HS Icon Milk and cream powder unsweetened < 1.5% fat

040221 (Harmonized System 1992 for 6-digit)

World Trade (2018): $9.61B, Rnk 323 / 4726

Top Exporter (2018): $4.22B, New Zealand

Top Importer (2018): $1.93B, China

Product Complexity (2018): -1.2, Rnk 4208 / 4873

Export Growth (CAGR)(2017 - 2018): 4.66%, Rnk 3370 / 4726

Mean Tariff (2018): 25%, Rnk 209 / 6538

Share of World Trade (2018): 0.052%, Rnk 323 / 4726

Overview:  This page contains the latest trade data of Milk and cream powder unsweetened < 1.5% fat. In 2018, Milk and cream powder unsweetened < 1.5% fat were the world's 323rd most traded product, with a total trade of $9.61B. Between 2017 and 2018 the exports of Milk and cream powder unsweetened < 1.5% fat grew by 4.66%, from  $9.19B to $9.61B. Trade in Milk and cream powder unsweetened < 1.5% fat represent 0.052% of total world trade.

Exports: In 2018 the top exporters of Milk and cream powder unsweetened < 1.5% fat  were New Zealand ($4.22B), Netherlands ($775M), United Arab Emirates ($628M), Uruguay ($426M), and Argentina ($380M).

Imports: In 2018 the top importers of Milk and cream powder unsweetened < 1.5% fat were China ($1.93B), Algeria ($792M), Hong Kong ($415M), United Arab Emirates ($392M), and Saudi Arabia ($367M).

Tariffs: In 2018 the average tariff for Milk and cream powder unsweetened < 1.5% fat was 25%, been the 209 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Milk and cream powder unsweetened < 1.5% fat are Iceland (214%), Israel (199%), Turkey (179%), South Korea (173%), and Canada (160%). The countries with the lowest tariffs are Angola (0%), Mauritania (0%), Mauritius (0%), South Africa (0%), and Hong Kong (0%).

Ranking: Milk and cream powder unsweetened < 1.5% fat ranks 4208th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): New Zealand, $4.22B

Top Destination (2018): China, $1.93B

Milk and cream powder unsweetened < 1.5% fat are the world's 323rd most traded product.

In 2018, the top exporters of Milk and cream powder unsweetened < 1.5% fat were New Zealand ($4.22B), Netherlands ($775M), United Arab Emirates ($628M), Uruguay ($426M), and Argentina ($380M).

In 2018, the top importers of Milk and cream powder unsweetened < 1.5% fat were China ($1.93B), Algeria ($792M), Hong Kong ($415M), United Arab Emirates ($392M), and Saudi Arabia ($367M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United Arab Emirates, $489M

Top Destination Growth (2017 - 2018): China, $272M

Between 2017 and 2018, the exports of Milk and cream powder unsweetened < 1.5% fat grew the fastest in United Arab Emirates ($489M), Argentina ($148M), Uruguay ($82M), Ireland ($42.4M), and Sweden ($34.1M).

Between 2017 and 2018, the fastest growing importers of Milk and cream powder unsweetened < 1.5% fat were China ($272M), Saudi Arabia ($161M), Iraq ($144M), Oman ($90.6M), and Netherlands ($67.1M).

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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 and cream powder unsweetened < 1.5% fat.

In 2018,  market concentration measured using Shannon Entropy, was 3.5. This means that most of the exports of Milk and cream powder unsweetened < 1.5% fat are explained by 11 countries.

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TOP NET EXPORTER (2018): New Zealand, $4.2B

TOP NET IMPORTER (2018): China, $1.88B

This map shows which countries export or import more of Milk and cream powder unsweetened < 1.5% fat. Each country is colored based on the difference in exports and imports of Milk and cream powder unsweetened < 1.5% fat during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Milk and cream powder unsweetened < 1.5% fat were New Zealand ($4.2B), Netherlands ($604M), Uruguay ($426M), Argentina ($379M), and Ireland ($314M).

In 2018, the countries that had a largest trade value in imports than in exports of Milk and cream powder unsweetened < 1.5% fat were China ($1.88B), Algeria ($792M), Saudi Arabia ($346M), Sri Lanka ($263M), and Macau ($247M).

Trade Forecasts

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This section shows forecasts for total trade for Milk and cream powder unsweetened < 1.5% fat. 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 and cream powder unsweetened < 1.5% fat was 25%.  The countries with the highest tariffs for importing Milk and cream powder unsweetened < 1.5% fat were Iceland (214%), Israel (199%), Turkey (179%), South Korea (173%), and Canada (160%).

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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.