HS Icon Rubber Belting

4010 (Harmonized System 1992 for 4-digit)

World Trade (2018): $6.23B, Rnk 448 / 1225

Top Exporter (2018): $1.02B, Germany

Top Importer (2018): $673M, United States

Product Complexity (2018): 0.87, Rnk 212 / 1018

Export Growth (CAGR)(2017 - 2018): 8.26%, Rnk 854 / 1225

Mean Tariff (2018): 10.8%, Rnk 379 / 1259

Share of World Trade (2018): 0.034%, Rnk 448 / 1225

Overview:  This page contains the latest trade data of Rubber Belting. In 2018, Rubber Belting were the world's 448th most traded product, with a total trade of $6.23B. Between 2017 and 2018 the exports of Rubber Belting grew by 8.26%, from  $5.76B to $6.23B. Trade in Rubber Belting represent 0.034% of total world trade.

Exports: In 2018 the top exporters of Rubber Belting  were Germany ($1.02B), China ($977M), United States ($494M), Japan ($391M), and Italy ($300M).

Imports: In 2018 the top importers of Rubber Belting were United States ($673M), Germany ($512M), France ($348M), Canada ($241M), and Belgium-Luxembourg ($205M).

Tariffs: In 2018 the average tariff for Rubber Belting was 10.8%, been the 379 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Rubber Belting are Bahamas (40.2%), Iran (37.3%), Malaysia (30%), Cameroon (29.4%), and Gabon (29.4%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Singapore (0%), and Switzerland (0%).

Ranking: Rubber Belting ranks 212th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $1.02B

Top Destination (2018): United States, $673M

Rubber Belting are the world's 448th most traded product.

In 2018, the top exporters of Rubber Belting were Germany ($1.02B), China ($977M), United States ($494M), Japan ($391M), and Italy ($300M).

In 2018, the top importers of Rubber Belting were United States ($673M), Germany ($512M), France ($348M), Canada ($241M), and Belgium-Luxembourg ($205M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $195M

Top Destination Growth (2017 - 2018): United States, $77.6M

Between 2017 and 2018, the exports of Rubber Belting grew the fastest in China ($195M), Germany ($95.6M), Belgium-Luxembourg ($55.2M), Netherlands ($54.2M), and Thailand ($32.6M).

Between 2017 and 2018, the fastest growing importers of Rubber Belting were United States ($77.6M), France ($52.2M), Germany ($49.3M), Canada ($48.7M), and Poland ($38.8M).

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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 Rubber Belting.

In 2018,  market concentration measured using Shannon Entropy, was 4.45. This means that most of the exports of Rubber Belting are explained by 21 countries.

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TOP NET EXPORTER (2018): China, $794M

TOP NET IMPORTER (2018): United States, $179M

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

In 2018, the countries that had a largest trade value in exports than in imports of Rubber Belting were China ($794M), Germany ($504M), Japan ($317M), Poland ($120M), and Italy ($118M).

In 2018, the countries that had a largest trade value in imports than in exports of Rubber Belting were United States ($179M), Canada ($166M), Russia ($155M), France ($132M), and Ukraine ($108M).

Trade Forecasts

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This section shows forecasts for total trade for Rubber Belting. 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 Rubber Belting was 10.8%.  The countries with the highest tariffs for importing Rubber Belting were Bahamas (40.2%), Iran (37.3%), Malaysia (30%), Cameroon (29.4%), and Gabon (29.4%).

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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.