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2022
Exports $565MWorld Rnk 4 / 89
Flag Rnk 361 / 1217
2022
Destination $102M Mexico
2021 - 2022
FASTEST GROWING MARKET $102MVietnam
2022
PRODUCT COMPLEXITY IN Iron Reductions-1.54Rnk 951 / 1025
2022
Imports $885MWorld Rnk 1 / 144
Flag Rnk 424 / 1216
2022
Origin $54.2M Trinidad and Tobago
2021 - 2022
FASTEST GROWING ORIGIN $54.2MTrinidad and Tobago
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $565M in Iron Reductions, making it the 4th largest exporter of Iron Reductions in the world. At the same year, Iron Reductions was the 361st most exported product in United States. The main destination of Iron Reductions exports from United States are: Mexico ($122M), Austria ($111M), Vietnam ($102M), China ($69.5M), and Turkey ($55.6M).

The fastest growing export markets for Iron Reductions of United States between 2021 and 2022 were Vietnam ($102M), China ($47.1M), and Turkey ($46.1M).

Imports In 2022, United States imported $885M in Iron Reductions, becoming the 1st largest importer of Iron Reductions in the world. At the same year, Iron Reductions was the 424th most imported product in United States. United States imports Iron Reductions primarily from: Trinidad and Tobago ($851M), Malaysia ($26.3M), Sweden ($2.11M), India ($1.56M), and Japan ($1.35M).

The fastest growing import markets in Iron Reductions for United States between 2021 and 2022 were Trinidad and Tobago ($54.2M), Malaysia ($26.3M), and Japan ($889k).

COMPANIES In 2023, leading companies such as Electrolux (6), Goodyear Tire and Rubber (3), and ABB Motors and Mechanical (3) were at the forefront of shipping Iron Reductions to the United States.

Latest Trends

September 2024

About

Overview In September 2024 United States' Iron Reductions exports accounted up to $11.6M and imports accounted up to $53.2M, resulting in a negative trade balance of $41.6M. Between September 2023 and September 2024 the exports of United States'   Iron Reductions have decreased by $-13.7M (-54.1%) from $25.3M to $11.6M, while imports increased by $11.9M (28.7%) from $41.4M to $53.2M.

Destinations In September 2024, Iron Reductions were exported mostly to Mexico ($11.5M), Canada ($94.5k), Bahamas ($11.1k), Trinidad and Tobago ($7.58k), and Jamaica ($7.4k), and were imported mostly from Trinidad and Tobago ($52.4M), Japan ($679k), India ($125k), Spain ($23k), and Germany ($15k).

Growth In September 2024, the decrease in Iron Reductions's year-by-year exports was explained primarily by a decrease in exports to South Korea ($-4.32k or -7.14%). In September 2024, the increase in Iron Reductions's year-by-year imports was explained primarily by an increase in imports from .

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$-13.7M(-54.1%)
IMPORT GROWTH (September 2023 - September 2024)$11.9M(28.7%)
MAIN EXPORTER (September 2024)Texas$61.5M
MAIN DESTINATION (September 2024)Mexico$11.5M

This section shows Iron Reductions'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 Reductions over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$565M
IMPORTS (2022)$885M
NET TRADE (2022)-$321M

In 2022, United States exported $565M in Iron Reductions. The main destinations of United States exports on Iron Reductions were Mexico ($122M), Austria ($111M), Vietnam ($102M), China ($69.5M), and Turkey ($55.6M).

In 2022, United States imported $885M in Iron Reductions, mainly from Trinidad and Tobago ($851M), Malaysia ($26.3M), Sweden ($2.11M), India ($1.56M), and Japan ($1.35M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron Reductions EXPORT MARKETS FOR United States WERE (2021 - 2022):
Vietnam$102M (18.9k%)
China$47.1M (209%)
Turkey$46.1M (487%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Reductions BY United States WERE (2021 - 2022):
Austria-$56.8M (-33.9%)
Spain-$22.2M (-67.7%)
Portugal-$14.3M (-45.1%)
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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 Reductions were:
Russia $1.26B
Trinidad and Tobago $872M
Qatar $625M
In 2022, United States's main importing competitors in Iron Reductions were:
Kuwait $767M
Italy $415M

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Trade Value of Iron Reductions by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $5.06M
TOP IMPORT POTENTIALMalaysia+ $7.03M

Iron Reductions’s highest export potential is Germany. With an export gap of $5.06M.   Iron Reductions’s highest import potential is Malaysia with an import gap of $7.03M.

See methodology.

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