2023
Exports
$2.1BWorld Rnk 9 / 153
Flag Rnk 31 / 1212
2023
PRODUCT COMPLEXITY IN Hot-Rolled Iron
0.54Rnk 355 / 1025
2023
Imports
$2.22BWorld Rnk 11 / 211
Flag Rnk 43 / 1208
2023
ECONOMIC COMPLEXITY of India
0.65Rnk 39 / 132

About

Exports In 2023, India exported $2.1B in Hot-Rolled Iron, making it the 9th largest exporter of Hot-Rolled Iron in the world. At the same year, Hot-Rolled Iron was the 31st most exported product in India. The main destination of Hot-Rolled Iron exports from India are: Italy ($618M), United Arab Emirates ($418M), Nepal ($234M), Vietnam ($168M), and Spain ($129M).

The fastest growing export markets for Hot-Rolled Iron of India between 2022 and 2023 were Italy ($102M), Nepal ($61.6M), and Mexico ($48.7M).

Imports In 2023, India imported $2.22B in Hot-Rolled Iron, becoming the 11th largest importer of Hot-Rolled Iron in the world. At the same year, Hot-Rolled Iron was the 43rd most imported product in India. India imports Hot-Rolled Iron primarily from: South Korea ($801M), Vietnam ($496M), China ($369M), Japan ($321M), and Austria ($106M).

The fastest growing import markets in Hot-Rolled Iron for India between 2022 and 2023 were Vietnam ($455M), China ($286M), and Japan ($246M).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Hot-Rolled Iron. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$2.1B
IMPORTS (2023)$2.22B
NET TRADE (2023)-$124M

In 2023, India exported $2.1B in Hot-Rolled Iron. The main destinations of India exports on Hot-Rolled Iron were Italy ($618M), United Arab Emirates ($418M), Nepal ($234M), Vietnam ($168M), and Spain ($129M).

In 2023, India imported $2.22B in Hot-Rolled Iron, mainly from South Korea ($801M), Vietnam ($496M), China ($369M), Japan ($321M), and Austria ($106M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Hot-Rolled Iron EXPORT MARKETS FOR India WERE (2022 - 2023):
Italy$102M (19.9%)
Nepal$61.6M (35.6%)
Mexico$48.7M (14.8k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Hot-Rolled Iron BY India WERE (2022 - 2023):
Turkey-$446M (-92.6%)
United Arab Emirates-$362M (-46.4%)
Vietnam-$217M (-56.4%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, India's main exporting competitors in Hot-Rolled Iron were:
China $16.4B
Japan $10.4B
In 2023, India's main importing competitors in Hot-Rolled Iron were:

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Trade Value of Hot-Rolled Iron by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALTurkey+ $92.3M
TOP IMPORT POTENTIALChina+ $149M

Hot-Rolled Iron’s highest export potential is Turkey. With an export gap of $92.3M.   Hot-Rolled Iron’s highest import potential is China with an import gap of $149M.

See methodology.

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