HS Icon Furniture, wooden, nes

940360 (Harmonized System 1992 for 6-digit)

World Trade (2018): $26.7B, Rnk 96 / 4726

Top Exporter (2018): $7.35B, China

Top Importer (2018): $6.91B, United States

Product Complexity (2018): -0.24, Rnk 3016 / 4873

Export Growth (CAGR)(2017 - 2018): 10.9%, Rnk 2543 / 4726

Mean Tariff (2018): 14.7%, Rnk 1243 / 6538

Share of World Trade (2018): 0.15%, Rnk 96 / 4726

Overview:  This page contains the latest trade data of Furniture, wooden, nes. In 2018, Furniture, wooden, nes were the world's 96th most traded product, with a total trade of $26.7B. Between 2017 and 2018 the exports of Furniture, wooden, nes grew by 10.9%, from  $24B to $26.7B. Trade in Furniture, wooden, nes represent 0.15% of total world trade.

Exports: In 2018 the top exporters of Furniture, wooden, nes  were China ($7.35B), Poland ($2.5B), Vietnam ($2.48B), Italy ($2.18B), and Germany ($1.32B).

Imports: In 2018 the top importers of Furniture, wooden, nes were United States ($6.91B), Germany ($2.44B), United Kingdom ($1.75B), France ($1.7B), and Japan ($1.05B).

Tariffs: In 2018 the average tariff for Furniture, wooden, nes was 14.7%, been the 1243 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Furniture, wooden, nes are Syria (55.2%), Iran (55%), Cape Verde (50%), Egypt (45%), and Bahamas (44.6%). The countries with the lowest tariffs are China (0%), Hong Kong (0%), Japan (0%), South Korea (0%), and Singapore (0%).

Ranking: Furniture, wooden, nes ranks 3016th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $7.35B

Top Destination (2018): United States, $6.91B

Furniture, wooden, nes are the world's 96th most traded product.

In 2018, the top exporters of Furniture, wooden, nes were China ($7.35B), Poland ($2.5B), Vietnam ($2.48B), Italy ($2.18B), and Germany ($1.32B).

In 2018, the top importers of Furniture, wooden, nes were United States ($6.91B), Germany ($2.44B), United Kingdom ($1.75B), France ($1.7B), and Japan ($1.05B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Poland, $342M

Top Destination Growth (2017 - 2018): United States, $550M

Between 2017 and 2018, the exports of Furniture, wooden, nes grew the fastest in Poland ($342M), Italy ($334M), Vietnam ($304M), China ($222M), and Romania ($119M).

Between 2017 and 2018, the fastest growing importers of Furniture, wooden, nes were United States ($550M), France ($347M), Germany ($347M), Russia ($140M), and Spain ($109M).

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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 Furniture, wooden, nes.

In 2018,  market concentration measured using Shannon Entropy, was 4.31. This means that most of the exports of Furniture, wooden, nes are explained by 19 countries.

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TOP NET EXPORTER (2018): China, $6.85B

TOP NET IMPORTER (2018): United States, $6.65B

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

In 2018, the countries that had a largest trade value in exports than in imports of Furniture, wooden, nes were China ($6.85B), Vietnam ($2.43B), Poland ($2.22B), Italy ($1.75B), and Indonesia ($713M).

In 2018, the countries that had a largest trade value in imports than in exports of Furniture, wooden, nes were United States ($6.65B), United Kingdom ($1.48B), France ($1.21B), Germany ($1.11B), and Japan ($1.03B).

Trade Forecasts

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This section shows forecasts for total trade for Furniture, wooden, nes. 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 Furniture, wooden, nes was 14.7%.  The countries with the highest tariffs for importing Furniture, wooden, nes were Syria (55.2%), Iran (55%), Cape Verde (50%), Egypt (45%), and Bahamas (44.6%).

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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.