HS Icon Wood Products

IX (Harmonized System 1992 for Section)

World Trade (2018): $150B, Rnk 17 / 21

Top Exporter (2018): $16.1B, China

Top Importer (2018): $21.4B, United States

Product Complexity (2018): -0.41, Rnk 14 / 21

Export Growth (CAGR)(2017 - 2018): 18.7%, Rnk 4 / 21

Mean Tariff (2018): 8.35%, Rnk 12 / 21

Share of World Trade (2018): 0.81%, Rnk 17 / 21

Overview:  This page contains the latest trade data of Wood Products. In 2018, Wood Products were the world's 17th most traded product, with a total trade of $150B. Between 2017 and 2018 the exports of Wood Products grew by 18.7%, from  $126B to $150B. Trade in Wood Products represent 0.81% of total world trade.

Exports: In 2018 the top exporters of Wood Products  were China ($16.1B), Canada ($13.8B), Germany ($9.69B), Russia ($9.33B), and United States ($6.91B).

Imports: In 2018 the top importers of Wood Products were United States ($21.4B), China ($20.7B), Japan ($9.92B), Germany ($9.61B), and United Kingdom ($7.51B).

Tariffs: In 2018 the average tariff for Wood Products was 8.35%, been the 12 lowest tariff using the Section product classification.

The countries with the highest import tariffs for Wood Products are Zambia (35.1%), Sudan (30.4%), Cameroon (29.1%), Gabon (28.7%), and Chad (28.5%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), Norway (0%), and Canada (0.61%).

Ranking: Wood Products ranks 14th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $16.1B

Top Destination (2018): United States, $21.4B

Wood Products are the world's 17th most traded product.

In 2018, the top exporters of Wood Products were China ($16.1B), Canada ($13.8B), Germany ($9.69B), Russia ($9.33B), and United States ($6.91B).

In 2018, the top importers of Wood Products were United States ($21.4B), China ($20.7B), Japan ($9.92B), Germany ($9.61B), and United Kingdom ($7.51B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Canada, $6.34B

Top Destination Growth (2017 - 2018): United States, $7.37B

Between 2017 and 2018, the exports of Wood Products grew the fastest in Canada ($6.34B), China ($1.5B), Poland ($1.32B), Germany ($1.24B), and Russia ($1.1B).

Between 2017 and 2018, the fastest growing importers of Wood Products were United States ($7.37B), Germany ($1.56B), Italy ($870M), France ($811M), and Saudi Arabia ($730M).

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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 Wood Products.

In 2018,  market concentration measured using Shannon Entropy, was 5.28. This means that most of the exports of Wood Products are explained by 38 countries.

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TOP NET EXPORTER (2018): Canada, $12.3B

TOP NET IMPORTER (2018): United States, $14.5B

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

In 2018, the countries that had a largest trade value in exports than in imports of Wood Products were Canada ($12.3B), Russia ($8.49B), Indonesia ($4.31B), New Zealand ($3.35B), and Poland ($3.28B).

In 2018, the countries that had a largest trade value in imports than in exports of Wood Products were United States ($14.5B), Japan ($9.56B), United Kingdom ($6.84B), China ($4.53B), and South Korea ($3.43B).

Trade Forecasts

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This section shows forecasts for total trade for Wood Products. 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 Wood Products was 8.35%.  The countries with the highest tariffs for importing Wood Products were Zambia (35.1%), Sudan (30.4%), Cameroon (29.1%), Gabon (28.7%), and Chad (28.5%).

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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.