Plastics and RubbersVII (Harmonized System 1992 for Section)
2019 World Trade: $817B, Rnk 6 / 21
2019 Top Exporter | Top Importer: $110B | $88.9B, China | United States
2019 Product Complexity: 0.86, Rnk 5 / 21
2018 - 2019 Export Growth (CAGR): -4.54%, Rnk 16 / 21
2018 Mean Tariff: 7.65%, Rnk 13 / 21
2019 Share of World Trade: 4.51%, Rnk 6 / 21
Overview This page contains the latest trade data of Plastics and Rubbers. In 2019, Plastics and Rubbers were the world's 6th most traded product, with a total trade of $817B. Between 2018 and 2019 the exports of Plastics and Rubbers decreased by -4.54%, from $856B to $817B. Trade in Plastics and Rubbers represent 4.51% of total world trade.
Exports In 2019 the top exporters of Plastics and Rubbers were China ($110B), Germany ($82.4B), United States ($79.4B), South Korea ($40.1B), and Japan ($37B).
Imports In 2019 the top importers of Plastics and Rubbers were United States ($88.9B), China ($75.7B), Germany ($58.3B), France ($32.2B), and Mexico ($28.7B).
Tariffs In 2018 the average tariff for Plastics and Rubbers was 7.65%, making it the 13th lowest tariff using the Section product classification.
The countries with the highest import tariffs for Plastics and Rubbers are Bahamas (32.4%), Maldives (30.2%), Bermuda (25.1%), Iran (16.9%), and Pakistan (16.6%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), Norway (0%), and Canada (0.63%).
Ranking Plastics and Rubbers ranks 5th in the Product Complexity Index (PCI).
Trade By Country
Top Origin (2019): China, $110B
Top Destination (2019): United States, $88.9B
Plastics and Rubbers are the world's 6th most traded product.
In 2019, the top exporters of Plastics and Rubbers were China ($110B), Germany ($82.4B), United States ($79.4B), South Korea ($40.1B), and Japan ($37B).
In 2019, the top importers of Plastics and Rubbers were United States ($88.9B), China ($75.7B), Germany ($58.3B), France ($32.2B), and Mexico ($28.7B).
Trade by country
Between 2018 and 2019, the exports of Plastics and Rubbers grew the fastest in China ($3.28B), Vietnam ($1.08B), Turkey ($771M), Egypt ($276M), and Cote d'Ivoire ($170M).
Between 2018 and 2019, the fastest growing importers of Plastics and Rubbers were Vietnam ($933M), Saudi Arabia ($843M), Cambodia ($239M), Uzbekistan ($220M), and Philippines ($177M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Plastics and Rubbers.
In 2019, market concentration measured using Shannon Entropy, was 4.96. This means that most of the exports of Plastics and Rubbers are explained by 31 countries.
This map shows which countries export or import more of Plastics and Rubbers. Each country is colored based on the difference in exports and imports of Plastics and Rubbers during 2019.
In 2019, the countries that had a largest trade value in exports than in imports of Plastics and Rubbers were China ($33.9B), South Korea ($26.6B), Germany ($24.1B), Thailand ($19.5B), and Japan ($16.1B).
In 2019, the countries that had a largest trade value in imports than in exports of Plastics and Rubbers were Mexico ($16.1B), United Kingdom ($9.94B), United States ($9.59B), Australia ($7.77B), and Vietnam ($7.73B).
In 2019, the world most traded Plastics and Rubbers, disaggragated by their HS6 level were Plastic articles nes ($68.1B), Pneumatic tyres new of rubber for... ($42.2B), Polyethylene - specific gravity >0.94 in... ($29.2B), Polyethylene - specific gravity <0.94 in... ($25.3B), and Polypropylene in primary forms ($25.3B)
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.