HS Icon Packaged Medicaments

3004 (Harmonized System 1992 for 4-digit)

World Trade (2018): $367B, Rnk 7 / 1225

Top Exporter (2018): $55.9B, Germany

Top Importer (2018): $71.3B, United States

Product Complexity (2018): 0.74, Rnk 270 / 1018

Export Growth (CAGR)(2017 - 2018): 10.5%, Rnk 752 / 1225

Mean Tariff (2018): 4.01%, Rnk 989 / 1259

Share of World Trade (2018): 2%, Rnk 7 / 1225

Overview: In 2018, Packaged Medicaments were the world's 7th most traded product, with a total trade of $367B. Between 2017 and 2018 the exports of Packaged Medicaments grew by 10.5%, from  $333B to $367B. Trade in Packaged Medicaments represent 2% of total world trade.

Exports: In 2018 the top exporters of Packaged Medicaments  were Germany ($55.9B), Switzerland ($44.1B), Ireland ($28.1B), France ($25.7B), and United States ($25.4B).

Imports: In 2018 the top importers of Packaged Medicaments were United States ($71.3B), Germany ($27.6B), Switzerland ($19B), United Kingdom ($17B), and Italy ($16.9B).

Tariffs: In 2018 the average tariff for Packaged Medicaments was 4.01%, been the 989 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Packaged Medicaments are Iran (31%), Nepal (14%), Pakistan (12.4%), Tunisia (10%), and Jamaica (9.58%). The countries with the lowest tariffs are Angola (0%), Cote d'Ivoire (0%), Ghana (0%), Guinea (0%), and Kenya (0%).

Ranking: Packaged Medicaments ranks 270th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $55.9B

Top Destination (2018): United States, $71.3B

Packaged Medicaments are the world's 7th most traded product.

In 2018, the top exporters of Packaged Medicaments were Germany ($55.9B), Switzerland ($44.1B), Ireland ($28.1B), France ($25.7B), and United States ($25.4B).

In 2018, the top importers of Packaged Medicaments were United States ($71.3B), Germany ($27.6B), Switzerland ($19B), United Kingdom ($17B), and Italy ($16.9B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Switzerland, $8.46B

Top Destination Growth (2017 - 2018): Netherlands, $6.75B

Between 2017 and 2018, the exports of Packaged Medicaments grew the fastest in Switzerland ($8.46B), Belgium-Luxembourg ($7.66B), Germany ($5.29B), Netherlands ($3.37B), and Singapore ($2.24B).

Between 2017 and 2018, the fastest growing importers of Packaged Medicaments were Netherlands ($6.75B), United States ($5.58B), Australia ($4.23B), Denmark ($2.29B), and Italy ($1.78B).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Packaged Medicaments.

In 2018,  market concentration measured using Shannon Entropy, was 4.44. This means that most of the exports of Packaged Medicaments are explained by 21 countries.

TOP NET EXPORTER (2018): Germany, $28.3B

TOP NET IMPORTER (2018): United States, $45.9B

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

In 2018, the countries that had a largest trade value in exports than imports of Packaged Medicaments were Germany ($28.3B), Switzerland ($25.1B), Ireland ($24.8B), India ($12.8B), and France ($10.6B).

In 2018, the countries that had a largest trade value in imports than exports of Packaged Medicaments were United States ($45.9B), China ($11.4B), Japan ($9.51B), Russia ($7.51B), and Australia ($3.02B).

Trade Forecasts

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This section shows forecasts for total trade for Packaged Medicaments. 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 Packaged Medicaments was 4.01%.  The countries with the highest tariffs for importing Packaged Medicaments were Iran (31%), Nepal (14%), Pakistan (12.4%), Tunisia (10%), and Jamaica (9.58%).

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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.