Overview: In 2018, Chemical Products were the world's 4th most traded product, with a total trade of $1.8T. Between 2017 and 2018 the exports of Chemical Products grew by 17.8%, from $1.53T to $1.8T. Trade in Chemical Products represent 9.81% of total world trade.
Exports: In 2018 the top exporters of Chemical Products were Germany ($205B), United States ($178B), China ($142B), Ireland ($106B), and Belgium-Luxembourg ($104B).
Imports: In 2018 the top importers of Chemical Products were United States ($230B), Germany ($141B), China ($133B), Belgium-Luxembourg ($85B), and Netherlands ($71.5B).
Tariffs: In 2018 the average tariff for Chemical Products was 4.99%, been the 20 lowest tariff using the Section product classification.
The countries with the highest import tariffs for Chemical Products are Bahamas (34.4%), Bermuda (22.2%), Iran (14.1%), Romania (13%), and Algeria (12.6%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), Mauritius (0.2%), and Canada (0.42%).
Ranking: Chemical Products ranks 10th in the Product Complexity Index (PCI).