# HS4 7304 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 7304 trade corridors: leading exporter-to-importer routes, value, growth, market share, access, tariffs, and distance context.

Canonical: https://www.yugalinks.com/trade/sector/hs4/7304/corridors

## Page details

- Page type: HS4 subsector top trade corridors
- HS4: **7304 - Iron or steel (other than cast iron)**
- Parent sector: [HS2 73 overview](https://www.yugalinks.com/trade/sector/hs2/73)
- Coverage: 1995-2024
- Publisher: [Yugalinks](https://www.yugalinks.com/)

## Answer

China to United Arab Emirates leads the reported HS4 7304 routes with $622.5M in 2024 and +39% calculated three-year growth. The HS4 subsector recorded $28.4B in latest reported trade, with +9.8% calculated three-year growth.

## Explore Yugalinks

- [Open HS4 7304 in the workspace](https://www.yugalinks.com/app?hs=7304)
- [Read the HS4 overview](https://www.yugalinks.com/trade/sector/hs4/7304)
- [Read the parent HS2 overview](https://www.yugalinks.com/trade/sector/hs2/73)
- [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 | $28.4B | Reported value in 2024 |
| Displayed corridor value | $8.0B | Sum of the routes shown |
| HS4 3-year CAGR | +9.8% | Calculated annualized change |
| HS4 5-year CAGR | +2.3% | Calculated annualized change |
| HS4 10-year CAGR | -2.5% | Calculated annualized change |
| Latest year-on-year change | -10.3% | Calculated change from the prior year |
| Reported trend | Growing | Available HS4 trend label |
| Historical peak | $44.0B in 2008 | Reported-history comparison |
| Latest below peak | 35.5% | Calculated peak comparison |
| Exporter / importer HHI | 1,447.4 / 477.8 | Calculated concentration indicators |
| Trade volatility | 0.5 | Calculated variation in annual values |
| Active corridors / exporters / importers / HS6 | 6,873 / 181 / 200 / 13 | Latest available breadth |

## Growth leaders

- **Russia -> China**: +953.9% calculated three-year CAGR, $239.2M latest reported value, 0.8% market share, trend Rapid growth.
- **Italy -> USA, Puerto Rico and US Virgin Islands**: +79% calculated three-year CAGR, $246.6M latest reported value, 0.9% market share, trend Rapid growth.
- **Canada -> USA, Puerto Rico and US Virgin Islands**: +64.1% calculated three-year CAGR, $246.4M latest reported value, 0.9% market share, trend Rapid growth.
- **United Arab Emirates -> Iraq**: +60.9% calculated three-year CAGR, $194.3M latest reported value, 0.7% market share, trend Rapid growth.
- **China -> Kuwait**: +59.6% calculated three-year CAGR, $301.0M latest reported value, 1.1% 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 | $2.1B | 7 | +26.9% | 0.1% | +0.1 pp |
| No FTA reported | $5.8B | 18 | +84.5% | 0.1% | +0.1 pp |

- Lowest reported applied tariff route: **Canada -> USA, Puerto Rico and US Virgin Islands** 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 | China | United Arab Emirates | $622.5M | +39% | +9.6% | +6.4% | 2.2% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 6,430 km | $622.5M (2024) | 0% | 29 | Rapid growth |
| 2 | China | India | $507.3M | +4.8% | -1.5% | -2.3% | 1.8% | No FTA reported | 0.5% | 0.5% | 0.1% | +0.5 pp | 4,252 km | $817.8M (2011) | 38% | 30 | Growing |
| 3 | Japan | USA, Puerto Rico and US Virgin Islands | $455.1M | +31.7% | +4.3% | -2.2% | 1.6% | No FTA reported | 0% | 0% | 0% | +0 pp | 10,872 km | $794.7M (2012) | 42.7% | 30 | Rapid growth |
| 4 | China | Indonesia | $429.9M | +26.1% | +14.3% | +5% | 1.5% | FTA reported | 0.2% | 0.2% | 0.1% | +0.1 pp | 4,425 km | $429.9M (2024) | 0% | 30 | Rapid growth |
| 5 | China | Republic of Korea | $380.1M | -2.5% | -1.5% | -0.2% | 1.3% | FTA reported | 0.1% | 0.1% | 0.1% | +0 pp | 867 km | $552.0M (2012) | 31.2% | 30 | Stable |
| 6 | Japan | China | $377.5M | +5.4% | +10.5% | +0% | 1.3% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 1,763 km | $806.3M (2008) | 53.2% | 30 | Growing |
| 7 | China | Oman | $361.8M | +14.7% | +6.1% | +9.8% | 1.3% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 6,193 km | $361.8M (2024) | 0% | 24 | Rapid growth |
| 8 | China | Thailand | $351.8M | +16.1% | +16.8% | +2.9% | 1.2% | FTA reported | 0.3% | 0.3% | 0% | +0.3 pp | 2,887 km | $437.6M (2022) | 19.6% | 30 | Rapid growth |
| 9 | China | Saudi Arabia | $337.7M | +48.3% | +24.9% | +3.4% | 1.2% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 7,253 km | $411.0M (2023) | 17.8% | 30 | Rapid growth |
| 10 | China | Turkey | $336.4M | +27.6% | +20.3% | +6.2% | 1.2% | No FTA reported | 0.1% | 0.1% | 0% | +0.1 pp | 8,004 km | $352.1M (2023) | 4.5% | 26 | Rapid growth |
| 11 | Mexico | USA, Puerto Rico and US Virgin Islands | $322.9M | -17.3% | -4% | -7.1% | 1.1% | FTA reported | 0% | 0% | 0% | +0 pp | 3,359 km | $700.6M (2022) | 53.9% | 30 | Rapid decline |
| 12 | Japan | Norway | $318.0M | +26.7% | +3.7% | +3.4% | 1.1% | No FTA reported | 0% | 0% | Not reported | Not reported | 8,427 km | $348.6M (2020) | 8.8% | 30 | Rapid growth |
| 13 | Germany | Brazil | $301.0M | +46.8% | +63.4% | +20% | 1.1% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 10,232 km | $312.9M (2023) | 3.8% | 30 | Rapid growth |
| 14 | China | Kuwait | $301.0M | +59.6% | -1.3% | +9.8% | 1.1% | No FTA reported | 0% | 0% | Not reported | Not reported | 6,932 km | $519.2M (2023) | 42% | 27 | Rapid growth |
| 15 | Austria | USA, Puerto Rico and US Virgin Islands | $293.9M | +17.2% | +11.6% | -1.7% | 1% | No FTA reported | 0% | 0% | Not reported | Not reported | 6,814 km | $441.1M (2022) | 33.4% | 30 | Rapid growth |
| 16 | Italy | USA, Puerto Rico and US Virgin Islands | $246.6M | +79% | +20.7% | -0.8% | 0.9% | No FTA reported | 0% | 0% | Not reported | Not reported | 6,907 km | $344.0M (2012) | 28.3% | 30 | Rapid growth |
| 17 | Canada | USA, Puerto Rico and US Virgin Islands | $246.4M | +64.1% | +21.6% | -5.7% | 0.9% | FTA reported | 0% | 0% | 0% | +0 pp | 556 km | $464.8M (2012) | 47% | 30 | Rapid growth |
| 18 | Russia | China | $239.2M | +953.9% | +280.7% | +33.3% | 0.8% | No FTA reported | 0.2% | 0.2% | Not reported | Not reported | 6,831 km | $239.2M (2024) | 0% | 30 | Rapid growth |
| 19 | China | Russia | $233.4M | +14.9% | -0.5% | +0% | 0.8% | No FTA reported | 0.1% | 0.1% | 0.1% | +0 pp | 6,831 km | $325.1M (2013) | 28.2% | 30 | Rapid growth |
| 20 | Japan | United Arab Emirates | $227.9M | +40.1% | +5.5% | +3.5% | 0.8% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 7,940 km | $296.9M (2012) | 23.2% | 30 | Rapid growth |
| 21 | Japan | Qatar | $225.8M | +42.7% | +38% | +48.4% | 0.8% | No FTA reported | 0% | 0% | Not reported | Not reported | 8,272 km | $225.8M (2024) | 0% | 30 | Rapid growth |
| 22 | Mexico | Canada | $224.3M | +41.1% | +19.1% | +1.7% | 0.8% | FTA reported | 0% | 0.1% | 0% | +0 pp | 3,260 km | $224.3M (2024) | 0% | 30 | Rapid growth |
| 23 | China | USA, Puerto Rico and US Virgin Islands | $219.7M | +20.1% | +3.7% | -3.9% | 0.8% | No FTA reported | 0% | 0% | Not reported | Not reported | 11,883 km | $3.3B (2008) | 93.2% | 30 | Rapid growth |
| 24 | Japan | Oman | $205.5M | +49.2% | +9.9% | +13% | 0.7% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 7,751 km | $241.0M (2023) | 14.7% | 30 | Rapid growth |
| 25 | United Arab Emirates | Iraq | $194.3M | +60.9% | +7.5% | +26.9% | 0.7% | FTA reported | Not reported | Not reported | Not reported | Not reported | 1,385 km | $194.3M (2024) | 0% | 26 | 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=7304)
- [Read the HS4 overview](https://www.yugalinks.com/trade/sector/hs4/7304)
- [Read the HS2 overview](https://www.yugalinks.com/trade/sector/hs2/73)
- [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)