HS Icon Unsaturated Acyclic Monocarboxylic Acids

2916 (Harmonized System 1992 for 4-digit)

World Trade (2018): $11.5B, Rnk 297 / 1225

Top Exporter (2018): $1.99B, China

Top Importer (2018): $1.08B, United States

Product Complexity (2018): 1.06, Rnk 154 / 1018

Export Growth (CAGR)(2017 - 2018): 19.2%, Rnk 353 / 1225

Mean Tariff (2018): 4.25%, Rnk 946 / 1259

Share of World Trade (2018): 0.063%, Rnk 297 / 1225

Overview: In 2018, Unsaturated Acyclic Monocarboxylic Acids were the world's 297th most traded product, with a total trade of $11.5B. Between 2017 and 2018 the exports of Unsaturated Acyclic Monocarboxylic Acids grew by 19.2%, from  $9.64B to $11.5B. Trade in Unsaturated Acyclic Monocarboxylic Acids represent 0.063% of total world trade.

Exports: In 2018 the top exporters of Unsaturated Acyclic Monocarboxylic Acids  were China ($1.99B), Germany ($1.23B), United States ($1.1B), Belgium-Luxembourg ($849M), and Japan ($782M).

Imports: In 2018 the top importers of Unsaturated Acyclic Monocarboxylic Acids were United States ($1.08B), Belgium-Luxembourg ($823M), Netherlands ($771M), India ($770M), and Germany ($715M).

Tariffs: In 2018 the average tariff for Unsaturated Acyclic Monocarboxylic Acids was 4.25%, been the 946 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Unsaturated Acyclic Monocarboxylic Acids are Bahamas (40.2%), Bermuda (25%), Maldives (14.7%), Romania (13.6%), and Algeria (11.4%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Unsaturated Acyclic Monocarboxylic Acids ranks 154th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $1.99B

Top Destination (2018): United States, $1.08B

Unsaturated Acyclic Monocarboxylic Acids are the world's 297th most traded product.

In 2018, the top exporters of Unsaturated Acyclic Monocarboxylic Acids were China ($1.99B), Germany ($1.23B), United States ($1.1B), Belgium-Luxembourg ($849M), and Japan ($782M).

In 2018, the top importers of Unsaturated Acyclic Monocarboxylic Acids were United States ($1.08B), Belgium-Luxembourg ($823M), Netherlands ($771M), India ($770M), and Germany ($715M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Saudi Arabia, $477M

Top Destination Growth (2017 - 2018): Netherlands, $262M

Between 2017 and 2018, the exports of Unsaturated Acyclic Monocarboxylic Acids grew the fastest in Saudi Arabia ($477M), China ($339M), Belgium-Luxembourg ($323M), United States ($141M), and Chinese Taipei ($91.3M).

Between 2017 and 2018, the fastest growing importers of Unsaturated Acyclic Monocarboxylic Acids were Netherlands ($262M), France ($128M), India ($119M), Italy ($104M), and China ($101M).

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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 Unsaturated Acyclic Monocarboxylic Acids.

In 2018,  market concentration measured using Shannon Entropy, was 4.19. This means that most of the exports of Unsaturated Acyclic Monocarboxylic Acids are explained by 18 countries.

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TOP NET EXPORTER (2018): China, $1.35B

TOP NET IMPORTER (2018): India, $469M

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

In 2018, the countries that had a largest trade value in exports than in imports of Unsaturated Acyclic Monocarboxylic Acids were China ($1.35B), Saudi Arabia ($629M), Germany ($514M), Japan ($469M), and United Kingdom ($252M).

In 2018, the countries that had a largest trade value in imports than in exports of Unsaturated Acyclic Monocarboxylic Acids were India ($469M), Netherlands ($326M), Turkey ($307M), Mexico ($299M), and Spain ($242M).

Trade Forecasts

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This section shows forecasts for total trade for Unsaturated Acyclic Monocarboxylic Acids. 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 Unsaturated Acyclic Monocarboxylic Acids was 4.25%.  The countries with the highest tariffs for importing Unsaturated Acyclic Monocarboxylic Acids were Bahamas (40.2%), Bermuda (25%), Maldives (14.7%), Romania (13.6%), and Algeria (11.4%).

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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.