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Iron or non-alloy steel, primary nes, <99.94% iron

720690 (Harmonized System 1992 for 6-digit)

2023
World Trade $407MRnk 3051 / 4644
2023
Top Exporter | Top Importer $229M | $235MIndia | Italy
2023
Product Complexity -0.98Rnk 3787 / 4656
2022 - 2023
Export Growth (CAGR) -4.42%Rnk 2034 / 4644
2023
Share of World Trade 0.0018%Rnk 3051 / 4644

About

Overview This page contains the latest trade data of Iron or non-alloy steel, primary nes, <99.94% iron. In 2023, Iron or non-alloy steel, primary nes, <99.94% iron were the world's 3051st most traded product, with a total trade of $407M. Between 2022 and 2023 the exports of Iron or non-alloy steel, primary nes, <99.94% iron decreased by -4.42%, from $426M to $407M. Trade in Iron or non-alloy steel, primary nes, <99.94% iron represent 0.0018% of total world trade.

Iron or non-alloy steel, primary nes, <99.94% iron are a part of Iron Ingots.

Exports In 2023 the top exporters of Iron or non-alloy steel, primary nes, <99.94% iron  were India ($229M), Belgium ($26M), China ($23.2M), Germany ($16.4M), and Italy ($16.3M).

Imports In 2023 the top importers of Iron or non-alloy steel, primary nes, <99.94% iron were Italy ($235M), Netherlands ($23.5M), Latvia ($22.4M), Germany ($20.4M), and Spain ($16.2M).

Ranking Iron or non-alloy steel, primary nes, <99.94% iron ranks 3787th in the Product Complexity Index (PCI).

Description Iron or non-alloy steel is a metal alloy that contains at least 99.94% iron. It is used in various applications, including: pipes and tubes, automotive, construction, and machinery.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Iron or non-alloy steel, primary nes, <99.94% iron. 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 (2023)India$229M
Top Destination (2023)Italy$235M

In 2023 Iron or non-alloy steel, primary nes, <99.94% iron were the world's 3051st most traded product (out of 4,644).

In 2023, the top exporters of Iron or non-alloy steel, primary nes, <99.94% iron were India ($229M), Belgium ($26M), China ($23.2M), Germany ($16.4M), and Italy ($16.3M).

In 2023, the top importers of Iron or non-alloy steel, primary nes, <99.94% iron were Italy ($235M), Netherlands ($23.5M), Latvia ($22.4M), Germany ($20.4M), and Spain ($16.2M).

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Exporters of Iron or non-alloy steel, primary nes, <99.94% iron (2023)
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Importers of Iron or non-alloy steel, primary nes, <99.94% iron (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)India$40.9M
Top Destination Growth (2022 -  2023)Italy$50.7M

Between 2022 and 2023, the exports of Iron or non-alloy steel, primary nes, <99.94% iron grew the fastest in India ($40.9M), Austria ($6.32M), Slovenia ($5.82M), Libya ($5.02M), and Italy ($4.28M).

Between 2022 and 2023, the fastest growing importers of Iron or non-alloy steel, primary nes, <99.94% iron were Italy ($50.7M), Netherlands ($8.2M), Egypt ($6.13M), Philippines ($2.8M), and Tunisia ($2.13M).

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Exporters of Iron or non-alloy steel, primary nes, <99.94% iron (2022 - 2023)

Importers of Iron or non-alloy steel, primary nes, <99.94% iron (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Iron or non-alloy steel, primary nes, <99.94% iron.

In 2023, market concentration measured using Shannon Entropy, was 2.97. This means that most of the exports of Iron or non-alloy steel, primary nes, <99.94% iron are explained by 7 countries.

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Value of Exports in Iron or non-alloy steel, primary nes, <99.94% iron

Net Trade

TOP NET EXPORTER (2023)India$225M
TOP NET IMPORTER (2023)Italy$218M

This map shows which countries export or import more of Iron or non-alloy steel, primary nes, <99.94% iron. Each country is colored based on the difference in exports and imports of Iron or non-alloy steel, primary nes, <99.94% iron during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Iron or non-alloy steel, primary nes, <99.94% iron were India ($225M), Belgium ($23M), China ($22.8M), Sweden ($6.46M), and Libya ($5.05M).

In 2023, the countries that had a largest trade value in imports than in exports of Iron or non-alloy steel, primary nes, <99.94% iron were Italy ($218M), Latvia ($20.3M), Netherlands ($20M), Spain ($10.6M), and Egypt ($6.39M).

Net Trade (2023)

Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Iron or non-alloy steel, primary nes, <99.94% iron.
It is possible to select the main countries that export or import Iron or non-alloy steel, primary nes, <99.94% iron in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Iron or non-alloy steel, primary nes, <99.94% iron 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 (2023)

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