HS Icon Natural Cork Articles

4503 (Harmonized System 1992 for 4-digit)

World Trade (2018): $835M, Rnk 948 / 1225

Top Exporter (2018): $583M, Portugal

Top Importer (2018): $205M, France

Product Complexity (2018): -1.05, Rnk 834 / 1018

Export Growth (CAGR)(2017 - 2018): 17.9%, Rnk 396 / 1225

Mean Tariff (2018): 5.24%, Rnk 785 / 1259

Share of World Trade (2018): 0.0045%, Rnk 948 / 1225

Overview: In 2018, Natural Cork Articles were the world's 948th most traded product, with a total trade of $835M. Between 2017 and 2018 the exports of Natural Cork Articles grew by 17.9%, from  $708M to $835M. Trade in Natural Cork Articles represent 0.0045% of total world trade.

Exports: In 2018 the top exporters of Natural Cork Articles  were Portugal ($583M), Spain ($111M), France ($27.6M), Italy ($17.3M), and Morocco ($15.1M).

Imports: In 2018 the top importers of Natural Cork Articles were France ($205M), United States ($154M), Spain ($78.7M), Italy ($64.4M), and Portugal ($46M).

Tariffs: In 2018 the average tariff for Natural Cork Articles was 5.24%, been the 785 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Natural Cork Articles are Bahamas (41.4%), Zambia (36.3%), Algeria (26.6%), Bermuda (25%), and Tunisia (20%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), South Africa (0%), Hong Kong (0%), and Japan (0%).

Ranking: Natural Cork Articles ranks 834th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Portugal, $583M

Top Destination (2018): France, $205M

Natural Cork Articles are the world's 948th most traded product.

In 2018, the top exporters of Natural Cork Articles were Portugal ($583M), Spain ($111M), France ($27.6M), Italy ($17.3M), and Morocco ($15.1M).

In 2018, the top importers of Natural Cork Articles were France ($205M), United States ($154M), Spain ($78.7M), Italy ($64.4M), and Portugal ($46M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Spain, $61.1M

Top Destination Growth (2017 - 2018): France, $59.5M

Between 2017 and 2018, the exports of Natural Cork Articles grew the fastest in Spain ($61.1M), Portugal ($53.8M), United Arab Emirates ($6.44M), Japan ($5.21M), and Morocco ($2.91M).

Between 2017 and 2018, the fastest growing importers of Natural Cork Articles were France ($59.5M), Portugal ($19.3M), United Kingdom ($8.81M), Qatar ($7.24M), and United States ($5.42M).

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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 Natural Cork Articles.

In 2018,  market concentration measured using Shannon Entropy, was 1.88. This means that most of the exports of Natural Cork Articles are explained by 3 countries.

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TOP NET EXPORTER (2018): Portugal, $537M

TOP NET IMPORTER (2018): France, $177M

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

In 2018, the countries that had a largest trade value in exports than in imports of Natural Cork Articles were Portugal ($537M), Spain ($32.2M), Morocco ($14.9M), United Arab Emirates ($9.19M), and Tunisia ($4.42M).

In 2018, the countries that had a largest trade value in imports than in exports of Natural Cork Articles were France ($177M), United States ($143M), Italy ($47.2M), Chile ($32.8M), and United Kingdom ($30.6M).

Trade Forecasts

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This section shows forecasts for total trade for Natural Cork Articles. 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 Natural Cork Articles was 5.24%.  The countries with the highest tariffs for importing Natural Cork Articles were Bahamas (41.4%), Zambia (36.3%), Algeria (26.6%), Bermuda (25%), and Tunisia (20%).

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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.