HS Icon Enzymes

3507 (Harmonized System 1992 for 4-digit)

World Trade (2018): $5.62B, Rnk 473 / 1225

Top Exporter (2018): $1.31B, Denmark

Top Importer (2018): $882M, United States

Product Complexity (2018): 1.11, Rnk 137 / 1018

Export Growth (CAGR)(2017 - 2018): 13.9%, Rnk 575 / 1225

Mean Tariff (2018): 4.41%, Rnk 926 / 1259

Share of World Trade (2018): 0.031%, Rnk 473 / 1225

Overview: In 2018, Enzymes were the world's 473rd most traded product, with a total trade of $5.62B. Between 2017 and 2018 the exports of Enzymes grew by 13.9%, from  $4.94B to $5.62B. Trade in Enzymes represent 0.031% of total world trade.

Exports: In 2018 the top exporters of Enzymes  were Denmark ($1.31B), United States ($656M), Germany ($510M), China ($424M), and Netherlands ($394M).

Imports: In 2018 the top importers of Enzymes were United States ($882M), Netherlands ($430M), Germany ($404M), China ($244M), and France ($240M).

Tariffs: In 2018 the average tariff for Enzymes was 4.41%, been the 926 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Enzymes are Bahamas (40.2%), Bermuda (25%), Ethiopia (19.8%), Austria (19.2%), and Maldives (18.3%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Enzymes ranks 137th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Denmark, $1.31B

Top Destination (2018): United States, $882M

Enzymes are the world's 473rd most traded product.

In 2018, the top exporters of Enzymes were Denmark ($1.31B), United States ($656M), Germany ($510M), China ($424M), and Netherlands ($394M).

In 2018, the top importers of Enzymes were United States ($882M), Netherlands ($430M), Germany ($404M), China ($244M), and France ($240M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Denmark, $163M

Top Destination Growth (2017 - 2018): Denmark, $197M

Between 2017 and 2018, the exports of Enzymes grew the fastest in Denmark ($163M), Germany ($130M), Netherlands ($95.6M), United States ($51.3M), and France ($48.1M).

Between 2017 and 2018, the fastest growing importers of Enzymes were Denmark ($197M), Netherlands ($103M), United States ($48.1M), Egypt ($42M), and Germany ($40.3M).

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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 Enzymes.

In 2018,  market concentration measured using Shannon Entropy, was 4. This means that most of the exports of Enzymes are explained by 15 countries.

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TOP NET EXPORTER (2018): Denmark, $1.1B

TOP NET IMPORTER (2018): United States, $226M

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

In 2018, the countries that had a largest trade value in exports than in imports of Enzymes were Denmark ($1.1B), Finland ($287M), Japan ($184M), China ($179M), and France ($126M).

In 2018, the countries that had a largest trade value in imports than in exports of Enzymes were United States ($226M), Spain ($118M), Brazil ($109M), Russia ($107M), and India ($90.4M).

Trade Forecasts

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This section shows forecasts for total trade for Enzymes. 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 Enzymes was 4.41%.  The countries with the highest tariffs for importing Enzymes were Bahamas (40.2%), Bermuda (25%), Ethiopia (19.8%), Austria (19.2%), and Maldives (18.3%).

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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.