HS Icon Carboxylic Acids

2918 (Harmonized System 1992 for 4-digit)

World Trade (2018): $8.65B, Rnk 364 / 1225

Top Exporter (2018): $2.93B, China

Top Importer (2018): $1.3B, United States

Product Complexity (2018): 0.17, Rnk 476 / 1018

Export Growth (CAGR)(2017 - 2018): 13%, Rnk 613 / 1225

Mean Tariff (2018): 4.83%, Rnk 847 / 1259

Share of World Trade (2018): 0.047%, Rnk 364 / 1225

Overview:  This page contains the latest trade data of Carboxylic Acids. In 2018, Carboxylic Acids were the world's 364th most traded product, with a total trade of $8.65B. Between 2017 and 2018 the exports of Carboxylic Acids grew by 13%, from  $7.65B to $8.65B. Trade in Carboxylic Acids represent 0.047% of total world trade.

Exports: In 2018 the top exporters of Carboxylic Acids  were China ($2.93B), Germany ($553M), India ($527M), Italy ($431M), and United States ($417M).

Imports: In 2018 the top importers of Carboxylic Acids were United States ($1.3B), Germany ($713M), India ($496M), Japan ($467M), and Italy ($376M).

Tariffs: In 2018 the average tariff for Carboxylic Acids was 4.83%, been the 847 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Carboxylic Acids are Bahamas (40.2%), Bermuda (25%), Iran (20.3%), Maldives (14.7%), and Algeria (12.2%). The countries with the lowest tariffs are Kenya (0%), Mauritius (0%), Rwanda (0%), Tanzania (0%), and Uganda (0%).

Ranking: Carboxylic Acids ranks 476th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $2.93B

Top Destination (2018): United States, $1.3B

Carboxylic Acids are the world's 364th most traded product.

In 2018, the top exporters of Carboxylic Acids were China ($2.93B), Germany ($553M), India ($527M), Italy ($431M), and United States ($417M).

In 2018, the top importers of Carboxylic Acids were United States ($1.3B), Germany ($713M), India ($496M), Japan ($467M), and Italy ($376M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $211M

Top Destination Growth (2017 - 2018): United States, $247M

Between 2017 and 2018, the exports of Carboxylic Acids grew the fastest in China ($211M), Italy ($88.4M), Austria ($82.5M), Germany ($79.7M), and Belgium-Luxembourg ($72.3M).

Between 2017 and 2018, the fastest growing importers of Carboxylic Acids were United States ($247M), Germany ($82.5M), Netherlands ($75.7M), Spain ($75M), and India ($52.4M).

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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 Carboxylic Acids.

In 2018,  market concentration measured using Shannon Entropy, was 3.96. This means that most of the exports of Carboxylic Acids are explained by 15 countries.

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TOP NET EXPORTER (2018): China, $2.71B

TOP NET IMPORTER (2018): United States, $886M

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

In 2018, the countries that had a largest trade value in exports than in imports of Carboxylic Acids were China ($2.71B), Austria ($316M), Thailand ($144M), Chinese Taipei ($112M), and Belgium-Luxembourg ($65.4M).

In 2018, the countries that had a largest trade value in imports than in exports of Carboxylic Acids were United States ($886M), Germany ($160M), Japan ($158M), Russia ($157M), and Spain ($147M).

Trade Forecasts

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This section shows forecasts for total trade for Carboxylic 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 Carboxylic Acids was 4.83%.  The countries with the highest tariffs for importing Carboxylic Acids were Bahamas (40.2%), Bermuda (25%), Iran (20.3%), Maldives (14.7%), and Algeria (12.2%).

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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.