HS Icon Animal and Vegetable Bi-Products

III (Harmonized System 1992 for Section)

World Trade (2018): $108B, Rnk 19 / 21

Top Exporter (2018): $25B, Indonesia

Top Importer (2018): $10.5B, India

Product Complexity (2018): -0.96, Rnk 19 / 21

Export Growth (CAGR)(2017 - 2018): -0.12%, Rnk 21 / 21

Mean Tariff (2018): 10.7%, Rnk 9 / 21

Share of World Trade (2018): 0.59%, Rnk 19 / 21

Overview: In 2018, Animal and Vegetable Bi-Products were the world's 19th most traded product, with a total trade of $108B. Between 2017 and 2018 the exports of Animal and Vegetable Bi-Products decreased by -0.12%, from  $108B to $108B. Trade in Animal and Vegetable Bi-Products represent 0.59% of total world trade.

Exports: In 2018 the top exporters of Animal and Vegetable Bi-Products  were Indonesia ($25B), Malaysia ($15.2B), Netherlands ($5.91B), Spain ($5.34B), and Ukraine ($4.54B).

Imports: In 2018 the top importers of Animal and Vegetable Bi-Products were India ($10.5B), China ($9.01B), United States ($7.69B), Netherlands ($7.43B), and Germany ($4.64B).

Tariffs: In 2018 the average tariff for Animal and Vegetable Bi-Products was 10.7%, been the 9 lowest tariff using the Section product classification.

The countries with the highest import tariffs for Animal and Vegetable Bi-Products are Thailand (40.2%), Tunisia (32.7%), Barbados (29.7%), Trinidad and Tobago (25.5%), and Jamaica (25.1%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), United States (1.07%), and Australia (1.11%).

Ranking: Animal and Vegetable Bi-Products ranks 19th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Indonesia, $25B

Top Destination (2018): India, $10.5B

Animal and Vegetable Bi-Products are the world's 19th most traded product.

In 2018, the top exporters of Animal and Vegetable Bi-Products were Indonesia ($25B), Malaysia ($15.2B), Netherlands ($5.91B), Spain ($5.34B), and Ukraine ($4.54B).

In 2018, the top importers of Animal and Vegetable Bi-Products were India ($10.5B), China ($9.01B), United States ($7.69B), Netherlands ($7.43B), and Germany ($4.64B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $416M

Top Destination Growth (2017 - 2018): Burma, $510M

Between 2017 and 2018, the exports of Animal and Vegetable Bi-Products grew the fastest in China ($416M), Russia ($347M), Tunisia ($319M), Thailand ($243M), and Portugal ($225M).

Between 2017 and 2018, the fastest growing importers of Animal and Vegetable Bi-Products were Burma ($510M), Saudi Arabia ($396M), Afghanistan ($365M), Netherlands ($360M), and Canada ($302M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Animal and Vegetable Bi-Products.

In 2018,  market concentration measured using Shannon Entropy, was 4.66. This means that most of the exports of Animal and Vegetable Bi-Products are explained by 25 countries.

TOP NET EXPORTER (2018): Indonesia, $24.6B

TOP NET IMPORTER (2018): India, $9.02B

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

In 2018, the countries that had a largest trade value in exports than imports of Animal and Vegetable Bi-Products were Indonesia ($24.6B), Malaysia ($13B), Ukraine ($4.21B), Argentina ($3.98B), and Canada ($2.19B).

In 2018, the countries that had a largest trade value in imports than exports of Animal and Vegetable Bi-Products were India ($9.02B), China ($7.82B), United States ($3.99B), Pakistan ($2.15B), and Italy ($1.76B).

Trade Forecasts

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This section shows forecasts for total trade for Animal and Vegetable Bi-Products. 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 Animal and Vegetable Bi-Products was 10.7%.  The countries with the highest tariffs for importing Animal and Vegetable Bi-Products were Thailand (40.2%), Tunisia (32.7%), Barbados (29.7%), Trinidad and Tobago (25.5%), and Jamaica (25.1%).

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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.