HS Icon Rice

1006 (Harmonized System 1992 for 4-digit)

World Trade (2018): $25.4B, Rnk 151 / 1225

Top Exporter (2018): $7.47B, India

Top Importer (2018): $1.61B, China

Product Complexity (2018): -1.61, Rnk 956 / 1018

Export Growth (CAGR)(2017 - 2018): 25.7%, Rnk 225 / 1225

Mean Tariff (2018): 10.4%, Rnk 406 / 1259

Share of World Trade (2018): 0.14%, Rnk 151 / 1225

Overview:  This page contains the latest trade data of Rice. In 2018, Rice were the world's 151st most traded product, with a total trade of $25.4B. Between 2017 and 2018 the exports of Rice grew by 25.7%, from  $20.2B to $25.4B. Trade in Rice represent 0.14% of total world trade.

Exports: In 2018 the top exporters of Rice  were India ($7.47B), Thailand ($5.77B), Vietnam ($2.13B), Pakistan ($1.98B), and United States ($1.7B).

Imports: In 2018 the top importers of Rice were China ($1.61B), Iran ($1.4B), Saudi Arabia ($1.24B), Benin ($1.03B), and Indonesia ($994M).

Tariffs: In 2018 the average tariff for Rice was 10.4%, been the 406 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Rice are South Korea (511%), Tanzania (70.7%), Uganda (70.6%), India (68.3%), and Colombia (53.6%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Madagascar (0%), Mauritius (0%), and South Africa (0%).

Ranking: Rice ranks 956th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): India, $7.47B

Top Destination (2018): China, $1.61B

Rice are the world's 151st most traded product.

In 2018, the top exporters of Rice were India ($7.47B), Thailand ($5.77B), Vietnam ($2.13B), Pakistan ($1.98B), and United States ($1.7B).

In 2018, the top importers of Rice were China ($1.61B), Iran ($1.4B), Saudi Arabia ($1.24B), Benin ($1.03B), and Indonesia ($994M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Thailand, $2.77B

Top Destination Growth (2017 - 2018): Indonesia, $819M

Between 2017 and 2018, the exports of Rice grew the fastest in Thailand ($2.77B), India ($413M), Vietnam ($380M), Pakistan ($355M), and China ($312M).

Between 2017 and 2018, the fastest growing importers of Rice were Indonesia ($819M), Benin ($658M), Iran ($509M), Philippines ($456M), and Cote d'Ivoire ($317M).

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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 Rice.

In 2018,  market concentration measured using Shannon Entropy, was 3.53. This means that most of the exports of Rice are explained by 11 countries.

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TOP NET EXPORTER (2018): India, $7.46B

TOP NET IMPORTER (2018): Iran, $1.4B

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

In 2018, the countries that had a largest trade value in exports than in imports of Rice were India ($7.46B), Thailand ($5.76B), Vietnam ($2.07B), Pakistan ($1.95B), and United States ($807M).

In 2018, the countries that had a largest trade value in imports than in exports of Rice were Iran ($1.4B), Saudi Arabia ($1.23B), Benin ($1.03B), Indonesia ($990M), and Philippines ($802M).

Trade Forecasts

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This section shows forecasts for total trade for Rice. 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 Rice was 10.4%.  The countries with the highest tariffs for importing Rice were South Korea (511%), Tanzania (70.7%), Uganda (70.6%), India (68.3%), and Colombia (53.6%).

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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.