HS Icon Synthetic Rubber

4002 (Harmonized System 1992 for 4-digit)

 2019
World Trade
: $24.4B, Rnk 158 / 1217

2019
Top Exporter | Top Importer
: $2.76B | $6.42B, South Korea | China

2019
Product Complexity
: 0.85, Rnk 205 / 961

2018 - 2019
Export Growth (CAGR)
: -9.7%, Rnk 955 / 1217

2018
Mean Tariff
: 2.68%, Rnk 1166 / 1259

 2019
Share of World Trade
: 0.13%, Rnk 158 / 1217

Overview:  This page contains the latest trade data of Synthetic Rubber. In 2019, Synthetic Rubber were the world's 158th most traded product, with a total trade of $24.4B. Between 2018 and 2019 the exports of Synthetic Rubber decreased by -9.7%, from  $27B to $24.4B. Trade in Synthetic Rubber represent 0.13% of total world trade.

Exports: In 2019 the top exporters of Synthetic Rubber  were South Korea ($2.76B), United States ($2.37B), Japan ($2.35B), Thailand ($2.19B), and Russia ($1.65B).

Imports: In 2019 the top importers of Synthetic Rubber were China ($6.42B), United States ($1.51B), Germany ($1.21B), Malaysia ($1.19B), and Thailand ($1.04B).

Tariffs: In 2018 the average tariff for Synthetic Rubber was 2.68%, making it the 1166th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Synthetic Rubber are Bahamas (40.3%), Bermuda (25%), Maldives (19.6%), Liberia (18.9%), and Malaysia (12.1%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Synthetic Rubber ranks 205th in the Product Complexity Index (PCI).

Description: Synthetic rubber and factice derived from oils are used in the production of tires, hoses, and belts.

Exporters and Importers

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Trade By Country

Top Origin (2019): South Korea, $2.76B

Top Destination (2019): China, $6.42B

Synthetic Rubber are the world's 158th most traded product.

In 2019, the top exporters of Synthetic Rubber were South Korea ($2.76B), United States ($2.37B), Japan ($2.35B), Thailand ($2.19B), and Russia ($1.65B).

In 2019, the top importers of Synthetic Rubber were China ($6.42B), United States ($1.51B), Germany ($1.21B), Malaysia ($1.19B), and Thailand ($1.04B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Vietnam, $148M

Top Destination Growth (2018 - 2019): Vietnam, $39.1M

Between 2018 and 2019, the exports of Synthetic Rubber grew the fastest in Vietnam ($148M), Myanmar ($53.2M), Indonesia ($47.5M), Finland ($7.39M), and Switzerland ($7.06M).

Between 2018 and 2019, the fastest growing importers of Synthetic Rubber were Vietnam ($39.1M), Cambodia ($12.7M), Egypt ($8.48M), Saudi Arabia ($7.18M), and Kuwait ($6.78M).

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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 Synthetic Rubber.

In 2019,  market concentration measured using Shannon Entropy, was 4.39. This means that most of the exports of Synthetic Rubber are explained by 21 countries.

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TOP NET EXPORTER (2019): South Korea, $2.34B

TOP NET IMPORTER (2019): China, $5.71B

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

In 2019, the countries that had a largest trade value in exports than in imports of Synthetic Rubber were South Korea ($2.34B), Japan ($1.93B), Russia ($1.46B), Thailand ($1.15B), and United States ($862M).

In 2019, the countries that had a largest trade value in imports than in exports of Synthetic Rubber were China ($5.71B), India ($777M), Turkey ($502M), Brazil ($399M), and Indonesia ($355M).

Disaggregation

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Value

In 2019, the world most traded Synthetic Rubber, disaggragated by their HS6 level were Styrene-butadiene rubber (SBR/XSBR) except latex ($5.7B), Mixtures of natural and synthetic rubbers ($3.84B), Butadiene rubber (BR) ($3.17B), Ethylene-propylene-non-conj diene rubber (EPDM) ($2.02B), and Halo-isobutene-isoprene rubber (CIIR/BIIR) ($2.01B)

Import Tariffs

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In 2018, the average tariff for importing Synthetic Rubber was 2.68%.  The countries with the highest tariffs for importing Synthetic Rubber were Bahamas (40.3%), Bermuda (25%), Maldives (19.6%), Liberia (18.9%), and Malaysia (12.1%).

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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.