HS Icon Animal Extracts

1603 (Harmonized System 1992 for 4-digit)

World Trade (2018): $279M, Rnk 1108 / 1225

Top Exporter (2018): $32M, New Zealand

Top Importer (2018): $34.3M, Japan

Export Growth (CAGR)(2017 - 2018): 11%, Rnk 717 / 1225

Mean Tariff (2018): 16.9%, Rnk 152 / 1259

Share of World Trade (2018): 0.0015%, Rnk 1108 / 1225

Overview: In 2018, Animal Extracts were the world's 1108th most traded product, with a total trade of $279M. Between 2017 and 2018 the exports of Animal Extracts grew by 11%, from  $251M to $279M. Trade in Animal Extracts represent 0.0015% of total world trade.

Exports: In 2018 the top exporters of Animal Extracts  were New Zealand ($32M), Brazil ($28.2M), France ($25M), China ($24M), and Italy ($23.6M).

Imports: In 2018 the top importers of Animal Extracts were Japan ($34.3M), United States ($34M), Netherlands ($21.3M), South Korea ($20.7M), and Canada ($20.3M).

Tariffs: In 2018 the average tariff for Animal Extracts was 16.9%, been the 152 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Animal Extracts are Turkey (51%), Cyprus (50%), Syria (46%), Austria (36.2%), and Tunisia (36%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Singapore (0%), Switzerland (0%), and Norway (0%).

Exporters and Importers

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Trade By Country

Top Origin (2018): New Zealand, $32M

Top Destination (2018): Japan, $34.3M

Animal Extracts are the world's 1108th most traded product.

In 2018, the top exporters of Animal Extracts were New Zealand ($32M), Brazil ($28.2M), France ($25M), China ($24M), and Italy ($23.6M).

In 2018, the top importers of Animal Extracts were Japan ($34.3M), United States ($34M), Netherlands ($21.3M), South Korea ($20.7M), and Canada ($20.3M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Italy, $10M

Top Destination Growth (2017 - 2018): United States, $16.4M

Between 2017 and 2018, the exports of Animal Extracts grew the fastest in Italy ($10M), France ($6.21M), China ($5.28M), Belgium-Luxembourg ($4.09M), and Brazil ($3.91M).

Between 2017 and 2018, the fastest growing importers of Animal Extracts were United States ($16.4M), Netherlands ($9.26M), Canada ($4.7M), Hong Kong ($4.63M), and Japan ($3.52M).

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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 Animal Extracts.

In 2018,  market concentration measured using Shannon Entropy, was 4.36. This means that most of the exports of Animal Extracts are explained by 20 countries.

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TOP NET EXPORTER (2018): New Zealand, $31.1M

TOP NET IMPORTER (2018): Japan, $31.5M

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

In 2018, the countries that had a largest trade value in exports than in imports of Animal Extracts were New Zealand ($31.1M), Brazil ($28.1M), China ($22.2M), Italy ($20.1M), and Thailand ($17.8M).

In 2018, the countries that had a largest trade value in imports than in exports of Animal Extracts were Japan ($31.5M), Netherlands ($17.8M), Canada ($16M), United States ($15.6M), and South Korea ($14.5M).

Trade Forecasts

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This section shows forecasts for total trade for Animal Extracts. 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 Extracts was 16.9%.  The countries with the highest tariffs for importing Animal Extracts were Turkey (51%), Cyprus (50%), Syria (46%), Austria (36.2%), and Tunisia (36%).

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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.