HS Icon Spices

0910 (Harmonized System 1992 for 4-digit)

World Trade (2018): $2.69B, Rnk 656 / 1225

Top Exporter (2018): $582M, China

Top Importer (2018): $282M, United States

Product Complexity (2018): -1.61, Rnk 954 / 1018

Export Growth (CAGR)(2017 - 2018): 8.96%, Rnk 820 / 1225

Mean Tariff (2018): 11%, Rnk 367 / 1259

Share of World Trade (2018): 0.015%, Rnk 656 / 1225

Overview: In 2018, Spices were the world's 656th most traded product, with a total trade of $2.69B. Between 2017 and 2018 the exports of Spices grew by 8.96%, from  $2.46B to $2.69B. Trade in Spices represent 0.015% of total world trade.

Exports: In 2018 the top exporters of Spices  were China ($582M), India ($373M), Netherlands ($197M), Iran ($161M), and Germany ($122M).

Imports: In 2018 the top importers of Spices were United States ($282M), Germany ($156M), Netherlands ($147M), United Kingdom ($119M), and Saudi Arabia ($117M).

Tariffs: In 2018 the average tariff for Spices was 11%, been the 367 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Spices are South Korea (181%), Iran (42.1%), Tunisia (36%), Jamaica (32.2%), and Belize (30.3%). The countries with the lowest tariffs are Hong Kong (0%), Maldives (0%), Singapore (0%), Bosnia and Herzegovina (0%), and Switzerland (0%).

Ranking: Spices ranks 954th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $582M

Top Destination (2018): United States, $282M

Spices are the world's 656th most traded product.

In 2018, the top exporters of Spices were China ($582M), India ($373M), Netherlands ($197M), Iran ($161M), and Germany ($122M).

In 2018, the top importers of Spices were United States ($282M), Germany ($156M), Netherlands ($147M), United Kingdom ($119M), and Saudi Arabia ($117M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Netherlands, $50.1M

Top Destination Growth (2017 - 2018): Hong Kong, $74.1M

Between 2017 and 2018, the exports of Spices grew the fastest in Netherlands ($50.1M), Iran ($45.7M), Thailand ($32.9M), United Arab Emirates ($32.2M), and Vietnam ($23M).

Between 2017 and 2018, the fastest growing importers of Spices were Hong Kong ($74.1M), India ($28.8M), Pakistan ($28.5M), Saudi Arabia ($27.4M), and Morocco ($14.8M).

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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 Spices.

In 2018,  market concentration measured using Shannon Entropy, was 4.64. This means that most of the exports of Spices are explained by 24 countries.

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TOP NET EXPORTER (2018): China, $567M

TOP NET IMPORTER (2018): United States, $241M

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

In 2018, the countries that had a largest trade value in exports than in imports of Spices were China ($567M), India ($282M), Iran ($131M), Thailand ($92.3M), and Turkey ($74.7M).

In 2018, the countries that had a largest trade value in imports than in exports of Spices were United States ($241M), Saudi Arabia ($113M), Japan ($101M), Hong Kong ($96.6M), and United Kingdom ($79.6M).

Trade Forecasts

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This section shows forecasts for total trade for Spices. 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 Spices was 11%.  The countries with the highest tariffs for importing Spices were South Korea (181%), Iran (42.1%), Tunisia (36%), Jamaica (32.2%), and Belize (30.3%).

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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.