HS Icon Bovine, Sheep, and Goat Fat

1502 (Harmonized System 1992 for 4-digit)

World Trade (2018): $1.28B, Rnk 851 / 1225

Top Exporter (2018): $312M, United States

Top Importer (2018): $287M, Singapore

Product Complexity (2018): -0.26, Rnk 627 / 1018

Export Growth (CAGR)(2017 - 2018): -8%, Rnk 1166 / 1225

Mean Tariff (2018): 9.08%, Rnk 469 / 1259

Share of World Trade (2018): 0.007%, Rnk 851 / 1225

Overview:  This page contains the latest trade data of Bovine, Sheep, and Goat Fat. In 2018, Bovine, Sheep, and Goat Fat were the world's 851st most traded product, with a total trade of $1.28B. Between 2017 and 2018 the exports of Bovine, Sheep, and Goat Fat decreased by -8%, from  $1.39B to $1.28B. Trade in Bovine, Sheep, and Goat Fat represent 0.007% of total world trade.

Exports: In 2018 the top exporters of Bovine, Sheep, and Goat Fat  were United States ($312M), Australia ($240M), Canada ($123M), France ($93.2M), and New Zealand ($88.6M).

Imports: In 2018 the top importers of Bovine, Sheep, and Goat Fat were Singapore ($287M), Mexico ($174M), Netherlands ($120M), United States ($106M), and Belgium-Luxembourg ($84M).

Tariffs: In 2018 the average tariff for Bovine, Sheep, and Goat Fat was 9.08%, been the 469 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Bovine, Sheep, and Goat Fat are Tunisia (36%), Bahamas (35.7%), Cameroon (29.4%), Gabon (29.4%), and Chad (29.4%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Hong Kong (0%), Japan (0%), and Maldives (0%).

Ranking: Bovine, Sheep, and Goat Fat ranks 627th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $312M

Top Destination (2018): Singapore, $287M

Bovine, Sheep, and Goat Fat are the world's 851st most traded product.

In 2018, the top exporters of Bovine, Sheep, and Goat Fat were United States ($312M), Australia ($240M), Canada ($123M), France ($93.2M), and New Zealand ($88.6M).

In 2018, the top importers of Bovine, Sheep, and Goat Fat were Singapore ($287M), Mexico ($174M), Netherlands ($120M), United States ($106M), and Belgium-Luxembourg ($84M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Canada, $9.73M

Top Destination Growth (2017 - 2018): United States, $45.3M

Between 2017 and 2018, the exports of Bovine, Sheep, and Goat Fat grew the fastest in Canada ($9.73M), United Kingdom ($8.19M), Ireland ($8.14M), Poland ($8.04M), and Italy ($6.4M).

Between 2017 and 2018, the fastest growing importers of Bovine, Sheep, and Goat Fat were United States ($45.3M), Netherlands ($37M), Malaysia ($10.4M), Germany ($6.96M), and Canada ($6.04M).

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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 Bovine, Sheep, and Goat Fat.

In 2018,  market concentration measured using Shannon Entropy, was 3.7. This means that most of the exports of Bovine, Sheep, and Goat Fat are explained by 13 countries.

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TOP NET EXPORTER (2018): Australia, $240M

TOP NET IMPORTER (2018): Singapore, $287M

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

In 2018, the countries that had a largest trade value in exports than in imports of Bovine, Sheep, and Goat Fat were Australia ($240M), United States ($206M), Canada ($94.4M), New Zealand ($87M), and France ($82M).

In 2018, the countries that had a largest trade value in imports than in exports of Bovine, Sheep, and Goat Fat were Singapore ($287M), Mexico ($174M), Netherlands ($80.6M), Belgium-Luxembourg ($70.4M), and China ($68.3M).

Trade Forecasts

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This section shows forecasts for total trade for Bovine, Sheep, and Goat Fat. 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 Bovine, Sheep, and Goat Fat was 9.08%.  The countries with the highest tariffs for importing Bovine, Sheep, and Goat Fat were Tunisia (36%), Bahamas (35.7%), Cameroon (29.4%), Gabon (29.4%), and Chad (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.