HS Icon Lubricating Products

3403 (Harmonized System 1992 for 4-digit)

World Trade (2018): $10.4B, Rnk 320 / 1225

Top Exporter (2018): $2.27B, Germany

Top Importer (2018): $1.76B, China

Product Complexity (2018): 1.49, Rnk 49 / 1018

Export Growth (CAGR)(2017 - 2018): 12.3%, Rnk 652 / 1225

Mean Tariff (2018): 5.68%, Rnk 733 / 1259

Share of World Trade (2018): 0.057%, Rnk 320 / 1225

Overview:  This page contains the latest trade data of Lubricating Products. In 2018, Lubricating Products were the world's 320th most traded product, with a total trade of $10.4B. Between 2017 and 2018 the exports of Lubricating Products grew by 12.3%, from  $9.26B to $10.4B. Trade in Lubricating Products represent 0.057% of total world trade.

Exports: In 2018 the top exporters of Lubricating Products  were Germany ($2.27B), United States ($1.76B), Japan ($1.14B), France ($909M), and Belgium-Luxembourg ($791M).

Imports: In 2018 the top importers of Lubricating Products were China ($1.76B), Germany ($744M), Mexico ($372M), Russia ($345M), and France ($333M).

Tariffs: In 2018 the average tariff for Lubricating Products was 5.68%, been the 733 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Lubricating Products are Bahamas (40.2%), Bermuda (25%), Sudan (21.9%), Samoa (20%), and Mozambique (19%). The countries with the lowest tariffs are Kenya (0%), Mauritius (0%), Rwanda (0%), Tanzania (0%), and Uganda (0%).

Ranking: Lubricating Products ranks 49th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $2.27B

Top Destination (2018): China, $1.76B

Lubricating Products are the world's 320th most traded product.

In 2018, the top exporters of Lubricating Products were Germany ($2.27B), United States ($1.76B), Japan ($1.14B), France ($909M), and Belgium-Luxembourg ($791M).

In 2018, the top importers of Lubricating Products were China ($1.76B), Germany ($744M), Mexico ($372M), Russia ($345M), and France ($333M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Singapore, $222M

Top Destination Growth (2017 - 2018): Canada, $188M

Between 2017 and 2018, the exports of Lubricating Products grew the fastest in Singapore ($222M), Germany ($190M), United States ($185M), Belgium-Luxembourg ($154M), and Netherlands ($70.4M).

Between 2017 and 2018, the fastest growing importers of Lubricating Products were Canada ($188M), China ($72.1M), Netherlands ($63.6M), Germany ($63.1M), and United States ($59.6M).

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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 Lubricating Products.

In 2018,  market concentration measured using Shannon Entropy, was 3.92. This means that most of the exports of Lubricating Products are explained by 15 countries.

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TOP NET EXPORTER (2018): Germany, $1.53B

TOP NET IMPORTER (2018): China, $1.57B

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

In 2018, the countries that had a largest trade value in exports than in imports of Lubricating Products were Germany ($1.53B), United States ($1.45B), Japan ($1.03B), France ($576M), and Belgium-Luxembourg ($466M).

In 2018, the countries that had a largest trade value in imports than in exports of Lubricating Products were China ($1.57B), Mexico ($356M), Russia ($314M), India ($262M), and Canada ($240M).

Trade Forecasts

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This section shows forecasts for total trade for Lubricating Products. 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 Lubricating Products was 5.68%.  The countries with the highest tariffs for importing Lubricating Products were Bahamas (40.2%), Bermuda (25%), Sudan (21.9%), Samoa (20%), and Mozambique (19%).

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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.