HS Icon Gaskets, washers and other seals of vulcanised rubber

401693 (Harmonized System 1992 for 6-digit)

 2019
World Trade
: $11.8B, Rnk 246 / 4648

2019
Top Exporter | Top Importer
: $1.71B | $1.89B, United States | United States

2019
Product Complexity
: 0.61, Rnk 1468 / 4826

2018 - 2019
Export Growth (CAGR)
: -3.4%, Rnk 2288 / 4648

2018
Mean Tariff
: 9.72%, Rnk 2340 / 6538

 2019
Share of World Trade
: 0.065%, Rnk 246 / 4648

Overview:  This page contains the latest trade data of Gaskets, washers and other seals of vulcanised rubber. In 2019, Gaskets, washers and other seals of vulcanised rubber were the world's 246th most traded product, with a total trade of $11.8B. Between 2018 and 2019 the exports of Gaskets, washers and other seals of vulcanised rubber decreased by -3.4%, from  $12.2B to $11.8B. Trade in Gaskets, washers and other seals of vulcanised rubber represent 0.065% of total world trade.

Exports: In 2019 the top exporters of Gaskets, washers and other seals of vulcanised rubber  were United States ($1.71B), Germany ($1.56B), China ($1.06B), Japan ($814M), and France ($664M).

Imports: In 2019 the top importers of Gaskets, washers and other seals of vulcanised rubber were United States ($1.89B), Germany ($1.22B), China ($814M), Mexico ($673M), and Canada ($505M).

Tariffs: In 2018 the average tariff for Gaskets, washers and other seals of vulcanised rubber was 9.72%, making it the 2340th lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Gaskets, washers and other seals of vulcanised rubber are Bahamas (40.2%), Iran (40%), Ethiopia (29.7%), Cameroon (29.4%), and Gabon (29.4%). The countries with the lowest tariffs are Ghana (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Gaskets, washers and other seals of vulcanised rubber ranks 1468th in the Product Complexity Index (PCI).

Description: Gaskets, washers and other seals of vulcanized rubber are used in a variety of applications and industries. They are used in vehicles and in the construction industry to seal various surfaces from water and other substances. They are also used in plumbing, and in the food industry to provide an airtight seal for jars to prevent the contents from spoiling.

Exporters and Importers

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Trade By Country

Top Origin (2019): United States, $1.71B

Top Destination (2019): United States, $1.89B

Gaskets, washers and other seals of vulcanised rubber are the world's 246th most traded product.

In 2019, the top exporters of Gaskets, washers and other seals of vulcanised rubber were United States ($1.71B), Germany ($1.56B), China ($1.06B), Japan ($814M), and France ($664M).

In 2019, the top importers of Gaskets, washers and other seals of vulcanised rubber were United States ($1.89B), Germany ($1.22B), China ($814M), Mexico ($673M), and Canada ($505M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): United States, $24.7M

Top Destination Growth (2018 - 2019): United Arab Emirates, $16.7M

Between 2018 and 2019, the exports of Gaskets, washers and other seals of vulcanised rubber grew the fastest in United States ($24.7M), France ($17.6M), India ($8.2M), Russia ($7.99M), and Vietnam ($7.1M).

Between 2018 and 2019, the fastest growing importers of Gaskets, washers and other seals of vulcanised rubber were United Arab Emirates ($16.7M), Saudi Arabia ($14M), Ireland ($11.1M), Russia ($11M), and Israel ($7.21M).

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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 Gaskets, washers and other seals of vulcanised rubber.

In 2019,  market concentration measured using Shannon Entropy, was 4.62. This means that most of the exports of Gaskets, washers and other seals of vulcanised rubber are explained by 24 countries.

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TOP NET EXPORTER (2019): Japan, $465M

TOP NET IMPORTER (2019): Canada, $291M

This map shows which countries export or import more of Gaskets, washers and other seals of vulcanised rubber. Each country is colored based on the difference in exports and imports of Gaskets, washers and other seals of vulcanised rubber during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Gaskets, washers and other seals of vulcanised rubber were Japan ($465M), Germany ($348M), Italy ($284M), China ($249M), and Poland ($245M).

In 2019, the countries that had a largest trade value in imports than in exports of Gaskets, washers and other seals of vulcanised rubber were Canada ($291M), United States ($185M), Russia ($158M), Brazil ($120M), and Australia ($113M).

Import Tariffs

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In 2018, the average tariff for importing Gaskets, washers and other seals of vulcanised rubber was 9.72%.  The countries with the highest tariffs for importing Gaskets, washers and other seals of vulcanised rubber were Bahamas (40.2%), Iran (40%), Ethiopia (29.7%), Cameroon (29.4%), and Gabon (29.4%).

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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.