For more data visit: www.trademap.org
According to ITC's Trade Map (www.trademap.org), the European Union as a whole is by far the biggest exporter of steel. In 2016, it exported $109 billion worth of steel, which was its lowest output since 2009. While this confirms a global trend that semi-finished steel. the EU is responsible for 42% the world's exports.
Within the EU, Germany , Italy and the Netherlands led the pack. Interestingly, many smaller EU nations such as Malta, Slovenia, Lithuania have enjoyed positive export growth in the semi-finished steel sector.
Despite its biggest drop in value since 2011, China remained second, exporting $51.8 billion worth of steel in 2016. China's main markets for semi-finished steel are the US (17.3%), Japan (5.8%), South Korea (5%), Australia (3.1%) and Germany (2.8%). China's concentration of importing countries is low; this means, their trading partners are well diversified.
The US is the third-biggest exporter of steel at $17.4 billion, followed by South Korea at $11.1 billion and Japan at $9.4 billion.
The EU was also the world's biggest importer of steel in 2016. In fact, it increased its imports from the previous year by $1.2 billion, reaching $92.4 billion. Second came the US, which imported $33.5 billion worth of steel in 2016. However, we already know that this increased to $39.1 billion last year.
China, at third, imported 'only' $9.5 billion worth of steel in 2016, followed by Mexico at $8.7 billion and Canada at $8.4 billion.
USA's main suppliers for semi-finished steel are China (33.7% market share), Mexico (11.9%), Canada (10.3%), Chinese Tapei (7.1%) and Japan (5.55). US's concentration of suppliers is very high, this means their imports mainly came from only a few countries. China alone is accounted for 33.7% of the US steel imports.
Top 5 exporters of steel (2016)
1) European Union: $109 billion
2) China: $51.8 billion
3) USA: $17.4 billion
4) South Korea: $11.1 billion
5) Japan: $9.4 billion
Top 5 importers of steel (2016)
1) European Union: $92.4 billion
2) USA: $33.5 billion
3) China: $9.5 billion
4) Mexico: $8.7 billion
5) Canada: $8.4 billion
