HS Icon Isocyanates

292910 (Harmonized System 1992 for 6-digit)

World Trade (2018): $7.39B, Rnk 442 / 4726

Top Exporter (2018): $1.3B, South Korea

Top Importer (2018): $720M, China

Product Complexity (2018): 0.88, Rnk 991 / 4873

Export Growth (CAGR)(2017 - 2018): 15.2%, Rnk 1868 / 4726

Mean Tariff (2018): 3.89%, Rnk 5081 / 6538

Share of World Trade (2018): 0.04%, Rnk 442 / 4726

Overview:  This page contains the latest trade data of Isocyanates. In 2018, Isocyanates were the world's 442nd most traded product, with a total trade of $7.39B. Between 2017 and 2018 the exports of Isocyanates grew by 15.2%, from  $6.42B to $7.39B. Trade in Isocyanates represent 0.04% of total world trade.

Exports: In 2018 the top exporters of Isocyanates  were South Korea ($1.3B), Germany ($1.24B), Hungary ($920M), China ($778M), and United States ($640M).

Imports: In 2018 the top importers of Isocyanates were China ($720M), Italy ($437M), Germany ($368M), Belgium-Luxembourg ($352M), and Brazil ($348M).

Tariffs: In 2018 the average tariff for Isocyanates was 3.89%, been the 5081 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Isocyanates are Bahamas (40.2%), Bermuda (25%), Romania (17.2%), Maldives (14.7%), and Algeria (12.2%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Isocyanates ranks 991st in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): South Korea, $1.3B

Top Destination (2018): China, $720M

Isocyanates are the world's 442nd most traded product.

In 2018, the top exporters of Isocyanates were South Korea ($1.3B), Germany ($1.24B), Hungary ($920M), China ($778M), and United States ($640M).

In 2018, the top importers of Isocyanates were China ($720M), Italy ($437M), Germany ($368M), Belgium-Luxembourg ($352M), and Brazil ($348M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Saudi Arabia, $509M

Top Destination Growth (2017 - 2018): China, $204M

Between 2017 and 2018, the exports of Isocyanates grew the fastest in Saudi Arabia ($509M), Belgium-Luxembourg ($172M), United States ($81.8M), Hungary ($72.5M), and South Korea ($68.9M).

Between 2017 and 2018, the fastest growing importers of Isocyanates were China ($204M), Brazil ($82.9M), Germany ($70.7M), United Arab Emirates ($68.2M), and Italy ($60M).

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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 Isocyanates.

In 2018,  market concentration measured using Shannon Entropy, was 3.51. This means that most of the exports of Isocyanates are explained by 11 countries.

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TOP NET EXPORTER (2018): South Korea, $1.17B

TOP NET IMPORTER (2018): Italy, $412M

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

In 2018, the countries that had a largest trade value in exports than in imports of Isocyanates were South Korea ($1.17B), Hungary ($896M), Germany ($869M), Japan ($501M), and Saudi Arabia ($463M).

In 2018, the countries that had a largest trade value in imports than in exports of Isocyanates were Italy ($412M), Brazil ($345M), Turkey ($279M), Poland ($225M), and Vietnam ($215M).

Trade Forecasts

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This section shows forecasts for total trade for Isocyanates. 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 Isocyanates was 3.89%.  The countries with the highest tariffs for importing Isocyanates were Bahamas (40.2%), Bermuda (25%), Romania (17.2%), 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.