HS Icon Floating, submersible drilling or production platform

890520 (Harmonized System 1992 for 6-digit)

World Trade (2018): $19.6B, Rnk 137 / 4726

Top Exporter (2018): $6.44B, South Korea

Top Importer (2018): $3.85B, Nigeria

Product Complexity (2018): -1.5, Rnk 4463 / 4873

Export Growth (CAGR)(2017 - 2018): 37.2%, Rnk 551 / 4726

Mean Tariff (2018): 4.26%, Rnk 4751 / 6538

Share of World Trade (2018): 0.11%, Rnk 137 / 4726

Overview:  This page contains the latest trade data of Floating, submersible drilling or production platform. In 2018, Floating, submersible drilling or production platform were the world's 137th most traded product, with a total trade of $19.6B. Between 2017 and 2018 the exports of Floating, submersible drilling or production platform grew by 37.2%, from  $14.3B to $19.6B. Trade in Floating, submersible drilling or production platform represent 0.11% of total world trade.

Exports: In 2018 the top exporters of Floating, submersible drilling or production platform  were South Korea ($6.44B), Brazil ($3.02B), Singapore ($2.62B), China ($2.3B), and United States ($1.65B).

Imports: In 2018 the top importers of Floating, submersible drilling or production platform were Nigeria ($3.85B), Norway ($1.92B), Netherlands ($1.64B), Angola ($1.64B), and United Kingdom ($1.53B).

Tariffs: In 2018 the average tariff for Floating, submersible drilling or production platform was 4.26%, been the 4751 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Floating, submersible drilling or production platform are Bahamas (40.2%), Bermuda (35%), Maldives (24.5%), Romania (17.2%), and Panama (15%). The countries with the lowest tariffs are Angola (0%), Algeria (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Floating, submersible drilling or production platform ranks 4463rd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): South Korea, $6.44B

Top Destination (2018): Nigeria, $3.85B

Floating, submersible drilling or production platform are the world's 137th most traded product.

In 2018, the top exporters of Floating, submersible drilling or production platform were South Korea ($6.44B), Brazil ($3.02B), Singapore ($2.62B), China ($2.3B), and United States ($1.65B).

In 2018, the top importers of Floating, submersible drilling or production platform were Nigeria ($3.85B), Norway ($1.92B), Netherlands ($1.64B), Angola ($1.64B), and United Kingdom ($1.53B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Brazil, $3.02B

Top Destination Growth (2017 - 2018): Nigeria, $3.8B

Between 2017 and 2018, the exports of Floating, submersible drilling or production platform grew the fastest in Brazil ($3.02B), China ($2.29B), United States ($1.6B), Singapore ($1.4B), and Thailand ($947M).

Between 2017 and 2018, the fastest growing importers of Floating, submersible drilling or production platform were Nigeria ($3.8B), Angola ($1.64B), Netherlands ($1.64B), Guyana ($1.52B), and Brazil ($1.48B).

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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 Floating, submersible drilling or production platform.

In 2018,  market concentration measured using Shannon Entropy, was 2.99. This means that most of the exports of Floating, submersible drilling or production platform are explained by 7 countries.

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TOP NET EXPORTER (2018): South Korea, $6.44B

TOP NET IMPORTER (2018): Nigeria, $3.85B

This map shows which countries export or import more of Floating, submersible drilling or production platform. Each country is colored based on the difference in exports and imports of Floating, submersible drilling or production platform during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Floating, submersible drilling or production platform were South Korea ($6.44B), China ($2.29B), Singapore ($2.02B), United States ($1.65B), and Brazil ($1.54B).

In 2018, the countries that had a largest trade value in imports than in exports of Floating, submersible drilling or production platform were Nigeria ($3.85B), Norway ($1.92B), Angola ($1.64B), United Kingdom ($1.53B), and Guyana ($1.52B).

Trade Forecasts

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This section shows forecasts for total trade for Floating, submersible drilling or production platform. 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 Floating, submersible drilling or production platform was 4.26%.  The countries with the highest tariffs for importing Floating, submersible drilling or production platform were Bahamas (40.2%), Bermuda (35%), Maldives (24.5%), Romania (17.2%), and Panama (15%).

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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.