HS Icon Soap

3401 (Harmonized System 1992 for 4-digit)

World Trade (2018): $7.05B, Rnk 424 / 1225

Top Exporter (2018): $661M, Germany

Top Importer (2018): $490M, United States

Product Complexity (2018): -1.01, Rnk 820 / 1018

Export Growth (CAGR)(2017 - 2018): 13.1%, Rnk 607 / 1225

Mean Tariff (2018): 14.5%, Rnk 219 / 1259

Share of World Trade (2018): 0.038%, Rnk 424 / 1225

Overview: In 2018, Soap were the world's 424th most traded product, with a total trade of $7.05B. Between 2017 and 2018 the exports of Soap grew by 13.1%, from  $6.23B to $7.05B. Trade in Soap represent 0.038% of total world trade.

Exports: In 2018 the top exporters of Soap  were Germany ($661M), Indonesia ($602M), Malaysia ($533M), China ($513M), and United States ($513M).

Imports: In 2018 the top importers of Soap were United States ($490M), Germany ($398M), Canada ($295M), France ($266M), and United Kingdom ($245M).

Tariffs: In 2018 the average tariff for Soap was 14.5%, been the 219 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Soap are Iran (48.8%), Cape Verde (43.6%), Syria (38.6%), Turkmenistan (37.5%), and Egypt (36.8%). The countries with the lowest tariffs are Hong Kong (0%), Japan (0%), Singapore (0%), Switzerland (0%), and Norway (0%).

Ranking: Soap ranks 820th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $661M

Top Destination (2018): United States, $490M

Soap are the world's 424th most traded product.

In 2018, the top exporters of Soap were Germany ($661M), Indonesia ($602M), Malaysia ($533M), China ($513M), and United States ($513M).

In 2018, the top importers of Soap were United States ($490M), Germany ($398M), Canada ($295M), France ($266M), and United Kingdom ($245M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United Arab Emirates, $170M

Top Destination Growth (2017 - 2018): Canada, $175M

Between 2017 and 2018, the exports of Soap grew the fastest in United Arab Emirates ($170M), United States ($167M), Thailand ($103M), Poland ($78.9M), and Cote d'Ivoire ($71.1M).

Between 2017 and 2018, the fastest growing importers of Soap were Canada ($175M), Germany ($90.6M), Saudi Arabia ($56.6M), Netherlands ($40.9M), and United Arab Emirates ($36.1M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Soap.

In 2018,  market concentration measured using Shannon Entropy, was 5.08. This means that most of the exports of Soap are explained by 33 countries.

TOP NET EXPORTER (2018): Indonesia, $575M

TOP NET IMPORTER (2018): Canada, $220M

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

In 2018, the countries that had a largest trade value in exports than imports of Soap were Indonesia ($575M), Malaysia ($470M), China ($336M), Germany ($262M), and Poland ($220M).

In 2018, the countries that had a largest trade value in imports than exports of Soap were Canada ($220M), Australia ($130M), Iraq ($107M), France ($106M), and Philippines ($97.9M).

Trade Forecasts

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This section shows forecasts for total trade for Soap. 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 Soap was 14.5%.  The countries with the highest tariffs for importing Soap were Iran (48.8%), Cape Verde (43.6%), Syria (38.6%), Turkmenistan (37.5%), and Egypt (36.8%).

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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.