HS Icon Petroleum Resins

3911 (Harmonized System 1992 for 4-digit)

World Trade (2018): $7.19B, Rnk 416 / 1225

Top Exporter (2018): $1.36B, United States

Top Importer (2018): $873M, China

Product Complexity (2018): 1.16, Rnk 119 / 1018

Export Growth (CAGR)(2017 - 2018): 10%, Rnk 771 / 1225

Mean Tariff (2018): 4.73%, Rnk 872 / 1259

Share of World Trade (2018): 0.039%, Rnk 416 / 1225

Overview:  This page contains the latest trade data of Petroleum Resins. In 2018, Petroleum Resins were the world's 416th most traded product, with a total trade of $7.19B. Between 2017 and 2018 the exports of Petroleum Resins grew by 10%, from  $6.53B to $7.19B. Trade in Petroleum Resins represent 0.039% of total world trade.

Exports: In 2018 the top exporters of Petroleum Resins  were United States ($1.36B), Germany ($1.18B), Japan ($782M), China ($755M), and France ($530M).

Imports: In 2018 the top importers of Petroleum Resins were China ($873M), Germany ($666M), United States ($541M), Belgium-Luxembourg ($396M), and Italy ($377M).

Tariffs: In 2018 the average tariff for Petroleum Resins was 4.73%, been the 872 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Petroleum Resins are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Pakistan (19.6%), and Romania (15.9%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritania (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Petroleum Resins ranks 119th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $1.36B

Top Destination (2018): China, $873M

Petroleum Resins are the world's 416th most traded product.

In 2018, the top exporters of Petroleum Resins were United States ($1.36B), Germany ($1.18B), Japan ($782M), China ($755M), and France ($530M).

In 2018, the top importers of Petroleum Resins were China ($873M), Germany ($666M), United States ($541M), Belgium-Luxembourg ($396M), and Italy ($377M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $134M

Top Destination Growth (2017 - 2018): China, $186M

Between 2017 and 2018, the exports of Petroleum Resins grew the fastest in Germany ($134M), Belgium-Luxembourg ($126M), Singapore ($87M), China ($83.8M), and Japan ($69.1M).

Between 2017 and 2018, the fastest growing importers of Petroleum Resins were China ($186M), Canada ($97.7M), France ($69.1M), Germany ($62.5M), and Netherlands ($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 Petroleum Resins.

In 2018,  market concentration measured using Shannon Entropy, was 3.8. This means that most of the exports of Petroleum Resins are explained by 13 countries.

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TOP NET EXPORTER (2018): United States, $818M

TOP NET IMPORTER (2018): Italy, $287M

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

In 2018, the countries that had a largest trade value in exports than in imports of Petroleum Resins were United States ($818M), Germany ($511M), Japan ($497M), South Korea ($292M), and France ($226M).

In 2018, the countries that had a largest trade value in imports than in exports of Petroleum Resins were Italy ($287M), Mexico ($181M), China ($118M), Hong Kong ($115M), and Indonesia ($111M).

Trade Forecasts

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This section shows forecasts for total trade for Petroleum Resins. 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 Petroleum Resins was 4.73%.  The countries with the highest tariffs for importing Petroleum Resins were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Pakistan (19.6%), and Romania (15.9%).

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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.