The 2011 Import and Export
Market for Iron or Steel
Radiators and Their Parts in
the United States
By
Professor Philip M. Parker, Ph. D.
Chaired Professor of Management Science
INSEAD (Singapore & Fontainebleau, France)
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About the Author
Dr. Philip M. Parker is the Eli Lilly Chaired Professor of Innovation, Business and Society at
INSEAD where he has taught courses on multivariate statistics and global competitive strategy
since 1988. He has also taught courses at MIT, Stanford University, Harvard University, UCLA,
UCSD, and the Hong Kong University of Science and Technology. He is the author of six books
on the economic convergence of nations. These books introduce the notion of “physioeconomics”
which foresees a lack of global convergence in economic behaviors due to physiological and
physiographic forces. His latest book is "Physioeconomics: The Basis for Long-Run Economic
Growth" (MIT Press 2000). He has also published numerous articles in academic journals,
including The Rand Journal of Economics, Marketing Science, the Journal of International
Business Studies, Technological Forecasting and Social Change, International Journal of
Forecasting, the European Management Journal, the European Journal of Operational
Research, Journal of Marketing, International Journal of Research in Marketing, and Journal of
Marketing Research. He is also on the editorial boards of several academic journals.
Dr. Parker received his Ph.D. in Business Economics from the Wharton School of the University
of Pennsylvania and has Masters degrees in Finance and Banking (University of Aix-Marseille)
and Managerial Economics (Wharton). His undergraduate degrees are in mathematics, biology
and economics (minor in aeronautical engineering). He has consulted and/or taught courses in
Africa, the Middle East, Asia, Latin America, North America and Europe.
About this Series
This series was created for international firms who rely on foreign export markets for a
substantial portion of their business or who might be threatened by foreign trade competition.
The estimates given in this report were created using a methodology developed by and under the
direct supervision of Professor Philip M. Parker, the Eli Lilly Chaired Professor of Innovation,
Business and Society, at INSEAD. The methodology, relying on historical figures of economic
growth and trade flows, estimates the market shares of some 150 countries for over 500 industrial
or product categories. The figures should be seen as market estimates, as opposed to historical
records, as these are projected for the current year of trade.
Acknowledgements
Some of the methodologies and research approaches used in this report have benefited from the
R&D Committee at INSEAD, whose research support is gratefully acknowledged. Additional
editorial assistance from Tiffany LaRochelle, ICON Group International, Inc., is also
acknowledged.
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Contents v
Table of Contents
1 INTRODUCTION AND METHODOLOGY 7
2 THE UNITED STATES AND THE WORLD MARKET 9
2.1 Imports in the United States in 2011 9
2.2 Exports from the United States in 2011 10
3 IMPORTS IN THE UNITED STATES 11
3.1 Asia 11
3.1.1 China 11
3.1.2 Hong Kong 12
3.1.3 India 12
3.1.4 Japan 13
3.1.5 South Korea 13
3.1.6 Taiwan 14
3.2 Europe 14
3.2.1 Austria 14
3.2.2 Belgium 15
3.2.3 Denmark 16
3.2.4 Finland 17
3.2.5 France 18
3.2.6 Germany 19
3.2.7 Ireland 20
3.2.8 Italy 21
3.2.9 Poland 22
3.2.10 the Netherlands 23
3.3 Latin America 24
3.3.1 Mexico 24
3.4 North America & the Caribbean 24
3.4.1 Canada 24
3.5 Oceana 24
3.5.1 Australia 24
4 EXPORTS FROM THE UNITED STATES 25
4.1 Asia 25
4.1.1 China 25
4.1.2 Indonesia 26
4.1.3 Japan 26
4.1.4 Malaysia 27
4.1.5 Singapore 27
4.1.6 South Korea 28
4.1.7 Thailand 28
4.2 Europe 29
4.2.1 Belgium 29
4.2.2 France 30
4.2.3 Germany 31
4.2.4 Iceland 32
4.2.5 Russia 33
4.3 Latin America 34
4.3.1 Argentina 34
4.3.2 Bolivia 34
4.3.3 Brazil 34
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Contents vi
4.3.4 Colombia 35
4.3.5 Ecuador 35
4.3.6 Guatemala 35
4.3.7 Honduras 36
4.3.8 Mexico 36
4.3.9 Peru 36
4.4 North America & the Caribbean 37
4.4.1 Canada 37
4.5 Oceana 37
4.5.1 Australia 37
4.6 the Middle East 38
4.6.1 Jordan 38
4.6.2 Pakistan 38
4.6.3 Saudi Arabia 39
5 DISCLAIMERS, WARRANTEES, AND USER AGREEMENT PROVISIONS 40
5.1 Disclaimers & Safe Harbor 40
5.2 ICON Group Ltd. User Agreement Provisions 41
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Iron or Steel Radiators and Their Parts in the United States 7
1 INTRODUCTION AND METHODOLOGY
On the demand side, exporters and strategic planners focusing on iron or steel radiators and their
parts in the United States face a number of questions. Which countries are supplying iron or steel
radiators and their parts to the United States? How important is the United States compared to
others in terms of the entire global and regional market? How much do the imports of iron or
steel radiators and their parts vary from one country of origin to another in the United States? On
the supply side, the United States also exports iron or steel radiators and their parts. Which
countries receive the most exports from the United States? How are these exports concentrated
across buyers? What is the value of these exports and which countries are the largest buyers?
This report was created for strategic planners, international marketing executives and
import/export managers who are concerned with the market for iron or steel radiators and their
parts in the United States. With the globalization of this market, managers can no longer be
contented with a local view. Nor can managers be contented with out-of-date statistics which
appear several years after the fact. I have developed a methodology, based on macroeconomic
and trade models, to estimate the market for iron or steel radiators and their parts for those
countries serving the United States via exports, or supplying from the United States via imports.
It does so for the current year based on a variety of key historical indicators and econometric
models.
In what follows, Chapter 2 begins by summarizing where the United States fits into the world
market for imported and exported iron or steel radiators and their parts. The total level of imports
and exports on a worldwide basis, and those for the United States in particular, is estimated using
a model which aggregates across over 150 key country markets and projects these to the current
year. From there, each country represents a percent of the world market. This market is served
from a number of competitive countries of origin. Based on both demand- and supply-side
dynamics, market shares by country of origin are then calculated across each country market
destination. These shares lead to a volume of import and export values for each country and are
aggregated to regional and world totals. In doing so, we are able to obtain maximum likelihood
estimates of both the value of each market and the share that the United States is likely to receive
this year. From these figures, rankings are calculated to allow managers to prioritize the United
States compared to other major country markets. In this way, all the figures provided in this
report are forecasts that can be combined with internal information sources for strategic planning
purposes.
After the worldwide summary in Chapter 2 of both imports and exports of iron or steel radiators
and their parts, Chapter 3 goes into detail on imports, but for each major country of origin serving
the United States. A “major” market is defined as a country where the United States represents a
substantially large share of either imports or exports. For each major country exporting to the
United States, one can thus observe how important the United States is to that exporting country
compared to other countries of the world. Chapter 4 does the same, but for exports of iron or
steel radiators and their parts originating from the United States, for each major country of
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Iron or Steel Radiators and Their Parts in the United States 8
destination. In doing so, one can discover the share that the United States has in each major
market; this share value is often used as a measure of competitiveness for the United States. In
all cases, the total dollar volume and percentage share values by major trading partner are
provided. Combined, Chapters 3 and 4 present a the total picture for imports and exports of iron
or steel radiators and their parts to and from the United States to and from all other major
countries in the world. "Iron or Steel Radiators and Their Parts" as a category is defined in this
report following the definition given by the United Nations Statistics Division Classification
Registry using the Standard International Trade Classification, Revision 3 (SITC, Rev. 3). The
SITC code that defined "iron or steel radiators and their parts" is 81211 . For more information
on this definition, please refer to the following web site:
http://unstats.un.org/unsd/cr/registry/regcs.asp?Cl=14&Lg=1&Co=812 .
This report is updated on an annual basis. To ensure that you have the most current version,
please check the web site of ICON Group at www.icongrouponline.com.
Important Caveat. The figures should be seen as market estimates, as opposed to historical
records, as these are forecasted for the current year of trade. More importantly, in light of the fact
that unforeseeable factors might interrupt markets in achieving their reported levels, the figures
should be seen as estimates of potential. For example, "mad cow" disease, foot-and-mouth
disease, trade embargoes, military conflicts, acts of terrorism and other events will certainly
affect the actual trade flows recorded for a variety of industry or product categories. In such
cases, the difference between the numbers given in this report and the numbers actually observed
might be interpreted as the "net loss" or "net gain" due to these exogenous events affecting
regular trade flows that would have occurred had these events not have taken place.
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Iron or Steel Radiators and Their Parts in the United States 9
2 THE UNITED STATES AND THE WORLD MARKET
2.1 IMPORTS IN THE UNITED STATES IN 2011
Imported Iron or Steel Radiators and Their Parts in the United States, 2011
(Structure of Foreign Import Competition)
Country of Origin Rank Value (000 US$) % Share Cumulative %
_________________________________________________________________________________________________________
China 1 10,886 43.65 43.65
Canada 2 8,270 33.16 76.80
Germany 3 1,475 5.91 82.72
India 4 1,214 4.87 87.58
Japan 5 1,013 4.06 91.64
Taiwan 6 461 1.85 93.49
Italy 7 388 1.56 95.05
France 8 291 1.17 96.22
Belgium 9 261 1.05 97.26
Finland 10 147 0.59 97.85
Austria 11 119 0.48 98.33
the Netherlands 12 97 0.39 98.72
Denmark 13 82 0.33 99.05
South Korea 14 63 0.25 99.30
Poland 15 54 0.22 99.51
Australia 16 33 0.13 99.65
Hong Kong 17 31 0.12 99.77
Mexico 18 27 0.11 99.88
Turkey 19 27 0.11 99.99
Ireland 20 3 0.01 100.00
Total 24,942 100.00 100.00
_________________________________________________________________________________________________________
Source: Philip M. PARKER, Professor, INSEAD, copyright 2011, www.icongrouponline.com
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Iron or Steel Radiators and Their Parts in the United States 10
2.2 EXPORTS FROM THE UNITED STATES IN 2011
Iron or Steel Radiators and Their Parts Exports from the United States, 2011
Country of Destination Rank Value (000 US$) % Share Cumulative %
______________________________________________________________________________________________