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2022
Exports $208MWorld Rnk 1 / 82
Flag Rnk 1766 / 4606
falsefalse Turkey
2021 - 2022
FASTEST GROWING MARKETfalseBrazil
2022
Imports $1.4MWorld Rnk 51 / 167
Flag Rnk 3839 / 4539
2021 - 2022
FASTEST GROWING ORIGINfalseN/A
2022
ECONOMIC COMPLEXITY of China1.12Rnk 22 / 133

About

Exports In 2022, China exported $208M in Formic acid, making it the 1st largest exporter of Formic acid in the world. At the same year, Formic acid was the 1766th most exported product in China. The main destination of Formic acid exports from China are: Turkey ($18.3M), Brazil ($16.8M), India ($13.8M), Vietnam ($13.6M), and Japan ($11.7M).

The fastest growing export markets for Formic acid of China between 2021 and 2022 were Brazil ($9.2M), Russia ($6.07M), and Japan ($5.97M).

Imports In 2022, China imported $1.4M in Formic acid, becoming the 51st largest importer of Formic acid in the world. At the same year, Formic acid was the 3839th most imported product in China. China imports Formic acid primarily from: United States ($496k), Czechia ($266k), Finland ($198k), United Kingdom ($119k), and Germany ($100k).

COMPANIES In 2023, leading companies such as CrimsonLogic (98.6k), IKEA Group (48.7k), and Itourscm (19.1k) were at the forefront of shipping Formic acid from China to the United States.

Latest Trends

July 2024

About

Overview In July 2024 China's Formic acid exports accounted up to $10.7M and imports accounted up to $35.8k, resulting in a positive trade balance of $10.7M. Between July 2023 and July 2024 the exports of China's   Formic acid have decreased by $-7.4M (-40.9%) from $18.1M to $10.7M, while imports decreased by $-60.4k (-62.8%) from $96.1k to $35.8k.

Destinations In July 2024, Formic acid were exported mostly to Turkey ($1.11M), Russia ($903k), Vietnam ($762k), India ($635k), and Thailand ($572k), and were imported mostly from United States ($15.4k), Finland ($11.5k), Germany ($4.9k), France ($2.43k), and Czechia ($1.03k).

Growth In July 2024, the decrease in Formic acid's year-by-year exports was explained primarily by a decrease in exports to Brazil ($-1.52M or -78.2%), Malaysia ($-863k or -80.2%), and Italy ($-646k or -66.3%). In July 2024, the decrease in Formic acid's year-by-year imports was explained primarily by a decrease in imports from Finland ($-26k or -70.2%), United States ($-25.4k or -76.5%), and Czechia ($-9.75k or -77.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-7.4M(-40.9%)
IMPORT GROWTH (July 2023 - July 2024)$-60.4k(-62.8%)
MAIN EXPORTER (July 2024)Shandong Province$9.87M
MAIN DESTINATION (July 2024)Turkey$1.11M

This section shows Formic acid's exports and imports data at subnational level for China. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Formic acid over time.

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Unit Prices

Flow
Value

The following visualization shows the unit prices for Formic acid throughout time. Products without a clear unit are excluded.

Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$208M
IMPORTS (2022)$1.4M
NET TRADE (2022)$207M

In 2022, China exported $208M in Formic acid. The main destinations of China exports on Formic acid were Turkey ($18.3M), Brazil ($16.8M), India ($13.8M), Vietnam ($13.6M), and Japan ($11.7M).

In 2022, China imported $1.4M in Formic acid, mainly from United States ($496k), Czechia ($266k), Finland ($198k), United Kingdom ($119k), and Germany ($100k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Formic acid EXPORT MARKETS FOR China WERE (2021 - 2022):
Brazil$9.2M (121%)
Russia$6.07M (155%)
Japan$5.97M (104%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Formic acid BY China WERE (2021 - 2022):
India-$4.69M (-25.4%)
Germany-$2.2M (-76.3%)
Thailand-$1.76M (-19.3%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, China's main exporting competitors in Formic acid were:
Germany $104M
Finland $38.6M
In 2022, China's main importing competitors in Formic acid were:
Netherlands $50.3M
Brazil $30.1M
Italy $29.7M

Explore Visualizations

Trade Value of Formic acid by Exporters

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