HS Icon Forage Crops

1214 (Harmonized System 1992 for 4-digit)

World Trade (2018): $2.94B, Rnk 633 / 1225

Top Exporter (2018): $1.42B, United States

Top Importer (2018): $736M, Japan

Product Complexity (2018): -1.31, Rnk 902 / 1018

Export Growth (CAGR)(2017 - 2018): 18.5%, Rnk 369 / 1225

Mean Tariff (2018): 4.06%, Rnk 981 / 1259

Share of World Trade (2018): 0.016%, Rnk 633 / 1225

Overview:  This page contains the latest trade data of Forage Crops. In 2018, Forage Crops were the world's 633rd most traded product, with a total trade of $2.94B. Between 2017 and 2018 the exports of Forage Crops grew by 18.5%, from  $2.48B to $2.94B. Trade in Forage Crops represent 0.016% of total world trade.

Exports: In 2018 the top exporters of Forage Crops  were United States ($1.42B), Australia ($372M), Spain ($283M), Canada ($158M), and France ($118M).

Imports: In 2018 the top importers of Forage Crops were Japan ($736M), China ($470M), United Arab Emirates ($416M), South Korea ($330M), and Saudi Arabia ($222M).

Tariffs: In 2018 the average tariff for Forage Crops was 4.06%, been the 981 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Forage Crops are Norway (158%), Cyprus (40%), Tunisia (36%), South Korea (33.5%), and India (24.5%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), United Arab Emirates (0%), Hong Kong (0%), and Japan (0%).

Ranking: Forage Crops ranks 902nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $1.42B

Top Destination (2018): Japan, $736M

Forage Crops are the world's 633rd most traded product.

In 2018, the top exporters of Forage Crops were United States ($1.42B), Australia ($372M), Spain ($283M), Canada ($158M), and France ($118M).

In 2018, the top importers of Forage Crops were Japan ($736M), China ($470M), United Arab Emirates ($416M), South Korea ($330M), and Saudi Arabia ($222M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $94.4M

Top Destination Growth (2017 - 2018): United Arab Emirates, $179M

Between 2017 and 2018, the exports of Forage Crops grew the fastest in United States ($94.4M), Spain ($77.6M), France ($51.8M), South Sudan ($32.1M), and Italy ($29.5M).

Between 2017 and 2018, the fastest growing importers of Forage Crops were United Arab Emirates ($179M), Saudi Arabia ($64.6M), Japan ($59.6M), Switzerland ($41.2M), and Norway ($20.3M).

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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 Forage Crops.

In 2018,  market concentration measured using Shannon Entropy, was 2.99. This means that most of the exports of Forage Crops are explained by 7 countries.

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TOP NET EXPORTER (2018): United States, $1.33B

TOP NET IMPORTER (2018): Japan, $736M

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

In 2018, the countries that had a largest trade value in exports than in imports of Forage Crops were United States ($1.33B), Australia ($371M), Spain ($278M), Canada ($140M), and France ($95.3M).

In 2018, the countries that had a largest trade value in imports than in exports of Forage Crops were Japan ($736M), China ($468M), United Arab Emirates ($414M), South Korea ($330M), and Saudi Arabia ($222M).

Trade Forecasts

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This section shows forecasts for total trade for Forage Crops. 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 Forage Crops was 4.06%.  The countries with the highest tariffs for importing Forage Crops were Norway (158%), Cyprus (40%), Tunisia (36%), South Korea (33.5%), and India (24.5%).

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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.