HS Icon Vegetable Products

II (Harmonized System 1992 for Section)

World Trade (2018): $512B, Rnk 11 / 21

Top Exporter (2018): $64.7B, United States

Top Importer (2018): $57.5B, China

Product Complexity (2018): -0.94, Rnk 18 / 21

Export Growth (CAGR)(2017 - 2018): 6.6%, Rnk 19 / 21

Mean Tariff (2018): 16.1%, Rnk 4 / 21

Share of World Trade (2018): 2.78%, Rnk 11 / 21

Overview:  This page contains the latest trade data of Vegetable Products. In 2018, Vegetable Products were the world's 11th most traded product, with a total trade of $512B. Between 2017 and 2018 the exports of Vegetable Products grew by 6.6%, from  $480B to $512B. Trade in Vegetable Products represent 2.78% of total world trade.

Exports: In 2018 the top exporters of Vegetable Products  were United States ($64.7B), Brazil ($44.5B), Netherlands ($29.4B), China ($25.6B), and Canada ($21.8B).

Imports: In 2018 the top importers of Vegetable Products were China ($57.5B), United States ($44.8B), Germany ($35.2B), Netherlands ($21.7B), and Japan ($18.6B).

Tariffs: In 2018 the average tariff for Vegetable Products was 16.1%, been the 4 lowest tariff using the Section product classification.

The countries with the highest import tariffs for Vegetable Products are Austria (136%), South Korea (97.3%), Cyprus (38.9%), Iran (37.6%), and India (33.7%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), Australia (0.37%), and Mauritius (0.57%).

Ranking: Vegetable Products ranks 18th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $64.7B

Top Destination (2018): China, $57.5B

Vegetable Products are the world's 11th most traded product.

In 2018, the top exporters of Vegetable Products were United States ($64.7B), Brazil ($44.5B), Netherlands ($29.4B), China ($25.6B), and Canada ($21.8B).

In 2018, the top importers of Vegetable Products were China ($57.5B), United States ($44.8B), Germany ($35.2B), Netherlands ($21.7B), and Japan ($18.6B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Brazil, $6.46B

Top Destination Growth (2017 - 2018): Canada, $3.04B

Between 2017 and 2018, the exports of Vegetable Products grew the fastest in Brazil ($6.46B), Netherlands ($5.81B), Thailand ($4.01B), Russia ($3.16B), and France ($2.12B).

Between 2017 and 2018, the fastest growing importers of Vegetable Products were Canada ($3.04B), Vietnam ($2.58B), Germany ($2.11B), Saudi Arabia ($2.07B), and Argentina ($1.61B).

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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 Vegetable Products.

In 2018,  market concentration measured using Shannon Entropy, was 5.41. This means that most of the exports of Vegetable Products are explained by 42 countries.

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TOP NET EXPORTER (2018): Brazil, $40.3B

TOP NET IMPORTER (2018): China, $31.9B

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

In 2018, the countries that had a largest trade value in exports than in imports of Vegetable Products were Brazil ($40.3B), United States ($19.9B), India ($11.2B), Canada ($9.89B), and Argentina ($9.02B).

In 2018, the countries that had a largest trade value in imports than in exports of Vegetable Products were China ($31.9B), Germany ($21.2B), Japan ($17.6B), United Kingdom ($13.9B), and Saudi Arabia ($8.23B).

Trade Forecasts

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This section shows forecasts for total trade for Vegetable Products. 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 Vegetable Products was 16.1%.  The countries with the highest tariffs for importing Vegetable Products were Austria (136%), South Korea (97.3%), Cyprus (38.9%), Iran (37.6%), and India (33.7%).

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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.