HS Icon Borax

2528 (Harmonized System 1992 for 4-digit)

World Trade (2018): $418M, Rnk 1064 / 1225

Top Exporter (2018): $302M, Turkey

Top Importer (2018): $150M, China

Export Growth (CAGR)(2017 - 2018): 14.9%, Rnk 526 / 1225

Mean Tariff (2018): 2.81%, Rnk 1159 / 1259

Share of World Trade (2018): 0.0023%, Rnk 1064 / 1225

Overview:  This page contains the latest trade data of Borax. In 2018, Borax were the world's 1064th most traded product, with a total trade of $418M. Between 2017 and 2018 the exports of Borax grew by 14.9%, from  $364M to $418M. Trade in Borax represent 0.0023% of total world trade.

Exports: In 2018 the top exporters of Borax  were Turkey ($302M), Bolivia ($42M), Argentina ($16.7M), Austria ($14M), and Chile ($7.6M).

Imports: In 2018 the top importers of Borax were China ($150M), United States ($38.5M), Brazil ($34.8M), India ($26.3M), and Chinese Taipei ($14.9M).

Tariffs: In 2018 the average tariff for Borax was 2.81%, been the 1159 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Borax are Bahamas (40.2%), Bermuda (25%), Cambodia (15%), Georgia (11.4%), and Panama (10%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), South Africa (0%), Hong Kong (0%), and Japan (0%).

Exporters and Importers

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Trade By Country

Top Origin (2018): Turkey, $302M

Top Destination (2018): China, $150M

Borax are the world's 1064th most traded product.

In 2018, the top exporters of Borax were Turkey ($302M), Bolivia ($42M), Argentina ($16.7M), Austria ($14M), and Chile ($7.6M).

In 2018, the top importers of Borax were China ($150M), United States ($38.5M), Brazil ($34.8M), India ($26.3M), and Chinese Taipei ($14.9M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Turkey, $28.6M

Top Destination Growth (2017 - 2018): China, $13.7M

Between 2017 and 2018, the exports of Borax grew the fastest in Turkey ($28.6M), Bolivia ($5.55M), Austria ($4.37M), Israel ($4.27M), and Netherlands ($2.49M).

Between 2017 and 2018, the fastest growing importers of Borax were China ($13.7M), Romania ($10.4M), India ($5.09M), Czechia ($4.4M), and Palestine ($4.26M).

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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 Borax.

In 2018,  market concentration measured using Shannon Entropy, was 1.74. This means that most of the exports of Borax are explained by 3 countries.

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TOP NET EXPORTER (2018): Turkey, $302M

TOP NET IMPORTER (2018): China, $148M

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

In 2018, the countries that had a largest trade value in exports than in imports of Borax were Turkey ($302M), Bolivia ($42M), Argentina ($16.3M), Chile ($7.46M), and Israel ($4.27M).

In 2018, the countries that had a largest trade value in imports than in exports of Borax were China ($148M), United States ($35.6M), Brazil ($34.7M), India ($26.2M), and Chinese Taipei ($14.9M).

Trade Forecasts

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This section shows forecasts for total trade for Borax. 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 Borax was 2.81%.  The countries with the highest tariffs for importing Borax were Bahamas (40.2%), Bermuda (25%), Cambodia (15%), Georgia (11.4%), and Panama (10%).

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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.