HS Icon Tufted Carpets

5703 (Harmonized System 1992 for 4-digit)

World Trade (2018): $7.58B, Rnk 399 / 1225

Top Exporter (2018): $1.57B, China

Top Importer (2018): $1.02B, United States

Product Complexity (2018): 0.28, Rnk 445 / 1018

Export Growth (CAGR)(2017 - 2018): 11%, Rnk 724 / 1225

Mean Tariff (2018): 18.1%, Rnk 139 / 1259

Share of World Trade (2018): 0.041%, Rnk 399 / 1225

Overview:  This page contains the latest trade data of Tufted Carpets. In 2018, Tufted Carpets were the world's 399th most traded product, with a total trade of $7.58B. Between 2017 and 2018 the exports of Tufted Carpets grew by 11%, from  $6.84B to $7.58B. Trade in Tufted Carpets represent 0.041% of total world trade.

Exports: In 2018 the top exporters of Tufted Carpets  were China ($1.57B), Belgium-Luxembourg ($1.01B), Netherlands ($976M), United States ($735M), and India ($542M).

Imports: In 2018 the top importers of Tufted Carpets were United States ($1.02B), United Kingdom ($899M), Germany ($610M), Canada ($575M), and Netherlands ($341M).

Tariffs: In 2018 the average tariff for Tufted Carpets was 18.1%, been the 139 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Tufted Carpets are Syria (73.5%), Iran (50%), Cape Verde (50%), Egypt (45%), and Bahamas (41.3%). The countries with the lowest tariffs are Mauritius (0%), Armenia (0%), Hong Kong (0%), Kazakhstan (0%), and Kyrgyzstan (0%).

Ranking: Tufted Carpets ranks 445th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $1.57B

Top Destination (2018): United States, $1.02B

Tufted Carpets are the world's 399th most traded product.

In 2018, the top exporters of Tufted Carpets were China ($1.57B), Belgium-Luxembourg ($1.01B), Netherlands ($976M), United States ($735M), and India ($542M).

In 2018, the top importers of Tufted Carpets were United States ($1.02B), United Kingdom ($899M), Germany ($610M), Canada ($575M), and Netherlands ($341M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $169M

Top Destination Growth (2017 - 2018): United States, $114M

Between 2017 and 2018, the exports of Tufted Carpets grew the fastest in China ($169M), Netherlands ($114M), United Kingdom ($71.6M), United Arab Emirates ($56.2M), and Germany ($50.9M).

Between 2017 and 2018, the fastest growing importers of Tufted Carpets were United States ($114M), United Kingdom ($66.5M), Poland ($62.7M), Netherlands ($60.4M), and Saudi Arabia ($47.8M).

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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 Tufted Carpets.

In 2018,  market concentration measured using Shannon Entropy, was 4.08. This means that most of the exports of Tufted Carpets are explained by 16 countries.

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TOP NET EXPORTER (2018): China, $1.52B

TOP NET IMPORTER (2018): United Kingdom, $715M

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

In 2018, the countries that had a largest trade value in exports than in imports of Tufted Carpets were China ($1.52B), Belgium-Luxembourg ($849M), Netherlands ($635M), India ($449M), and Turkey ($288M).

In 2018, the countries that had a largest trade value in imports than in exports of Tufted Carpets were United Kingdom ($715M), Canada ($477M), United States ($289M), Australia ($266M), and Germany ($265M).

Trade Forecasts

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This section shows forecasts for total trade for Tufted Carpets. 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 Tufted Carpets was 18.1%.  The countries with the highest tariffs for importing Tufted Carpets were Syria (73.5%), Iran (50%), Cape Verde (50%), Egypt (45%), and Bahamas (41.3%).

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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.