HS Icon Corn

1005 (Harmonized System 1992 for 4-digit)

World Trade (2018): $34.4B, Rnk 107 / 1225

Top Exporter (2018): $13.1B, United States

Top Importer (2018): $3.1B, Mexico

Product Complexity (2018): -0.9, Rnk 793 / 1018

Export Growth (CAGR)(2017 - 2018): 13.9%, Rnk 568 / 1225

Mean Tariff (2018): 6.91%, Rnk 621 / 1259

Share of World Trade (2018): 0.19%, Rnk 107 / 1225

Overview: In 2018, Corn were the world's 107th most traded product, with a total trade of $34.4B. Between 2017 and 2018 the exports of Corn grew by 13.9%, from  $30.2B to $34.4B. Trade in Corn represent 0.19% of total world trade.

Exports: In 2018 the top exporters of Corn  were United States ($13.1B), Argentina ($4.44B), Brazil ($4.2B), Ukraine ($3.51B), and France ($1.67B).

Imports: In 2018 the top importers of Corn were Mexico ($3.1B), Japan ($3.03B), South Korea ($1.88B), Vietnam ($1.85B), and Spain ($1.74B).

Tariffs: In 2018 the average tariff for Corn was 6.91%, been the 621 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Corn are South Korea (355%), India (45.7%), Israel (37.7%), Tanzania (35.3%), and Rwanda (35.2%). The countries with the lowest tariffs are Egypt (0%), Mauritius (0%), South Africa (0%), United Arab Emirates (0%), and Hong Kong (0%).

Ranking: Corn ranks 793rd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $13.1B

Top Destination (2018): Mexico, $3.1B

Corn are the world's 107th most traded product.

In 2018, the top exporters of Corn were United States ($13.1B), Argentina ($4.44B), Brazil ($4.2B), Ukraine ($3.51B), and France ($1.67B).

In 2018, the top importers of Corn were Mexico ($3.1B), Japan ($3.03B), South Korea ($1.88B), Vietnam ($1.85B), and Spain ($1.74B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $3.65B

Top Destination Growth (2017 - 2018): Vietnam, $594M

Between 2017 and 2018, the exports of Corn grew the fastest in United States ($3.65B), Ukraine ($543M), Argentina ($387M), Romania ($281M), and France ($241M).

Between 2017 and 2018, the fastest growing importers of Corn were Vietnam ($594M), Iran ($587M), Canada ($475M), Spain ($351M), and Germany ($299M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Corn.

In 2018,  market concentration measured using Shannon Entropy, was 3.34. This means that most of the exports of Corn are explained by 10 countries.

TOP NET EXPORTER (2018): United States, $12.8B

TOP NET IMPORTER (2018): Japan, $3.03B

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

In 2018, the countries that had a largest trade value in exports than imports of Corn were United States ($12.8B), Argentina ($4.4B), Brazil ($4.05B), Ukraine ($3.36B), and France ($1.43B).

In 2018, the countries that had a largest trade value in imports than exports of Corn were Japan ($3.03B), Mexico ($2.82B), South Korea ($1.88B), Vietnam ($1.83B), and Iran ($1.67B).

Trade Forecasts

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This section shows forecasts for total trade for Corn. 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 Corn was 6.91%.  The countries with the highest tariffs for importing Corn were South Korea (355%), India (45.7%), Israel (37.7%), Tanzania (35.3%), and Rwanda (35.2%).

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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.