HS Icon Refined Copper

7403 (Harmonized System 1992 for 4-digit)

World Trade (2018): $67B, Rnk 41 / 1225

Top Exporter (2018): $15.5B, Chile

Top Importer (2018): $23.2B, China

Product Complexity (2018): -1.2, Rnk 873 / 1018

Export Growth (CAGR)(2017 - 2018): 12.6%, Rnk 641 / 1225

Mean Tariff (2018): 2.2%, Rnk 1214 / 1259

Share of World Trade (2018): 0.36%, Rnk 41 / 1225

Overview:  This page contains the latest trade data of Refined Copper. In 2018, Refined Copper were the world's 41st most traded product, with a total trade of $67B. Between 2017 and 2018 the exports of Refined Copper grew by 12.6%, from  $59.5B to $67B. Trade in Refined Copper represent 0.36% of total world trade.

Exports: In 2018 the top exporters of Refined Copper  were Chile ($15.5B), Russia ($4.48B), Japan ($4.13B), Democratic Republic of the Congo ($3.63B), and Zambia ($3.06B).

Imports: In 2018 the top importers of Refined Copper were China ($23.2B), United States ($4.97B), Germany ($3.95B), Italy ($3.66B), and Chinese Taipei ($3.27B).

Tariffs: In 2018 the average tariff for Refined Copper was 2.2%, been the 1214 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Refined Copper are Bahamas (40.2%), Uzbekistan (28.7%), Bermuda (21.4%), Zambia (13.6%), and Algeria (12.2%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Refined Copper ranks 873rd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Chile, $15.5B

Top Destination (2018): China, $23.2B

Refined Copper are the world's 41st most traded product.

In 2018, the top exporters of Refined Copper were Chile ($15.5B), Russia ($4.48B), Japan ($4.13B), Democratic Republic of the Congo ($3.63B), and Zambia ($3.06B).

In 2018, the top importers of Refined Copper were China ($23.2B), United States ($4.97B), Germany ($3.95B), Italy ($3.66B), and Chinese Taipei ($3.27B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Democratic Republic of the Congo, $1.84B

Top Destination Growth (2017 - 2018): China, $3.86B

Between 2017 and 2018, the exports of Refined Copper grew the fastest in Democratic Republic of the Congo ($1.84B), Republic of the Congo ($1.29B), Russia ($874M), Japan ($812M), and United States ($754M).

Between 2017 and 2018, the fastest growing importers of Refined Copper were China ($3.86B), United Arab Emirates ($1.54B), Thailand ($939M), Saudi Arabia ($593M), and Germany ($527M).

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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 Refined Copper.

In 2018,  market concentration measured using Shannon Entropy, was 4.65. This means that most of the exports of Refined Copper are explained by 25 countries.

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TOP NET EXPORTER (2018): Chile, $15.5B

TOP NET IMPORTER (2018): China, $21.3B

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

In 2018, the countries that had a largest trade value in exports than in imports of Refined Copper were Chile ($15.5B), Russia ($4.44B), Japan ($3.89B), Democratic Republic of the Congo ($3.63B), and Zambia ($3.06B).

In 2018, the countries that had a largest trade value in imports than in exports of Refined Copper were China ($21.3B), United States ($3.53B), Italy ($3.45B), Germany ($2.85B), and United Arab Emirates ($2.66B).

Trade Forecasts

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This section shows forecasts for total trade for Refined Copper. 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 Refined Copper was 2.2%.  The countries with the highest tariffs for importing Refined Copper were Bahamas (40.2%), Uzbekistan (28.7%), Bermuda (21.4%), Zambia (13.6%), and Algeria (12.2%).

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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.