# HS4 7206 top trade corridors | Yugalinks

> Published by **Yugalinks**, global trade intelligence for growing businesses.
>
> [Follow Yugalinks on LinkedIn](https://in.linkedin.com/company/yugalinks)

Explore reported HS4 7206 trade corridors: leading exporter-to-importer routes, value, growth, market share, access, tariffs, and distance context.

Canonical: https://www.yugalinks.com/trade/sector/hs4/7206/corridors

## Page details

- Page type: HS4 subsector top trade corridors
- HS4: **7206 - Iron or non-alloy steel**
- Parent sector: [HS2 72 overview](https://www.yugalinks.com/trade/sector/hs2/72)
- Coverage: 1995-2024
- Publisher: [Yugalinks](https://www.yugalinks.com/)

## Answer

India to Italy leads the reported HS4 7206 routes with $193.5M in 2024 and +97.2% calculated three-year growth. The HS4 subsector recorded $573.8M in latest reported trade, with -35.4% calculated three-year growth.

## Explore Yugalinks

- [Open HS4 7206 in the workspace](https://www.yugalinks.com/app?hs=7206)
- [Read the HS4 overview](https://www.yugalinks.com/trade/sector/hs4/7206)
- [Read the parent HS2 overview](https://www.yugalinks.com/trade/sector/hs2/72)
- [Review data sources](https://www.yugalinks.com/data-sources)
- [Check data coverage](https://www.yugalinks.com/data-coverage)
- [Read the methodology](https://www.yugalinks.com/methodology)
- [Read Responsible AI principles](https://www.yugalinks.com/responsible-ai)

## Summary and indicators

| Measure | Value | Interpretation |
| --- | ---: | --- |
| Latest reported HS4 trade | $573.8M | Reported value in 2024 |
| Displayed corridor value | $425.1M | Sum of the routes shown |
| HS4 3-year CAGR | -35.4% | Calculated annualized change |
| HS4 5-year CAGR | -7.9% | Calculated annualized change |
| HS4 10-year CAGR | -7% | Calculated annualized change |
| Latest year-on-year change | +9.4% | Calculated change from the prior year |
| Reported trend | Rapid decline | Available HS4 trend label |
| Historical peak | $2.9B in 2012 | Reported-history comparison |
| Latest below peak | 80.5% | Calculated peak comparison |
| Exporter / importer HHI | 2,191.2 / 2,188.9 | Calculated concentration indicators |
| Trade volatility | 0.6 | Calculated variation in annual values |
| Active corridors / exporters / importers / HS6 | 1,342 / 118 / 176 / 2 | Latest available breadth |

## Growth leaders

- **Zimbabwe -> South Africa**: +8,560.7% calculated three-year CAGR, $9.5M latest reported value, 1.7% market share, trend Rapid growth.
- **USA, Puerto Rico and US Virgin Islands -> Trinidad and Tobago**: +3,282.8% calculated three-year CAGR, $4.1M latest reported value, 0.7% market share, trend Rapid growth.
- **Lithuania -> Spain**: +3,181.7% calculated three-year CAGR, $5.3M latest reported value, 0.9% market share, trend Rapid growth.
- **USA, Puerto Rico and US Virgin Islands -> United Arab Emirates**: +1,364.2% calculated three-year CAGR, $8.9M latest reported value, 1.5% market share, trend Rapid growth.
- **Angola -> Democratic Republic of the Congo**: +1,173.8% calculated three-year CAGR, $16.0M latest reported value, 2.8% market share, trend Rapid growth.

## Access and tariff context

FTA status, tariff fields, and distance are route context. Group averages below are calculated from the displayed routes and are not tariff recommendations.

| Access group | Reported route value | Routes | Average 3-year CAGR | Average applied tariff | Average tariff advantage |
| --- | ---: | ---: | ---: | ---: | ---: |
| FTA reported | $93.5M | 13 | +968.3% | 0.1% | +0.1 pp |
| No FTA reported | $331.6M | 12 | +712% | 0.1% | +0.2 pp |

- Lowest reported applied tariff route: **Italy -> Spain** at 0%.
- Largest reported tariff advantage route: **China -> India** at +0.5 pp.

## Full corridor table

| Rank | Exporter | Importer | Latest trade | 3-year CAGR | 5-year CAGR | 10-year CAGR | Market share | FTA / access | Applied tariff | MFN tariff | Preferential tariff | Tariff advantage | Distance | Historical peak | Latest below peak | Years | Trend |
| ---: | --- | --- | ---: | ---: | ---: | ---: | ---: | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | --- |
| 1 | India | Italy | $193.5M | +97.2% | +757% | +251.9% | 33.7% | No FTA reported | 0% | 0.1% | 0% | +0 pp | 5,927 km | $197.4M (2023) | 2% | 27 | Rapid growth |
| 2 | Iran (Islamic Republic of) | Jordan | $50.4M | +186.1% | +35.8% | +24.5% | 8.8% | No FTA reported | 0.2% | 0.2% | Not reported | Not reported | 1,490 km | $82.0M (2016) | 38.5% | 12 | Rapid growth |
| 3 | Indonesia | El Salvador | $30.4M | Not reported | Not reported | Not reported | 5.3% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 18,089 km | $30.4M (2024) | 0% | 3 | Insufficient history |
| 4 | Sweden | Germany | $20.1M | -0.7% | -6.9% | +44.6% | 3.5% | FTA reported | 0% | 0% | 0% | +0 pp | 811 km | $28.7M (2019) | 29.9% | 22 | Stable |
| 5 | Angola | Democratic Republic of the Congo | $16.0M | +1,173.8% | +1,275.6% | Not reported | 2.8% | No FTA reported | Not reported | Not reported | Not reported | Not reported | 549 km | $16.0M (2024) | 0% | 6 | Rapid growth |
| 6 | Italy | Spain | $12.7M | -18.6% | +2.8% | +16.8% | 2.2% | FTA reported | 0% | 0% | 0% | +0 pp | 1,366 km | $24.6M (2023) | 48.3% | 30 | Rapid decline |
| 7 | Slovenia | Germany | $11.7M | +131.3% | +355.2% | +70.7% | 2% | FTA reported | 0% | 0% | 0% | +0 pp | 724 km | $11.7M (2024) | 0% | 16 | Rapid growth |
| 8 | Zimbabwe | South Africa | $9.5M | +8,560.7% | +1,290.9% | +48.9% | 1.7% | FTA reported | 0.1% | 0.1% | 0.1% | +0.1 pp | 978 km | $9.5M (2024) | 0% | 19 | Rapid growth |
| 9 | USA, Puerto Rico and US Virgin Islands | United Arab Emirates | $8.9M | +1,364.2% | +260.8% | +59.2% | 1.5% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 11,024 km | $8.9M (2024) | 0% | 28 | Rapid growth |
| 10 | USA, Puerto Rico and US Virgin Islands | Viet Nam | $7.8M | +398.2% | +288.5% | +32.4% | 1.4% | No FTA reported | 0.2% | 0.2% | Not reported | Not reported | 14,306 km | $8.1M (2010) | 4.3% | 21 | Rapid growth |
| 11 | Libya | Egypt | $7.4M | +83.2% | +43.8% | +19.9% | 1.3% | FTA reported | 0.3% | 0.3% | 0% | +0.3 pp | 1,742 km | $7.4M (2024) | 0% | 5 | Rapid growth |
| 12 | Belgium | Latvia | $5.6M | -16.9% | +0.4% | +30% | 1% | FTA reported | 0% | 0% | 0% | +0 pp | 1,458 km | $11.9M (2022) | 53% | 19 | Rapid decline |
| 13 | Lithuania | Spain | $5.3M | +3,181.7% | +712.2% | +251.3% | 0.9% | FTA reported | 0% | 0% | 0% | +0 pp | 2,666 km | $5.3M (2024) | 0% | 3 | Rapid growth |
| 14 | Iran (Islamic Republic of) | Georgia | $4.7M | +281.9% | +85.9% | +87.7% | 0.8% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 878 km | $5.7M (2023) | 16.5% | 10 | Rapid growth |
| 15 | USA, Puerto Rico and US Virgin Islands | Canada | $4.7M | -6% | +6.3% | -1.8% | 0.8% | FTA reported | 0% | 0.1% | 0% | +0 pp | 556 km | $9.5M (2008) | 50.4% | 30 | Declining |
| 16 | Republic of Korea | Japan | $4.5M | +78.1% | +53.4% | +17.6% | 0.8% | No FTA reported | 0% | 0% | 0% | +0 pp | 1,155 km | $4.9M (2008) | 9.4% | 30 | Rapid growth |
| 17 | China | India | $4.2M | +136.6% | +6.5% | +69% | 0.7% | No FTA reported | 0.5% | 0.5% | 0.1% | +0.5 pp | 4,252 km | $4.5M (2022) | 5% | 24 | Rapid growth |
| 18 | India | United Kingdom | $4.2M | +753.1% | +172% | +43.2% | 0.7% | No FTA reported | Not reported | Not reported | Not reported | Not reported | 6,720 km | $4.2M (2024) | 0% | 30 | Rapid growth |
| 19 | USA, Puerto Rico and US Virgin Islands | Trinidad and Tobago | $4.1M | +3,282.8% | +347.3% | +39.7% | 0.7% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 3,549 km | $6.1M (2017) | 32.8% | 28 | Rapid growth |
| 20 | Iraq | Jordan | $3.6M | +43.2% | +24% | +11.4% | 0.6% | FTA reported | 0.2% | 0.2% | 0% | +0.2 pp | 808 km | $7.2M (2023) | 49.6% | 5 | Rapid growth |
| 21 | Italy | Germany | $3.5M | -21.9% | +6.2% | -2.3% | 0.6% | FTA reported | 0% | 0% | 0% | +0 pp | 1,184 km | $7.4M (2021) | 52.4% | 30 | Rapid decline |
| 22 | Netherlands | Belgium | $3.3M | +6.1% | +14.9% | +4.7% | 0.6% | FTA reported | 0% | 0% | 0% | +0 pp | 174 km | $3.8M (2016) | 12.8% | 26 | Growing |
| 23 | Jordan | Saudi Arabia | $3.2M | +468.8% | +183.8% | +147.8% | 0.6% | FTA reported | 0.1% | 0.1% | 0% | +0.1 pp | 1,326 km | $3.2M (2024) | 0% | 9 | Rapid growth |
| 24 | China | Saudi Arabia | $3.0M | +79.8% | +113.7% | +48.4% | 0.5% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 7,253 km | $27.5M (2007) | 89.2% | 16 | Rapid growth |
| 25 | Czechia | Italy | $2.8M | +176.7% | +35.7% | +10.6% | 0.5% | FTA reported | 0% | 0% | 0% | +0 pp | 923 km | $9.7M (2004) | 71.1% | 29 | Rapid growth |

## Definitions

Latest trade values are reported merchandise trade observations. CAGR, market share, HHI, volatility, and peak comparisons are calculated indicators over the available history. FTA, tariffs, and distance provide route context where available. Missing values remain unavailable and are not imputed or presented as forecasts.

## Data sources

- Primary trade series: OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-08-28). [OECD Data Explorer](https://data-explorer.oecd.org/) - [OECD Terms & Conditions](https://www.oecd.org/termsandconditions/)
- CEPII BACI bilateral trade flows (202601): [dataset page](https://www.cepii.fr/CEPII/en/bdd_modele/bdd_modele_item.asp?id=37) - [BACI documentation](https://www.cepii.fr/DATA_DOWNLOAD/baci/doc/baci_webpage.html) - [Etalab 2.0 Open Licence](https://www.etalab.gouv.fr/wp-content/uploads/2018/11/open-licence.pdf)

This page presents derived Yugalinks views of reported observations and calculated indicators.

## Continue your research

- [Open the HS4 workspace](https://www.yugalinks.com/app?hs=7206)
- [Read the HS4 overview](https://www.yugalinks.com/trade/sector/hs4/7206)
- [Read the HS2 overview](https://www.yugalinks.com/trade/sector/hs2/72)
- [Review data sources](https://www.yugalinks.com/data-sources)
- [Check data coverage](https://www.yugalinks.com/data-coverage)
- [Read methodology](https://www.yugalinks.com/methodology)
- [Read Responsible AI principles](https://www.yugalinks.com/responsible-ai)