire, disaggragated by their HS6 level were Wire of alloy steel nes ($1.69B) and Wire of silico-manganese steel ($681M)

Import Tariffs

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In 2018, the average tariff for importing Steel Wire was 5.58%. The countries with the highest tariffs for importing Steel Wire were Bahamas (40.2%), Bermuda (25%), Angola (20%), Pakistan (19.5%), and Romania (17.2%).

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 Steel Wire to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.