HS Icon Packing Bags

6305 (Harmonized System 1992 for 4-digit)

World Trade (2018): $5.42B, Rnk 477 / 1225

Top Exporter (2018): $1.65B, China

Top Importer (2018): $775M, United States

Product Complexity (2018): -1.68, Rnk 965 / 1018

Export Growth (CAGR)(2017 - 2018): 18%, Rnk 387 / 1225

Mean Tariff (2018): 15.8%, Rnk 176 / 1259

Share of World Trade (2018): 0.029%, Rnk 477 / 1225

Overview: In 2018, Packing Bags were the world's 477th most traded product, with a total trade of $5.42B. Between 2017 and 2018 the exports of Packing Bags grew by 18%, from  $4.59B to $5.42B. Trade in Packing Bags represent 0.029% of total world trade.

Exports: In 2018 the top exporters of Packing Bags  were China ($1.65B), India ($1.05B), Vietnam ($425M), Turkey ($359M), and Thailand ($126M).

Imports: In 2018 the top importers of Packing Bags were United States ($775M), Japan ($466M), Germany ($326M), South Korea ($285M), and France ($269M).

Tariffs: In 2018 the average tariff for Packing Bags was 15.8%, been the 176 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Packing Bags are Iran (65%), Syria (54.1%), Maldives (49.1%), and Brazil (33.6%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Singapore (0%), and Switzerland (0%).

Ranking: Packing Bags ranks 965th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $1.65B

Top Destination (2018): United States, $775M

Packing Bags are the world's 477th most traded product.

In 2018, the top exporters of Packing Bags were China ($1.65B), India ($1.05B), Vietnam ($425M), Turkey ($359M), and Thailand ($126M).

In 2018, the top importers of Packing Bags were United States ($775M), Japan ($466M), Germany ($326M), South Korea ($285M), and France ($269M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $307M

Top Destination Growth (2017 - 2018): United States, $147M

Between 2017 and 2018, the exports of Packing Bags grew the fastest in China ($307M), India ($130M), Vietnam ($85.2M), Turkey ($58.2M), and Belgium-Luxembourg ($49.2M).

Between 2017 and 2018, the fastest growing importers of Packing Bags were United States ($147M), France ($89M), Netherlands ($61.4M), Japan ($56M), and Germany ($48.9M).

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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 Packing Bags.

In 2018,  market concentration measured using Shannon Entropy, was 4.07. This means that most of the exports of Packing Bags are explained by 16 countries.

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TOP NET EXPORTER (2018): China, $1.63B

TOP NET IMPORTER (2018): United States, $666M

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

In 2018, the countries that had a largest trade value in exports than in imports of Packing Bags were China ($1.63B), India ($999M), Vietnam ($401M), Turkey ($352M), and Bangladesh ($109M).

In 2018, the countries that had a largest trade value in imports than in exports of Packing Bags were United States ($666M), Japan ($460M), South Korea ($266M), France ($236M), and Germany ($213M).

Trade Forecasts

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This section shows forecasts for total trade for Packing Bags. 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 Packing Bags was 15.8%.  The countries with the highest tariffs for importing Packing Bags were Iran (65%), Syria (54.1%), Maldives (49.1%), and Brazil (33.6%).

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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.