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73 (Harmonized System 1992 for 2-digit)

2022
World Trade $393BRnk 11 / 96
2022
Top Exporter | Top Importer $109B | $59.3BChina | United States
2022
Product Complexity 1.22Rnk 11 / 96
2021 - 2022
Export Growth (CAGR) 10.6%Rnk 31 / 96
2022
Share of World Trade 1.66%Rnk 11 / 96

About

Overview This page contains the latest trade data of Iron or steel articles. In 2022, Iron or steel articles were the world's 11th most traded product, with a total trade of $393B. Between 2021 and 2022 the exports of Iron or steel articles grew by 10.6%, from $355B to $393B. Trade in Iron or steel articles represent 1.66% of total world trade.

Iron or steel articles are a part of Metals. They include Other Iron Products, Iron Structures, Iron Fasteners, Iron Pipes, Other Small Iron Pipes, Iron Pipe Fittings, Iron Housewares, Other Large Iron Pipes, Iron Stovetops, and Other Cast Iron Products, among others.

Exports In 2022 the top exporters of Iron or steel articles  were China ($109B), Germany ($33.5B), Italy ($22.2B), United States ($21.8B), and South Korea ($11.8B).

Imports In 2022 the top importers of Iron or steel articles were United States ($59.3B), Germany ($32.6B), France ($16.2B), Canada ($14.2B), and Mexico ($12B).

Ranking Iron or steel articles ranks 11th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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Flow
Y-AXIS SCALE

The following visualization shows the latest trends on Iron or steel articles. 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)China$109B
Top Destination (2022)United States$59.3B

In 2022 Iron or steel articles were the world's 11th most traded product (out of 96).

In 2022, the top exporters of Iron or steel articles were China ($109B), Germany ($33.5B), Italy ($22.2B), United States ($21.8B), and South Korea ($11.8B).

In 2022, the top importers of Iron or steel articles were United States ($59.3B), Germany ($32.6B), France ($16.2B), Canada ($14.2B), and Mexico ($12B).

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Exporters of Iron or steel articles (2022)
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Importers of Iron or steel articles (2022)
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Market Dynamics

Color
Top Origin Growth (2021 -  2022)China$15.4B
Top Destination Growth (2021 -  2022)United States$10.8B

Between 2021 and 2022, the exports of Iron or steel articles grew the fastest in China ($15.4B), United States ($2.79B), India ($1.99B), Turkey ($1.79B), and South Korea ($1.69B).

Between 2021 and 2022, the fastest growing importers of Iron or steel articles were United States ($10.8B), Canada ($2.6B), Germany ($2.45B), Mexico ($1.93B), and Indonesia ($1.41B).

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Exporters of Iron or steel articles (2021 - 2022)

Importers of Iron or steel articles (2021 - 2022)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Iron or steel articles.

In 2022, market concentration measured using Shannon Entropy, was 4.55. This means that most of the exports of Iron or steel articles are explained by 23 countries.

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Value of Exports in Iron or steel articles

Net Trade

TOP NET EXPORTER (2022)China$101B
TOP NET IMPORTER (2022)United States$37.6B

This map shows which countries export or import more of Iron or steel articles. Each country is colored based on the difference in exports and imports of Iron or steel articles during 2022.

In 2022, the countries that had a largest trade value in exports than in imports of Iron or steel articles were China ($101B), Italy ($13.7B), Chinese Taipei ($8.15B), Turkey ($7.19B), and South Korea ($4.93B).

In 2022, the countries that had a largest trade value in imports than in exports of Iron or steel articles were United States ($37.6B), France ($7.87B), Canada ($7.22B), Australia ($5.85B), and United Kingdom ($4.91B).

Net Trade (2022)

Disaggregation

Value
Disaggregation

In 2022, the world most traded Iron or steel articles, disaggragated by their HS6 level were Other Iron Products ($69.9B), Iron Structures ($66.7B), Iron Fasteners ($51.7B), Other Small Iron Pipes ($33.5B), and Iron Pipes ($30.2B)

HS6 Disaggregation for Iron or steel articles (2022)
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Country Comparison

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Measure
Ranking

This visualization shows the countries that have an important ratio of their trade related to Iron or steel articles.
It is possible to select the main countries that export or import Iron or steel articles in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Iron or steel articles by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALIndia+ $1.57B
TOP IMPORT POTENTIALGermany+ $301M

Iron or steel articles’s highest export potential is India. With an export gap of $1.57B.  Iron or steel articles’s highest import potential is Germany with an import gap of $301M.

See methodology.

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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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