HS Icon Honey

0409 (Harmonized System 1992 for 4-digit)

World Trade (2018): $2.26B, Rnk 706 / 1225

Top Exporter (2018): $251M, China

Top Importer (2018): $464M, United States

Product Complexity (2018): -1.03, Rnk 827 / 1018

Export Growth (CAGR)(2017 - 2018): -1.78%, Rnk 1118 / 1225

Mean Tariff (2018): 27.2%, Rnk 32 / 1259

Share of World Trade (2018): 0.012%, Rnk 706 / 1225

Overview: In 2018, Honey were the world's 706th most traded product, with a total trade of $2.26B. Between 2017 and 2018 the exports of Honey decreased by -1.78%, from  $2.3B to $2.26B. Trade in Honey represent 0.012% of total world trade.

Exports: In 2018 the top exporters of Honey  were China ($251M), New Zealand ($246M), Argentina ($179M), Germany ($146M), and Mexico ($121M).

Imports: In 2018 the top importers of Honey were United States ($464M), Germany ($331M), United Kingdom ($150M), Japan ($141M), and France ($133M).

Tariffs: In 2018 the average tariff for Honey was 27.2%, been the 32 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Honey are South Korea (239%), Iran (90%), Israel (73.9%), Cyprus (72.4%), and India (51.2%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Maldives (0%), Singapore (0%), and Bosnia and Herzegovina (0%).

Ranking: Honey ranks 827th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $251M

Top Destination (2018): United States, $464M

Honey are the world's 706th most traded product.

In 2018, the top exporters of Honey were China ($251M), New Zealand ($246M), Argentina ($179M), Germany ($146M), and Mexico ($121M).

In 2018, the top importers of Honey were United States ($464M), Germany ($331M), United Kingdom ($150M), Japan ($141M), and France ($133M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Mexico, $23.4M

Top Destination Growth (2017 - 2018): United Kingdom, $19.5M

Between 2017 and 2018, the exports of Honey grew the fastest in Mexico ($23.4M), Belgium-Luxembourg ($19.2M), Yemen ($13.2M), Chile ($11.3M), and Poland ($10.6M).

Between 2017 and 2018, the fastest growing importers of Honey were United Kingdom ($19.5M), Italy ($15.4M), Saudi Arabia ($12.7M), Germany ($12.4M), and Australia ($8.82M).

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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 Honey.

In 2018,  market concentration measured using Shannon Entropy, was 4.83. This means that most of the exports of Honey are explained by 28 countries.

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TOP NET EXPORTER (2018): New Zealand, $246M

TOP NET IMPORTER (2018): United States, $443M

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

In 2018, the countries that had a largest trade value in exports than in imports of Honey were New Zealand ($246M), China ($192M), Argentina ($179M), Mexico ($121M), and India ($101M).

In 2018, the countries that had a largest trade value in imports than in exports of Honey were United States ($443M), Germany ($185M), Japan ($141M), United Kingdom ($119M), and France ($101M).

Trade Forecasts

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This section shows forecasts for total trade for Honey. 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 Honey was 27.2%.  The countries with the highest tariffs for importing Honey were South Korea (239%), Iran (90%), Israel (73.9%), Cyprus (72.4%), and India (51.2%).

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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.