HS Icon Plastic Lids

3923 (Harmonized System 1992 for 4-digit)

World Trade (2018): $55B, Rnk 61 / 1225

Top Exporter (2018): $9.6B, China

Top Importer (2018): $8.62B, United States

Product Complexity (2018): -0.18, Rnk 605 / 1018

Export Growth (CAGR)(2017 - 2018): 13.5%, Rnk 595 / 1225

Mean Tariff (2018): 11.5%, Rnk 345 / 1259

Share of World Trade (2018): 0.3%, Rnk 61 / 1225

Overview: In 2018, Plastic Lids were the world's 61st most traded product, with a total trade of $55B. Between 2017 and 2018 the exports of Plastic Lids grew by 13.5%, from  $48.4B to $55B. Trade in Plastic Lids represent 0.3% of total world trade.

Exports: In 2018 the top exporters of Plastic Lids  were China ($9.6B), Germany ($5.33B), United States ($3.97B), France ($2.49B), and Italy ($2.03B).

Imports: In 2018 the top importers of Plastic Lids were United States ($8.62B), Germany ($4.38B), France ($3.12B), Japan ($2.56B), and United Kingdom ($2.54B).

Tariffs: In 2018 the average tariff for Plastic Lids was 11.5%, been the 345 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Plastic Lids are Maldives (135%), Bahamas (36.4%), Ethiopia (30.7%), Uzbekistan (28.6%), and Algeria (27.9%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), Norway (0%), and Canada (1.24%).

Ranking: Plastic Lids ranks 605th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $9.6B

Top Destination (2018): United States, $8.62B

Plastic Lids are the world's 61st most traded product.

In 2018, the top exporters of Plastic Lids were China ($9.6B), Germany ($5.33B), United States ($3.97B), France ($2.49B), and Italy ($2.03B).

In 2018, the top importers of Plastic Lids were United States ($8.62B), Germany ($4.38B), France ($3.12B), Japan ($2.56B), and United Kingdom ($2.54B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $653M

Top Destination Growth (2017 - 2018): United States, $1.16B

Between 2017 and 2018, the exports of Plastic Lids grew the fastest in Germany ($653M), Mexico ($636M), China ($527M), Poland ($462M), and Netherlands ($386M).

Between 2017 and 2018, the fastest growing importers of Plastic Lids were United States ($1.16B), Germany ($810M), France ($485M), Japan ($369M), and Netherlands ($231M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Plastic Lids.

In 2018,  market concentration measured using Shannon Entropy, was 4.99. This means that most of the exports of Plastic Lids are explained by 31 countries.

TOP NET EXPORTER (2018): China, $8.57B

TOP NET IMPORTER (2018): United States, $4.64B

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

In 2018, the countries that had a largest trade value in exports than imports of Plastic Lids were China ($8.57B), Germany ($957M), Canada ($916M), South Korea ($707M), and Malaysia ($701M).

In 2018, the countries that had a largest trade value in imports than exports of Plastic Lids were United States ($4.64B), Japan ($1.85B), United Kingdom ($1.16B), Australia ($889M), and Mexico ($754M).

Trade Forecasts

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This section shows forecasts for total trade for Plastic Lids. 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 Plastic Lids was 11.5%.  The countries with the highest tariffs for importing Plastic Lids were Maldives (135%), Bahamas (36.4%), Ethiopia (30.7%), Uzbekistan (28.6%), and Algeria (27.9%).

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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.