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Iron or steel articles

73 (Harmonized System 1992 for 2-digit)

2023
World Trade $361BRnk 11 / 96
2023
Top Exporter | Top Importer $92.9B | $52.5BChina | United States
2023
Product Complexity 1.27Rnk 11 / 96
2022 - 2023
Export Growth (CAGR) -5.01%Rnk 47 / 96
2023
Share of World Trade 1.6%Rnk 11 / 96

About

Overview This page contains the latest trade data of Iron or steel articles. In 2023, Iron or steel articles were the world's 11th most traded product, with a total trade of $361B. Between 2022 and 2023 the exports of Iron or steel articles decreased by -5.01%, from $380B to $361B. Trade in Iron or steel articles represent 1.6% 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 Stranded Iron Wire, among others.

Exports In 2023 the top exporters of Iron or steel articles  were China ($92.9B), Germany ($34.3B), United States ($21.8B), Italy ($20.9B), and Japan ($11.9B).

Imports In 2023 the top importers of Iron or steel articles were United States ($52.5B), Germany ($27.4B), France ($14.2B), Mexico ($12.6B), and Canada ($12.5B).

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

Latest Trends

Latest Data

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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 (2023)China$92.9B
Top Destination (2023)United States$52.5B

In 2023 Iron or steel articles were the world's 11th most traded product (out of 96).

In 2023, the top exporters of Iron or steel articles were China ($92.9B), Germany ($34.3B), United States ($21.8B), Italy ($20.9B), and Japan ($11.9B).

In 2023, the top importers of Iron or steel articles were United States ($52.5B), Germany ($27.4B), France ($14.2B), Mexico ($12.6B), and Canada ($12.5B).

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Exporters of Iron or steel articles (2023)
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Importers of Iron or steel articles (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Germany$1.18B
Top Destination Growth (2022 -  2023)Saudi Arabia$1.4B

Between 2022 and 2023, the exports of Iron or steel articles grew the fastest in Germany ($1.18B), France ($494M), Spain ($385M), Brazil ($371M), and United Kingdom ($285M).

Between 2022 and 2023, the fastest growing importers of Iron or steel articles were Saudi Arabia ($1.4B), United Arab Emirates ($1.03B), Qatar ($823M), Kazakhstan ($707M), and Brazil ($512M).

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Exporters of Iron or steel articles (2022 - 2023)

Importers of Iron or steel articles (2022 - 2023)

Market Concentration

Value

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

In 2023, market concentration measured using Shannon Entropy, was 4.6. This means that most of the exports of Iron or steel articles are explained by 24 countries.

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Value of Exports in Iron or steel articles

Net Trade

TOP NET EXPORTER (2023)China$85B
TOP NET IMPORTER (2023)United States$30.7B

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 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Iron or steel articles were China ($85B), Italy ($12.5B), Germany ($6.89B), Turkey ($6.86B), and Chinese Taipei ($6.33B).

In 2023, the countries that had a largest trade value in imports than in exports of Iron or steel articles were United States ($30.7B), France ($5.97B), Canada ($5.68B), Australia ($5.3B), and Saudi Arabia ($4.7B).

Net Trade (2023)

Disaggregation

Value
Disaggregation

In 2023, the world most traded Iron or steel articles, disaggragated by their HS6 level were Other Iron Products ($63.4B), Iron Structures ($61.3B), Iron Fasteners ($48.5B), Iron Pipes ($32.7B), and Other Small Iron Pipes ($27B)

HS6 Disaggregation for Iron or steel articles (2023)
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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.

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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 (2023)

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