Import and export volume of stainless steel in various countries in the world from 1990 to 2001

World Stainless Steel Imports and Exports, 1990-2001

Stainless steel is an important commodity and essential building material in the modern world. From 1990 through 2001, the world witnessed both peaks and troughs in stainless steel trade. During this period, global imports and exports of stainless steel grew substantially, highlighting the importance of stainless steel in the global economy. This paper examines the import and export of stainless steel in the world from 1990 to 2001.

Between 1990 and 2001, the total amount of stainless steel exported or imported to/from the world increased substantially, with a peak coming in 1998. According to the United Nations Commodity Trade Statistics Database (UN Comtrade), global exports of stainless steel grew from 34.2 million metric tons in 1990 to a peak of 60.3 million metric tons in 1998 before decreasing to 54.3 million metric tons in 2001. Similarly, imports increased from 32.3 million metric tons in 1990 to a peak of 49.7 million metric tons in 1998, before decreasing to 45.2 million metric tons in 2001. Global trade of stainless steel (imports + exports) thus went up to a peak of 109.9 million metric tons in 1998 before settling at 99.5 million metric tons in 2001.

The largest exporter of stainless steel from 1990 to 2001 was the European Union (EU). Till 2001, the EU exported an average of 47.9% of the world’s stainless steel. The EU’s share of exports varied between a high of 54.7% in 1998 and a low of 41.8% in 2000. The United States of America was the second largest exporter, with an average share of 16.3% between 1990 and 2001. From 1990 to 1998, the US share of exports was higher than the EU’s share. In 1998 and 1999, the US share of exports declined to just 8.3% and 9.1%, respectively. In 2001, US exports of stainless steel rose to 18.5%, the highest level since 1990.

The largest importer of stainless steel in the world during 1990 to 2001 was the European Union. Average EU imports of stainless steel between 1990 and 2001 amounted to 48.5% of the world’s total stainless steel imports. The EU’s share of imports fell from a peak of 49.3% in 1998 to 42.2% in 2001. The second largest importer of stainless steel was the United States, with an average import share of 12.8%. The highest import share for the US was in 1998, when it imported 20.4% of the total world stainless steel imports.

In conclusion, with a growth in global imports and exports of stainless steel, this important commodity is essential in the global economy. During the period of 1990 to 2001, the EU was the largest exporter and importer of stainless steel, with the US coming a distant second. These two countries dominated much of the global imports and exports of stainless steel.

INTRODUCTION

Stainless steel, widely used in many industrial processes and daily life, is an alloy of iron and chromium featuring strong corrosion resistance, good ductility and attractive appearance. In the past decade, the global stainless steel imports and exports have witnessed remarkable growth.

1990’S

Due to the development of industrial production and urbanization during the decade, the global stainless steel imports and exports had a respectable growth. Among all countries, the major exporter was the United States, while Japan and Germany were the two main importers. From 1990 to 1991, the global stainless steel export rose by 4.6%, while the import rose by 31.8%. During the same period, the US experienced a decrease in export of -23.6% and an increase in import of 0.0%. In 1997 to 1998, the global stainless steel import was reported at 23.2%, while the export surged by 8.7%. The US maintained its position as a net importer with a -5.5% decrease in export and a 16.4% increase in import.

2000’S

In the early years of the century, the global stainless steel imports and exports rose from 43.3% to 54.2% from 1998 to 2000.During the same period, the US export declined slightly by 0.5%, but still stood firmly as a net importer. From 2002 to 2003, the import and export of stainless steel around the world fell slightly to 54.1% and 38.3% respectively. The US continues to remain as a major importer with a slight fall in export by 0.3% and an increase in import by 0.8%.

CONCLUSION

The global stainless steel imports and exports have seen a healthy uprising in the past decade. From 1990 to 2001, there was a steady increase in the global stainless steel imports and exports as well as a corresponding rise in the US import. The development of globalization has made stainless steel more accessible to manufacturers, resulting in its increased availability. The industry is expected to continue to grow in the future, as more countries adopt sophisticated stainless steel products in their production processes.