HS Icon Turpentine

3805 (Harmonized System 1992 for 4-digit)

World Trade (2018): $415M, Rnk 1066 / 1225

Top Exporter (2018): $81.4M, Brazil

Top Importer (2018): $159M, India

Export Growth (CAGR)(2017 - 2018): 67.9%, Rnk 36 / 1225

Mean Tariff (2018): 4.22%, Rnk 951 / 1259

Share of World Trade (2018): 0.0023%, Rnk 1066 / 1225

Overview: In 2018, Turpentine were the world's 1066th most traded product, with a total trade of $415M. Between 2017 and 2018 the exports of Turpentine grew by 67.9%, from  $247M to $415M. Trade in Turpentine represent 0.0023% of total world trade.

Exports: In 2018 the top exporters of Turpentine  were Brazil ($81.4M), Indonesia ($73.1M), United States ($41.2M), China ($25.2M), and Vietnam ($25M).

Imports: In 2018 the top importers of Turpentine were India ($159M), France ($57.9M), Mexico ($26.7M), China ($24M), and United States ($16.6M).

Tariffs: In 2018 the average tariff for Turpentine was 4.22%, been the 951 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Turpentine are Bahamas (31.2%), Bermuda (25%), Azerbaijan (14.4%), Zambia (13.6%), and Paraguay (13.4%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Exporters and Importers

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Trade By Country

Top Origin (2018): Brazil, $81.4M

Top Destination (2018): India, $159M

Turpentine are the world's 1066th most traded product.

In 2018, the top exporters of Turpentine were Brazil ($81.4M), Indonesia ($73.1M), United States ($41.2M), China ($25.2M), and Vietnam ($25M).

In 2018, the top importers of Turpentine were India ($159M), France ($57.9M), Mexico ($26.7M), China ($24M), and United States ($16.6M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Brazil, $39.4M

Top Destination Growth (2017 - 2018): India, $71.1M

Between 2017 and 2018, the exports of Turpentine grew the fastest in Brazil ($39.4M), Indonesia ($33.3M), United States ($18.7M), Sweden ($11.5M), and Vietnam ($10.8M).

Between 2017 and 2018, the fastest growing importers of Turpentine were India ($71.1M), France ($29.7M), Mexico ($13.4M), China ($12M), and Spain ($7.42M).

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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 Turpentine.

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

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TOP NET EXPORTER (2018): Brazil, $80M

TOP NET IMPORTER (2018): India, $144M

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

In 2018, the countries that had a largest trade value in exports than in imports of Turpentine were Brazil ($80M), Indonesia ($66.2M), United States ($24.6M), Vietnam ($24.4M), and Sweden ($22.8M).

In 2018, the countries that had a largest trade value in imports than in exports of Turpentine were India ($144M), France ($45.8M), Mexico ($18.7M), Japan ($12.7M), and South Africa ($6.38M).

Trade Forecasts

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This section shows forecasts for total trade for Turpentine. 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 Turpentine was 4.22%.  The countries with the highest tariffs for importing Turpentine were Bahamas (31.2%), Bermuda (25%), Azerbaijan (14.4%), Zambia (13.6%), and Paraguay (13.4%).

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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.