HS Icon Unprocessed Synthetic Staple Fibers

5503 (Harmonized System 1992 for 4-digit)

World Trade (2018): $8.51B, Rnk 369 / 1225

Top Exporter (2018): $1.45B, China

Top Importer (2018): $890M, United States

Product Complexity (2018): 0.24, Rnk 457 / 1018

Export Growth (CAGR)(2017 - 2018): 19.7%, Rnk 342 / 1225

Mean Tariff (2018): 4.41%, Rnk 927 / 1259

Share of World Trade (2018): 0.046%, Rnk 369 / 1225

Overview:  This page contains the latest trade data of Unprocessed Synthetic Staple Fibers. In 2018, Unprocessed Synthetic Staple Fibers were the world's 369th most traded product, with a total trade of $8.51B. Between 2017 and 2018 the exports of Unprocessed Synthetic Staple Fibers grew by 19.7%, from  $7.11B to $8.51B. Trade in Unprocessed Synthetic Staple Fibers represent 0.046% of total world trade.

Exports: In 2018 the top exporters of Unprocessed Synthetic Staple Fibers  were China ($1.45B), South Korea ($1.4B), Chinese Taipei ($646M), Thailand ($602M), and Japan ($489M).

Imports: In 2018 the top importers of Unprocessed Synthetic Staple Fibers were United States ($890M), China ($880M), Germany ($607M), Vietnam ($449M), and Turkey ($411M).

Tariffs: In 2018 the average tariff for Unprocessed Synthetic Staple Fibers was 4.41%, been the 927 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Unprocessed Synthetic Staple Fibers are Bahamas (40.2%), Cuba (14.7%), Maldives (14.6%), Mauritania (13%), and Aruba (12%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Unprocessed Synthetic Staple Fibers ranks 457th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $1.45B

Top Destination (2018): United States, $890M

Unprocessed Synthetic Staple Fibers are the world's 369th most traded product.

In 2018, the top exporters of Unprocessed Synthetic Staple Fibers were China ($1.45B), South Korea ($1.4B), Chinese Taipei ($646M), Thailand ($602M), and Japan ($489M).

In 2018, the top importers of Unprocessed Synthetic Staple Fibers were United States ($890M), China ($880M), Germany ($607M), Vietnam ($449M), and Turkey ($411M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Thailand, $256M

Top Destination Growth (2017 - 2018): Vietnam, $251M

Between 2017 and 2018, the exports of Unprocessed Synthetic Staple Fibers grew the fastest in Thailand ($256M), South Korea ($220M), China ($195M), Chinese Taipei ($178M), and Belgium-Luxembourg ($141M).

Between 2017 and 2018, the fastest growing importers of Unprocessed Synthetic Staple Fibers were Vietnam ($251M), China ($154M), United States ($103M), Bangladesh ($100M), and Indonesia ($61.9M).

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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 Unprocessed Synthetic Staple Fibers.

In 2018,  market concentration measured using Shannon Entropy, was 4.26. This means that most of the exports of Unprocessed Synthetic Staple Fibers are explained by 19 countries.

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TOP NET EXPORTER (2018): South Korea, $1.35B

TOP NET IMPORTER (2018): United States, $563M

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

In 2018, the countries that had a largest trade value in exports than in imports of Unprocessed Synthetic Staple Fibers were South Korea ($1.35B), Chinese Taipei ($584M), China ($569M), Thailand ($474M), and Japan ($321M).

In 2018, the countries that had a largest trade value in imports than in exports of Unprocessed Synthetic Staple Fibers were United States ($563M), Vietnam ($295M), Italy ($253M), Turkey ($252M), and Mexico ($197M).

Trade Forecasts

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This section shows forecasts for total trade for Unprocessed Synthetic Staple Fibers. 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 Unprocessed Synthetic Staple Fibers was 4.41%.  The countries with the highest tariffs for importing Unprocessed Synthetic Staple Fibers were Bahamas (40.2%), Cuba (14.7%), Maldives (14.6%), Mauritania (13%), and Aruba (12%).

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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.