HS Icon Synthetic Coloring Matter

3204 (Harmonized System 1992 for 4-digit)

World Trade (2018): $14.1B, Rnk 256 / 1225

Top Exporter (2018): $3.12B, China

Top Importer (2018): $976M, United States

Product Complexity (2018): 1.17, Rnk 113 / 1018

Export Growth (CAGR)(2017 - 2018): 12.3%, Rnk 657 / 1225

Mean Tariff (2018): 3.52%, Rnk 1077 / 1259

Share of World Trade (2018): 0.077%, Rnk 256 / 1225

Overview: In 2018, Synthetic Coloring Matter were the world's 256th most traded product, with a total trade of $14.1B. Between 2017 and 2018 the exports of Synthetic Coloring Matter grew by 12.3%, from  $12.6B to $14.1B. Trade in Synthetic Coloring Matter represent 0.077% of total world trade.

Exports: In 2018 the top exporters of Synthetic Coloring Matter  were China ($3.12B), India ($2.63B), Germany ($1.48B), United States ($801M), and South Korea ($623M).

Imports: In 2018 the top importers of Synthetic Coloring Matter were United States ($976M), Germany ($935M), China ($799M), South Korea ($717M), and Italy ($561M).

Tariffs: In 2018 the average tariff for Synthetic Coloring Matter was 3.52%, been the 1077 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Synthetic Coloring Matter are Bahamas (40.2%), Bermuda (25%), Azerbaijan (14.4%), Pakistan (14.3%), and Aruba (12%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Synthetic Coloring Matter ranks 113th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $3.12B

Top Destination (2018): United States, $976M

Synthetic Coloring Matter are the world's 256th most traded product.

In 2018, the top exporters of Synthetic Coloring Matter were China ($3.12B), India ($2.63B), Germany ($1.48B), United States ($801M), and South Korea ($623M).

In 2018, the top importers of Synthetic Coloring Matter were United States ($976M), Germany ($935M), China ($799M), South Korea ($717M), and Italy ($561M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): India, $395M

Top Destination Growth (2017 - 2018): United States, $249M

Between 2017 and 2018, the exports of Synthetic Coloring Matter grew the fastest in India ($395M), China ($240M), South Korea ($177M), Chinese Taipei ($166M), and Belgium-Luxembourg ($89.6M).

Between 2017 and 2018, the fastest growing importers of Synthetic Coloring Matter were United States ($249M), China ($195M), Vietnam ($142M), Netherlands ($137M), and Bangladesh ($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 Synthetic Coloring Matter.

In 2018,  market concentration measured using Shannon Entropy, was 4.02. This means that most of the exports of Synthetic Coloring Matter are explained by 16 countries.

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TOP NET EXPORTER (2018): China, $2.32B

TOP NET IMPORTER (2018): Bangladesh, $461M

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

In 2018, the countries that had a largest trade value in exports than in imports of Synthetic Coloring Matter were China ($2.32B), India ($2.32B), Germany ($540M), Switzerland ($235M), and Japan ($73.5M).

In 2018, the countries that had a largest trade value in imports than in exports of Synthetic Coloring Matter were Bangladesh ($461M), Turkey ($446M), Vietnam ($385M), Pakistan ($287M), and Italy ($280M).

Trade Forecasts

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This section shows forecasts for total trade for Synthetic Coloring Matter. 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 Synthetic Coloring Matter was 3.52%.  The countries with the highest tariffs for importing Synthetic Coloring Matter were Bahamas (40.2%), Bermuda (25%), Azerbaijan (14.4%), Pakistan (14.3%), and Aruba (12%).

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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.