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291513 (Harmonized System 1992 for 6-digit)

2023
World Trade $46.6MRnk 4339 / 4644
2023
Top Exporter | Top Importer $12.8M | $8.63MChina | United States
2023
Product Complexity 1.39Rnk 252 / 4656
2022 - 2023
Export Growth (CAGR) -4.91%Rnk 2090 / 4644
2023
Share of World Trade 0.00021%Rnk 4339 / 4644

About

Overview This page contains the latest trade data of Esters of formic acid. In 2023, Esters of formic acid were the world's 4339th most traded product, with a total trade of $46.6M. Between 2022 and 2023 the exports of Esters of formic acid decreased by -4.91%, from $49M to $46.6M. Trade in Esters of formic acid represent 0.00021% of total world trade.

Esters of formic acid are a part of Saturated Acyclic Monocarboxylic Acids.

Exports In 2023 the top exporters of Esters of formic acid  were China ($12.8M), Germany ($4.53M), India ($4.52M), United Kingdom ($4.27M), and United States ($3.93M).

Imports In 2023 the top importers of Esters of formic acid were United States ($8.63M), India ($5.39M), Saudi Arabia ($2.85M), Brazil ($2.17M), and Germany ($1.94M).

Ranking Esters of formic acid ranks 252nd in the Product Complexity Index (PCI).

Description Formic acid reacts with alcohol to form esters, which are compounds that contain both the acidic hydrogen and the alcohol. Esters can be used as solvents, plasticizers, and preservatives.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Esters of formic acid. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)China$12.8M
Top Destination (2023)United States$8.63M

In 2023 Esters of formic acid were the world's 4339th most traded product (out of 4,644).

In 2023, the top exporters of Esters of formic acid were China ($12.8M), Germany ($4.53M), India ($4.52M), United Kingdom ($4.27M), and United States ($3.93M).

In 2023, the top importers of Esters of formic acid were United States ($8.63M), India ($5.39M), Saudi Arabia ($2.85M), Brazil ($2.17M), and Germany ($1.94M).

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Exporters of Esters of formic acid (2023)
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Importers of Esters of formic acid (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Finland$1.31M
Top Destination Growth (2022 -  2023)India$2.45M

Between 2022 and 2023, the exports of Esters of formic acid grew the fastest in Finland ($1.31M), China ($1.06M), Switzerland ($673k), Saudi Arabia ($672k), and Canada ($280k).

Between 2022 and 2023, the fastest growing importers of Esters of formic acid were India ($2.45M), United States ($2.01M), Gabon ($859k), Malaysia ($449k), and Ireland ($364k).

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Exporters of Esters of formic acid (2022 - 2023)

Importers of Esters of formic acid (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Esters of formic acid.

In 2023, market concentration measured using Shannon Entropy, was 3.61. This means that most of the exports of Esters of formic acid are explained by 12 countries.

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Value of Exports in Esters of formic acid

Net Trade

TOP NET EXPORTER (2023)China$12M
TOP NET IMPORTER (2023)United States$4.7M

This map shows which countries export or import more of Esters of formic acid. Each country is colored based on the difference in exports and imports of Esters of formic acid during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Esters of formic acid were China ($12M), Germany ($2.59M), United Kingdom ($2.49M), Finland ($2.43M), and Canada ($1.63M).

In 2023, the countries that had a largest trade value in imports than in exports of Esters of formic acid were United States ($4.7M), Brazil ($2.15M), Saudi Arabia ($1.93M), Singapore ($1.73M), and Russia ($1.09M).

Net Trade (2023)

Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Esters of formic acid.
It is possible to select the main countries that export or import Esters of formic acid in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Esters of formic acid by percentage of total exports

Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2023)

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