HS Icon Wheat

1001 (Harmonized System 1992 for 4-digit)

World Trade (2018): $45.1B, Rnk 84 / 1225

Top Exporter (2018): $10.7B, Russia

Top Importer (2018): $4.54B, Egypt

Export Growth (CAGR)(2017 - 2018): 5.77%, Rnk 943 / 1225

Mean Tariff (2018): 12%, Rnk 312 / 1259

Share of World Trade (2018): 0.25%, Rnk 84 / 1225

Overview:  This page contains the latest trade data of Wheat. In 2018, Wheat were the world's 84th most traded product, with a total trade of $45.1B. Between 2017 and 2018 the exports of Wheat grew by 5.77%, from  $42.6B to $45.1B. Trade in Wheat represent 0.25% of total world trade.

Exports: In 2018 the top exporters of Wheat  were Russia ($10.7B), Canada ($5.79B), United States ($5.7B), France ($4.27B), and Australia ($3.23B).

Imports: In 2018 the top importers of Wheat were Egypt ($4.54B), Indonesia ($2.32B), Algeria ($1.85B), Italy ($1.7B), and Nigeria ($1.64B).

Tariffs: In 2018 the average tariff for Wheat was 12%, been the 312 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Wheat are Poland (54.1%), Turkmenistan (50%), Iran (50%), Israel (49.4%), and India (42.8%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Madagascar (0%), Mauritius (0%), and Rwanda (0%).

Exporters and Importers

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Trade By Country

Top Origin (2018): Russia, $10.7B

Top Destination (2018): Egypt, $4.54B

Wheat are the world's 84th most traded product.

In 2018, the top exporters of Wheat were Russia ($10.7B), Canada ($5.79B), United States ($5.7B), France ($4.27B), and Australia ($3.23B).

In 2018, the top importers of Wheat were Egypt ($4.54B), Indonesia ($2.32B), Algeria ($1.85B), Italy ($1.7B), and Nigeria ($1.64B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Russia, $2.79B

Top Destination Growth (2017 - 2018): Brazil, $440M

Between 2017 and 2018, the exports of Wheat grew the fastest in Russia ($2.79B), France ($1.23B), Pakistan ($420M), Canada ($361M), and Kazakhstan ($338M).

Between 2017 and 2018, the fastest growing importers of Wheat were Brazil ($440M), Egypt ($373M), Iraq ($371M), Philippines ($367M), and Saudi Arabia ($298M).

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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 Wheat.

In 2018,  market concentration measured using Shannon Entropy, was 3.75. This means that most of the exports of Wheat are explained by 13 countries.

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TOP NET EXPORTER (2018): Russia, $10.7B

TOP NET IMPORTER (2018): Egypt, $4.54B

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

In 2018, the countries that had a largest trade value in exports than in imports of Wheat were Russia ($10.7B), Canada ($5.76B), United States ($4.9B), France ($4.17B), and Australia ($3.23B).

In 2018, the countries that had a largest trade value in imports than in exports of Wheat were Egypt ($4.54B), Indonesia ($2.32B), Algeria ($1.85B), Italy ($1.63B), and Japan ($1.48B).

Trade Forecasts

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This section shows forecasts for total trade for Wheat. 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 Wheat was 12%.  The countries with the highest tariffs for importing Wheat were Poland (54.1%), Turkmenistan (50%), Iran (50%), Israel (49.4%), and India (42.8%).

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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.