HS Icon Fermented Milk Products

0403 (Harmonized System 1992 for 4-digit)

World Trade (2018): $4.64B, Rnk 526 / 1225

Top Exporter (2018): $974M, Germany

Top Importer (2018): $513M, United Kingdom

Product Complexity (2018): 0.11, Rnk 500 / 1018

Export Growth (CAGR)(2017 - 2018): 13.5%, Rnk 592 / 1225

Mean Tariff (2018): 33.5%, Rnk 13 / 1259

Share of World Trade (2018): 0.025%, Rnk 526 / 1225

Overview: In 2018, Fermented Milk Products were the world's 526th most traded product, with a total trade of $4.64B. Between 2017 and 2018 the exports of Fermented Milk Products grew by 13.5%, from  $4.09B to $4.64B. Trade in Fermented Milk Products represent 0.025% of total world trade.

Exports: In 2018 the top exporters of Fermented Milk Products  were Germany ($974M), France ($625M), Belgium-Luxembourg ($316M), Saudi Arabia ($249M), and Greece ($212M).

Imports: In 2018 the top importers of Fermented Milk Products were United Kingdom ($513M), Italy ($404M), Spain ($279M), Netherlands ($271M), and Belgium-Luxembourg ($225M).

Tariffs: In 2018 the average tariff for Fermented Milk Products was 33.5%, been the 13 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Fermented Milk Products are Austria (210%), Cyprus (187%), Turkey (168%), Canada (124%), and Morocco (83.4%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Hong Kong (0%), Maldives (0%), and Singapore (0%).

Ranking: Fermented Milk Products ranks 500th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $974M

Top Destination (2018): United Kingdom, $513M

Fermented Milk Products are the world's 526th most traded product.

In 2018, the top exporters of Fermented Milk Products were Germany ($974M), France ($625M), Belgium-Luxembourg ($316M), Saudi Arabia ($249M), and Greece ($212M).

In 2018, the top importers of Fermented Milk Products were United Kingdom ($513M), Italy ($404M), Spain ($279M), Netherlands ($271M), and Belgium-Luxembourg ($225M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Saudi Arabia, $123M

Top Destination Growth (2017 - 2018): United Arab Emirates, $80.1M

Between 2017 and 2018, the exports of Fermented Milk Products grew the fastest in Saudi Arabia ($123M), Thailand ($120M), Belgium-Luxembourg ($38M), Belarus ($23M), and Germany ($21.4M).

Between 2017 and 2018, the fastest growing importers of Fermented Milk Products were United Arab Emirates ($80.1M), Spain ($42.2M), Philippines ($40.2M), Bahrain ($38.2M), and Singapore ($33.4M).

Market Concentration

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Cumulative market share

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

In 2018,  market concentration measured using Shannon Entropy, was 4.56. This means that most of the exports of Fermented Milk Products are explained by 23 countries.

TOP NET EXPORTER (2018): Germany, $762M

TOP NET IMPORTER (2018): United Kingdom, $413M

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

In 2018, the countries that had a largest trade value in exports than imports of Fermented Milk Products were Germany ($762M), France ($491M), Saudi Arabia ($229M), Greece ($190M), and Belarus ($142M).

In 2018, the countries that had a largest trade value in imports than exports of Fermented Milk Products were United Kingdom ($413M), Italy ($377M), Netherlands ($154M), Portugal ($129M), and Philippines ($119M).

Trade Forecasts

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This section shows forecasts for total trade for Fermented Milk Products. 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 Fermented Milk Products was 33.5%.  The countries with the highest tariffs for importing Fermented Milk Products were Austria (210%), Cyprus (187%), Turkey (168%), Canada (124%), and Morocco (83.4%).

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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.