HS Icon Synthetic Fabrics

5512 (Harmonized System 1992 for 4-digit)

World Trade (2018): $2.96B, Rnk 630 / 1225

Top Exporter (2018): $1.08B, China

Top Importer (2018): $260M, Vietnam

Product Complexity (2018): -0.27, Rnk 628 / 1018

Export Growth (CAGR)(2017 - 2018): 7%, Rnk 890 / 1225

Mean Tariff (2018): 12%, Rnk 315 / 1259

Share of World Trade (2018): 0.016%, Rnk 630 / 1225

Overview: In 2018, Synthetic Fabrics were the world's 630th most traded product, with a total trade of $2.96B. Between 2017 and 2018 the exports of Synthetic Fabrics grew by 7%, from  $2.76B to $2.96B. Trade in Synthetic Fabrics represent 0.016% of total world trade.

Exports: In 2018 the top exporters of Synthetic Fabrics  were China ($1.08B), Germany ($212M), United States ($198M), South Korea ($192M), and Italy ($153M).

Imports: In 2018 the top importers of Synthetic Fabrics were Vietnam ($260M), Morocco ($157M), Germany ($133M), China ($128M), and Mexico ($123M).

Tariffs: In 2018 the average tariff for Synthetic Fabrics was 12%, been the 315 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Synthetic Fabrics are Iran (40%), Sudan (35%), Ethiopia (34.7%), Uzbekistan (28.7%), and Bahamas (26.8%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Lebanon (0%), Sri Lanka (0%), and Singapore (0%).

Ranking: Synthetic Fabrics ranks 628th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $1.08B

Top Destination (2018): Vietnam, $260M

Synthetic Fabrics are the world's 630th most traded product.

In 2018, the top exporters of Synthetic Fabrics were China ($1.08B), Germany ($212M), United States ($198M), South Korea ($192M), and Italy ($153M).

In 2018, the top importers of Synthetic Fabrics were Vietnam ($260M), Morocco ($157M), Germany ($133M), China ($128M), and Mexico ($123M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $158M

Top Destination Growth (2017 - 2018): Morocco, $121M

Between 2017 and 2018, the exports of Synthetic Fabrics grew the fastest in China ($158M), Germany ($34.3M), Italy ($26.3M), France ($18.2M), and Thailand ($14.5M).

Between 2017 and 2018, the fastest growing importers of Synthetic Fabrics were Morocco ($121M), Vietnam ($60.3M), Nigeria ($46.9M), Pakistan ($35.7M), and South Korea ($26.4M).

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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 Synthetic Fabrics.

In 2018,  market concentration measured using Shannon Entropy, was 3.84. This means that most of the exports of Synthetic Fabrics are explained by 14 countries.

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TOP NET EXPORTER (2018): China, $955M

TOP NET IMPORTER (2018): Vietnam, $240M

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

In 2018, the countries that had a largest trade value in exports than in imports of Synthetic Fabrics were China ($955M), South Korea ($120M), Italy ($109M), France ($99M), and Spain ($95.4M).

In 2018, the countries that had a largest trade value in imports than in exports of Synthetic Fabrics were Vietnam ($240M), Morocco ($154M), Mexico ($78.3M), Nigeria ($64.7M), and United Arab Emirates ($61.8M).

Trade Forecasts

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This section shows forecasts for total trade for Synthetic 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 Synthetic Fabrics was 12%.  The countries with the highest tariffs for importing Synthetic Fabrics were Iran (40%), Sudan (35%), Ethiopia (34.7%), Uzbekistan (28.7%), and Bahamas (26.8%).

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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.