HS Icon Baked Goods

1905 (Harmonized System 1992 for 4-digit)

World Trade (2018): $36.5B, Rnk 100 / 1225

Top Exporter (2018): $4.17B, Germany

Top Importer (2018): $5.56B, United States

Product Complexity (2018): -0.42, Rnk 673 / 1018

Export Growth (CAGR)(2017 - 2018): 12.5%, Rnk 645 / 1225

Mean Tariff (2018): 25.9%, Rnk 39 / 1259

Share of World Trade (2018): 0.2%, Rnk 100 / 1225

Overview: In 2018, Baked Goods were the world's 100th most traded product, with a total trade of $36.5B. Between 2017 and 2018 the exports of Baked Goods grew by 12.5%, from  $32.4B to $36.5B. Trade in Baked Goods represent 0.2% of total world trade.

Exports: In 2018 the top exporters of Baked Goods  were Germany ($4.17B), Canada ($2.83B), Italy ($2.46B), Belgium-Luxembourg ($2.41B), and France ($2.38B).

Imports: In 2018 the top importers of Baked Goods were United States ($5.56B), United Kingdom ($2.76B), Germany ($2.56B), France ($2.31B), and Canada ($1.57B).

Tariffs: In 2018 the average tariff for Baked Goods was 25.9%, been the 39 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Baked Goods are Syria (73.5%), Austria (71.7%), Cyprus (63.6%), Bulgaria (47.2%), and Iran (39.1%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Singapore (0%), Switzerland (0%), and Norway (0%).

Ranking: Baked Goods ranks 673rd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $4.17B

Top Destination (2018): United States, $5.56B

Baked Goods are the world's 100th most traded product.

In 2018, the top exporters of Baked Goods were Germany ($4.17B), Canada ($2.83B), Italy ($2.46B), Belgium-Luxembourg ($2.41B), and France ($2.38B).

In 2018, the top importers of Baked Goods were United States ($5.56B), United Kingdom ($2.76B), Germany ($2.56B), France ($2.31B), and Canada ($1.57B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Canada, $378M

Top Destination Growth (2017 - 2018): United States, $511M

Between 2017 and 2018, the exports of Baked Goods grew the fastest in Canada ($378M), Germany ($362M), Netherlands ($291M), Belgium-Luxembourg ($281M), and United States ($272M).

Between 2017 and 2018, the fastest growing importers of Baked Goods were United States ($511M), Canada ($327M), Germany ($255M), United Kingdom ($233M), and Saudi Arabia ($228M).

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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 Baked Goods.

In 2018,  market concentration measured using Shannon Entropy, was 5.05. This means that most of the exports of Baked Goods are explained by 33 countries.

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TOP NET EXPORTER (2018): Germany, $1.62B

TOP NET IMPORTER (2018): United States, $3.56B

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

In 2018, the countries that had a largest trade value in exports than in imports of Baked Goods were Germany ($1.62B), Italy ($1.45B), Poland ($1.32B), Canada ($1.26B), and Belgium-Luxembourg ($1.15B).

In 2018, the countries that had a largest trade value in imports than in exports of Baked Goods were United States ($3.56B), United Kingdom ($1.49B), Australia ($493M), Iraq ($404M), and Switzerland ($333M).

Trade Forecasts

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This section shows forecasts for total trade for Baked Goods. 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 Baked Goods was 25.9%.  The countries with the highest tariffs for importing Baked Goods were Syria (73.5%), Austria (71.7%), Cyprus (63.6%), Bulgaria (47.2%), and Iran (39.1%).

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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.