Iron Reductions in China | The Observatory of Economic Complexity

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Exports In 2022, China exported $65.7M in Iron Reductions, making it the 13th largest exporter of Iron Reductions in the world. At the same year, Iron Reductions was the 926th most exported product in China. The main destination of Iron Reductions exports from China are: Japan ($24.8M), South Korea ($8.9M), Thailand ($7.75M), Chinese Taipei ($5.91M), and Malaysia ($5.2M).

The fastest growing export markets for Iron Reductions of China between 2021 and 2022 were Japan ($24.4M), Thailand ($7.75M), and Chinese Taipei ($5.47M).

Imports In 2022, China imported $380M in Iron Reductions, becoming the 4th largest importer of Iron Reductions in the world. At the same year, Iron Reductions was the 404th most imported product in China. China imports Iron Reductions primarily from: Russia ($251M), United States ($69.5M), United Arab Emirates ($31.3M), Venezuela ($24.1M), and Iran ($1.74M).

The fastest growing import markets in Iron Reductions for China between 2021 and 2022 were United States ($47.1M), United Arab Emirates ($3.37M), and India ($1.1M).

COMPANIES In 2023, leading companies such as APEX TOOL GROUP, LLC. (28), ELECTROLUX HOME PRODUCTS, INC. (28), and TRACTOR SUPPLY COMPANY OF (9) were at the forefront of shipping Iron Reductions from China to the United States.

Latest Trends

February 2024

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Overview In February 2024 China's Iron Reductions exports accounted up to $1.5M and imports accounted up to $7.95k, resulting in a positive trade balance of $1.49M. Between February 2023 and February 2024 the exports of China's Iron Reductions have increased by $288k (23.7%) from $1.21M to $1.5M, while imports decreased by $-6.74M (-99.9%) from $6.75M to $7.95k.

Destinations In February 2024, Iron Reductions were exported mostly to South Korea ($360k), Thailand ($313k), United Arab Emirates ($182k), India ($154k), and Philippines ($75.9k), and were imported mostly from India ($7.6k) and Japan ($352).

Growth In February 2024, the increase in Iron Reductions's year-by-year exports was explained primarily by an increase in exports to South Korea ($450k or 101%), Germany ($323k or 24.8k%), and United States ($113k or 24.3k%). In February 2024, the decrease in Iron Reductions's year-by-year imports was explained primarily by a decrease in imports from United States ($-1.02M or -5.24%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$288k(23.7%)

IMPORT GROWTH (February 2023 - February 2024)$-6.74M(-99.9%)

MAIN EXPORTER (February 2024)Guangdong Province$1.13M

MAIN DESTINATION (February 2024)South Korea$360k

This section shows Iron Reductions's exports and imports data at subnational level for China. 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 Reductions over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$65.7M

IMPORTS (2022)$380M

NET TRADE (2022)-$314M

In 2022, China exported $65.7M in Iron Reductions. The main destinations of China exports on Iron Reductions were Japan ($24.8M), South Korea ($8.9M), Thailand ($7.75M), Chinese Taipei ($5.91M), and Malaysia ($5.2M).

In 2022, China imported $380M in Iron Reductions, mainly from Russia ($251M), United States ($69.5M), United Arab Emirates ($31.3M), Venezuela ($24.1M), and Iran ($1.74M).

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