HS Icon Asphalt

2714 (Harmonized System 1992 for 4-digit)

World Trade (2018): $996M, Rnk 913 / 1225

Top Exporter (2018): $180M, United States

Top Importer (2018): $222M, Egypt

Product Complexity (2018): -0.94, Rnk 804 / 1018

Export Growth (CAGR)(2017 - 2018): 49.4%, Rnk 71 / 1225

Mean Tariff (2018): 5.15%, Rnk 802 / 1259

Share of World Trade (2018): 0.0054%, Rnk 913 / 1225

Overview: In 2018, Asphalt were the world's 913th most traded product, with a total trade of $996M. Between 2017 and 2018 the exports of Asphalt grew by 49.4%, from  $667M to $996M. Trade in Asphalt represent 0.0054% of total world trade.

Exports: In 2018 the top exporters of Asphalt  were United States ($180M), Italy ($166M), Greece ($153M), Iran ($74.2M), and Spain ($58.6M).

Imports: In 2018 the top importers of Asphalt were Egypt ($222M), United States ($200M), Canada ($86.7M), Oman ($54.8M), and Spain ($43.3M).

Tariffs: In 2018 the average tariff for Asphalt was 5.15%, been the 802 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Asphalt are Trinidad and Tobago (28.4%), Bermuda (25%), Belize (20.9%), Jamaica (17.5%), and Barbados (16.2%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), Sri Lanka (0%), and Maldives (0%).

Ranking: Asphalt ranks 804th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $180M

Top Destination (2018): Egypt, $222M

Asphalt are the world's 913th most traded product.

In 2018, the top exporters of Asphalt were United States ($180M), Italy ($166M), Greece ($153M), Iran ($74.2M), and Spain ($58.6M).

In 2018, the top importers of Asphalt were Egypt ($222M), United States ($200M), Canada ($86.7M), Oman ($54.8M), and Spain ($43.3M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $106M

Top Destination Growth (2017 - 2018): United States, $122M

Between 2017 and 2018, the exports of Asphalt grew the fastest in United States ($106M), Greece ($87.2M), Italy ($61.2M), Canada ($30.6M), and China ($24.3M).

Between 2017 and 2018, the fastest growing importers of Asphalt were United States ($122M), Egypt ($98.8M), Costa Rica ($32.3M), Spain ($24.9M), and Canada ($22.9M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Asphalt.

In 2018,  market concentration measured using Shannon Entropy, was 4.06. This means that most of the exports of Asphalt are explained by 16 countries.

TOP NET EXPORTER (2018): Italy, $165M

TOP NET IMPORTER (2018): Egypt, $222M

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

In 2018, the countries that had a largest trade value in exports than imports of Asphalt were Italy ($165M), Greece ($153M), Iran ($74.1M), Belgium-Luxembourg ($25.8M), and China ($25.2M).

In 2018, the countries that had a largest trade value in imports than exports of Asphalt were Egypt ($222M), Oman ($54.6M), Canada ($46.7M), Costa Rica ($32.3M), and Philippines ($27.3M).

Trade Forecasts

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This section shows forecasts for total trade for Asphalt. 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 Asphalt was 5.15%.  The countries with the highest tariffs for importing Asphalt were Trinidad and Tobago (28.4%), Bermuda (25%), Belize (20.9%), Jamaica (17.5%), and Barbados (16.2%).

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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.