HS Icon Concentrated Milk

0402 (Harmonized System 1992 for 4-digit)

World Trade (2018): $19.4B, Rnk 192 / 1225

Top Exporter (2018): $5.08B, New Zealand

Top Importer (2018): $2.75B, China

Product Complexity (2018): -0.93, Rnk 802 / 1018

Export Growth (CAGR)(2017 - 2018): 2.3%, Rnk 1031 / 1225

Mean Tariff (2018): 26.3%, Rnk 37 / 1259

Share of World Trade (2018): 0.11%, Rnk 192 / 1225

Overview:  This page contains the latest trade data of Concentrated Milk. In 2018, Concentrated Milk were the world's 192nd most traded product, with a total trade of $19.4B. Between 2017 and 2018 the exports of Concentrated Milk grew by 2.3%, from  $18.9B to $19.4B. Trade in Concentrated Milk represent 0.11% of total world trade.

Exports: In 2018 the top exporters of Concentrated Milk  were New Zealand ($5.08B), Netherlands ($1.76B), United States ($1.5B), Germany ($1.36B), and Belgium-Luxembourg ($883M).

Imports: In 2018 the top importers of Concentrated Milk were China ($2.75B), Algeria ($1.11B), Mexico ($743M), Netherlands ($739M), and United Arab Emirates ($715M).

Tariffs: In 2018 the average tariff for Concentrated Milk was 26.3%, been the 37 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Concentrated Milk are Iceland (282%), Turkey (179%), Canada (164%), Israel (142%), and South Korea (139%). The countries with the lowest tariffs are Angola (0%), Mauritania (0%), Mauritius (0%), South Africa (0%), and Hong Kong (0%).

Ranking: Concentrated Milk ranks 802nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): New Zealand, $5.08B

Top Destination (2018): China, $2.75B

Concentrated Milk are the world's 192nd most traded product.

In 2018, the top exporters of Concentrated Milk were New Zealand ($5.08B), Netherlands ($1.76B), United States ($1.5B), Germany ($1.36B), and Belgium-Luxembourg ($883M).

In 2018, the top importers of Concentrated Milk were China ($2.75B), Algeria ($1.11B), Mexico ($743M), Netherlands ($739M), and United Arab Emirates ($715M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United Arab Emirates, $599M

Top Destination Growth (2017 - 2018): China, $287M

Between 2017 and 2018, the exports of Concentrated Milk grew the fastest in United Arab Emirates ($599M), Saudi Arabia ($267M), Argentina ($139M), United States ($129M), and Uruguay ($74.3M).

Between 2017 and 2018, the fastest growing importers of Concentrated Milk were China ($287M), Saudi Arabia ($287M), Iraq ($174M), Netherlands ($134M), and Oman ($105M).

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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 Concentrated Milk.

In 2018,  market concentration measured using Shannon Entropy, was 4.33. This means that most of the exports of Concentrated Milk are explained by 20 countries.

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TOP NET EXPORTER (2018): New Zealand, $5.03B

TOP NET IMPORTER (2018): China, $2.68B

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

In 2018, the countries that had a largest trade value in exports than in imports of Concentrated Milk were New Zealand ($5.03B), United States ($1.39B), Germany ($1.05B), Netherlands ($1.02B), and Australia ($564M).

In 2018, the countries that had a largest trade value in imports than in exports of Concentrated Milk were China ($2.68B), Algeria ($1.11B), Mexico ($524M), Indonesia ($481M), and Philippines ($391M).

Trade Forecasts

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This section shows forecasts for total trade for Concentrated 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 Concentrated Milk was 26.3%.  The countries with the highest tariffs for importing Concentrated Milk were Iceland (282%), Turkey (179%), Canada (164%), Israel (142%), and South Korea (139%).

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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.