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.

Exports: In 2019 the top exporters of Chemical Products  were Germany ($197B), United States ($185B), China ($135B), Ireland ($118B), and Switzerland ($111B).

Imports: In 2019 the top importers of Chemical Products were 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.

The countries with the highest import tariffs for Chemical Products are Bahamas (34.4%), Bermuda (22.2%), Iran (14.1%), Romania (13%), and Algeria (12.6%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), Mauritius (0.2%), and Canada (0.42%).

Ranking: Chemical Products ranks 10th in the Product Complexity Index (PCI).

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): Germany, $197B

Top Destination (2019): United States, $240B

Chemical Products are the world's 4th most traded product.

In 2019, the top exporters of Chemical Products were Germany ($197B), United States ($185B), China ($135B), Ireland ($118B), and Switzerland ($111B).

In 2019, the top importers of Chemical Products were United States ($240B), Germany ($142B), China ($133B), Belgium ($86.2B), and France ($70.5B).

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Market Dynamics

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Trade by country

Value

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).

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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 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.

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TOP NET EXPORTER (2019): Ireland, $101B

TOP NET IMPORTER (2019): United States, $54.8B

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).

Disaggregation

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Value
Disaggregation

In 2019, the world most traded Chemical Products, disaggragated by their HS6 level were Medicaments nes, in dosage ($306B), Blood, toxins, cultures, medical use, nes ($169B), Chemical industry products, preparations, mixtures ne ($53.4B), Beauty, makeup and suntan preparations nes ($43.7B), and Hormones nes, except contraceptives, in dosage ($33.4B)

Import Tariffs

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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%).

Product Complexity

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Diversification Frontier

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Specialization

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.