HS Icon Lubricating oil additives, no petroleum, bitumen oils

381129 (Harmonized System 1992 for 6-digit)

World Trade (2018): $912M, Rnk 2152 / 4726

Top Exporter (2018): $246M, United States

Top Importer (2018): $143M, China

Product Complexity (2018): 0.84, Rnk 1053 / 4873

Export Growth (CAGR)(2017 - 2018): 11.3%, Rnk 2475 / 4726

Mean Tariff (2018): 3.94%, Rnk 5037 / 6538

Share of World Trade (2018): 0.005%, Rnk 2152 / 4726

Overview: In 2018, Lubricating oil additives, no petroleum, bitumen oils were the world's 2152nd most traded product, with a total trade of $912M. Between 2017 and 2018 the exports of Lubricating oil additives, no petroleum, bitumen oils grew by 11.3%, from  $820M to $912M. Trade in Lubricating oil additives, no petroleum, bitumen oils represent 0.005% of total world trade.

Exports: In 2018 the top exporters of Lubricating oil additives, no petroleum, bitumen oils  were United States ($246M), Germany ($75.6M), Saudi Arabia ($69.4M), France ($67.3M), and South Korea ($61.4M).

Imports: In 2018 the top importers of Lubricating oil additives, no petroleum, bitumen oils were China ($143M), France ($113M), United States ($90.9M), Belgium-Luxembourg ($63.9M), and Singapore ($56.9M).

Tariffs: In 2018 the average tariff for Lubricating oil additives, no petroleum, bitumen oils was 3.94%, been the 5037 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Lubricating oil additives, no petroleum, bitumen oils are Bahamas (40.2%), Bermuda (25%), Nepal (14.8%), Venezuela (13.4%), and Brazil (13.4%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), South Africa (0%), Zambia (0%), and Hong Kong (0%).

Ranking: Lubricating oil additives, no petroleum, bitumen oils ranks 1053rd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $246M

Top Destination (2018): China, $143M

Lubricating oil additives, no petroleum, bitumen oils are the world's 2152nd most traded product.

In 2018, the top exporters of Lubricating oil additives, no petroleum, bitumen oils were United States ($246M), Germany ($75.6M), Saudi Arabia ($69.4M), France ($67.3M), and South Korea ($61.4M).

In 2018, the top importers of Lubricating oil additives, no petroleum, bitumen oils were China ($143M), France ($113M), United States ($90.9M), Belgium-Luxembourg ($63.9M), and Singapore ($56.9M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Saudi Arabia, $69.3M

Top Destination Growth (2017 - 2018): China, $73.6M

Between 2017 and 2018, the exports of Lubricating oil additives, no petroleum, bitumen oils grew the fastest in Saudi Arabia ($69.3M), South Korea ($46M), United States ($31M), Belgium-Luxembourg ($16.1M), and India ($7.37M).

Between 2017 and 2018, the fastest growing importers of Lubricating oil additives, no petroleum, bitumen oils were China ($73.6M), Italy ($22.2M), Chinese Taipei ($19.3M), Thailand ($15M), and India ($14.2M).

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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 oil additives, no petroleum, bitumen oils.

In 2018,  market concentration measured using Shannon Entropy, was 3.92. This means that most of the exports of Lubricating oil additives, no petroleum, bitumen oils are explained by 15 countries.

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TOP NET EXPORTER (2018): United States, $155M

TOP NET IMPORTER (2018): China, $112M

This map shows which countries export or import more of Lubricating oil additives, no petroleum, bitumen oils. Each country is colored based on the difference in exports and imports of Lubricating oil additives, no petroleum, bitumen oils during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Lubricating oil additives, no petroleum, bitumen oils were United States ($155M), Saudi Arabia ($67.3M), South Korea ($45.2M), Mexico ($39.1M), and Germany ($28.2M).

In 2018, the countries that had a largest trade value in imports than in exports of Lubricating oil additives, no petroleum, bitumen oils were China ($112M), France ($46M), Thailand ($20.4M), Chinese Taipei ($20.3M), and Belgium-Luxembourg ($19.9M).

Trade Forecasts

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This section shows forecasts for total trade for Lubricating oil additives, no petroleum, bitumen oils. 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 oil additives, no petroleum, bitumen oils was 3.94%.  The countries with the highest tariffs for importing Lubricating oil additives, no petroleum, bitumen oils were Bahamas (40.2%), Bermuda (25%), Nepal (14.8%), Venezuela (13.4%), and Brazil (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.