Overview: This page contains the latest trade data of Chemical Products. In 2019, Chemical Products were the world's 4th most traded product, with a total trade of $1.81T. Between 2018 and 2019 the exports of Chemical Products decreased by -1.15%, from $1.83T to $1.81T. Trade in Chemical Products represent 9.98% of total world trade.
Imports: In 2019 the top importers of Chemical Productswere United States ($240B), Germany ($142B), China ($133B), Belgium ($86.2B), and France ($70.5B).
Tariffs: In 2018 the average tariff for Chemical Products was 4.99%, making it the 20th lowest tariff using the Section product classification.
Top Origin Growth (2018 - 2019): Switzerland, $7.64B
Top Destination Growth (2018 - 2019): United States, $9.84B
Between 2018 and 2019, the exports of Chemical Products grew the fastest in Switzerland ($7.64B), Ireland ($4.73B), Italy ($4.12B), India ($3.73B), and Denmark ($3.08B).
Between 2018 and 2019, the fastest growing importers of Chemical Products were United States ($9.84B), Russia ($4.18B), Slovenia ($2.4B), Switzerland ($1.59B), and Brazil ($1.1B).
This chart shows the evolution of the market concentration of exports of Chemical Products.
In 2019, market concentration measured using Shannon Entropy, was 4.92. This means that most of the exports of Chemical Products are explained by 30 countries.
This map shows which countries export or import more of Chemical Products. Each country is colored based on the difference in exports and imports of Chemical Products during 2019.
In 2019, the countries that had a largest trade value in exports than in imports of Chemical Products were Ireland ($101B), Switzerland ($61.2B), Germany ($54.5B), France ($23.2B), and Singapore ($19.6B).
In 2019, the countries that had a largest trade value in imports than in exports of Chemical Products were United States ($54.8B), Brazil ($26.1B), Mexico ($18.1B), Turkey ($12.5B), and Vietnam ($11.9B).
In 2018, the average tariff for importing Chemical Products was 4.99%. The countries with the highest tariffs for importing Chemical Products were Bahamas (34.4%), Bermuda (22.2%), Iran (14.1%), Romania (13%), and Algeria (12.6%).
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.