HS Icon Oil additives nes, oxidation, corrosion, gum inhibito

381190 (Harmonized System 1992 for 6-digit)

World Trade (2018): $2.38B, Rnk 1182 / 4726

Top Exporter (2018): $666M, United States

Top Importer (2018): $199M, Mexico

Product Complexity (2018): 0.17, Rnk 2304 / 4873

Export Growth (CAGR)(2017 - 2018): 11.8%, Rnk 2403 / 4726

Mean Tariff (2018): 4.08%, Rnk 4897 / 6538

Share of World Trade (2018): 0.013%, Rnk 1182 / 4726

Overview: In 2018, Oil additives nes, oxidation, corrosion, gum inhibito were the world's 1182nd most traded product, with a total trade of $2.38B. Between 2017 and 2018 the exports of Oil additives nes, oxidation, corrosion, gum inhibito grew by 11.8%, from  $2.13B to $2.38B. Trade in Oil additives nes, oxidation, corrosion, gum inhibito represent 0.013% of total world trade.

Exports: In 2018 the top exporters of Oil additives nes, oxidation, corrosion, gum inhibito  were United States ($666M), Germany ($574M), Belgium-Luxembourg ($179M), France ($116M), and United Kingdom ($111M).

Imports: In 2018 the top importers of Oil additives nes, oxidation, corrosion, gum inhibito were Mexico ($199M), Canada ($134M), Latvia ($98.9M), China ($95.3M), and Russia ($90M).

Tariffs: In 2018 the average tariff for Oil additives nes, oxidation, corrosion, gum inhibito was 4.08%, been the 4897 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Oil additives nes, oxidation, corrosion, gum inhibito are Bahamas (40.2%), Bermuda (25%), Nepal (14.8%), Zambia (13.6%), and Mauritania (13%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), South Africa (0%), Hong Kong (0%), and Japan (0%).

Ranking: Oil additives nes, oxidation, corrosion, gum inhibito ranks 2304th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $666M

Top Destination (2018): Mexico, $199M

Oil additives nes, oxidation, corrosion, gum inhibito are the world's 1182nd most traded product.

In 2018, the top exporters of Oil additives nes, oxidation, corrosion, gum inhibito were United States ($666M), Germany ($574M), Belgium-Luxembourg ($179M), France ($116M), and United Kingdom ($111M).

In 2018, the top importers of Oil additives nes, oxidation, corrosion, gum inhibito were Mexico ($199M), Canada ($134M), Latvia ($98.9M), China ($95.3M), and Russia ($90M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $72.9M

Top Destination Growth (2017 - 2018): Mexico, $56.9M

Between 2017 and 2018, the exports of Oil additives nes, oxidation, corrosion, gum inhibito grew the fastest in United States ($72.9M), Germany ($57.2M), Belarus ($50.2M), Netherlands ($21.9M), and Spain ($21.3M).

Between 2017 and 2018, the fastest growing importers of Oil additives nes, oxidation, corrosion, gum inhibito were Mexico ($56.9M), Latvia ($49.1M), Netherlands ($25.8M), Canada ($18.7M), and United Arab Emirates ($14.6M).

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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 Oil additives nes, oxidation, corrosion, gum inhibito.

In 2018,  market concentration measured using Shannon Entropy, was 3.65. This means that most of the exports of Oil additives nes, oxidation, corrosion, gum inhibito are explained by 12 countries.

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TOP NET EXPORTER (2018): United States, $620M

TOP NET IMPORTER (2018): Mexico, $194M

This map shows which countries export or import more of Oil additives nes, oxidation, corrosion, gum inhibito. Each country is colored based on the difference in exports and imports of Oil additives nes, oxidation, corrosion, gum inhibito during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Oil additives nes, oxidation, corrosion, gum inhibito were United States ($620M), Germany ($491M), Belarus ($93.2M), Belgium-Luxembourg ($90.9M), and United Kingdom ($60.9M).

In 2018, the countries that had a largest trade value in imports than in exports of Oil additives nes, oxidation, corrosion, gum inhibito were Mexico ($194M), Canada ($117M), Latvia ($93.6M), Russia ($73.8M), and China ($58.6M).

Trade Forecasts

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This section shows forecasts for total trade for Oil additives nes, oxidation, corrosion, gum inhibito. 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 Oil additives nes, oxidation, corrosion, gum inhibito was 4.08%.  The countries with the highest tariffs for importing Oil additives nes, oxidation, corrosion, gum inhibito were Bahamas (40.2%), Bermuda (25%), Nepal (14.8%), Zambia (13.6%), and Mauritania (13%).

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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.