HS Icon Propane, liquefied

271112 (Harmonized System 1992 for 6-digit)

World Trade (2018): $36.8B, Rnk 63 / 4726

Top Exporter (2018): $14.6B, United States

Top Importer (2018): $6.92B, China

Product Complexity (2018): -1.65, Rnk 4576 / 4873

Export Growth (CAGR)(2017 - 2018): 22%, Rnk 1242 / 4726

Mean Tariff (2018): 4.72%, Rnk 4360 / 6538

Share of World Trade (2018): 0.2%, Rnk 63 / 4726

Overview: In 2018, Propane, liquefied were the world's 63rd most traded product, with a total trade of $36.8B. Between 2017 and 2018 the exports of Propane, liquefied grew by 22%, from  $30.1B to $36.8B. Trade in Propane, liquefied represent 0.2% of total world trade.

Exports: In 2018 the top exporters of Propane, liquefied  were United States ($14.6B), United Arab Emirates ($3.55B), Qatar ($3.08B), Canada ($2.02B), and Saudi Arabia ($1.73B).

Imports: In 2018 the top importers of Propane, liquefied were China ($6.92B), Japan ($4B), India ($3.11B), Mexico ($2.18B), and South Korea ($2.03B).

Tariffs: In 2018 the average tariff for Propane, liquefied was 4.72%, been the 4360 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Propane, liquefied are Bermuda (25%), Jordan (23.3%), Iran (19.5%), Nepal (15%), and Algeria (14.6%). The countries with the lowest tariffs are Kenya (0%), Madagascar (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Propane, liquefied ranks 4576th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $14.6B

Top Destination (2018): China, $6.92B

Propane, liquefied are the world's 63rd most traded product.

In 2018, the top exporters of Propane, liquefied were United States ($14.6B), United Arab Emirates ($3.55B), Qatar ($3.08B), Canada ($2.02B), and Saudi Arabia ($1.73B).

In 2018, the top importers of Propane, liquefied were China ($6.92B), Japan ($4B), India ($3.11B), Mexico ($2.18B), and South Korea ($2.03B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $3.27B

Top Destination Growth (2017 - 2018): India, $1.24B

Between 2017 and 2018, the exports of Propane, liquefied grew the fastest in United States ($3.27B), Qatar ($728M), Russia ($591M), Canada ($390M), and United Arab Emirates ($355M).

Between 2017 and 2018, the fastest growing importers of Propane, liquefied were India ($1.24B), Netherlands ($754M), China ($747M), Chinese Taipei ($669M), and Mexico ($455M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Propane, liquefied.

In 2018,  market concentration measured using Shannon Entropy, was 3.52. This means that most of the exports of Propane, liquefied are explained by 11 countries.

TOP NET EXPORTER (2018): United States, $12.7B

TOP NET IMPORTER (2018): China, $6.66B

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

In 2018, the countries that had a largest trade value in exports than imports of Propane, liquefied were United States ($12.7B), United Arab Emirates ($3.55B), Qatar ($3.08B), Canada ($1.92B), and Saudi Arabia ($1.72B).

In 2018, the countries that had a largest trade value in imports than exports of Propane, liquefied were China ($6.66B), Japan ($3.95B), India ($3.09B), Mexico ($2.18B), and South Korea ($1.83B).

Trade Forecasts

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This section shows forecasts for total trade for Propane, liquefied. 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 Propane, liquefied was 4.72%.  The countries with the highest tariffs for importing Propane, liquefied were Bermuda (25%), Jordan (23.3%), Iran (19.5%), Nepal (15%), and Algeria (14.6%).

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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.