UN Comtrade • Latest complete year: 2024
72 - Iron and steel (HS 72)
Global exports
$402.02B
Global imports
$414.46B
Top exporter share
17.6%
Top importer share
8.0%
- In 2024, global exports of Iron and steel totaled $402.0B, with imports reaching $414.5B.
- The leading exporter, China, shipped $70.7B worth of goods, representing 17.6% of the global total.
- The United States was the largest importer, with purchases amounting to $33.0B, or 8.0% of the world's imports.
- Germany stood as the second-largest exporter, with shipments valued at $29.8B (7.4% share).
- The top five exporting nations collectively accounted for 44.4% of all iron and steel exports.
Global Trade Dynamics for Iron and Steel
In 2024, the international market for Iron and steel (HS2 72) recorded total exports of $402.0B and imports of $414.5B. The export market is significantly concentrated, with a few key economies dominating the supply. The leading nations play a crucial role in the global supply chain for this essential industrial commodity.
See also: ChinaUnited States
Top Trading Nations
China is the dominant force in the export market, with $70.7B in shipments, which constitutes 17.6% of the global total. Following China are other major exporters like Germany ($29.8B) and Japan ($27.4B). On the import side, the United States is the primary destination, absorbing $33.0B of iron and steel. Other significant importers include China ($31.9B) and Germany ($27.1B), underscoring their central roles in both sides of the trade.
Quick insights
- China is the top exporter (17.6% of reported exports).
- USA is the top importer (8.0% of reported imports).
- Top 3 exporter concentration: 31.8%.
- Top 5 exporter concentration: 44.4%.
Notes: Shares are relative to reported totals in the dataset for the selected year.
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Iron and steel - product groups (4-digit) by top countries (Exports), 2024 (USD)
Top 10 countries with the leading 6 product groups (4-digit); remainder grouped as Other.
Flow: Exports | Year: 2024 | Unit: USD | Snapshot: 20251222 | Source: UN Comtrade
Generated by TradeVedia.comSource: UN Comtrade
Iron and steel - country rank by trade value (Exports), 2015-2024 (USD)
Ranks show the top 10 countries by latest-year value (rank 1 is largest).
Flow: Exports | Years: 2015-2024 | Unit: USD | Snapshot: 20251222 | Source: UN Comtrade
Generated by TradeVedia.comSource: UN Comtrade
Global export trend
Iron and steel - exports over time (Exports), 2015-2024 (USD)
Annual reported exports across available years.
Flow: Exports | Years: 2015-2024 | Unit: USD | Source: UN Comtrade
Generated by TradeVedia.comSource: UN Comtrade
HS4 drilldown
Built: 2026-01-12T08:07:48Z • Snapshot: 20251222
HS4 subcategories within HS 72 for 2024 (partner = World). Values are summed across reporting economies; coverage varies by reporter and year.
Exports
Coverage vs HS2: 99.3%
Iron and steel - top 4-digit product groups by export share (Exports), 2024 (USD)
Leading 4-digit product groups by export value.
Flow: Exports | Year: 2024 | Unit: USD | Snapshot: 20251222 | Source: UN Comtrade
Generated by TradeVedia.comSource: UN Comtrade
| HS4 | Subcategory | Value | Share |
|---|---|---|---|
| 7208 | Iron or non-alloy steel; flat-r… | $61.43B | 15.3% |
| 7210 | Iron or non-alloy steel; flat-r… | $52.83B | 13.1% |
| 7204 | Ferrous waste and scrap; remelt… | $39.45B | 9.8% |
| 7202 | Ferro-alloys | $39.18B | 9.7% |
| 7225 | Alloy steel flat-rolled product… | $32.04B | 8.0% |
| 7219 | Stainless steel; flat-rolled pr… | $29.62B | 7.4% |
| 7207 | Iron or non-alloy steel; semi-f… | $18.18B | 4.5% |
| 7214 | Iron or non-alloy steel; bars a… | $16.04B | 4.0% |
| 7216 | Iron or non-alloy steel, angles… | $15.26B | 3.8% |
| 7209 | Iron or non-alloy steel; flat-r… | $13.55B | 3.4% |
| 7213 | Iron or non-alloy steel; bars a… | $11.56B | 2.9% |
| 7228 | Alloy steel bars, rods, shapes… | $10.81B | 2.7% |
Subcategory names are truncated; hover to see the full description.
Fastest-growing HS4 (CAGR 2019–2024)
Filter: start-year value ≥ $1.00M
| HS4 | Subcategory | CAGR | 2024 value |
|---|---|---|---|
| 7218 | Stainless steel in ingots or ot… | 19.6% | $4.52B |
| 7202 | Ferro-alloys | 8.1% | $39.18B |
| 7208 | Iron or non-alloy steel; flat-r… | 6.8% | $61.43B |
| 7226 | Alloy steel flat-rolled product… | 5.4% | $4.09B |
| 7212 | Iron or non-alloy steel; flat-r… | 4.0% | $4.95B |
| 7216 | Iron or non-alloy steel, angles… | 3.5% | $15.26B |
| 7222 | Stainless steel bars and rods,… | 3.2% | $6.74B |
| 7204 | Ferrous waste and scrap; remelt… | 3.0% | $39.45B |
Imports
Coverage vs HS2: 97.8%
Iron and steel - top 4-digit product groups by import share (Imports), 2024 (USD)
Leading 4-digit product groups by import value.
Flow: Imports | Year: 2024 | Unit: USD | Snapshot: 20251222 | Source: UN Comtrade
Generated by TradeVedia.comSource: UN Comtrade
| HS4 | Subcategory | Value | Share |
|---|---|---|---|
| 7208 | Iron or non-alloy steel; flat-r… | $56.56B | 13.6% |
| 7210 | Iron or non-alloy steel; flat-r… | $54.27B | 13.1% |
| 7202 | Ferro-alloys | $40.70B | 9.8% |
| 7204 | Ferrous waste and scrap; remelt… | $38.09B | 9.2% |
| 7225 | Alloy steel flat-rolled product… | $30.43B | 7.3% |
| 7219 | Stainless steel; flat-rolled pr… | $27.36B | 6.6% |
| 7207 | Iron or non-alloy steel; semi-f… | $25.86B | 6.2% |
| 7209 | Iron or non-alloy steel; flat-r… | $15.22B | 3.7% |
| 7214 | Iron or non-alloy steel; bars a… | $15.12B | 3.6% |
| 7216 | Iron or non-alloy steel, angles… | $14.88B | 3.6% |
| 7213 | Iron or non-alloy steel; bars a… | $12.09B | 2.9% |
| 7228 | Alloy steel bars, rods, shapes… | $11.14B | 2.7% |
Subcategory names are truncated; hover to see the full description.
Fastest-growing HS4 (CAGR 2019–2024)
Filter: start-year value ≥ $1.00M
| HS4 | Subcategory | CAGR | 2024 value |
|---|---|---|---|
| 7218 | Stainless steel in ingots or ot… | 15.8% | $3.89B |
| 7202 | Ferro-alloys | 7.1% | $40.70B |
| 7226 | Alloy steel flat-rolled product… | 4.3% | $3.99B |
| 7224 | Alloy steel in ingots or other… | 3.5% | $4.09B |
| 7212 | Iron or non-alloy steel; flat-r… | 3.2% | $4.90B |
| 7210 | Iron or non-alloy steel; flat-r… | 3.2% | $54.27B |
| 7204 | Ferrous waste and scrap; remelt… | 2.7% | $38.09B |
| 7216 | Iron or non-alloy steel, angles… | 2.5% | $14.88B |
Explore country profiles
Jump from this HS2 product to the country trade pages for the largest exporters and importers.
Top exporters
Top trade routes
Top exporter → importer routes among the largest exporters (bounded at build-time).
| Exporter | Importer | Value | Share of exports |
|---|---|---|---|
| Indonesia (IDN) | China (CHN) | $16.07B | 4.0% |
| Canada (CAN) | USA (USA) | $7.56B | 1.9% |
| China (CHN) | Viet Nam (VNM) | $7.27B | 1.8% |
| USA (USA) | Mexico (MEX) | $7.06B | 1.8% |
| Brazil (BRA) | USA (USA) | $5.72B | 1.4% |
| China (CHN) | Rep. of Korea (KOR) | $5.63B | 1.4% |
| USA (USA) | Canada (CAN) | $4.78B | 1.2% |
| China (CHN) | Indonesia (IDN) | $4.01B | 1.0% |
| Japan (JPN) | Rep. of Korea (KOR) | $3.91B | 1.0% |
| Japan (JPN) | Thailand (THA) | $3.60B | 0.9% |
| Belgium (BEL) | France (FRA) | $3.31B | 0.8% |
| China (CHN) | Thailand (THA) | $3.25B | 0.8% |
| Belgium (BEL) | Germany (DEU) | $3.18B | 0.8% |
| China (CHN) | United Arab Emirates (ARE) | $3.09B | 0.8% |
| France (FRA) | Germany (DEU) | $3.09B | 0.8% |
Data notes & methodology
Source: UN Comtrade
Exports total: $402.02B • Imports total: $414.46B
Canonical: https://tradevedia.com/product/hs2/72/