# HS4 4115 top trade corridors | Yugalinks

> Published by **Yugalinks**, global trade intelligence for growing businesses.
>
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Explore reported HS4 4115 trade corridors: leading exporter-to-importer routes, value, growth, market share, access, tariffs, and distance context.

Canonical: https://www.yugalinks.com/trade/sector/hs4/4115/corridors

## Page details

- Page type: HS4 subsector top trade corridors
- HS4: **4115 - Leather**
- Parent sector: [HS2 41 overview](https://www.yugalinks.com/trade/sector/hs2/41)
- Coverage: 1995-2024
- Publisher: [Yugalinks](https://www.yugalinks.com/)

## Answer

Viet Nam to Cambodia leads the reported HS4 4115 routes with $43.9M in 2024 and +5% calculated three-year growth. The HS4 subsector recorded $271.4M in latest reported trade, with +1.1% calculated three-year growth.

## Explore Yugalinks

- [Open HS4 4115 in the workspace](https://www.yugalinks.com/app?hs=4115)
- [Read the HS4 overview](https://www.yugalinks.com/trade/sector/hs4/4115)
- [Read the parent HS2 overview](https://www.yugalinks.com/trade/sector/hs2/41)
- [Review data sources](https://www.yugalinks.com/data-sources)
- [Check data coverage](https://www.yugalinks.com/data-coverage)
- [Read the methodology](https://www.yugalinks.com/methodology)
- [Read Responsible AI principles](https://www.yugalinks.com/responsible-ai)

## Summary and indicators

| Measure | Value | Interpretation |
| --- | ---: | --- |
| Latest reported HS4 trade | $271.4M | Reported value in 2024 |
| Displayed corridor value | $172.9M | Sum of the routes shown |
| HS4 3-year CAGR | +1.1% | Calculated annualized change |
| HS4 5-year CAGR | -2.3% | Calculated annualized change |
| HS4 10-year CAGR | -4.9% | Calculated annualized change |
| Latest year-on-year change | -8.6% | Calculated change from the prior year |
| Reported trend | Stable | Available HS4 trend label |
| Historical peak | $446.5M in 2014 | Reported-history comparison |
| Latest below peak | 39.2% | Calculated peak comparison |
| Exporter / importer HHI | 1,179 / 979.2 | Calculated concentration indicators |
| Trade volatility | 0.2 | Calculated variation in annual values |
| Active corridors / exporters / importers / HS6 | 1,733 / 119 / 164 / 2 | Latest available breadth |

## Growth leaders

- **Romania -> United Kingdom**: +1,425.8% calculated three-year CAGR, $9.7M latest reported value, 3.6% market share, trend Rapid growth.
- **United Kingdom -> United Arab Emirates**: +89.4% calculated three-year CAGR, $9.4M latest reported value, 3.5% market share, trend Rapid growth.
- **Republic of Korea -> Philippines**: +80.6% calculated three-year CAGR, $6.9M latest reported value, 2.5% market share, trend Rapid growth.
- **Indonesia -> Philippines**: +56.7% calculated three-year CAGR, $3.3M latest reported value, 1.2% market share, trend Rapid growth.
- **United Kingdom -> Germany**: +55.6% calculated three-year CAGR, $2.7M latest reported value, 1% market share, trend Rapid growth.

## Access and tariff context

FTA status, tariff fields, and distance are route context. Group averages below are calculated from the displayed routes and are not tariff recommendations.

| Access group | Reported route value | Routes | Average 3-year CAGR | Average applied tariff | Average tariff advantage |
| --- | ---: | ---: | ---: | ---: | ---: |
| FTA reported | $148.1M | 20 | +83.2% | 0.1% | +0.1 pp |
| No FTA reported | $24.8M | 5 | +26.9% | 0.2% | Not reported |

- Lowest reported applied tariff route: **Romania -> United Kingdom** at 0%.
- Largest reported tariff advantage route: **Japan -> Philippines** at +0.2 pp.

## Full corridor table

| Rank | Exporter | Importer | Latest trade | 3-year CAGR | 5-year CAGR | 10-year CAGR | Market share | FTA / access | Applied tariff | MFN tariff | Preferential tariff | Tariff advantage | Distance | Historical peak | Latest below peak | Years | Trend |
| ---: | --- | --- | ---: | ---: | ---: | ---: | ---: | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | --- |
| 1 | Viet Nam | Cambodia | $43.9M | +5% | +5.8% | +30.3% | 16.2% | FTA reported | 0.2% | 0.2% | 0% | +0.2 pp | 211 km | $43.9M (2024) | 0% | 24 | Growing |
| 2 | China | Cambodia | $21.0M | +17.4% | +11.5% | +16.9% | 7.7% | FTA reported | 0.2% | 0.2% | Not reported | Not reported | 2,763 km | $21.0M (2024) | 0% | 25 | Rapid growth |
| 3 | Republic of Korea | Cambodia | $11.8M | +15.2% | +11.5% | +36.7% | 4.3% | FTA reported | 0.2% | 0.2% | 0% | +0.2 pp | 3,625 km | $12.7M (2022) | 7.3% | 25 | Rapid growth |
| 4 | Republic of Korea | Viet Nam | $11.3M | -7.4% | +1.2% | +12.2% | 4.1% | FTA reported | 0.2% | 0.2% | 0% | +0.1 pp | 3,599 km | $14.4M (2020) | 21.8% | 30 | Declining |
| 5 | Romania | United Kingdom | $9.7M | +1,425.8% | +958.6% | +305.2% | 3.6% | FTA reported | 0% | 0% | 0% | +0 pp | 2,096 km | $9.7M (2024) | 0% | 13 | Rapid growth |
| 6 | United Kingdom | United Arab Emirates | $9.4M | +89.4% | +14.2% | +22.6% | 3.5% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 5,477 km | $9.4M (2024) | 0% | 27 | Rapid growth |
| 7 | United Kingdom | USA, Puerto Rico and US Virgin Islands | $8.4M | +25.6% | -9.8% | -4.3% | 3.1% | No FTA reported | 0% | 0% | Not reported | Not reported | 5,585 km | $29.5M (2016) | 71.5% | 30 | Rapid growth |
| 8 | Republic of Korea | Philippines | $6.9M | +80.6% | +131.9% | +14.4% | 2.5% | FTA reported | 0.2% | 0.2% | 0% | +0.2 pp | 2,613 km | $6.9M (2024) | 0% | 30 | Rapid growth |
| 9 | Japan | Philippines | $6.8M | +48.9% | +243.2% | +20.5% | 2.5% | FTA reported | 0.2% | 0.2% | 0% | +0.2 pp | 2,990 km | $7.5M (2023) | 9.1% | 30 | Rapid growth |
| 10 | Germany | Italy | $4.0M | +3% | -5.1% | -8.5% | 1.5% | FTA reported | 0% | 0% | 0% | +0 pp | 1,184 km | $14.8M (1996) | 73.1% | 30 | Growing |
| 11 | China | Philippines | $3.5M | +18.3% | +11.3% | +16.7% | 1.3% | FTA reported | 0.2% | 0.2% | 0% | +0.2 pp | 1,841 km | $4.4M (2023) | 21% | 28 | Rapid growth |
| 12 | United Kingdom | Turkey | $3.5M | +26.3% | +37.7% | +26.1% | 1.3% | FTA reported | 0.1% | 0.1% | 0% | +0.1 pp | 2,504 km | $5.2M (2023) | 32.6% | 30 | Rapid growth |
| 13 | China | Viet Nam | $3.5M | -0.7% | -5.3% | +4.8% | 1.3% | FTA reported | 0.2% | 0.2% | 0% | +0.1 pp | 2,732 km | $6.0M (2016) | 42.3% | 30 | Stable |
| 14 | Indonesia | Philippines | $3.3M | +56.7% | +74.5% | +91.7% | 1.2% | FTA reported | 0.2% | 0.2% | 0% | +0.2 pp | 2,782 km | $4.9M (2023) | 32.5% | 23 | Rapid growth |
| 15 | China | Indonesia | $3.2M | -41.4% | -24.1% | -0.9% | 1.2% | FTA reported | 0.2% | 0.2% | 0.1% | +0.1 pp | 4,425 km | $16.0M (2021) | 79.9% | 29 | Rapid decline |
| 16 | United Kingdom | Poland | $2.9M | +1.6% | +15.3% | +27.2% | 1.1% | FTA reported | 0.1% | 0.1% | 0% | +0 pp | 1,453 km | $4.1M (2023) | 28.9% | 26 | Stable |
| 17 | Italy | China | $2.7M | -3.7% | +6.7% | -6.6% | 1% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 9,138 km | $6.8M (2006) | 60% | 30 | Declining |
| 18 | United Kingdom | Germany | $2.7M | +55.6% | +20.1% | +12.5% | 1% | FTA reported | 0% | 0% | 0% | +0 pp | 935 km | $3.2M (2023) | 15% | 29 | Rapid growth |
| 19 | Germany | China | $2.4M | +10% | -3.3% | -3.9% | 0.9% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 8,415 km | $4.4M (2010) | 45.8% | 30 | Rapid growth |
| 20 | Thailand | Cambodia | $2.4M | -30.1% | -24.4% | -13.6% | 0.9% | FTA reported | 0.2% | 0.2% | 0% | +0.2 pp | 533 km | $12.3M (2018) | 80.7% | 25 | Rapid decline |
| 21 | China, Hong Kong Special Administrative Region | Cambodia | $2.1M | -21.4% | -3.7% | -7.6% | 0.8% | FTA reported | 0.2% | 0.2% | Not reported | Not reported | 1,542 km | $4.7M (2014) | 54.5% | 25 | Rapid decline |
| 22 | South Africa | Lesotho | $2.1M | -42% | -26.3% | +55.7% | 0.8% | FTA reported | Not reported | Not reported | Not reported | Not reported | 350 km | $10.6M (2021) | 80.5% | 23 | Rapid decline |
| 23 | Italy | India | $1.9M | +13.3% | +3.1% | -6% | 0.7% | No FTA reported | 0.5% | 0.5% | Not reported | Not reported | 5,927 km | $3.5M (2014) | 46.3% | 30 | Rapid growth |
| 24 | USA, Puerto Rico and US Virgin Islands | Mexico | $1.9M | +51.6% | +57.4% | +23.6% | 0.7% | FTA reported | 0.1% | 0.1% | 0% | +0.1 pp | 3,359 km | $14.0M (2005) | 86.6% | 30 | Rapid growth |
| 25 | Italy | Tunisia | $1.8M | +1.6% | -8% | +2.2% | 0.7% | FTA reported | 0.3% | 0.3% | Not reported | Not reported | 598 km | $4.1M (1998) | 56% | 30 | Stable |

## Definitions

Latest trade values are reported merchandise trade observations. CAGR, market share, HHI, volatility, and peak comparisons are calculated indicators over the available history. FTA, tariffs, and distance provide route context where available. Missing values remain unavailable and are not imputed or presented as forecasts.

## Data sources

- Primary trade series: OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-08-28). [OECD Data Explorer](https://data-explorer.oecd.org/) - [OECD Terms & Conditions](https://www.oecd.org/termsandconditions/)
- CEPII BACI bilateral trade flows (202601): [dataset page](https://www.cepii.fr/CEPII/en/bdd_modele/bdd_modele_item.asp?id=37) - [BACI documentation](https://www.cepii.fr/DATA_DOWNLOAD/baci/doc/baci_webpage.html) - [Etalab 2.0 Open Licence](https://www.etalab.gouv.fr/wp-content/uploads/2018/11/open-licence.pdf)

This page presents derived Yugalinks views of reported observations and calculated indicators.

## Continue your research

- [Open the HS4 workspace](https://www.yugalinks.com/app?hs=4115)
- [Read the HS4 overview](https://www.yugalinks.com/trade/sector/hs4/4115)
- [Read the HS2 overview](https://www.yugalinks.com/trade/sector/hs2/41)
- [Review data sources](https://www.yugalinks.com/data-sources)
- [Check data coverage](https://www.yugalinks.com/data-coverage)
- [Read methodology](https://www.yugalinks.com/methodology)
- [Read Responsible AI principles](https://www.yugalinks.com/responsible-ai)