HS Icon Wool

5101 (Harmonized System 1992 for 4-digit)

World Trade (2018): $4.72B, Rnk 519 / 1225

Top Exporter (2018): $2.99B, Australia

Top Importer (2018): $3B, China

Product Complexity (2018): -1.67, Rnk 964 / 1018

Export Growth (CAGR)(2017 - 2018): 9.61%, Rnk 798 / 1225

Mean Tariff (2018): 3.45%, Rnk 1089 / 1259

Share of World Trade (2018): 0.026%, Rnk 519 / 1225

Overview:  This page contains the latest trade data of Wool. In 2018, Wool were the world's 519th most traded product, with a total trade of $4.72B. Between 2017 and 2018 the exports of Wool grew by 9.61%, from  $4.31B to $4.72B. Trade in Wool represent 0.026% of total world trade.

Exports: In 2018 the top exporters of Wool  were Australia ($2.99B), South Africa ($429M), New Zealand ($421M), Uruguay ($114M), and Argentina ($88.8M).

Imports: In 2018 the top importers of Wool were China ($3B), India ($364M), Italy ($296M), Czechia ($239M), and South Korea ($102M).

Tariffs: In 2018 the average tariff for Wool was 3.45%, been the 1089 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Wool are Bahamas (40.2%), Sudan (21.9%), China (18.9%), Maldives (14.6%), and Azerbaijan (14.4%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Wool ranks 964th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Australia, $2.99B

Top Destination (2018): China, $3B

Wool are the world's 519th most traded product.

In 2018, the top exporters of Wool were Australia ($2.99B), South Africa ($429M), New Zealand ($421M), Uruguay ($114M), and Argentina ($88.8M).

In 2018, the top importers of Wool were China ($3B), India ($364M), Italy ($296M), Czechia ($239M), and South Korea ($102M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Australia, $280M

Top Destination Growth (2017 - 2018): China, $185M

Between 2017 and 2018, the exports of Wool grew the fastest in Australia ($280M), South Africa ($53.2M), New Zealand ($52.7M), Uruguay ($21.9M), and Argentina ($20.4M).

Between 2017 and 2018, the fastest growing importers of Wool were China ($185M), India ($155M), Italy ($44.8M), Czechia ($26.3M), and Uruguay ($17.7M).

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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 Wool.

In 2018,  market concentration measured using Shannon Entropy, was 2.4. This means that most of the exports of Wool are explained by 5 countries.

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TOP NET EXPORTER (2018): Australia, $2.98B

TOP NET IMPORTER (2018): China, $2.95B

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

In 2018, the countries that had a largest trade value in exports than in imports of Wool were Australia ($2.98B), South Africa ($424M), New Zealand ($420M), Argentina ($88.8M), and Uruguay ($49.5M).

In 2018, the countries that had a largest trade value in imports than in exports of Wool were China ($2.95B), India ($360M), Italy ($273M), Czechia ($239M), and South Korea ($102M).

Trade Forecasts

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This section shows forecasts for total trade for Wool. 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 Wool was 3.45%.  The countries with the highest tariffs for importing Wool were Bahamas (40.2%), Sudan (21.9%), China (18.9%), Maldives (14.6%), and Azerbaijan (14.4%).

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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.