Overview: This page contains the latest trade data of Packing Bags. In 2019, Packing Bags were the world's 473rd most traded product, with a total trade of $5.33B. Between 2018 and 2019 the exports of Packing Bags decreased by -6.31%, from $5.69B to $5.33B. Trade in Packing Bags represent 0.029% of total world trade.
Exports: In 2019 the top exporters of Packing Bags were China ($1.53B), India ($1.02B), Vietnam ($461M), Turkey ($319M), and Thailand ($155M).
Ranking: Packing Bags ranks 914th in the Product Complexity Index (PCI).
Description: Sacks and bags are used to store a variety of different goods. They can be made from a variety of materials, including cotton, polyester, nylon, and polypropylene.
Top Destination Growth (2018 - 2019): India, $15.1M
Between 2018 and 2019, the exports of Packing Bags grew the fastest in Thailand ($27.9M), United States ($16.3M), Vietnam ($12.8M), Pakistan ($12.6M), and Russia ($11.4M).
Between 2018 and 2019, the fastest growing importers of Packing Bags were India ($15.1M), Kazakhstan ($8.46M), Indonesia ($8.01M), Japan ($7.34M), and Russia ($7.18M).
This chart shows the evolution of the market concentration of exports of Packing Bags.
In 2019, market concentration measured using Shannon Entropy, was 4.18. This means that most of the exports of Packing Bags are explained by 18 countries.
This map shows which countries export or import more of Packing Bags. Each country is colored based on the difference in exports and imports of Packing Bags during 2019.
In 2019, the countries that had a largest trade value in exports than in imports of Packing Bags were China ($1.51B), India ($959M), Vietnam ($433M), Turkey ($312M), and Bangladesh ($109M).
In 2019, the countries that had a largest trade value in imports than in exports of Packing Bags were United States ($610M), Japan ($471M), South Korea ($266M), France ($222M), and Germany ($204M).
In 2018, the average tariff for importing Packing Bags was 15.8%. The countries with the highest tariffs for importing Packing Bags were Iran (65%), Syria (54.1%), Maldives (49.1%), and Brazil (33.6%).
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.