European Union | Imports and Exports | World | Iron and steel | Value (US$) and Value Growth, YoY (%) | 2012 - 2023
The value of exports of commodity group 72 "Iron and steel" from European Union totalled $ 37 billion in 2023. Sales of commodity group 72 from European Union decreased by 3.4% in value terms compared to 2022. exports of commodity group 72 "Iron and steel" decreased by $ 1.31 billion (cumulative exports of commodity group 72 from European Union amounted $38 billion in 2022)
Exports of commodity group 72 "Iron and steel" amounted to 1.35% of total exports from European Union (cumulative merchandise exports from European Union totalled $ 2.76 trillion in 2023). The share of commodity group 72 in total exports from European Union decreased by 0.191 p.p. compared to 2022 (it was 1.54% in 2022 and cumulative exports from European Union were equal to $ 2.5 trillion).
Where does European Union export Iron and steel?
Top export destinations of "Iron and steel" from European Union in 2023:
- Turkey with a share of 19.4% (7.26 billion US$)
- USA with a share of 15.3% (5.72 billion US$)
- United Kingdom with a share of 11.8% (4.44 billion US$)
- Switzerland with a share of 7% (2.61 billion US$)
- India with a share of 5.85% (2.18 billion US$)
- Mexico with a share of 4.88% (1.82 billion US$)
- China with a share of 4.44% (1.66 billion US$)
- Canada with a share of 2.71% (1.01 billion US$)
- Egypt with a share of 2.68% (1 billion US$)
- Morocco with a share of 2.22% (831 million US$)
Exports structure of 72 - Iron and steel - from European Union in 2023 represented by the following main commodity groups:
- 20% (7.81 billion US$): 7204 - Ferrous waste and scrap; remelting scrap ingots of iron or steel.
- 13.3% (4.99 billion US$): 7225 - Flat-rolled products of other alloy steel, of a width of 600 mm or more
- 9.63% (3.6 billion US$): 7210 - Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, clad, plated or coated
- 7.46% (2.79 billion US$): 7208 - Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, hot-rolled, not clad, plated or coated
- 6.26% (2.34 billion US$): 7219 - Flat-rolled products of stainless steel, of a width of 600 mm or more
- 6.11% (2.28 billion US$): 7216 - Angles, shapes and sections of iron or non-alloy steel
- 4.56% (1.7 billion US$): 7228 - Other bars and rods of other alloy steel; angles, shapes and sections, of other alloy steel; hollow drill bars and rods, of alloy or non-alloy steel
- 4.43% (1.65 billion US$): 7222 - Other bars and rods of stainless steel; angles, shapes and sections of stainless steel
- 2.63% (984 million US$): 7214 - Other bars and rods of iron or non-alloy steel, not further worked than forged, hot-rolled, hot-drawn or hot-extruded, but including those twisted after rolling
- 2.43% (909 million US$): 7213 - Bars and rods, hot-rolled, in irregularly wound coils, of iron or non-alloy steel
The value of imports of commodity group 72 "Iron and steel" to European Union totalled $ 45 billion in 2023. Sales of commodity group 72 to European Union decreased by 22% in value terms compared to 2022. imports of commodity group 72 "Iron and steel" decreased by $ 13.1 billion (the value of imports of commodity group 72 to European Union was equal to $58 billion in 2022)
Imports of commodity group 72 "Iron and steel" accounted for 1.67% of total import flow to European Union (in 2023, total imports to European Union amounted to $ 2.71 trillion). The share of commodity group 72 in total imports to European Union decreased by 0.26 p.p. compared to 2022 (it was 1.93% in 2022 and cumulative imports to European Union were equal to $ 3.02 trillion).
Where does European Union import Iron and steel from?
Top trading partners (import of "Iron and steel") of European Union in 2023:
- China with a share of 10.2% (4.67 billion US$)
- Korea with a share of 9.47% (4.3 billion US$)
- India with a share of 9.41% (4.27 billion US$)
- United Kingdom with a share of 8.08% (3.67 billion US$)
- Russia with a share of 6.97% (3.16 billion US$)
- Turkey with a share of 6.13% (2.78 billion US$)
- Other Asia, nes with a share of 5.48% (2.49 billion US$)
- Vietnam with a share of 4.88% (2.21 billion US$)
- Brazil with a share of 4.29% (1.94 billion US$)
- Ukraine with a share of 4.28% (1.94 billion US$)
Imports structure of 72 - Iron and steel - to European Union in 2023 represented by the following main commodity groups:
- 18.1% (8.24 billion US$): 7208 - Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, hot-rolled, not clad, plated or coated
- 13.5% (6.16 billion US$): 7202 - Ferro-alloys.
- 12.9% (5.87 billion US$): 7210 - Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, clad, plated or coated
- 9.66% (4.39 billion US$): 7207 - Semi-finished products of iron or non-alloy steel
- 4.44% (2.02 billion US$): 7204 - Ferrous waste and scrap; remelting scrap ingots of iron or steel.
- 3.99% (1.81 billion US$): 7225 - Flat-rolled products of other alloy steel, of a width of 600 mm or more
- 3.98% (1.8 billion US$): 7219 - Flat-rolled products of stainless steel, of a width of 600 mm or more
- 3.83% (1.74 billion US$): 7209 - Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, cold-rolled (cold-reduced), not clad, plated or coated
- 3.19% (1.45 billion US$): 7214 - Other bars and rods of iron or non-alloy steel, not further worked than forged, hot-rolled, hot-drawn or hot-extruded, but including those twisted after rolling
- 3.14% (1.42 billion US$): 7228 - Other bars and rods of other alloy steel; angles, shapes and sections, of other alloy steel; hollow drill bars and rods, of alloy or non-alloy steel
