HS Icon Hormones

2937 (Harmonized System 1992 for 4-digit)

World Trade (2019): $18.4B, Rnk 200 / 1217

Top Exporter (2019): $3.94B, United States

Top Importer (2019): $3.12B, Austria

Product Complexity (2019): 0.76, Rnk 238 / 961

Export Growth (CAGR)(2018 - 2019): 19.5%, Rnk 32 / 1217

Mean Tariff (2018): 2.56%, Rnk 1177 / 1259

Share of World Trade (2019): 0.1%, Rnk 200 / 1217

Overview:  This page contains the latest trade data of Hormones. In 2019, Hormones were the world's 200th most traded product, with a total trade of $18.4B. Between 2018 and 2019 the exports of Hormones grew by 19.5%, from  $15.4B to $18.4B. Trade in Hormones represent 0.1% of total world trade.

Exports: In 2019 the top exporters of Hormones  were United States ($3.94B), Belgium ($2.35B), Ireland ($2.22B), Switzerland ($2.17B), and Denmark ($1.21B).

Imports: In 2019 the top importers of Hormones were Austria ($3.12B), France ($2.84B), United States ($2.69B), Italy ($2.25B), and China ($948M).

Tariffs: In 2018 the average tariff for Hormones was 2.56%, making it the 1177th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Hormones are Bahamas (40.2%), Bermuda (25%), Iran (17.5%), Maldives (14.7%), and Algeria (12.7%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mozambique (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Hormones ranks 238th in the Product Complexity Index (PCI).

Description: Hormones are chemical messengers used to regulate various functions in the body. Prostaglandins, thromboxanes, and leukotrienes are all made from arachidonic acid. Natural prostaglandins are derived from arachidonic acid and are used as hormones in the body. Synthetic prostaglandins are also used as hormones in the body. Derivatives and structural analogues of prostaglandins, thromboxanes, and leukotrienes are also used as hormones in the body.

Exporters and Importers

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Trade By Country

Top Origin (2019): United States, $3.94B

Top Destination (2019): Austria, $3.12B

Hormones are the world's 200th most traded product.

In 2019, the top exporters of Hormones were United States ($3.94B), Belgium ($2.35B), Ireland ($2.22B), Switzerland ($2.17B), and Denmark ($1.21B).

In 2019, the top importers of Hormones were Austria ($3.12B), France ($2.84B), United States ($2.69B), Italy ($2.25B), and China ($948M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Ireland, $1.34B

Top Destination Growth (2018 - 2019): United States, $1.44B

Between 2018 and 2019, the exports of Hormones grew the fastest in Ireland ($1.34B), United States ($1.07B), France ($379M), Belgium ($283M), and Argentina ($249M).

Between 2018 and 2019, the fastest growing importers of Hormones were United States ($1.44B), Austria ($799M), Italy ($615M), Australia ($378M), and China ($220M).

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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 Hormones.

In 2019,  market concentration measured using Shannon Entropy, was 3.75. This means that most of the exports of Hormones are explained by 13 countries.

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TOP NET EXPORTER (2019): Ireland, $2.09B

TOP NET IMPORTER (2019): France, $2.24B

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

In 2019, the countries that had a largest trade value in exports than in imports of Hormones were Ireland ($2.09B), Switzerland ($1.72B), Belgium ($1.45B), United States ($1.25B), and Denmark ($1.16B).

In 2019, the countries that had a largest trade value in imports than in exports of Hormones were France ($2.24B), Austria ($2.11B), Italy ($1.69B), Canada ($872M), and Australia ($820M).

Disaggregation

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Value

In 2019, the world most traded Hormones, disaggragated by their HS6 level were Hormones nes, derivatives, in bulk, steroids... ($8.72B), Adrenal cortical hormones nes, in bulk,... ($4.48B), Insulin, salts, in bulk ($2.73B), Halogenated derivs adrenalal cortical hormones, bulk ($1.23B), and Oestrogens and progestogens, in bulk ($931M)

Import Tariffs

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In 2018, the average tariff for importing Hormones was 2.56%.  The countries with the highest tariffs for importing Hormones were Bahamas (40.2%), Bermuda (25%), Iran (17.5%), Maldives (14.7%), and Algeria (12.7%).

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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.