HS Icon Milk

0401 (Harmonized System 1992 for 4-digit)

World Trade (2018): $9.41B, Rnk 338 / 1225

Top Exporter (2018): $1.47B, Germany

Top Importer (2018): $1.47B, Germany

Product Complexity (2018): 0.008, Rnk 545 / 1018

Export Growth (CAGR)(2017 - 2018): 4.67%, Rnk 981 / 1225

Mean Tariff (2018): 51%, Rnk 4 / 1259

Share of World Trade (2018): 0.051%, Rnk 338 / 1225

Overview:  This page contains the latest trade data of Milk. In 2018, Milk were the world's 338th most traded product, with a total trade of $9.41B. Between 2017 and 2018 the exports of Milk grew by 4.67%, from  $8.99B to $9.41B. Trade in Milk represent 0.051% of total world trade.

Exports: In 2018 the top exporters of Milk  were Germany ($1.47B), Belgium-Luxembourg ($907M), Netherlands ($880M), France ($790M), and New Zealand ($527M).

Imports: In 2018 the top importers of Milk were Germany ($1.47B), China ($837M), Belgium-Luxembourg ($801M), Italy ($781M), and Netherlands ($702M).

Tariffs: In 2018 the average tariff for Milk was 51%, been the 4 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Milk are Austria (533%), Norway (370%), Cyprus (161%), Turkey (149%), and Iceland (145%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), South Africa (0%), Hong Kong (0%), and Maldives (0%).

Ranking: Milk ranks 545th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $1.47B

Top Destination (2018): Germany, $1.47B

Milk are the world's 338th most traded product.

In 2018, the top exporters of Milk were Germany ($1.47B), Belgium-Luxembourg ($907M), Netherlands ($880M), France ($790M), and New Zealand ($527M).

In 2018, the top importers of Milk were Germany ($1.47B), China ($837M), Belgium-Luxembourg ($801M), Italy ($781M), and Netherlands ($702M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United Kingdom, $228M

Top Destination Growth (2017 - 2018): Ireland, $229M

Between 2017 and 2018, the exports of Milk grew the fastest in United Kingdom ($228M), Saudi Arabia ($88.5M), Kuwait ($58.4M), United Arab Emirates ($55.4M), and Slovenia ($53.8M).

Between 2017 and 2018, the fastest growing importers of Milk were Ireland ($229M), United Arab Emirates ($91.6M), Croatia ($84.8M), Iraq ($80M), and United Kingdom ($68.9M).

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Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Milk.

In 2018,  market concentration measured using Shannon Entropy, was 4.58. This means that most of the exports of Milk are explained by 23 countries.

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TOP NET EXPORTER (2018): New Zealand, $521M

TOP NET IMPORTER (2018): China, $812M

This map shows which countries export or import more of Milk. Each country is colored based on the difference in exports and imports of Milk during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Milk were New Zealand ($521M), Czechia ($368M), France ($270M), Poland ($257M), and Austria ($231M).

In 2018, the countries that had a largest trade value in imports than in exports of Milk were China ($812M), Italy ($678M), Ireland ($177M), Russia ($161M), and Greece ($94.4M).

Trade Forecasts

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This section shows forecasts for total trade for Milk. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Import Tariffs

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In 2018, the average tariff for importing Milk was 51%.  The countries with the highest tariffs for importing Milk were Austria (533%), Norway (370%), Cyprus (161%), Turkey (149%), and Iceland (145%).

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Product Complexity

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Diversification Frontier

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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.