HS Icon Styrene Polymers

3903 (Harmonized System 1992 for 4-digit)

World Trade (2018): $24.6B, Rnk 157 / 1225

Top Exporter (2018): $4.19B, South Korea

Top Importer (2018): $5.42B, China

Product Complexity (2018): 0.76, Rnk 264 / 1018

Export Growth (CAGR)(2017 - 2018): 8.43%, Rnk 846 / 1225

Mean Tariff (2018): 4.53%, Rnk 903 / 1259

Share of World Trade (2018): 0.13%, Rnk 157 / 1225

Overview: In 2018, Styrene Polymers were the world's 157th most traded product, with a total trade of $24.6B. Between 2017 and 2018 the exports of Styrene Polymers grew by 8.43%, from  $22.7B to $24.6B. Trade in Styrene Polymers represent 0.13% of total world trade.

Exports: In 2018 the top exporters of Styrene Polymers  were South Korea ($4.19B), Chinese Taipei ($3.76B), Belgium-Luxembourg ($1.99B), Germany ($1.56B), and United States ($1.42B).

Imports: In 2018 the top importers of Styrene Polymers were China ($5.42B), Germany ($1.61B), United States ($1.42B), Hong Kong ($1.31B), and Italy ($954M).

Tariffs: In 2018 the average tariff for Styrene Polymers was 4.53%, been the 903 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Styrene Polymers are Bahamas (41.4%), Bermuda (25%), Maldives (19.6%), Romania (15.2%), and Argentina (12.1%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Styrene Polymers ranks 264th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): South Korea, $4.19B

Top Destination (2018): China, $5.42B

Styrene Polymers are the world's 157th most traded product.

In 2018, the top exporters of Styrene Polymers were South Korea ($4.19B), Chinese Taipei ($3.76B), Belgium-Luxembourg ($1.99B), Germany ($1.56B), and United States ($1.42B).

In 2018, the top importers of Styrene Polymers were China ($5.42B), Germany ($1.61B), United States ($1.42B), Hong Kong ($1.31B), and Italy ($954M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Belgium-Luxembourg, $247M

Top Destination Growth (2017 - 2018): Vietnam, $367M

Between 2017 and 2018, the exports of Styrene Polymers grew the fastest in Belgium-Luxembourg ($247M), Thailand ($237M), Malaysia ($236M), South Korea ($166M), and France ($161M).

Between 2017 and 2018, the fastest growing importers of Styrene Polymers were Vietnam ($367M), Poland ($156M), Thailand ($137M), Germany ($109M), and United States ($103M).

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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 Styrene Polymers.

In 2018,  market concentration measured using Shannon Entropy, was 4.36. This means that most of the exports of Styrene Polymers are explained by 20 countries.

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TOP NET EXPORTER (2018): South Korea, $3.98B

TOP NET IMPORTER (2018): China, $4.69B

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

In 2018, the countries that had a largest trade value in exports than in imports of Styrene Polymers were South Korea ($3.98B), Chinese Taipei ($3.66B), Belgium-Luxembourg ($1.57B), Netherlands ($882M), and Singapore ($531M).

In 2018, the countries that had a largest trade value in imports than in exports of Styrene Polymers were China ($4.69B), Hong Kong ($804M), Poland ($693M), Vietnam ($623M), and Turkey ($604M).

Trade Forecasts

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This section shows forecasts for total trade for Styrene Polymers. 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 Styrene Polymers was 4.53%.  The countries with the highest tariffs for importing Styrene Polymers were Bahamas (41.4%), Bermuda (25%), Maldives (19.6%), Romania (15.2%), and Argentina (12.1%).

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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.