HS Icon Rum and tafia

220840 (Harmonized System 1992 for 6-digit)

World Trade (2018): $1.64B, Rnk 1519 / 4726

Top Exporter (2018): $159M, United States

Top Importer (2018): $174M, Germany

Product Complexity (2018): -0.92, Rnk 3917 / 4873

Export Growth (CAGR)(2017 - 2018): 6.46%, Rnk 3153 / 4726

Mean Tariff (2018): 33.4%, Rnk 64 / 6538

Share of World Trade (2018): 0.0089%, Rnk 1519 / 4726

Overview:  This page contains the latest trade data of Rum and tafia. In 2018, Rum and tafia were the world's 1519th most traded product, with a total trade of $1.64B. Between 2017 and 2018 the exports of Rum and tafia grew by 6.46%, from  $1.54B to $1.64B. Trade in Rum and tafia represent 0.0089% of total world trade.

Exports: In 2018 the top exporters of Rum and tafia  were United States ($159M), Germany ($150M), Italy ($142M), Cuba ($105M), and Dominican Republic ($105M).

Imports: In 2018 the top importers of Rum and tafia were Germany ($174M), Spain ($161M), United States ($132M), Italy ($107M), and United Kingdom ($101M).

Tariffs: In 2018 the average tariff for Rum and tafia was 33.4%, been the 64 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Rum and tafia are Egypt (2.63k%), Poland (258%), Cyprus (199%), Jordan (196%), and Indonesia (150%). The countries with the lowest tariffs are Liberia (0%), South Africa (0%), United Arab Emirates (0%), Armenia (0%), and Hong Kong (0%).

Ranking: Rum and tafia ranks 3917th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $159M

Top Destination (2018): Germany, $174M

Rum and tafia are the world's 1519th most traded product.

In 2018, the top exporters of Rum and tafia were United States ($159M), Germany ($150M), Italy ($142M), Cuba ($105M), and Dominican Republic ($105M).

In 2018, the top importers of Rum and tafia were Germany ($174M), Spain ($161M), United States ($132M), Italy ($107M), and United Kingdom ($101M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Italy, $67.7M

Top Destination Growth (2017 - 2018): Netherlands, $23.7M

Between 2017 and 2018, the exports of Rum and tafia grew the fastest in Italy ($67.7M), Belgium-Luxembourg ($22.8M), France ($15.7M), Guyana ($10M), and Denmark ($9.73M).

Between 2017 and 2018, the fastest growing importers of Rum and tafia were Netherlands ($23.7M), Belgium-Luxembourg ($22.4M), Czechia ($17.7M), Canada ($14.3M), and France ($11M).

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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 Rum and tafia.

In 2018,  market concentration measured using Shannon Entropy, was 4.75. This means that most of the exports of Rum and tafia are explained by 26 countries.

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TOP NET EXPORTER (2018): Cuba, $105M

TOP NET IMPORTER (2018): Spain, $82.1M

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

In 2018, the countries that had a largest trade value in exports than in imports of Rum and tafia were Cuba ($105M), Dominican Republic ($104M), Guatemala ($98.1M), Venezuela ($64.5M), and Jamaica ($59.3M).

In 2018, the countries that had a largest trade value in imports than in exports of Rum and tafia were Spain ($82.1M), Canada ($58.9M), Russia ($43.3M), United Kingdom ($39.8M), and Czechia ($38.4M).

Trade Forecasts

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This section shows forecasts for total trade for Rum and tafia. 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 Rum and tafia was 33.4%.  The countries with the highest tariffs for importing Rum and tafia were Egypt (2.63k%), Poland (258%), Cyprus (199%), Jordan (196%), and Indonesia (150%).

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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.