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721410 (Harmonized System 1992 for 6-digit)

2022
World Trade $1.67BRnk 1660 / 4648
2022
Top Exporter | Top Importer $1.03B | $720MMalaysia | Hong Kong
2022
Product Complexity -1.46Rnk 4240 / 4653
2021 - 2022
Export Growth (CAGR) 201%Rnk 30 / 4648
2022
Share of World Trade 0.0071%Rnk 1660 / 4648

About

Overview This page contains the latest trade data of Bar/rod, iron or non-alloy steel, forged. In 2022, Bar/rod, iron or non-alloy steel, forged were the world's 1660th most traded product, with a total trade of $1.67B. Between 2021 and 2022 the exports of Bar/rod, iron or non-alloy steel, forged grew by 201%, from $557M to $1.67B. Trade in Bar/rod, iron or non-alloy steel, forged represent 0.0071% of total world trade.

Bar/rod, iron or non-alloy steel, forged are a part of Raw Iron Bars.

Exports In 2022 the top exporters of Bar/rod, iron or non-alloy steel, forged  were Malaysia ($1.03B), China ($138M), United Arab Emirates ($101M), India ($53.7M), and Germany ($39.6M).

Imports In 2022 the top importers of Bar/rod, iron or non-alloy steel, forged were Hong Kong ($720M), Singapore ($238M), Kuwait ($85.2M), Belgium ($69.8M), and Italy ($47.7M).

Ranking Bar/rod, iron or non-alloy steel, forged ranks 4240th in the Product Complexity Index (PCI).

Description The common uses of bar/rod, iron or non-alloy steel, forged are for construction and manufacturing.

Latest Trends

Latest Data

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Flow
Y-AXIS SCALE

The following visualization shows the latest trends on Bar/rod, iron or non-alloy steel, forged. Countries are shown based on data availability.

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

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2022)Malaysia$1.03B
Top Destination (2022)Hong Kong$720M

In 2022 Bar/rod, iron or non-alloy steel, forged were the world's 1660th most traded product (out of 4,648).

In 2022, the top exporters of Bar/rod, iron or non-alloy steel, forged were Malaysia ($1.03B), China ($138M), United Arab Emirates ($101M), India ($53.7M), and Germany ($39.6M).

In 2022, the top importers of Bar/rod, iron or non-alloy steel, forged were Hong Kong ($720M), Singapore ($238M), Kuwait ($85.2M), Belgium ($69.8M), and Italy ($47.7M).

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Exporters of Bar/rod, iron or non-alloy steel, forged (2022)
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Importers of Bar/rod, iron or non-alloy steel, forged (2022)
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Market Dynamics

Color
Top Origin Growth (2021 -  2022)Malaysia$1.02B
Top Destination Growth (2021 -  2022)Hong Kong$651M

Between 2021 and 2022, the exports of Bar/rod, iron or non-alloy steel, forged grew the fastest in Malaysia ($1.02B), United Arab Emirates ($88.1M), China ($48.5M), India ($32.7M), and Burkina Faso ($14M).

Between 2021 and 2022, the fastest growing importers of Bar/rod, iron or non-alloy steel, forged were Hong Kong ($651M), Singapore ($213M), Kuwait ($85.1M), Burma ($40.4M), and Italy ($37.2M).

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Exporters of Bar/rod, iron or non-alloy steel, forged (2021 - 2022)

Importers of Bar/rod, iron or non-alloy steel, forged (2021 - 2022)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Bar/rod, iron or non-alloy steel, forged.

In 2022, market concentration measured using Shannon Entropy, was 2.62. This means that most of the exports of Bar/rod, iron or non-alloy steel, forged are explained by 6 countries.

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Value of Exports in Bar/rod, iron or non-alloy steel, forged

Net Trade

TOP NET EXPORTER (2022)Malaysia$1.02B
TOP NET IMPORTER (2022)Hong Kong$720M

This map shows which countries export or import more of Bar/rod, iron or non-alloy steel, forged. Each country is colored based on the difference in exports and imports of Bar/rod, iron or non-alloy steel, forged during 2022.

In 2022, the countries that had a largest trade value in exports than in imports of Bar/rod, iron or non-alloy steel, forged were Malaysia ($1.02B), China ($127M), United Arab Emirates ($96.9M), India ($51.8M), and Russia ($25.5M).

In 2022, the countries that had a largest trade value in imports than in exports of Bar/rod, iron or non-alloy steel, forged were Hong Kong ($720M), Singapore ($234M), Kuwait ($83.8M), Belgium ($42.6M), and United Kingdom ($39.5M).

Net Trade (2022)

Country Comparison

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Measure
Ranking

This visualization shows the countries that have an important ratio of their trade related to Bar/rod, iron or non-alloy steel, forged.
It is possible to select the main countries that export or import Bar/rod, iron or non-alloy steel, forged in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Bar/rod, iron or non-alloy steel, forged by percentage of total exports

Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2022)

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