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2023
Exports $759MWorld Rnk 2 / 103
Flag Rnk 92 / 1216
2023
Destination $261M Sweden
2022 - 2023
FASTEST GROWING MARKET $261MBelgium
2023
PRODUCT COMPLEXITY IN Stainless Steel Ingots1.04Rnk 163 / 1025
2023
Imports $46.7MWorld Rnk 14 / 173
Flag Rnk 751 / 1214
2023
Origin $3.85M Sweden
2022 - 2023
FASTEST GROWING ORIGIN $3.85MCanada
2023
ECONOMIC COMPLEXITY of United Kingdom1.5Rnk 11 / 132

About

Exports In 2023, United Kingdom exported $759M in Stainless Steel Ingots, making it the 2nd largest exporter of Stainless Steel Ingots in the world. At the same year, Stainless Steel Ingots was the 92nd most exported product in United Kingdom. The main destination of Stainless Steel Ingots exports from United Kingdom are: Sweden ($324M), Belgium ($261M), United States ($64.7M), Spain ($32.4M), and Portugal ($23.1M).

The fastest growing export markets for Stainless Steel Ingots of United Kingdom between 2022 and 2023 were Belgium ($261M), Austria ($4.26M), and Norway ($1.01M).

Imports In 2023, United Kingdom imported $46.7M in Stainless Steel Ingots, becoming the 14th largest importer of Stainless Steel Ingots in the world. At the same year, Stainless Steel Ingots was the 751st most imported product in United Kingdom. United Kingdom imports Stainless Steel Ingots primarily from: Sweden ($16.8M), Italy ($5.2M), United States ($4.78M), Canada ($4.02M), and Spain ($3.04M).

The fastest growing import markets in Stainless Steel Ingots for United Kingdom between 2022 and 2023 were Canada ($3.85M), Germany ($2.21M), and Italy ($1.81M).

Latest Trends

December 2024

About

Overview In December 2024 United Kingdom's Stainless Steel Ingots exports accounted up to £39.6M and imports accounted up to £4.77M, resulting in a positive trade balance of £34.8M. Between December 2023 and December 2024 the exports of United Kingdom's   Stainless Steel Ingots have decreased by £-5.94M (-13%) from £45.5M to £39.6M, while imports increased by £2.18M (84.2%) from £2.59M to £4.77M.

Destinations In December 2024, Stainless Steel Ingots were exported mostly to Belgium (£19.3M), Sweden (£8.37M), United States (£4.52M), Italy (£2.24M), and Portugal (£1.96M), and were imported mostly from Sweden (£2.01M), Italy (£1.26M), Spain (£970k), China (£134k), and Chinese Taipei (£105k).

Growth In December 2024, the decrease in Stainless Steel Ingots's year-by-year exports was explained primarily by a decrease in exports to Sweden (£-10.5M or -38.2%), United States (£-2.98M or -41.4%), and Spain (£-2.47M or -80.9%). In December 2024, the increase in Stainless Steel Ingots's year-by-year imports was explained primarily by an increase in imports from Italy (£1.6M or 586%), United States (£895k or 395%), and Germany (£489k or 556%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)£-5.94M(-13%)
IMPORT GROWTH (December 2023 - December 2024)£2.18M(84.2%)
MAIN EXPORTER (December 2024)
MAIN DESTINATION (December 2024)Belgium£19.3M

This section shows Stainless Steel Ingots's exports and imports data at subnational level for United Kingdom. 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 Stainless Steel Ingots over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$759M
IMPORTS (2023)$46.7M
NET TRADE (2023)$712M

In 2023, United Kingdom exported $759M in Stainless Steel Ingots. The main destinations of United Kingdom exports on Stainless Steel Ingots were Sweden ($324M), Belgium ($261M), United States ($64.7M), Spain ($32.4M), and Portugal ($23.1M).

In 2023, United Kingdom imported $46.7M in Stainless Steel Ingots, mainly from Sweden ($16.8M), Italy ($5.2M), United States ($4.78M), Canada ($4.02M), and Spain ($3.04M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Stainless Steel Ingots EXPORT MARKETS FOR United Kingdom WERE (2022 - 2023):
Belgium$261M (145k%)
Austria$4.26M (131%)
Norway$1.01M (52%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Stainless Steel Ingots BY United Kingdom WERE (2022 - 2023):
Sweden-$185M (-36.4%)
Portugal-$42.2M (-64.7%)
United States-$35.6M (-35.5%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, United Kingdom's main exporting competitors in Stainless Steel Ingots were:
Indonesia $2.88B
Sweden $298M
In 2023, United Kingdom's main importing competitors in Stainless Steel Ingots were:
India $1.42B
China $1.25B
Belgium $426M

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Trade Value of Stainless Steel Ingots by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $19.8M
TOP IMPORT POTENTIALItaly+ $1.23M

Stainless Steel Ingots’s highest export potential is China. With an export gap of $19.8M.   Stainless Steel Ingots’s highest import potential is Italy with an import gap of $1.23M.

See methodology.

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