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Iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling

7214 (Harmonized System 1992 for 4-digit)

2023
World Trade $21BRnk 192 / 1217
2023
Top Exporter | Top Importer $2.16B | $2.3BTurkey | Hong Kong
2023
Product Complexity -1.22Rnk 915 / 1044
2022 - 2023
Export Growth (CAGR) -19.2%Rnk 1020 / 1217
2023
Share of World Trade 0.093%Rnk 192 / 1217

About

Overview This page contains the latest trade data of Raw Iron Bars. In 2023, Raw Iron Bars were the world's 192nd most traded product, with a total trade of $21B. Between 2022 and 2023 the exports of Raw Iron Bars decreased by -19.2%, from $26B to $21B. Trade in Raw Iron Bars represent 0.093% of total world trade.

Raw Iron Bars are a part of Iron & steel. They include Bar/rod, iron or non-alloy steel, indented or twisted, nes, Bar/rod, iron or non-alloy steel, hot formed <0.25%C, nes, Bar/rod, iron or non-alloy steel, forged, Bar/rod, iron or non-alloy steel, of free cutting steel, nes, Bar/rod, iron or non-alloy steel, hot formed 0.25-0.6%C, nes, and Bar/rod, iron or non-alloy steel, hot formed >0.6%C, nes.

Exports In 2023 the top exporters of Raw Iron Bars  were Turkey ($2.16B), Malaysia ($2.1B), China ($1.97B), Italy ($1.3B), and Germany ($881M).

Imports In 2023 the top importers of Raw Iron Bars were Hong Kong ($2.3B), United States ($1.21B), Germany ($1.07B), Singapore ($859M), and Canada ($665M).

Ranking Raw Iron Bars ranks 915th in the Product Complexity Index (PCI).

Description Bars and rods of iron or non-alloy steel are used in the production of other goods. They can be made from a variety of materials, including carbon steel, stainless steel, and nickel-chromium alloys.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Raw Iron Bars. 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)Turkey$2.16B
Top Destination (2023)Hong Kong$2.3B

In 2023 Raw Iron Bars were the world's 192nd most traded product (out of 1,217).

In 2023, the top exporters of Raw Iron Bars were Turkey ($2.16B), Malaysia ($2.1B), China ($1.97B), Italy ($1.3B), and Germany ($881M).

In 2023, the top importers of Raw Iron Bars were Hong Kong ($2.3B), United States ($1.21B), Germany ($1.07B), Singapore ($859M), and Canada ($665M).

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Exporters of Raw Iron Bars (2023)
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Importers of Raw Iron Bars (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)China$591M
Top Destination Growth (2022 -  2023)Singapore$269M

Between 2022 and 2023, the exports of Raw Iron Bars grew the fastest in China ($591M), Egypt ($357M), Malaysia ($255M), Oman ($190M), and Saudi Arabia ($168M).

Between 2022 and 2023, the fastest growing importers of Raw Iron Bars were Singapore ($269M), United Arab Emirates ($165M), Ethiopia ($163M), Hong Kong ($119M), and Guinea-Bissau ($78.7M).

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Exporters of Raw Iron Bars (2022 - 2023)

Importers of Raw Iron Bars (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Raw Iron Bars.

In 2023, market concentration measured using Shannon Entropy, was 5.24. This means that most of the exports of Raw Iron Bars are explained by 37 countries.

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Value of Exports in Raw Iron Bars

Net Trade

TOP NET EXPORTER (2023)Turkey$2.05B
TOP NET IMPORTER (2023)Hong Kong$2.29B

This map shows which countries export or import more of Raw Iron Bars. Each country is colored based on the difference in exports and imports of Raw Iron Bars during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Raw Iron Bars were Turkey ($2.05B), Malaysia ($2.02B), China ($1.9B), Italy ($991M), and Russia ($800M).

In 2023, the countries that had a largest trade value in imports than in exports of Raw Iron Bars were Hong Kong ($2.29B), Singapore ($803M), United States ($765M), Yemen ($456M), and Canada ($408M).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Raw Iron Bars, disaggragated by their HS6 level were Bar/rod, iron or non-alloy steel, indented... ($13.4B), Bar/rod, iron or non-alloy steel, hot... ($5.21B), Bar/rod, iron or non-alloy steel, forged ($2.14B), and Bar/rod, iron or non-alloy steel, of... ($274M)

HS6 Disaggregation for Raw Iron Bars (2023)
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Country Comparison

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Ranking

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

Top 10 Exporters Countries of Raw Iron Bars by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALIndonesia+ $7.36M
TOP IMPORT POTENTIALTurkey+ $4M

Raw Iron Bars’s highest export potential is Indonesia. With an export gap of $7.36M.  Raw Iron Bars’s highest import potential is Turkey with an import gap of $4M.

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 (2023)

Related Products

This visualization shows products that are likely to be exported by countries that export Raw Iron Bars.

Country by Relatedness

The following visualization shows the relatedness of Raw Iron Bars to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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