World’s Top 10 Import Products – List of Top Import Items (2024)

13 February 2018

The world import of products stood at USD 16053 billion during2016. The top import product categories are electrical machinery, mechanicalappliances and mineral fuels & oils. The slowest growing import category ismineral fuels & oils which was down by 19% during 2012-16. While thefastest growing import category is pharmaceutical including medicaments whichrecorded up by 2% since the year 2012. In this article, we are analyzing thetop imports of the world at six digit HS Code level. Here is the list of top 10import products that generated highest dollar amount sales in 2016.

1.Crude Petroleum Oil

2.Petroleum medium oils & preparations,excluding biodiesel

3.Medicaments

4.Motor Cars

5.Gold

6.Electronic ICs as processors & controllers

7.Mobile Phones

8.Electronic ICs excluding processors

9.Light oils & preparations of petroleum

10.Machines for conversion & transmission

Crude Petroleum Oil

Crude oil obtained from petroleum oil and bituminous oil,most demanded commodity in the global market that recorded highest importvalue. It is classified under product category of mineral fuels and mineraloils and bituminous substances. The global crude oil imports worth USD 670billion in 2016 which mainly comes under HSCode 270900. China, United States and India are largest crude buyers in theworld and together they import approximately 42% of the total’s value of thisproduct. However, the total global import of crude oil is declined by 23% since2012.

Medium Oils &Preparations

Medium oils and preparations obtained from petroleum orbituminous oil excluding biodiesel which come under the category of energysector products, stood as second largest top import product in the globalmarket. The global import of this product stood at USD 298 billion in 2016. However,the demand of this product is decreased by 18% in the global market between 2012and 2016. Singapore, United States and Netherlands are the top importingcountries in the world for this product.

Medicaments

Pharmaceutical is one of the emerging industries in theregional and global markets. The medicaments consisting of mixed or unmixedproducts classified under HS Code 300490and recorded USD 283.45 billion import value in 2016. It is used fortherapeutic and prophylactic purposes. USA, Germany and Belgium are the largestcountries buying medicaments majorly. In terms of quantity, the global demandof pharmaceutical products mainly medicaments increased by 200% after the year2012.

Motor Cars

Motor car is one of the most demanded products in most ofthe developed countries like United States, China, Canada, Germany, Australiaand United Kingdom. However, automobile is one of the biggest industries thathave maintained its business in the global market. The global imports of motorcar worth USD 283.04 billion during the year 2016. Motor vehicles designed forthe transport of persons with cylinder capacity less than 3.000 cm³ classifiedunder HS Code 870323. It hasrecorded growth of 5% in global import value for this product during 2015-16.

Gold

The imports of precious metals like gold in a vast quantity showsthe positive sign for the country’s economy. Switzerland and China are theworld’s richest countries importing gold majorly and together they recordedmore than half of the global gold import value. According to gold trade data,the global imports of gold worth USD 278 billion during 2016. However, it hasseen a small declined in gold imports in the global market in last five years.

Electronic ICs asProcessors & Controllers

Electronic integrated circuit is a semi-conductor wafercontaining various tiny resistors, capacitors and transistors. Electronic ICsas processors and controllers having the advantage over the discrete circuitsare its cost and performance. These are low in cost and ICs switch quickly andconsume comparatively little power. In import export business, this product isclassified under HS Code 854231 and recorded imports of USD 253 billion in2016. China is the world’s largest importer country of this product followed byHong Kong and United States.

Mobile Phones

Mobile phone is one of the common things among the peopleacross the world. It is used in daily life and one of the basic need products usedby uncountable users. It is one the emerging markets in last decade. The globalimports of mobile phones worth USD 247 billion in 2016. United States, HongKong and Japan are the largest countries importing mobile phones majorly. USAand Hong Kong together they recorded approximately 35% value of the globalmobile imports.

Electronic ICsexcluding Processors

As we mentioned above, electronic IC is a semiconductordevice. The imports of the same product excluding processors, controllers,memories and amplifiers stood at USD 214 billion in 2016. The demand of EICsare more than the processor ICs in the global market. China, Hong Kong,Singapore and Taipei are the top countries importing EICs.

Light Oils &Preparations of Petroleum

United States, Mexico, Singapore, Korea and Netherlands arethe top importing countries of light oils & preparations. It is obtained frompetroleum and bituminous minerals. The global imports of this product worth USD168 billion during the year 2016. In terms of quantity, the import of light oil& preparation is increased by 18% between 2012 and 2016. In energy sectorproducts, this product is classified under HSCode 271012.

Machines forConversion & Transmission

The machines for reception, conversion, transmission ofvoice & images mainly classified under HSCode 851762. The global import of this product worth USD 146 billion in2016 and it has seen an increment in imports by 5% during 2015-16. UnitedStates is the top importing country of this product and covered 30% of theglobal imports. USA is followed by Netherlands, Hong Kong, Germany, Mexico andUnited Kingdom.

Top 10 GoodsImporting Countries in the World

United States of America is the largest importer country inthe world. It recorded 14% of the global total imports and USA imports worthUSD 2248 billion during 2016. China, Germany, United Kingdom, Japan and Franceare next in the list of top importing countries in the world. Check thefollowing table to know the trade figures and share value of 10 largestimporter countries.

*Above stats are based on 2016 report

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