HS Icon Nitrile Compounds

2926 (Harmonized System 1992 for 4-digit)

World Trade (2018): $6.57B, Rnk 439 / 1225

Top Exporter (2018): $1.46B, United States

Top Importer (2018): $912M, China

Product Complexity (2018): 0.9, Rnk 205 / 1018

Export Growth (CAGR)(2017 - 2018): 34.4%, Rnk 138 / 1225

Mean Tariff (2018): 3.84%, Rnk 1031 / 1259

Share of World Trade (2018): 0.036%, Rnk 439 / 1225

Overview:  This page contains the latest trade data of Nitrile Compounds. In 2018, Nitrile Compounds were the world's 439th most traded product, with a total trade of $6.57B. Between 2017 and 2018 the exports of Nitrile Compounds grew by 34.4%, from  $4.89B to $6.57B. Trade in Nitrile Compounds represent 0.036% of total world trade.

Exports: In 2018 the top exporters of Nitrile Compounds  were United States ($1.46B), China ($980M), Netherlands ($488M), South Korea ($469M), and Germany ($446M).

Imports: In 2018 the top importers of Nitrile Compounds were China ($912M), South Korea ($755M), India ($597M), Turkey ($426M), and Belgium-Luxembourg ($336M).

Tariffs: In 2018 the average tariff for Nitrile Compounds was 3.84%, been the 1031 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Nitrile Compounds are Bahamas (40.2%), Bermuda (25%), Maldives (14.7%), Algeria (13.3%), and Romania (12.5%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Nitrile Compounds ranks 205th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $1.46B

Top Destination (2018): China, $912M

Nitrile Compounds are the world's 439th most traded product.

In 2018, the top exporters of Nitrile Compounds were United States ($1.46B), China ($980M), Netherlands ($488M), South Korea ($469M), and Germany ($446M).

In 2018, the top importers of Nitrile Compounds were China ($912M), South Korea ($755M), India ($597M), Turkey ($426M), and Belgium-Luxembourg ($336M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $716M

Top Destination Growth (2017 - 2018): South Korea, $413M

Between 2017 and 2018, the exports of Nitrile Compounds grew the fastest in United States ($716M), Chinese Taipei ($215M), China ($202M), Netherlands ($126M), and Germany ($101M).

Between 2017 and 2018, the fastest growing importers of Nitrile Compounds were South Korea ($413M), China ($260M), India ($249M), Italy ($115M), and Belgium-Luxembourg ($109M).

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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 Nitrile Compounds.

In 2018,  market concentration measured using Shannon Entropy, was 3.77. This means that most of the exports of Nitrile Compounds are explained by 13 countries.

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TOP NET EXPORTER (2018): United States, $1.13B

TOP NET IMPORTER (2018): Turkey, $396M

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

In 2018, the countries that had a largest trade value in exports than in imports of Nitrile Compounds were United States ($1.13B), Netherlands ($290M), Chinese Taipei ($226M), Russia ($210M), and Germany ($167M).

In 2018, the countries that had a largest trade value in imports than in exports of Nitrile Compounds were Turkey ($396M), India ($382M), Italy ($290M), South Korea ($285M), and Mexico ($207M).

Trade Forecasts

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This section shows forecasts for total trade for Nitrile Compounds. 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 Nitrile Compounds was 3.84%.  The countries with the highest tariffs for importing Nitrile Compounds were Bahamas (40.2%), Bermuda (25%), Maldives (14.7%), Algeria (13.3%), and Romania (12.5%).

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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.