HS Icon Waxes

1521 (Harmonized System 1992 for 4-digit)

World Trade (2018): $354M, Rnk 1081 / 1225

Top Exporter (2018): $100M, Brazil

Top Importer (2018): $69.9M, United States

Export Growth (CAGR)(2017 - 2018): -3.32%, Rnk 1129 / 1225

Mean Tariff (2018): 5.15%, Rnk 801 / 1259

Share of World Trade (2018): 0.0019%, Rnk 1081 / 1225

Overview: In 2018, Waxes were the world's 1081st most traded product, with a total trade of $354M. Between 2017 and 2018 the exports of Waxes decreased by -3.32%, from  $366M to $354M. Trade in Waxes represent 0.0019% of total world trade.

Exports: In 2018 the top exporters of Waxes  were Brazil ($100M), China ($57.6M), Germany ($34.6M), United States ($28.1M), and Mexico ($18.2M).

Imports: In 2018 the top importers of Waxes were United States ($69.9M), Germany ($45.9M), Japan ($30.1M), China ($23.5M), and France ($21.5M).

Tariffs: In 2018 the average tariff for Waxes was 5.15%, been the 801 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Waxes are Tunisia (36%), Bahamas (35.7%), Ethiopia (27.2%), Republic of the Congo (26.2%), and Bermuda (25%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Maldives (0%), Singapore (0%), and Switzerland (0%).

Exporters and Importers

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Trade By Country

Top Origin (2018): Brazil, $100M

Top Destination (2018): United States, $69.9M

Waxes are the world's 1081st most traded product.

In 2018, the top exporters of Waxes were Brazil ($100M), China ($57.6M), Germany ($34.6M), United States ($28.1M), and Mexico ($18.2M).

In 2018, the top importers of Waxes were United States ($69.9M), Germany ($45.9M), Japan ($30.1M), China ($23.5M), and France ($21.5M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Belgium-Luxembourg, $2.49M

Top Destination Growth (2017 - 2018): Netherlands, $3.93M

Between 2017 and 2018, the exports of Waxes grew the fastest in Belgium-Luxembourg ($2.49M), Indonesia ($1.84M), United Kingdom ($1.77M), Vietnam ($1.6M), and Australia ($1.6M).

Between 2017 and 2018, the fastest growing importers of Waxes were Netherlands ($3.93M), Canada ($2.32M), United States ($2.23M), Denmark ($1.52M), and Poland ($1.4M).

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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 Waxes.

In 2018,  market concentration measured using Shannon Entropy, was 3.86. This means that most of the exports of Waxes are explained by 14 countries.

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TOP NET EXPORTER (2018): Brazil, $100M

TOP NET IMPORTER (2018): United States, $41.8M

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

In 2018, the countries that had a largest trade value in exports than in imports of Waxes were Brazil ($100M), China ($34M), Mexico ($14.2M), Vietnam ($9.62M), and Indonesia ($8.66M).

In 2018, the countries that had a largest trade value in imports than in exports of Waxes were United States ($41.8M), Japan ($22M), Germany ($11.3M), France ($11.2M), and Italy ($8.81M).

Trade Forecasts

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This section shows forecasts for total trade for Waxes. 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 Waxes was 5.15%.  The countries with the highest tariffs for importing Waxes were Tunisia (36%), Bahamas (35.7%), Ethiopia (27.2%), Republic of the Congo (26.2%), and Bermuda (25%).

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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.