# Oman to Colombia HS 720720 new corridor signal

This page reviews a reported new-corridor signal for iron or non-alloy steel: semi-finished products of iron or non-alloy steel, containing by weight 0.25% or more of carbon. It separates reported trade observations from calculated indicators and access context.

## Signal summary

- Signal type: New corridor
- Signal strength: 100/100
- Reported period: 2024
- Buyer market imports: $230.3M
- Buyer market growth: +86.9%
- Current exporter share: 9.6%
- Share gap: 13.9%

## What the signal means

The signal points to a newly observed exporter-to-buyer relationship in the available reporting. It is a prompt for market research, not a forecast, order, or guarantee of commercial access. Compare demand, suppliers, access, and route history together before acting.

## Market opportunity

- Latest buyer imports: $230.3M
- Three-year buyer-import projection: $305.6M
- Supplier countries observed: 15
- Average buyer imports: $52.1M
- Historical buyer-import peak: $230.3M
- Full-history buyer-import CAGR: +9.9%
- Latest buyer-import annual change: +86.9%

## Competition landscape

- Top supplier: Algeria
- Top supplier share: 23.5%
- Market concentration: 1,669
- Exporter share: 9.6%
- Share gap to peer benchmark: 13.9%

## Access profile

- Applied tariff: 10.1%
- MFN tariff: 10.1%
- Preferential tariff: 0.0%
- Approximate distance: 14,109 km
- Trade agreement: Not reported
- Business entry time: 10 days
- Shared spoken language score: 0

## Buyer economy

- GDP per person: $6.1K
- GDP per-person growth: +12.7%
- Population: 51,266k
- GDP: $314.3B
- GDP five-year CAGR: +5.3%
- Investment rate: 21.8%
- Savings rate: 19.5%

## Product-level history

| Year | Product exports | Year-on-year |
| ---: | ---: | ---: |
| 2024 | $22.1M | +0.0% |

## Broader route context

Broader Oman to Colombia route exports provide route context only; they are not presented as HS 720720 product-level trade.

| Year | Route exports | Year-on-year |
| ---: | ---: | ---: |
| 1995 | $13.7K | +0.0% |
| 1999 | $1.6K | -88.0% |
| 2000 | $1.7K | +5.7% |
| 2001 | $7.0K | +303.5% |
| 2002 | $46.1K | +556.6% |
| 2003 | $183.5K | +298.2% |
| 2004 | $282.1K | +53.7% |
| 2005 | $9.9K | -96.5% |
| 2006 | $298.2K | +2902.8% |
| 2007 | $144.5K | -51.5% |
| 2008 | $135.4K | -6.3% |
| 2009 | $2.7M | +1911.5% |
| 2010 | $9.6M | +253.2% |
| 2011 | $210.8K | -97.8% |
| 2012 | $89.3K | -57.6% |
| 2013 | $1.2M | +1189.2% |
| 2014 | $4.3M | +269.2% |
| 2015 | $13.8M | +225.6% |
| 2016 | $1.0M | -92.5% |
| 2017 | $4.9M | +371.1% |
| 2018 | $6.1M | +24.8% |
| 2019 | $17.2M | +182.8% |
| 2020 | $6.5M | -62.4% |
| 2021 | $39.6M | +510.3% |
| 2022 | $27.8M | -29.8% |
| 2023 | $7.6M | -72.6% |
| 2024 | $34.2M | +349.4% |

## Related new-corridor signals

| Exporter to buyer | Product | Signal type | Buyer imports | Page |
| --- | --- | --- | ---: | --- |
| Oman to CHN | HS 270112 | New corridor | $31.4B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/omn-chn-270112) |
| Oman to SGP | HS 854232 | New corridor | $11.2B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/omn-sgp-854232) |
| Oman to USA, Puerto Rico and US Virgin Islands | HS 950450 | New corridor | $5.7B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/omn-usa-950450) |
| Oman to IRL | HS 271019 | New corridor | $3.5B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/omn-irl-271019) |
| Oman to KOR | HS 853400 | New corridor | $2.7B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/omn-kor-853400) |
| Oman to Spain | HS 260300 | New corridor | $2.5B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/omn-esp-260300) |
| Oman to USA, Puerto Rico and US Virgin Islands | HS 854232 | New corridor | $2.1B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/omn-usa-854232) |
| Oman to USA, Puerto Rico and US Virgin Islands | HS 940179 | New corridor | $1.9B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/omn-usa-940179) |

## Frequently asked questions

### What does a new corridor signal mean?

It identifies an exporter, buyer market, and HS6 combination included in the available new-corridor signal set for 2024. It is a research prompt, not a guarantee of demand or sales.

### Is the market opportunity reported trade?

Reported buyer imports and exporter share are observations. Any projection or share-gap measure is calculated from the available data and should not be treated as an order or forecast.

### What should exporters check next?

Validate product fit, buyers, tariffs, standards, logistics, pricing, competition, and the depth of product-level history before pursuing the route.

## Method

The signal is a calculated research indicator based on available reported trade observations. It is not a confirmed order, sales forecast, or guarantee of market entry. Validate buyers, tariffs, standards, logistics, pricing, and competition before acting.

## Data sources

- Primary trade series: OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-09-02). [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.