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2022
Exports $21.8BWorld Rnk 4 / 226
Flag Rnk 15 / 96
2022
Destination $1.06B Canada
2021 - 2022
FASTEST GROWING MARKET $1.06BMexico
2022
PRODUCT COMPLEXITY IN Iron or steel articles1.68Rnk 27 / 1025
2022
Imports $59.3BWorld Rnk 1 / 225
Flag Rnk 12 / 96
2022
Origin $1.55B China
2021 - 2022
FASTEST GROWING ORIGIN $1.55BMexico
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $21.8B in Iron or steel articles, making it the 4th largest exporter of Iron or steel articles in the world. At the same year, Iron or steel articles was the 15th most exported product in United States. The main destination of Iron or steel articles exports from United States are: Canada ($6.85B), Mexico ($6.82B), China ($643M), Germany ($517M), and United Kingdom ($483M).

The fastest growing export markets for Iron or steel articles of United States between 2021 and 2022 were Mexico ($1.06B), Canada ($997M), and Brazil ($72.9M).

Imports In 2022, United States imported $59.3B in Iron or steel articles, becoming the 1st largest importer of Iron or steel articles in the world. At the same year, Iron or steel articles was the 12th most imported product in United States. United States imports Iron or steel articles primarily from: China ($15.4B), Mexico ($7.8B), Canada ($6.26B), Chinese Taipei ($4.43B), and South Korea ($3.64B).

The fastest growing import markets in Iron or steel articles for United States between 2021 and 2022 were Mexico ($1.55B), South Korea ($1.21B), and India ($1.13B).

COMPANIES In 2023, leading companies such as ZF Friedrichshafen (4.33k), Robert Bosch (2.71k), and IKEA Group (2.01k) were at the forefront of shipping Iron or steel articles to the United States.

Latest Trends

October 2024

About

Overview In October 2024 United States' Iron or steel articles exports accounted up to $1.93B and imports accounted up to $4.24B, resulting in a negative trade balance of $2.32B. Between October 2023 and October 2024 the exports of United States'   Iron or steel articles have decreased by $-23.6M (-1.21%) from $1.95B to $1.93B, while imports decreased by $-173M (-3.92%) from $4.42B to $4.24B.

Destinations In October 2024, Iron or steel articles were exported mostly to Mexico ($737M), Canada ($505M), United Kingdom ($54.5M), China ($51.3M), and Germany ($38.7M), and were imported mostly from China ($1.08B), Mexico ($633M), Canada ($455M), Germany ($282M), and Chinese Taipei ($244M).

Growth In October 2024, the decrease in Iron or steel articles's year-by-year exports was explained primarily by a decrease in exports to China ($-13.6M or -23.7%), United Kingdom ($-9.6M or -22.2%), and Japan ($-4.48M or -12.8%). In October 2024, the decrease in Iron or steel articles's year-by-year imports was explained primarily by a decrease in imports from China ($-435M or -32%), Oman ($-23.4M or -90.1%), and Russia ($-17.6M or -99.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-23.6M(-1.21%)
IMPORT GROWTH (October 2023 - October 2024)$-173M(-3.92%)
MAIN EXPORTER (October 2024)Texas$443M
MAIN DESTINATION (October 2024)Mexico$737M

This section shows Iron or steel articles's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Iron or steel articles over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$21.8B
IMPORTS (2022)$59.3B
NET TRADE (2022)-$37.6B

In 2022, United States exported $21.8B in Iron or steel articles. The main destinations of United States exports on Iron or steel articles were Canada ($6.85B), Mexico ($6.82B), China ($643M), Germany ($517M), and United Kingdom ($483M).

In 2022, United States imported $59.3B in Iron or steel articles, mainly from China ($15.4B), Mexico ($7.8B), Canada ($6.26B), Chinese Taipei ($4.43B), and South Korea ($3.64B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron or steel articles EXPORT MARKETS FOR United States WERE (2021 - 2022):
Mexico$1.06B (18.3%)
Canada$997M (17%)
Brazil$72.9M (24.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron or steel articles BY United States WERE (2021 - 2022):
Panama-$94.8M (-63.6%)
China-$64M (-9.06%)
Russia-$58.4M (-81.3%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Iron or steel articles were:
China $109B
Germany $33.5B
Italy $22.2B
In 2022, United States's main importing competitors in Iron or steel articles were:
Germany $32.6B
France $16.2B

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Trade Value of Iron or steel articles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $301M
TOP IMPORT POTENTIALCanada+ $1.16B

Iron or steel articles’s highest export potential is China. With an export gap of $301M.   Iron or steel articles’s highest import potential is Canada with an import gap of $1.16B.

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