HS Icon Integrated Circuits

8542 (Harmonized System 1992 for 4-digit)

World Trade (2018): $619B, Rnk 4 / 1225

Top Exporter (2018): $113B, South Korea

Top Importer (2018): $156B, Hong Kong

Product Complexity (2018): 1.4, Rnk 66 / 1018

Export Growth (CAGR)(2017 - 2018): -11.6%, Rnk 1187 / 1225

Mean Tariff (2018): 1.99%, Rnk 1236 / 1259

Share of World Trade (2018): 3.37%, Rnk 4 / 1225

Overview: In 2018, Integrated Circuits were the world's 4th most traded product, with a total trade of $619B. Between 2017 and 2018 the exports of Integrated Circuits decreased by -11.6%, from  $700B to $619B. Trade in Integrated Circuits represent 3.37% of total world trade.

Exports: In 2018 the top exporters of Integrated Circuits  were South Korea ($113B), Chinese Taipei ($110B), China ($90.9B), Singapore ($61B), and Malaysia ($55.5B).

Imports: In 2018 the top importers of Integrated Circuits were Hong Kong ($156B), China ($133B), Singapore ($46.3B), Chinese Taipei ($40.6B), and South Korea ($32B).

Tariffs: In 2018 the average tariff for Integrated Circuits was 1.99%, been the 1236 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Integrated Circuits are Bahamas (40.2%), Bermuda (25%), Samoa (20%), Ethiopia (19.8%), and Maldives (19.6%). The countries with the lowest tariffs are Egypt (0%), Mauritius (0%), South Africa (0%), United Arab Emirates (0%), and Armenia (0%).

Ranking: Integrated Circuits ranks 66th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): South Korea, $113B

Top Destination (2018): Hong Kong, $156B

Integrated Circuits are the world's 4th most traded product.

In 2018, the top exporters of Integrated Circuits were South Korea ($113B), Chinese Taipei ($110B), China ($90.9B), Singapore ($61B), and Malaysia ($55.5B).

In 2018, the top importers of Integrated Circuits were Hong Kong ($156B), China ($133B), Singapore ($46.3B), Chinese Taipei ($40.6B), and South Korea ($32B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $10.8B

Top Destination Growth (2017 - 2018): Chinese Taipei, $13.5B

Between 2017 and 2018, the exports of Integrated Circuits grew the fastest in China ($10.8B), South Korea ($8.83B), United States ($8.23B), Japan ($4.41B), and Netherlands ($3.54B).

Between 2017 and 2018, the fastest growing importers of Integrated Circuits were Chinese Taipei ($13.5B), Philippines ($8.05B), Vietnam ($7.34B), Mexico ($5.03B), and Thailand ($4.74B).

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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 Integrated Circuits.

In 2018,  market concentration measured using Shannon Entropy, was 3.57. This means that most of the exports of Integrated Circuits are explained by 11 countries.

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TOP NET EXPORTER (2018): South Korea, $81.1B

TOP NET IMPORTER (2018): Hong Kong, $149B

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

In 2018, the countries that had a largest trade value in exports than in imports of Integrated Circuits were South Korea ($81.1B), Chinese Taipei ($69B), Malaysia ($25.9B), Singapore ($14.7B), and Japan ($13B).

In 2018, the countries that had a largest trade value in imports than in exports of Integrated Circuits were Hong Kong ($149B), China ($42B), India ($7B), Vietnam ($6.93B), and Mexico ($6.12B).

Trade Forecasts

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This section shows forecasts for total trade for Integrated Circuits. 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 Integrated Circuits was 1.99%.  The countries with the highest tariffs for importing Integrated Circuits were Bahamas (40.2%), Bermuda (25%), Samoa (20%), Ethiopia (19.8%), and Maldives (19.6%).

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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.