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Wire of other alloy steel

7229 (Harmonized System 1992 for 4-digit)

2023
World Trade $2.86BRnk 677 / 1217
2023
Top Exporter | Top Importer $557M | $286MChina | Germany
2023
Product Complexity 1.01Rnk 181 / 1044
2022 - 2023
Export Growth (CAGR) -14.9%Rnk 901 / 1217
2023
Share of World Trade 0.013%Rnk 677 / 1217

About

Overview This page contains the latest trade data of Steel Wire. In 2023, Steel Wire were the world's 677th most traded product, with a total trade of $2.86B. Between 2022 and 2023 the exports of Steel Wire decreased by -14.9%, from $3.36B to $2.86B. Trade in Steel Wire represent 0.013% of total world trade.

Steel Wire are a part of Iron & steel. They include Wire of alloy steel nes, Wire of silico-manganese steel, and Wire of high speed steel.

Exports In 2023 the top exporters of Steel Wire  were China ($557M), Japan ($281M), Czechia ($233M), Italy ($228M), and South Korea ($227M).

Imports In 2023 the top importers of Steel Wire were Germany ($286M), United States ($268M), Poland ($188M), China ($121M), and Italy ($117M).

Ranking Steel Wire ranks 181st in the Product Complexity Index (PCI).

Description Wire of alloy steel other than stainless is used in the production of other goods. It can be made from a variety of materials, including iron, chromium, nickel, and molybdenum.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Steel Wire. 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$557M
Top Destination (2023)Germany$286M

In 2023 Steel Wire were the world's 677th most traded product (out of 1,217).

In 2023, the top exporters of Steel Wire were China ($557M), Japan ($281M), Czechia ($233M), Italy ($228M), and South Korea ($227M).

In 2023, the top importers of Steel Wire were Germany ($286M), United States ($268M), Poland ($188M), China ($121M), and Italy ($117M).

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Exporters of Steel Wire (2023)
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Importers of Steel Wire (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Czechia$64.7M
Top Destination Growth (2022 -  2023)Italy$21.1M

Between 2022 and 2023, the exports of Steel Wire grew the fastest in Czechia ($64.7M), Saudi Arabia ($7.42M), Indonesia ($4.97M), Philippines ($4.03M), and Malaysia ($3.45M).

Between 2022 and 2023, the fastest growing importers of Steel Wire were Italy ($21.1M), South Korea ($13.8M), Malaysia ($10.9M), Turkey ($9.22M), and United Arab Emirates ($8.45M).

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Exporters of Steel Wire (2022 - 2023)

Importers of Steel Wire (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Steel Wire.

In 2023, market concentration measured using Shannon Entropy, was 4.23. This means that most of the exports of Steel Wire are explained by 18 countries.

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Value of Exports in Steel Wire

Net Trade

TOP NET EXPORTER (2023)China$436M
TOP NET IMPORTER (2023)United States$191M

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

In 2023, the countries that had a largest trade value in exports than in imports of Steel Wire were China ($436M), Japan ($171M), South Korea ($171M), Czechia ($164M), and Italy ($111M).

In 2023, the countries that had a largest trade value in imports than in exports of Steel Wire were United States ($191M), Poland ($172M), Germany ($75.3M), India ($74.6M), and Brazil ($72.6M).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Steel Wire, disaggragated by their HS6 level were Wire of alloy steel nes ($1.92B) and Wire of silico-manganese steel ($943M)

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

Top 10 Exporters Countries of Steel Wire by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALIndia+ $15M
TOP IMPORT POTENTIALSouth Korea+ $5.37M

Steel Wire’s highest export potential is India. With an export gap of $15M.  Steel Wire’s highest import potential is South Korea with an import gap of $5.37M.

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 Steel Wire.

Country by Relatedness

The following visualization shows the relatedness of Steel Wire 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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