China's exports of articles of iron or steel have shown varied trends over the years, with a notable increase from USD 57.35 billion in 2013 to USD 104.36 billion in 2023. The actual data indicate fluctuating growth rates with significant year-on-year variations, such as a sharp increase of 34.48% in 2021 followed by a more moderate growth rate of around 4.5% in the subsequent years. The compound annual growth rate (CAGR) for the past five years up to 2023 stands at 9.89%, highlighting sustained growth despite some annual fluctuations.
Looking ahead, the forecast for 2024 onwards suggests a steady upward trend, with a forecasted value reaching USD 126.02 billion by 2028, resulting in a forecasted five-year CAGR of 2.99%. This indicates a moderated but stable growth trajectory for China's iron or steel article exports over the next five years, reflecting a forecasted cumulative growth rate of 15.85% by 2028.
**Future trends to watch for:** - Global economic conditions affecting trade dynamics.- Changes in steel production and export policies in China.- Demand fluctuations in key importing countries.- Impact of technological advancements and efficiency improvements in manufacturing and export logistics.
