HS Icon Phenols

2907 (Harmonized System 1992 for 4-digit)

World Trade (2018): $7.99B, Rnk 387 / 1225

Top Exporter (2018): $1.16B, South Korea

Top Importer (2018): $1.59B, China

Product Complexity (2018): 1.48, Rnk 50 / 1018

Export Growth (CAGR)(2017 - 2018): 31.3%, Rnk 160 / 1225

Mean Tariff (2018): 2.85%, Rnk 1156 / 1259

Share of World Trade (2018): 0.043%, Rnk 387 / 1225

Overview:  This page contains the latest trade data of Phenols. In 2018, Phenols were the world's 387th most traded product, with a total trade of $7.99B. Between 2017 and 2018 the exports of Phenols grew by 31.3%, from  $6.08B to $7.99B. Trade in Phenols represent 0.043% of total world trade.

Exports: In 2018 the top exporters of Phenols  were South Korea ($1.16B), Belgium-Luxembourg ($791M), Germany ($705M), United States ($627M), and Chinese Taipei ($563M).

Imports: In 2018 the top importers of Phenols were China ($1.59B), India ($717M), Netherlands ($688M), Germany ($686M), and Belgium-Luxembourg ($615M).

Tariffs: In 2018 the average tariff for Phenols was 2.85%, been the 1156 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Phenols are Bahamas (40.2%), Bermuda (25%), Maldives (14.7%), Algeria (12.2%), and Ethiopia (9.9%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Phenols ranks 50th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): South Korea, $1.16B

Top Destination (2018): China, $1.59B

Phenols are the world's 387th most traded product.

In 2018, the top exporters of Phenols were South Korea ($1.16B), Belgium-Luxembourg ($791M), Germany ($705M), United States ($627M), and Chinese Taipei ($563M).

In 2018, the top importers of Phenols were China ($1.59B), India ($717M), Netherlands ($688M), Germany ($686M), and Belgium-Luxembourg ($615M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): South Korea, $421M

Top Destination Growth (2017 - 2018): China, $590M

Between 2017 and 2018, the exports of Phenols grew the fastest in South Korea ($421M), Saudi Arabia ($274M), Chinese Taipei ($271M), Belgium-Luxembourg ($239M), and Thailand ($155M).

Between 2017 and 2018, the fastest growing importers of Phenols were China ($590M), Japan ($196M), India ($147M), Netherlands ($143M), and Chinese Taipei ($112M).

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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 Phenols.

In 2018,  market concentration measured using Shannon Entropy, was 4.1. This means that most of the exports of Phenols are explained by 17 countries.

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TOP NET EXPORTER (2018): South Korea, $782M

TOP NET IMPORTER (2018): China, $1.15B

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

In 2018, the countries that had a largest trade value in exports than in imports of Phenols were South Korea ($782M), Singapore ($404M), United States ($370M), Spain ($334M), and Saudi Arabia ($252M).

In 2018, the countries that had a largest trade value in imports than in exports of Phenols were China ($1.15B), Netherlands ($492M), India ($481M), Poland ($119M), and United Kingdom ($80.8M).

Trade Forecasts

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This section shows forecasts for total trade for Phenols. 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 Phenols was 2.85%.  The countries with the highest tariffs for importing Phenols were Bahamas (40.2%), Bermuda (25%), Maldives (14.7%), Algeria (12.2%), and Ethiopia (9.9%).

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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.