HS Icon Floating, submersible drilling or production platform

890520 (Harmonized System 1992 for 6-digit)

Overview This page contains the latest trade data of Floating, submersible drilling or production platform. In 2019, Floating, submersible drilling or production platform were the world's 165th most traded product, with a total trade of $16.9B. Between 2018 and 2019 the exports of Floating, submersible drilling or production platform decreased by -25.4%, from $22.7B to $16.9B. Trade in Floating, submersible drilling or production platform represent 0.093% of total world trade.

Exports In 2019 the top exporters of Floating, submersible drilling or production platform  were China ($5.35B), Brazil ($2.79B), Singapore ($1.87B), United States ($1.67B), and Guyana ($731M).

Imports In 2019 the top importers of Floating, submersible drilling or production platform were Brazil ($2.49B), Netherlands ($1.55B), Panama ($1.47B), Guyana ($1.34B), and Saudi Arabia ($1.31B).

Tariffs In 2018 the average tariff for Floating, submersible drilling or production platform was 4.26%, making it the 4751st lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Floating, submersible drilling or production platform are Bahamas (40.2%), Bermuda (35%), Maldives (24.5%), Romania (17.2%), and Panama (15%). The countries with the lowest tariffs are Angola (0%), Algeria (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking Floating, submersible drilling or production platform ranks 4494th in the Product Complexity Index (PCI).

Description A floating, submersible drilling or production platform is a structure that is anchored to the floor of the sea. This is done to avoid collisions with the ocean floor or aquatic life. The platform will have multiple legs that are submerged below the water. This is to make sure the platform is stable and so it does not move. The platform will also have supports on the outer rim of the structure that are used to hold the frames on the surface of the water. These frames are what the drilling or production operations take place on.

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): China, $5.35B

Top Destination (2019): Brazil, $2.49B

Floating, submersible drilling or production platform are the world's 165th most traded product.

In 2019, the top exporters of Floating, submersible drilling or production platform were China ($5.35B), Brazil ($2.79B), Singapore ($1.87B), United States ($1.67B), and Guyana ($731M).

In 2019, the top importers of Floating, submersible drilling or production platform were Brazil ($2.49B), Netherlands ($1.55B), Panama ($1.47B), Guyana ($1.34B), and Saudi Arabia ($1.31B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): China, $1.65B

Top Destination Growth (2018 - 2019): Guyana, $1.34B

Between 2018 and 2019, the exports of Floating, submersible drilling or production platform grew the fastest in China ($1.65B), United States ($1.55B), Guyana ($731M), Nigeria ($550M), and Italy ($403M).

Between 2018 and 2019, the fastest growing importers of Floating, submersible drilling or production platform were Guyana ($1.34B), Israel ($1.01B), Brazil ($1.01B), Ghana ($653M), and Portugal ($402M).

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Market Concentration

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Cumulative market share

Value

This chart shows the evolution of the market concentration of exports of Floating, submersible drilling or production platform.

In 2019,  market concentration measured using Shannon Entropy, was 3.4. This means that most of the exports of Floating, submersible drilling or production platform are explained by 10 countries.

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TOP NET EXPORTER (2019): China, $5.03B

TOP NET IMPORTER (2019): Netherlands, $1.38B

This map shows which countries export or import more of Floating, submersible drilling or production platform. Each country is colored based on the difference in exports and imports of Floating, submersible drilling or production platform during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Floating, submersible drilling or production platform were China ($5.03B), United States ($1.65B), Singapore ($967M), Nigeria ($532M), and Oman ($523M).

In 2019, the countries that had a largest trade value in imports than in exports of Floating, submersible drilling or production platform were Netherlands ($1.38B), Israel ($1.01B), United Arab Emirates ($994M), Guyana ($614M), and Norway ($480M).

Import Tariffs

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In 2018, the average tariff for importing Floating, submersible drilling or production platform was 4.26%. The countries with the highest tariffs for importing Floating, submersible drilling or production platform were Bahamas (40.2%), Bermuda (35%), Maldives (24.5%), Romania (17.2%), and Panama (15%).

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.