HS Icon Knitted Hats

6505 (Harmonized System 1992 for 4-digit)

World Trade (2018): $5.8B, Rnk 466 / 1225

Top Exporter (2018): $3.18B, China

Top Importer (2018): $1.7B, United States

Product Complexity (2018): -2.17, Rnk 1004 / 1018

Export Growth (CAGR)(2017 - 2018): 9.05%, Rnk 816 / 1225

Mean Tariff (2018): 15.8%, Rnk 171 / 1259

Share of World Trade (2018): 0.032%, Rnk 466 / 1225

Overview: In 2018, Knitted Hats were the world's 466th most traded product, with a total trade of $5.8B. Between 2017 and 2018 the exports of Knitted Hats grew by 9.05%, from  $5.32B to $5.8B. Trade in Knitted Hats represent 0.032% of total world trade.

Exports: In 2018 the top exporters of Knitted Hats  were China ($3.18B), Vietnam ($357M), Bangladesh ($278M), Germany ($233M), and Italy ($201M).

Imports: In 2018 the top importers of Knitted Hats were United States ($1.7B), Germany ($431M), Japan ($350M), United Kingdom ($296M), and France ($290M).

Tariffs: In 2018 the average tariff for Knitted Hats was 15.8%, been the 171 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Knitted Hats are Syria (46%), Iran (45%), Bahamas (41.3%), Cape Verde (40%), and Zimbabwe (36.5%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Singapore (0%), Switzerland (0%), and Norway (0%).

Ranking: Knitted Hats ranks 1004th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $3.18B

Top Destination (2018): United States, $1.7B

Knitted Hats are the world's 466th most traded product.

In 2018, the top exporters of Knitted Hats were China ($3.18B), Vietnam ($357M), Bangladesh ($278M), Germany ($233M), and Italy ($201M).

In 2018, the top importers of Knitted Hats were United States ($1.7B), Germany ($431M), Japan ($350M), United Kingdom ($296M), and France ($290M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Netherlands, $90.2M

Top Destination Growth (2017 - 2018): South Korea, $57.5M

Between 2017 and 2018, the exports of Knitted Hats grew the fastest in Netherlands ($90.2M), Germany ($78.7M), Italy ($57.2M), Belgium-Luxembourg ($53.6M), and France ($49.3M).

Between 2017 and 2018, the fastest growing importers of Knitted Hats were South Korea ($57.5M), Germany ($55.5M), France ($52.4M), United Kingdom ($37M), and Poland ($36.9M).

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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 Knitted Hats.

In 2018,  market concentration measured using Shannon Entropy, was 3.12. This means that most of the exports of Knitted Hats are explained by 8 countries.

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TOP NET EXPORTER (2018): China, $3.14B

TOP NET IMPORTER (2018): United States, $1.62B

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

In 2018, the countries that had a largest trade value in exports than in imports of Knitted Hats were China ($3.14B), Vietnam ($331M), Bangladesh ($277M), Chinese Taipei ($46.1M), and Italy ($42.9M).

In 2018, the countries that had a largest trade value in imports than in exports of Knitted Hats were United States ($1.62B), Japan ($342M), Germany ($199M), United Kingdom ($192M), and France ($171M).

Trade Forecasts

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This section shows forecasts for total trade for Knitted Hats. 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 Knitted Hats was 15.8%.  The countries with the highest tariffs for importing Knitted Hats were Syria (46%), Iran (45%), Bahamas (41.3%), Cape Verde (40%), and Zimbabwe (36.5%).

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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.