HS Icon Paraffin wax containing <0.75% oil

271220 (Harmonized System 1992 for 6-digit)

World Trade (2018): $1.47B, Rnk 1624 / 4726

Top Exporter (2018): $546M, China

Top Importer (2018): $281M, United States

Product Complexity (2018): 0.65, Rnk 822 / 2722

Export Growth (CAGR)(2017 - 2018): 5.26%, Rnk 3306 / 4726

Mean Tariff (2018): 4.31%, Rnk 4696 / 6538

Share of World Trade (2018): 0.008%, Rnk 1624 / 4726

Overview:  This page contains the latest trade data of Paraffin wax containing <0.75% oil. In 2018, Paraffin wax containing <0.75% oil were the world's 1624th most traded product, with a total trade of $1.47B. Between 2017 and 2018 the exports of Paraffin wax containing <0.75% oil grew by 5.26%, from  $1.39B to $1.47B. Trade in Paraffin wax containing <0.75% oil represent 0.008% of total world trade.

Exports: In 2018 the top exporters of Paraffin wax containing <0.75% oil  were China ($546M), Germany ($166M), South Africa ($154M), Malaysia ($140M), and Egypt ($67.2M).

Imports: In 2018 the top importers of Paraffin wax containing <0.75% oil were United States ($281M), Germany ($176M), Mexico ($130M), Poland ($84.7M), and Netherlands ($57.3M).

Tariffs: In 2018 the average tariff for Paraffin wax containing <0.75% oil was 4.31%, making it the 4696th lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Paraffin wax containing <0.75% oil are Cambodia (35%), Bermuda (25%), Bangladesh (24.5%), Azerbaijan (14.4%), and Iran (12.5%). The countries with the lowest tariffs are Kenya (0%), Mauritius (0%), Rwanda (0%), Tanzania (0%), and Uganda (0%).

Ranking: Paraffin wax containing <0.75% oil ranks 822nd in the Product Complexity Index (PCI).

Description: Paraffin wax is used in many different products that need to be melted or softened. These products need a lower melting point than most waxes and fats. For example, paraffin wax can be used in candles, lipsticks, crayons, chewing gum, and wax paper.

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $546M

Top Destination (2018): United States, $281M

Paraffin wax containing <0.75% oil are the world's 1624th most traded product.

In 2018, the top exporters of Paraffin wax containing <0.75% oil were China ($546M), Germany ($166M), South Africa ($154M), Malaysia ($140M), and Egypt ($67.2M).

In 2018, the top importers of Paraffin wax containing <0.75% oil were United States ($281M), Germany ($176M), Mexico ($130M), Poland ($84.7M), and Netherlands ($57.3M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $24.7M

Top Destination Growth (2017 - 2018): United States, $41.1M

Between 2017 and 2018, the exports of Paraffin wax containing <0.75% oil grew the fastest in China ($24.7M), Malaysia ($22.1M), Egypt ($12.2M), United Kingdom ($11.5M), and Chinese Taipei ($11.4M).

Between 2017 and 2018, the fastest growing importers of Paraffin wax containing <0.75% oil were United States ($41.1M), Hong Kong ($16.1M), Singapore ($8.12M), France ($8.09M), and India ($7.93M).

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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 Paraffin wax containing <0.75% oil.

In 2018,  market concentration measured using Shannon Entropy, was 3.39. This means that most of the exports of Paraffin wax containing <0.75% oil are explained by 10 countries.

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TOP NET EXPORTER (2018): China, $501M

TOP NET IMPORTER (2018): United States, $239M

This map shows which countries export or import more of Paraffin wax containing <0.75% oil. Each country is colored based on the difference in exports and imports of Paraffin wax containing <0.75% oil during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Paraffin wax containing <0.75% oil were China ($501M), South Africa ($144M), Malaysia ($134M), Egypt ($65.9M), and Russia ($22.1M).

In 2018, the countries that had a largest trade value in imports than in exports of Paraffin wax containing <0.75% oil were United States ($239M), Mexico ($130M), Poland ($67.7M), Vietnam ($36.9M), and France ($32.3M).

Import Tariffs

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In 2018, the average tariff for importing Paraffin wax containing <0.75% oil was 4.31%.  The countries with the highest tariffs for importing Paraffin wax containing <0.75% oil were Cambodia (35%), Bermuda (25%), Bangladesh (24.5%), Azerbaijan (14.4%), and Iran (12.5%).

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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.