HS Icon Umbrellas

6601 (Harmonized System 1992 for 4-digit)

World Trade (2018): $2.91B, Rnk 636 / 1225

Top Exporter (2018): $2.36B, China

Top Importer (2018): $509M, United States

Product Complexity (2018): -0.35, Rnk 652 / 1018

Export Growth (CAGR)(2017 - 2018): 11.3%, Rnk 706 / 1225

Mean Tariff (2018): 26.6%, Rnk 35 / 1259

Share of World Trade (2018): 0.016%, Rnk 636 / 1225

Overview: In 2018, Umbrellas were the world's 636th most traded product, with a total trade of $2.91B. Between 2017 and 2018 the exports of Umbrellas grew by 11.3%, from  $2.61B to $2.91B. Trade in Umbrellas represent 0.016% of total world trade.

Exports: In 2018 the top exporters of Umbrellas  were China ($2.36B), Germany ($76.2M), Netherlands ($62.9M), Cambodia ($38.5M), and Austria ($37.5M).

Imports: In 2018 the top importers of Umbrellas were United States ($509M), Japan ($275M), Germany ($219M), France ($139M), and South Korea ($115M).

Tariffs: In 2018 the average tariff for Umbrellas was 26.6%, been the 35 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Umbrellas are Austria (298%), Iran (70%), Syria (46%), Bahamas (41.3%), and Zimbabwe (36.5%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), Norway (0%), and United States (2.17%).

Ranking: Umbrellas ranks 652nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $2.36B

Top Destination (2018): United States, $509M

Umbrellas are the world's 636th most traded product.

In 2018, the top exporters of Umbrellas were China ($2.36B), Germany ($76.2M), Netherlands ($62.9M), Cambodia ($38.5M), and Austria ($37.5M).

In 2018, the top importers of Umbrellas were United States ($509M), Japan ($275M), Germany ($219M), France ($139M), and South Korea ($115M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $127M

Top Destination Growth (2017 - 2018): Philippines, $66.5M

Between 2017 and 2018, the exports of Umbrellas grew the fastest in China ($127M), Netherlands ($36.3M), Germany ($23.1M), Austria ($21.6M), and Belgium-Luxembourg ($12.5M).

Between 2017 and 2018, the fastest growing importers of Umbrellas were Philippines ($66.5M), Germany ($31M), France ($27.9M), South Korea ($23.6M), and Indonesia ($22.9M).

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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 Umbrellas.

In 2018,  market concentration measured using Shannon Entropy, was 1.6. This means that most of the exports of Umbrellas are explained by 3 countries.

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TOP NET EXPORTER (2018): China, $2.35B

TOP NET IMPORTER (2018): United States, $490M

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

In 2018, the countries that had a largest trade value in exports than in imports of Umbrellas were China ($2.35B), Cambodia ($38.1M), Bosnia and Herzegovina ($8.19M), Croatia ($1.46M), and Latvia ($484k).

In 2018, the countries that had a largest trade value in imports than in exports of Umbrellas were United States ($490M), Japan ($271M), Germany ($143M), France ($118M), and South Korea ($114M).

Trade Forecasts

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This section shows forecasts for total trade for Umbrellas. 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 Umbrellas was 26.6%.  The countries with the highest tariffs for importing Umbrellas were Austria (298%), Iran (70%), Syria (46%), Bahamas (41.3%), 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.