HS Icon Silk Fabrics

5007 (Harmonized System 1992 for 4-digit)

World Trade (2018): $1.18B, Rnk 875 / 1225

Top Exporter (2018): $589M, China

Top Importer (2018): $183M, Italy

Product Complexity (2018): 0.76, Rnk 262 / 1018

Export Growth (CAGR)(2017 - 2018): 24.3%, Rnk 244 / 1225

Mean Tariff (2018): 13.2%, Rnk 262 / 1259

Share of World Trade (2018): 0.0064%, Rnk 875 / 1225

Overview: In 2018, Silk Fabrics were the world's 875th most traded product, with a total trade of $1.18B. Between 2017 and 2018 the exports of Silk Fabrics grew by 24.3%, from  $946M to $1.18B. Trade in Silk Fabrics represent 0.0064% of total world trade.

Exports: In 2018 the top exporters of Silk Fabrics  were China ($589M), Italy ($222M), France ($62.4M), India ($54M), and Japan ($46.3M).

Imports: In 2018 the top importers of Silk Fabrics were Italy ($183M), Pakistan ($100M), United States ($81.2M), France ($72.3M), and Hong Kong ($66.2M).

Tariffs: In 2018 the average tariff for Silk Fabrics was 13.2%, been the 262 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Silk Fabrics are Iran (70%), Ethiopia (34.7%), Cape Verde (30%), Cameroon (29.4%), and Gabon (29.4%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Hong Kong (0%), Lebanon (0%), and Sri Lanka (0%).

Ranking: Silk Fabrics ranks 262nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $589M

Top Destination (2018): Italy, $183M

Silk Fabrics are the world's 875th most traded product.

In 2018, the top exporters of Silk Fabrics were China ($589M), Italy ($222M), France ($62.4M), India ($54M), and Japan ($46.3M).

In 2018, the top importers of Silk Fabrics were Italy ($183M), Pakistan ($100M), United States ($81.2M), France ($72.3M), and Hong Kong ($66.2M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $160M

Top Destination Growth (2017 - 2018): Pakistan, $71.7M

Between 2017 and 2018, the exports of Silk Fabrics grew the fastest in China ($160M), Italy ($24.4M), France ($23.6M), Vietnam ($7.13M), and United Kingdom ($6.85M).

Between 2017 and 2018, the fastest growing importers of Silk Fabrics were Pakistan ($71.7M), Italy ($36.9M), Madagascar ($27.8M), Hong Kong ($16.3M), and Nigeria ($15M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Silk Fabrics.

In 2018,  market concentration measured using Shannon Entropy, was 2.69. This means that most of the exports of Silk Fabrics are explained by 6 countries.

TOP NET EXPORTER (2018): China, $566M

TOP NET IMPORTER (2018): Pakistan, $99.3M

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

In 2018, the countries that had a largest trade value in exports than imports of Silk Fabrics were China ($566M), Italy ($38.9M), Uzbekistan ($5.98M), South Korea ($3.46M), and India ($1.43M).

In 2018, the countries that had a largest trade value in imports than exports of Silk Fabrics were Pakistan ($99.3M), United States ($75.1M), Hong Kong ($60.2M), Madagascar ($32.6M), and Vietnam ($27.4M).

Trade Forecasts

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This section shows forecasts for total trade for Silk Fabrics. 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 Silk Fabrics was 13.2%.  The countries with the highest tariffs for importing Silk Fabrics were Iran (70%), Ethiopia (34.7%), Cape Verde (30%), Cameroon (29.4%), and Gabon (29.4%).

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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.