HS Icon Essential oils, nes

330129 (Harmonized System 1992 for 6-digit)

World Trade (2018): $2.73B, Rnk 1081 / 4726

Top Exporter (2018): $460M, China

Top Importer (2018): $629M, United States

Product Complexity (2018): -1.3, Rnk 4295 / 4873

Export Growth (CAGR)(2017 - 2018): 16.7%, Rnk 1697 / 4726

Mean Tariff (2018): 7.79%, Rnk 2923 / 6538

Share of World Trade (2018): 0.015%, Rnk 1081 / 4726

Overview:  This page contains the latest trade data of Essential oils, nes. In 2018, Essential oils, nes were the world's 1081st most traded product, with a total trade of $2.73B. Between 2017 and 2018 the exports of Essential oils, nes grew by 16.7%, from  $2.34B to $2.73B. Trade in Essential oils, nes represent 0.015% of total world trade.

Exports: In 2018 the top exporters of Essential oils, nes  were China ($460M), France ($421M), United States ($292M), Indonesia ($175M), and India ($117M).

Imports: In 2018 the top importers of Essential oils, nes were United States ($629M), France ($336M), Germany ($171M), United Kingdom ($143M), and Indonesia ($140M).

Tariffs: In 2018 the average tariff for Essential oils, nes was 7.79%, been the 2923 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Essential oils, nes are Romania (52.2%), Bahamas (40.2%), Cambodia (35%), Sudan (35%), and Ethiopia (29.7%). The countries with the lowest tariffs are Kenya (0%), Mauritius (0%), Rwanda (0%), Tanzania (0%), and Uganda (0%).

Ranking: Essential oils, nes ranks 4295th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $460M

Top Destination (2018): United States, $629M

Essential oils, nes are the world's 1081st most traded product.

In 2018, the top exporters of Essential oils, nes were China ($460M), France ($421M), United States ($292M), Indonesia ($175M), and India ($117M).

In 2018, the top importers of Essential oils, nes were United States ($629M), France ($336M), Germany ($171M), United Kingdom ($143M), and Indonesia ($140M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $123M

Top Destination Growth (2017 - 2018): United States, $77.8M

Between 2017 and 2018, the exports of Essential oils, nes grew the fastest in China ($123M), United States ($51.8M), France ($45.9M), Madagascar ($24M), and Spain ($21.2M).

Between 2017 and 2018, the fastest growing importers of Essential oils, nes were United States ($77.8M), Indonesia ($61.3M), Netherlands ($31.4M), Germany ($22.5M), and China ($21.3M).

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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 Essential oils, nes.

In 2018,  market concentration measured using Shannon Entropy, was 4.56. This means that most of the exports of Essential oils, nes are explained by 23 countries.

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TOP NET EXPORTER (2018): China, $380M

TOP NET IMPORTER (2018): United States, $337M

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

In 2018, the countries that had a largest trade value in exports than in imports of Essential oils, nes were China ($380M), Bulgaria ($103M), France ($84.6M), Madagascar ($70.1M), and Haiti ($65.8M).

In 2018, the countries that had a largest trade value in imports than in exports of Essential oils, nes were United States ($337M), Germany ($102M), Switzerland ($72.1M), Netherlands ($67M), and Canada ($61.5M).

Trade Forecasts

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This section shows forecasts for total trade for Essential oils, nes. 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 Essential oils, nes was 7.79%.  The countries with the highest tariffs for importing Essential oils, nes were Romania (52.2%), Bahamas (40.2%), Cambodia (35%), Sudan (35%), and Ethiopia (29.7%).

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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.