HS Icon Molasses

1703 (Harmonized System 1992 for 4-digit)

World Trade (2018): $871M, Rnk 943 / 1225

Top Exporter (2018): $68.9M, India

Top Importer (2018): $119M, United States

Product Complexity (2018): -1.44, Rnk 928 / 1018

Export Growth (CAGR)(2017 - 2018): 2.05%, Rnk 1039 / 1225

Mean Tariff (2018): 12.8%, Rnk 278 / 1259

Share of World Trade (2018): 0.0047%, Rnk 943 / 1225

Overview:  This page contains the latest trade data of Molasses. In 2018, Molasses were the world's 943rd most traded product, with a total trade of $871M. Between 2017 and 2018 the exports of Molasses grew by 2.05%, from  $854M to $871M. Trade in Molasses represent 0.0047% of total world trade.

Exports: In 2018 the top exporters of Molasses  were India ($68.9M), Indonesia ($62.7M), Russia ($59.7M), Germany ($47.4M), and Guatemala ($43M).

Imports: In 2018 the top importers of Molasses were United States ($119M), United Kingdom ($78.6M), Netherlands ($57.7M), Belgium-Luxembourg ($53.3M), and South Korea ($51.4M).

Tariffs: In 2018 the average tariff for Molasses was 12.8%, been the 278 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Molasses are Poland (43.8%), Hungary (36.8%), Tunisia (36%), Fiji (31.1%), and Turkey (31.1%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Hong Kong (0%), Maldives (0%), and Singapore (0%).

Ranking: Molasses ranks 928th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): India, $68.9M

Top Destination (2018): United States, $119M

Molasses are the world's 943rd most traded product.

In 2018, the top exporters of Molasses were India ($68.9M), Indonesia ($62.7M), Russia ($59.7M), Germany ($47.4M), and Guatemala ($43M).

In 2018, the top importers of Molasses were United States ($119M), United Kingdom ($78.6M), Netherlands ($57.7M), Belgium-Luxembourg ($53.3M), and South Korea ($51.4M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): India, $45.1M

Top Destination Growth (2017 - 2018): New Zealand, $19.7M

Between 2017 and 2018, the exports of Molasses grew the fastest in India ($45.1M), Belgium-Luxembourg ($7.47M), Indonesia ($7.18M), Mexico ($6.96M), and Panama ($6.81M).

Between 2017 and 2018, the fastest growing importers of Molasses were New Zealand ($19.7M), Netherlands ($18.7M), United States ($17.7M), Italy ($13.1M), and Ireland ($9.94M).

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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 Molasses.

In 2018,  market concentration measured using Shannon Entropy, was 5.29. This means that most of the exports of Molasses are explained by 39 countries.

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TOP NET EXPORTER (2018): India, $67.9M

TOP NET IMPORTER (2018): United States, $87.1M

This map shows which countries export or import more of Molasses. Each country is colored based on the difference in exports and imports of Molasses during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Molasses were India ($67.9M), Russia ($59.7M), Indonesia ($46.8M), Guatemala ($42.9M), and Australia ($39.1M).

In 2018, the countries that had a largest trade value in imports than in exports of Molasses were United States ($87.1M), United Kingdom ($59M), South Korea ($50.8M), Belgium-Luxembourg ($37.4M), and Italy ($37.3M).

Trade Forecasts

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This section shows forecasts for total trade for Molasses. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Import Tariffs

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In 2018, the average tariff for importing Molasses was 12.8%.  The countries with the highest tariffs for importing Molasses were Poland (43.8%), Hungary (36.8%), Tunisia (36%), Fiji (31.1%), and Turkey (31.1%).

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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.