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Stainless steel in ingots or other primary forms; semi-finished products of stainless steel

7218 (Harmonized System 1992 for 4-digit)

2023
World Trade $5.29BRnk 523 / 1217
2023
Top Exporter | Top Importer $2.88B | $1.42BIndonesia | India
2023
Product Complexity 1.11Rnk 140 / 1044
2022 - 2023
Export Growth (CAGR) -26.1%Rnk 1122 / 1217
2023
Share of World Trade 0.023%Rnk 523 / 1217

About

Overview This page contains the latest trade data of Stainless Steel Ingots. In 2023, Stainless Steel Ingots were the world's 523rd most traded product, with a total trade of $5.29B. Between 2022 and 2023 the exports of Stainless Steel Ingots decreased by -26.1%, from $7.16B to $5.29B. Trade in Stainless Steel Ingots represent 0.023% of total world trade.

Stainless Steel Ingots are a part of Iron & steel. They include Semi-finished products, stainless steel and Ingots and other primary forms, stainless steel.

Exports In 2023 the top exporters of Stainless Steel Ingots  were Indonesia ($2.88B), United Kingdom ($759M), Sweden ($298M), Italy ($215M), and France ($152M).

Imports In 2023 the top importers of Stainless Steel Ingots were India ($1.42B), China ($1.25B), Belgium ($426M), Chinese Taipei ($420M), and Sweden ($372M).

Ranking Stainless Steel Ingots ranks 140th in the Product Complexity Index (PCI).

Description Stainless steel is a type of steel that contains at least 10% chromium. It's used in the production of things like stainless steel sinks, cookware, and other household items.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Stainless Steel Ingots. 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)Indonesia$2.88B
Top Destination (2023)India$1.42B

In 2023 Stainless Steel Ingots were the world's 523rd most traded product (out of 1,217).

In 2023, the top exporters of Stainless Steel Ingots were Indonesia ($2.88B), United Kingdom ($759M), Sweden ($298M), Italy ($215M), and France ($152M).

In 2023, the top importers of Stainless Steel Ingots were India ($1.42B), China ($1.25B), Belgium ($426M), Chinese Taipei ($420M), and Sweden ($372M).

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Exporters of Stainless Steel Ingots (2023)
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Importers of Stainless Steel Ingots (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)France$53.9M
Top Destination Growth (2022 -  2023)India$749M

Between 2022 and 2023, the exports of Stainless Steel Ingots grew the fastest in France ($53.9M), Netherlands ($25.7M), Canada ($13.5M), Finland ($10.1M), and Slovakia ($6.77M).

Between 2022 and 2023, the fastest growing importers of Stainless Steel Ingots were India ($749M), Belgium ($322M), Austria ($44M), Ukraine ($25.1M), and Romania ($13.4M).

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Exporters of Stainless Steel Ingots (2022 - 2023)

Importers of Stainless Steel Ingots (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Stainless Steel Ingots.

In 2023, market concentration measured using Shannon Entropy, was 2.69. This means that most of the exports of Stainless Steel Ingots are explained by 6 countries.

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Value of Exports in Stainless Steel Ingots

Net Trade

TOP NET EXPORTER (2023)Indonesia$2.86B
TOP NET IMPORTER (2023)India$1.36B

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

In 2023, the countries that had a largest trade value in exports than in imports of Stainless Steel Ingots were Indonesia ($2.86B), United Kingdom ($712M), Italy ($126M), South Korea ($78.2M), and Spain ($57.9M).

In 2023, the countries that had a largest trade value in imports than in exports of Stainless Steel Ingots were India ($1.36B), China ($1.21B), Chinese Taipei ($382M), Belgium ($350M), and United States ($239M).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Stainless Steel Ingots, disaggragated by their HS6 level were Semi-finished products, stainless steel ($4.89B) and Ingots and other primary forms, stainless... ($398M)

HS6 Disaggregation for Stainless Steel Ingots (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 Stainless Steel Ingots.
It is possible to select the main countries that export or import Stainless Steel Ingots in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Stainless Steel Ingots by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALSouth Korea+ $1.76M
TOP IMPORT POTENTIALSouth Korea+ $379k

Stainless Steel Ingots’s highest export potential is South Korea. With an export gap of $1.76M.  Stainless Steel Ingots’s highest import potential is South Korea with an import gap of $379k.

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 Stainless Steel Ingots.

Country by Relatedness

The following visualization shows the relatedness of Stainless Steel Ingots 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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