HS Icon Synthetic Rubber

4002 (Harmonized System 1992 for 4-digit)

World Trade (2018): $26.9B, Rnk 144 / 1225

Top Exporter (2018): $3.16B, South Korea

Top Importer (2018): $7.15B, China

Product Complexity (2018): 1.12, Rnk 135 / 1018

Export Growth (CAGR)(2017 - 2018): 0.25%, Rnk 1082 / 1225

Mean Tariff (2018): 2.68%, Rnk 1166 / 1259

Share of World Trade (2018): 0.15%, Rnk 144 / 1225

Overview:  This page contains the latest trade data of Synthetic Rubber. In 2018, Synthetic Rubber were the world's 144th most traded product, with a total trade of $26.9B. Between 2017 and 2018 the exports of Synthetic Rubber grew by 0.25%, from  $26.8B to $26.9B. Trade in Synthetic Rubber represent 0.15% of total world trade.

Exports: In 2018 the top exporters of Synthetic Rubber  were South Korea ($3.16B), United States ($2.84B), Japan ($2.51B), Thailand ($2.48B), and Germany ($1.85B).

Imports: In 2018 the top importers of Synthetic Rubber were China ($7.15B), United States ($1.57B), Germany ($1.37B), Belgium-Luxembourg ($1.23B), and Malaysia ($1.2B).

Tariffs: In 2018 the average tariff for Synthetic Rubber was 2.68%, been the 1166 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Synthetic Rubber are Bahamas (40.3%), Bermuda (25%), Maldives (19.6%), Liberia (18.9%), and Malaysia (12.1%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Synthetic Rubber ranks 135th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): South Korea, $3.16B

Top Destination (2018): China, $7.15B

Synthetic Rubber are the world's 144th most traded product.

In 2018, the top exporters of Synthetic Rubber were South Korea ($3.16B), United States ($2.84B), Japan ($2.51B), Thailand ($2.48B), and Germany ($1.85B).

In 2018, the top importers of Synthetic Rubber were China ($7.15B), United States ($1.57B), Germany ($1.37B), Belgium-Luxembourg ($1.23B), and Malaysia ($1.2B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Chinese Taipei, $473M

Top Destination Growth (2017 - 2018): Vietnam, $185M

Between 2017 and 2018, the exports of Synthetic Rubber grew the fastest in Chinese Taipei ($473M), Belgium-Luxembourg ($333M), Saudi Arabia ($149M), China ($125M), and South Korea ($107M).

Between 2017 and 2018, the fastest growing importers of Synthetic Rubber were Vietnam ($185M), Malaysia ($162M), Thailand ($150M), India ($125M), and Netherlands ($99.5M).

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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 Synthetic Rubber.

In 2018,  market concentration measured using Shannon Entropy, was 4.35. This means that most of the exports of Synthetic Rubber are explained by 20 countries.

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TOP NET EXPORTER (2018): South Korea, $2.7B

TOP NET IMPORTER (2018): China, $6.41B

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

In 2018, the countries that had a largest trade value in exports than in imports of Synthetic Rubber were South Korea ($2.7B), Japan ($2.08B), Russia ($1.62B), Thailand ($1.34B), and United States ($1.27B).

In 2018, the countries that had a largest trade value in imports than in exports of Synthetic Rubber were China ($6.41B), India ($979M), Turkey ($588M), Indonesia ($455M), and Brazil ($400M).

Trade Forecasts

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This section shows forecasts for total trade for Synthetic Rubber. 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 Synthetic Rubber was 2.68%.  The countries with the highest tariffs for importing Synthetic Rubber were Bahamas (40.3%), Bermuda (25%), Maldives (19.6%), Liberia (18.9%), and Malaysia (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.