HS Icon Foodstuffs

IV (Harmonized System 1992 for Section)

World Trade (2019): $619B, Rnk 10 / 21

Top Exporter (2019): $46B, United States

Top Importer (2019): $71.7B, United States

Product Complexity (2019): -0.53, Rnk 16 / 21

Export Growth (CAGR)(2018 - 2019): -1.18%, Rnk 9 / 21

Mean Tariff (2018): 23.6%, Rnk 2 / 21

Share of World Trade (2019): 3.42%, Rnk 10 / 21

Overview:  This page contains the latest trade data of Foodstuffs. In 2019, Foodstuffs were the world's 10th most traded product, with a total trade of $619B. Between 2018 and 2019 the exports of Foodstuffs decreased by -1.18%, from  $627B to $619B. Trade in Foodstuffs represent 3.42% of total world trade.

Exports: In 2019 the top exporters of Foodstuffs  were United States ($46B), Germany ($44B), France ($38.4B), Netherlands ($37.6B), and Italy ($30.8B).

Imports: In 2019 the top importers of Foodstuffs were United States ($71.7B), Germany ($39B), United Kingdom ($33.2B), France ($27.6B), and Netherlands ($27.2B).

Tariffs: In 2018 the average tariff for Foodstuffs was 23.6%, making it the 2nd lowest tariff using the Section product classification.

The countries with the highest import tariffs for Foodstuffs are Egypt (148%), United States (114%), Austria (91.9%), Cyprus (74%), and Turkey (52.1%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), Norway (0.36%), and Australia (1.42%).

Ranking: Foodstuffs ranks 16th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2019): United States, $46B

Top Destination (2019): United States, $71.7B

Foodstuffs are the world's 10th most traded product.

In 2019, the top exporters of Foodstuffs were United States ($46B), Germany ($44B), France ($38.4B), Netherlands ($37.6B), and Italy ($30.8B).

In 2019, the top importers of Foodstuffs were United States ($71.7B), Germany ($39B), United Kingdom ($33.2B), France ($27.6B), and Netherlands ($27.2B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Mexico, $1.33B

Top Destination Growth (2018 - 2019): United States, $2.35B

Between 2018 and 2019, the exports of Foodstuffs grew the fastest in Mexico ($1.33B), Singapore ($1.06B), Italy ($859M), Thailand ($751M), and Russia ($743M).

Between 2018 and 2019, the fastest growing importers of Foodstuffs were United States ($2.35B), Japan ($1.07B), China ($577M), Saudi Arabia ($383M), and Cambodia ($335M).

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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 Foodstuffs.

In 2019,  market concentration measured using Shannon Entropy, was 5.52. This means that most of the exports of Foodstuffs are explained by 45 countries.

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TOP NET EXPORTER (2019): Brazil, $17.3B

TOP NET IMPORTER (2019): United States, $25.6B

This map shows which countries export or import more of Foodstuffs. Each country is colored based on the difference in exports and imports of Foodstuffs during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Foodstuffs were Brazil ($17.3B), Thailand ($15.6B), Italy ($15.1B), Argentina ($12.1B), and France ($10.8B).

In 2019, the countries that had a largest trade value in imports than in exports of Foodstuffs were United States ($25.6B), Japan ($19.9B), United Kingdom ($12.8B), Hong Kong ($8.89B), and Saudi Arabia ($4.98B).

Disaggregation

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Value
Disaggregation

In 2019, the world most traded Foodstuffs, disaggragated by their HS6 level were Food preparations nes ($44.7B), Soya-bean oil-cake and other solid residues ($24.7B), Grape wines nes, fortified wine or... ($24.7B), Cigarettes containing tobacco ($23.8B), and Communion wafers, rice paper, bakers wares... ($23B)

Import Tariffs

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In 2018, the average tariff for importing Foodstuffs was 23.6%.  The countries with the highest tariffs for importing Foodstuffs were Egypt (148%), United States (114%), Austria (91.9%), Cyprus (74%), and Turkey (52.1%).

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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.