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HS chapter 72

Iron and steel

$448B traded in 2024 in 9,299 flows, sold by 220 nations and bought by 224: 2.0% of all goods trade, ranked 10 of 96.
Traded
$448B2024
Share of all trade
2.0%rank 10 of 96
Exporters
220nations
Importers
224nations

World trade by year, 1995 to 2024

In current US dollars, not adjusted for prices.

Largest exporters

In 2024, with each one's share of trade in the category.

NationValueShareSince 2000
China$70.7B
16%
Germany$29.9B
6.7%
Japan$28.9B
6.4%
Indonesia$25.9B
5.8%
South Korea$24.2B
5.4%
United States$18.9B
4.2%
France$14.7B
3.3%
Belgium$14.7B
3.3%
Italy$14.2B
3.2%
Russia$12.5B
2.8%
Brazil$12.2B
2.7%
Netherlands$11.5B
2.6%
India$11.1B
2.5%
Turkey$10.0B
2.2%
Canada$9.11B
2.0%
Taiwan$8.55B
1.9%
Spain$8.40B
1.9%
Austria$8.31B
1.9%
Vietnam$8.09B
1.8%
Sweden$7.54B
1.7%

Largest importers

In 2024, with each one's share of trade in the category.

NationValueShareSince 2000
United States$33.8B
7.5%
China$30.1B
6.7%
Germany$24.7B
5.5%
Turkey$23.3B
5.2%
Italy$21.1B
4.7%
India$17.0B
3.8%
Mexico$14.8B
3.3%
Vietnam$14.0B
3.1%
South Korea$13.9B
3.1%
France$12.1B
2.7%
Poland$11.8B
2.6%
Spain$11.0B
2.5%
Thailand$11.0B
2.5%
Netherlands$10.6B
2.4%
Indonesia$10.3B
2.3%
Taiwan$9.56B
2.1%
Belgium$9.32B
2.1%
Canada$8.35B
1.9%
Japan$7.79B
1.7%
Czech Republic$7.19B
1.6%

Largest flows

From one nation to another in 2024.

FromToValueShareSince 2000
IndonesiaChina$15.5B3.4%
CanadaUnited States$7.66B1.7%
ChinaVietnam$7.27B1.6%
United StatesMexico$7.02B1.6%
ChinaSouth Korea$5.61B1.3%
BrazilUnited States$5.34B1.2%
United StatesCanada$4.21B0.9%
JapanSouth Korea$4.11B0.9%
JapanThailand$3.82B0.9%
ChinaIndonesia$3.57B0.8%
ChinaThailand$3.52B0.8%
BelgiumFrance$3.32B0.7%
BelgiumGermany$3.31B0.7%
MexicoUnited States$3.25B0.7%
GermanyPoland$3.15B0.7%
ChinaUnited Arab Emirates$3.09B0.7%
ChinaTurkey$3.06B0.7%
FranceGermany$3.04B0.7%
JapanChina$2.97B0.7%
South KoreaJapan$2.96B0.7%

Largest products

The six-digit codes of the Harmonized System within the chapter, by world trade in 2024.

CodeProductValueShareSince 2000
720449Ferrous waste and scrap: n.e.s. in heading no. 7204$28.6B6.4%
721049Iron or non-alloy steel: flat-rolled, width 600mm or more, (not corrugated), plated or coated with zinc (not electrolytically)$26.2B5.8%
720824Iron or non-alloy steel: in coils, flat-rolled, width 600mm or more, hot-rolled, less than 3mm thick, excluding minimum yield point of 275MPa$23.3B5.2%
720260Ferro-alloys: ferro-nickel$15.9B3.6%
720842Iron or non-alloy steel: not in coils, flat-rolled, hot-rolled, thickness exceeding 10mm, excluding minimum yield point of 355MPa$14.4B3.2%
720712Iron or non-alloy steel: semi-finished products of iron or non-alloy steel: containing by weight less than 0.25% of carbon, of rectangular (other than square) cross-section$13.7B3.1%
721070Iron or non-alloy steel: flat-rolled, width 600mm or more, painted, varnished or coated with plastics$13.4B3.0%
721420Iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling$12.1B2.7%
722590Steel, alloy: flat-rolled, width 600mm or more, n.e.s. in heading no. 7225$12.1B2.7%
720823Iron or non-alloy steel: in coils, flat-rolled, width 600mm or more, hot-rolled, thickness of 3mm or more but less than 4.75mm, other than minimum yield point of 355MPa$11.8B2.6%

Shares are of all trade in this category. The line is each figure’s history from 2000, drawn to its own peak: it shows the shape of the years, and the value shows the size.

See it in the explorer