HS Icon Waxes

3404 (Harmonized System 1992 for 4-digit)

World Trade (2019): $2.77B, Rnk 648 / 1217

Top Exporter (2019): $576M, Germany

Top Importer (2019): $358M, China

Product Complexity (2019): 0.74, Rnk 246 / 961

Export Growth (CAGR)(2018 - 2019): -6.35%, Rnk 812 / 1217

Mean Tariff (2018): 6.81%, Rnk 628 / 1259

Share of World Trade (2019): 0.015%, Rnk 648 / 1217

Overview:  This page contains the latest trade data of Waxes. In 2019, Waxes were the world's 648th most traded product, with a total trade of $2.77B. Between 2018 and 2019 the exports of Waxes decreased by -6.35%, from  $2.96B to $2.77B. Trade in Waxes represent 0.015% of total world trade.

Exports: In 2019 the top exporters of Waxes  were Germany ($576M), United States ($449M), South Korea ($213M), China ($158M), and Denmark ($126M).

Imports: In 2019 the top importers of Waxes were China ($358M), United States ($189M), Germany ($172M), France ($153M), and Italy ($112M).

Tariffs: In 2018 the average tariff for Waxes was 6.81%, making it the 628th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Waxes are Bahamas (40.2%), Cameroon (29.4%), Gabon (29.4%), Chad (29.4%), and Uzbekistan (28.7%). The countries with the lowest tariffs are Kenya (0%), Mauritius (0%), Rwanda (0%), Tanzania (0%), and Uganda (0%).

Ranking: Waxes ranks 246th in the Product Complexity Index (PCI).

Description: Artificial waxes are used in beauty products, such as lipsticks and foundations. Prepared waxes are used to remove hair from the skin.

Exporters and Importers

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Trade By Country

Top Origin (2019): Germany, $576M

Top Destination (2019): China, $358M

Waxes are the world's 648th most traded product.

In 2019, the top exporters of Waxes were Germany ($576M), United States ($449M), South Korea ($213M), China ($158M), and Denmark ($126M).

In 2019, the top importers of Waxes were China ($358M), United States ($189M), Germany ($172M), France ($153M), and Italy ($112M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Finland, $8.56M

Top Destination Growth (2018 - 2019): United Arab Emirates, $7.84M

Between 2018 and 2019, the exports of Waxes grew the fastest in Finland ($8.56M), India ($6.52M), Belgium ($6.45M), Singapore ($5.23M), and Italy ($4.96M).

Between 2018 and 2019, the fastest growing importers of Waxes were United Arab Emirates ($7.84M), India ($4.18M), Finland ($3.39M), Belarus ($3.32M), and Bangladesh ($1.53M).

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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 Waxes.

In 2019,  market concentration measured using Shannon Entropy, was 4.23. This means that most of the exports of Waxes are explained by 18 countries.

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TOP NET EXPORTER (2019): Germany, $405M

TOP NET IMPORTER (2019): China, $199M

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

In 2019, the countries that had a largest trade value in exports than in imports of Waxes were Germany ($405M), United States ($261M), South Korea ($148M), Denmark ($112M), and Malaysia ($83.6M).

In 2019, the countries that had a largest trade value in imports than in exports of Waxes were China ($199M), Turkey ($75.5M), France ($69.3M), Vietnam ($53.8M), and India ($47M).

Disaggregation

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Value

In 2019, the world most traded Waxes, disaggragated by their HS6 level were Artificial and prepared waxes, nes ($2.39B) and Artificial and prepared waxes, of polyethylene... ($383M)

Import Tariffs

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In 2018, the average tariff for importing Waxes was 6.81%.  The countries with the highest tariffs for importing Waxes were Bahamas (40.2%), Cameroon (29.4%), Gabon (29.4%), Chad (29.4%), and Uzbekistan (28.7%).

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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.