HS Icon Vegetable and Mineral Carvings

9602 (Harmonized System 1992 for 4-digit)

World Trade (2018): $883M, Rnk 941 / 1225

Top Exporter (2018): $197M, Belgium-Luxembourg

Top Importer (2018): $212M, United States

Product Complexity (2018): -0.27, Rnk 629 / 1018

Export Growth (CAGR)(2017 - 2018): 3.39%, Rnk 1011 / 1225

Mean Tariff (2018): 10.9%, Rnk 377 / 1259

Share of World Trade (2018): 0.0048%, Rnk 941 / 1225

Overview: In 2018, Vegetable and Mineral Carvings were the world's 941st most traded product, with a total trade of $883M. Between 2017 and 2018 the exports of Vegetable and Mineral Carvings grew by 3.39%, from  $854M to $883M. Trade in Vegetable and Mineral Carvings represent 0.0048% of total world trade.

Exports: In 2018 the top exporters of Vegetable and Mineral Carvings  were Belgium-Luxembourg ($197M), India ($104M), China ($102M), United States ($70.3M), and Mexico ($57M).

Imports: In 2018 the top importers of Vegetable and Mineral Carvings were United States ($212M), Germany ($62.8M), Spain ($34.9M), Netherlands ($34.2M), and France ($31.4M).

Tariffs: In 2018 the average tariff for Vegetable and Mineral Carvings was 10.9%, been the 377 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Vegetable and Mineral Carvings are Bahamas (41.3%), Iran (30%), Cape Verde (30%), Cameroon (29.4%), and Gabon (29.4%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Hong Kong (0%), Singapore (0%), and Switzerland (0%).

Ranking: Vegetable and Mineral Carvings ranks 629th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Belgium-Luxembourg, $197M

Top Destination (2018): United States, $212M

Vegetable and Mineral Carvings are the world's 941st most traded product.

In 2018, the top exporters of Vegetable and Mineral Carvings were Belgium-Luxembourg ($197M), India ($104M), China ($102M), United States ($70.3M), and Mexico ($57M).

In 2018, the top importers of Vegetable and Mineral Carvings were United States ($212M), Germany ($62.8M), Spain ($34.9M), Netherlands ($34.2M), and France ($31.4M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Belgium-Luxembourg, $25.7M

Top Destination Growth (2017 - 2018): Netherlands, $19.6M

Between 2017 and 2018, the exports of Vegetable and Mineral Carvings grew the fastest in Belgium-Luxembourg ($25.7M), Croatia ($15.8M), Netherlands ($13M), Vietnam ($10.6M), and India ($7.49M).

Between 2017 and 2018, the fastest growing importers of Vegetable and Mineral Carvings were Netherlands ($19.6M), Brazil ($13.5M), Belgium-Luxembourg ($5.69M), Russia ($5.41M), and United States ($5.38M).

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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 and Mineral Carvings.

In 2018,  market concentration measured using Shannon Entropy, was 4.03. This means that most of the exports of Vegetable and Mineral Carvings are explained by 16 countries.

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TOP NET EXPORTER (2018): Belgium-Luxembourg, $176M

TOP NET IMPORTER (2018): United States, $142M

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

In 2018, the countries that had a largest trade value in exports than in imports of Vegetable and Mineral Carvings were Belgium-Luxembourg ($176M), China ($99.5M), India ($91.2M), South Korea ($36.2M), and Mexico ($32.3M).

In 2018, the countries that had a largest trade value in imports than in exports of Vegetable and Mineral Carvings were United States ($142M), Germany ($50.2M), Italy ($22.5M), United Kingdom ($22.3M), and Brazil ($21.8M).

Trade Forecasts

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This section shows forecasts for total trade for Vegetable and Mineral Carvings. 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 and Mineral Carvings was 10.9%.  The countries with the highest tariffs for importing Vegetable and Mineral Carvings were Bahamas (41.3%), Iran (30%), Cape Verde (30%), Cameroon (29.4%), and Gabon (29.4%).

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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.