HS Icon Hand-Woven Rugs

5702 (Harmonized System 1992 for 4-digit)

World Trade (2018): $5.12B, Rnk 492 / 1225

Top Exporter (2018): $1.92B, Turkey

Top Importer (2018): $1.35B, United States

Product Complexity (2018): -1.06, Rnk 836 / 1018

Export Growth (CAGR)(2017 - 2018): 12.9%, Rnk 619 / 1225

Mean Tariff (2018): 19.2%, Rnk 122 / 1259

Share of World Trade (2018): 0.028%, Rnk 492 / 1225

Overview:  This page contains the latest trade data of Hand-Woven Rugs. In 2018, Hand-Woven Rugs were the world's 492nd most traded product, with a total trade of $5.12B. Between 2017 and 2018 the exports of Hand-Woven Rugs grew by 12.9%, from  $4.54B to $5.12B. Trade in Hand-Woven Rugs represent 0.028% of total world trade.

Exports: In 2018 the top exporters of Hand-Woven Rugs  were Turkey ($1.92B), India ($658M), China ($512M), Belgium-Luxembourg ($462M), and Egypt ($236M).

Imports: In 2018 the top importers of Hand-Woven Rugs were United States ($1.35B), Germany ($359M), Saudi Arabia ($314M), United Kingdom ($192M), and France ($162M).

Tariffs: In 2018 the average tariff for Hand-Woven Rugs was 19.2%, been the 122 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Hand-Woven Rugs are Syria (73.5%), Turkmenistan (50%), Iran (50%), Cape Verde (50%), and Egypt (45%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Singapore (0%), Switzerland (0%), and Norway (0%).

Ranking: Hand-Woven Rugs ranks 836th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Turkey, $1.92B

Top Destination (2018): United States, $1.35B

Hand-Woven Rugs are the world's 492nd most traded product.

In 2018, the top exporters of Hand-Woven Rugs were Turkey ($1.92B), India ($658M), China ($512M), Belgium-Luxembourg ($462M), and Egypt ($236M).

In 2018, the top importers of Hand-Woven Rugs were United States ($1.35B), Germany ($359M), Saudi Arabia ($314M), United Kingdom ($192M), and France ($162M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Turkey, $151M

Top Destination Growth (2017 - 2018): United States, $174M

Between 2017 and 2018, the exports of Hand-Woven Rugs grew the fastest in Turkey ($151M), China ($49.5M), United States ($35.5M), Germany ($33.6M), and Saudi Arabia ($31.9M).

Between 2017 and 2018, the fastest growing importers of Hand-Woven Rugs were United States ($174M), Germany ($50.5M), Egypt ($47.2M), United Arab Emirates ($30.3M), and France ($19.2M).

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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 Hand-Woven Rugs.

In 2018,  market concentration measured using Shannon Entropy, was 3.61. This means that most of the exports of Hand-Woven Rugs are explained by 12 countries.

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TOP NET EXPORTER (2018): Turkey, $1.91B

TOP NET IMPORTER (2018): United States, $1.27B

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

In 2018, the countries that had a largest trade value in exports than in imports of Hand-Woven Rugs were Turkey ($1.91B), India ($631M), China ($455M), Belgium-Luxembourg ($391M), and Egypt ($167M).

In 2018, the countries that had a largest trade value in imports than in exports of Hand-Woven Rugs were United States ($1.27B), Saudi Arabia ($271M), Germany ($217M), France ($137M), and Japan ($130M).

Trade Forecasts

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This section shows forecasts for total trade for Hand-Woven Rugs. 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 Hand-Woven Rugs was 19.2%.  The countries with the highest tariffs for importing Hand-Woven Rugs were Syria (73.5%), Turkmenistan (50%), Iran (50%), Cape Verde (50%), and Egypt (45%).

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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.