HS Icon Plastics and Rubbers

VII (Harmonized System 1992 for Section)

World Trade (2018): $845B, Rnk 6 / 21

Top Exporter (2018): $106B, China

Top Importer (2018): $89.9B, United States

Product Complexity (2018): 0.54, Rnk 8 / 21

Export Growth (CAGR)(2017 - 2018): 11.2%, Rnk 11 / 21

Mean Tariff (2018): 7.65%, Rnk 13 / 21

Share of World Trade (2018): 4.59%, Rnk 6 / 21

Overview:  This page contains the latest trade data of Plastics and Rubbers. In 2018, Plastics and Rubbers were the world's 6th most traded product, with a total trade of $845B. Between 2017 and 2018 the exports of Plastics and Rubbers grew by 11.2%, from  $760B to $845B. Trade in Plastics and Rubbers represent 4.59% of total world trade.

Exports: In 2018 the top exporters of Plastics and Rubbers  were China ($106B), Germany ($89B), United States ($76.5B), South Korea ($42.8B), and Japan ($38.1B).

Imports: In 2018 the top importers of Plastics and Rubbers were United States ($89.9B), China ($79.3B), Germany ($63.9B), France ($34.1B), and Mexico ($30.4B).

Tariffs: In 2018 the average tariff for Plastics and Rubbers was 7.65%, been the 13 lowest tariff using the Section product classification.

The countries with the highest import tariffs for Plastics and Rubbers are Bahamas (32.4%), Maldives (30.2%), Bermuda (25.1%), Iran (16.9%), and Pakistan (16.6%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), Norway (0%), and Canada (0.63%).

Ranking: Plastics and Rubbers ranks 8th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $106B

Top Destination (2018): United States, $89.9B

Plastics and Rubbers are the world's 6th most traded product.

In 2018, the top exporters of Plastics and Rubbers were China ($106B), Germany ($89B), United States ($76.5B), South Korea ($42.8B), and Japan ($38.1B).

In 2018, the top importers of Plastics and Rubbers were United States ($89.9B), China ($79.3B), Germany ($63.9B), France ($34.1B), and Mexico ($30.4B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $9.77B

Top Destination Growth (2017 - 2018): United States, $8.65B

Between 2017 and 2018, the exports of Plastics and Rubbers grew the fastest in China ($9.77B), Germany ($7.64B), United States ($6.98B), Belgium-Luxembourg ($6.31B), and Saudi Arabia ($5.58B).

Between 2017 and 2018, the fastest growing importers of Plastics and Rubbers were United States ($8.65B), Germany ($6.98B), Vietnam ($5.4B), Poland ($3.47B), and France ($3.38B).

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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 Plastics and Rubbers.

In 2018,  market concentration measured using Shannon Entropy, was 4.95. This means that most of the exports of Plastics and Rubbers are explained by 30 countries.

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TOP NET EXPORTER (2018): South Korea, $29B

TOP NET IMPORTER (2018): Mexico, $17.6B

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

In 2018, the countries that had a largest trade value in exports than in imports of Plastics and Rubbers were South Korea ($29B), China ($26.8B), Germany ($25B), Thailand ($20.1B), and Saudi Arabia ($18.7B).

In 2018, the countries that had a largest trade value in imports than in exports of Plastics and Rubbers were Mexico ($17.6B), United States ($13.4B), United Kingdom ($9.9B), Hong Kong ($8.44B), and Australia ($8.24B).

Trade Forecasts

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This section shows forecasts for total trade for Plastics and Rubbers. 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 Plastics and Rubbers was 7.65%.  The countries with the highest tariffs for importing Plastics and Rubbers were Bahamas (32.4%), Maldives (30.2%), Bermuda (25.1%), Iran (16.9%), and Pakistan (16.6%).

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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.