India’s Exports of Iron and Steel Products – India Export Data

15 September 2020
India Export Data

India’s exports of iron and steel rose by more than 100% in June 2020, when India went into Coronavirus Unlock 1.0. After going through complete Covid-19 lockdown for more than two months, Indian companies started doing business from June. According to India export data, India’s exports of iron and steel products valued USD 9,773 million, which recorded similar value as compared to the last year. Let’s have a proper analysis of Indian export market of iron and steel from India export statistics.


Iron and Steel Exports from India Rose by More Than 100% in June 2020


India’s exports of iron and steel products recorded a sharp rise of more than 100% in June 2020 with shipments of USD 1.32 billion against USD 653.52 million in the same month last year, even as export of engineering goods from the country registered a decline of 7.24%.


According to export promotion council of India, out of 33 engineering export commodities, 27 recorded negative year-on-year growth in June, while all the six positive entries related to metals, with iron and steel being on top of the table. A drop in domestic demand, disruption in supply chain and acute shortage of construction labour led several top steelmakers to export more than 50-60% of their sales volume during May-June period.


India’s Exports of Iron and Steel from 2010 to 2019


According to India customs data, since 2010, India recorded a rise in value of iron and steel exports till year 2013. Thereafter, the value declined for three consecutive years. India recorded a rise in export value of iron and steel products in 2017, then figures declined in 2018 and 2019. Below given chart and table shows dollar amount of India’s exports of iron and steel recorded in the last 10 years.

Year

Value USD Million

2010

6,996

2011

7,925

2012

7,699

2013

10,206

2014

9,080

2015

6,313

2016

6,435

2017

11,712

2018

9,969

2019

9,773

 


>> Search Indian Exporters of Iron and Steel Now!


India Top 10 Export Commodities of Iron and Steel Category


Which iron and steel products exported by India in 2019? Check the list of top 10 iron and steel goods which India shipped to the world countries last year.

HS Code

Product Description

Value USD Million

7208

Flat-rolled Products of Iron or Non-Alloy Steel

2,578

7202

Ferro-alloys

1,844

7207

Semi-finished Products of Iron or Non-alloy Steel

1,147

7210

Flat-rolled Products of Iron or Non-alloy Steel

840

7222

Other Bars and Rods of Stainless Steel

832

7219

Flat-rolled Products of Stainless Steel

446

7209

Flat-rolled of Iron or Non-alloy Steel

351

7223

Wire of Stainless Steel

291

7203

Ferrous Products Obtained by Direct Reduction of Iron Ore

245

7214

Bars and Rods

195

 


India’s Top 10 Export Destinations of Iron and Steel


According to India shipment data, India’s top export destination of iron and steel products was Vietnam, which shared 11.5% value to total exports recorded in 2019. Other major export partners of India’s iron and steel were Nepal, Italy, United Arab Emirates, China, Belgium, Bangladesh, South Korea, Malaysia and Spain. India’s top 10 export partners of iron and steel accounted 61.1% to overall value of shipments recorded in 2019.

Country

Value USD %

Vietnam

11.5

Nepal

9.6

Italy

9

United Arab Emirates

8

China

5.8

Belgium

5

Bangladesh

3.7

South Korea

3.2

Malaysia

2.7

Spain

2.6

 


During June 2020, exports of iron and steel to China increased by over 1400% to USD 524 million from USD 35 million in the same month last year. Iron and steel exports to Vietnam went up by over 700% to USD 183 million and to Taiwan rose over 200% to USD 35 million.


Iron and steel is in the list of India’s top 10 export commodities, which has registered a tremendous growth in June 2020, when India went into coronavirus unlock 1.0. Get the latest updates on India’s exports right here.

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