Latest HS4 trade
$4.2BReported valueHS4 subsector corridor intelligence
Stones
top trade corridors
HS4 7104 - leading exporter-to-importer routes
Explore reported routes for this HS4 subsector, ranked by latest trade value and paired with growth, market share, access, tariff, and distance context.
The route picture at a glanceHS4 7104 - reported trade
Corridors shown
25Leading routes by valueLeading route value
$863.4MLatest reported valueLeading route growth
-2.2%Calculated 3-year changeLatest reported year
20241995-2024 coverageThe HS4 corridor read
India to USA, Puerto Rico and US Virgin Islands leads the reported HS4 7104 routes.
The leading route recorded $863.4M in 2024, with -2.2% calculated three-year growth. Across the HS4 subsector, latest reported trade was $4.2B, with -1.4% calculated three-year growth. Read the HS4 overview ↗
Leading route$863.4M20.3% of latest HS4 trade
Top HS4 corridors
Where Stones trade moves
Observed exporter-to-importer relationships ranked by latest reported trade value. Growth, peak comparisons, and shares are calculated indicators; access fields provide context where available. Review data sources ↗
HS4 7104 exporter-to-importer relationshipsTop 25 by value
Scroll horizontally to compare all route fields.
| 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 | IndiaIND | USA, Puerto Rico and US Virgin IslandsUSA | $863.4M | -2.2% | +32.2% | +80.6% | 20.3% | No FTA reported | 0% | 0% | 0% | +0 pp | 11,771 km | $1.4B2022 | 37.7% | 30 | Stable |
| 2 | China, Hong Kong Special Administrative RegionHKG | IndiaIND | $489.3M | -15% | +9.6% | +30.5% | 11.5% | No FTA reported | 0.5% | 0.5% | Not reported | Not reported | 3,769 km | $913.1M2022 | 46.4% | 30 | Rapid decline |
| 3 | ChinaCHN | China, Hong Kong Special Administrative RegionHKG | $233.0M | -18.2% | +25.7% | +23.4% | 5.5% | FTA reported | 0% | 0% | Not reported | Not reported | 1,226 km | $582.0M2022 | 60% | 30 | Rapid decline |
| 4 | IndiaIND | United Arab EmiratesARE | $210.2M | +18.5% | +62.4% | +34.1% | 5% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 2,204 km | $210.2M2024 | 0% | 30 | Rapid growth |
| 5 | ChinaCHN | IndiaIND | $208.8M | +124.5% | +82.9% | +44.2% | 4.9% | No FTA reported | 0.5% | 0.5% | 0.1% | +0.5 pp | 4,252 km | $269.3M2023 | 22.5% | 30 | Rapid growth |
| 6 | United Arab EmiratesARE | IndiaIND | $170.5M | +14.3% | +60.6% | +12.1% | 4% | No FTA reported | 0.5% | 0.5% | Not reported | Not reported | 2,204 km | $296.4M2022 | 42.5% | 24 | Rapid growth |
| 7 | USA, Puerto Rico and US Virgin IslandsUSA | United Arab EmiratesARE | $132.9M | +23% | +120% | +43.3% | 3.1% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 11,024 km | $359.7M2023 | 63% | 30 | Rapid growth |
| 8 | USA, Puerto Rico and US Virgin IslandsUSA | IndiaIND | $130.1M | +11.8% | +32.8% | +56% | 3.1% | No FTA reported | 0.5% | 0.5% | Not reported | Not reported | 11,771 km | $168.5M2022 | 22.8% | 30 | Rapid growth |
| 9 | United Arab EmiratesARE | China, Hong Kong Special Administrative RegionHKG | $100.3M | +36.3% | +6.6% | +23.2% | 2.4% | No FTA reported | 0% | 0% | Not reported | Not reported | 5,962 km | $159.7M2018 | 37.2% | 19 | Rapid growth |
| 10 | ChinaCHN | United Arab EmiratesARE | $75.1M | +16.5% | +51.6% | +123.1% | 1.8% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 6,430 km | $182.5M2022 | 58.8% | 27 | Rapid growth |
| 11 | IndiaIND | China, Hong Kong Special Administrative RegionHKG | $68.6M | -25.6% | -19.3% | +28.5% | 1.6% | No FTA reported | 0% | 0% | Not reported | Not reported | 3,769 km | $200.6M2019 | 65.8% | 30 | Rapid decline |
| 12 | United Arab EmiratesARE | USA, Puerto Rico and US Virgin IslandsUSA | $59.0M | +1.6% | +3.2% | +122.6% | 1.4% | No FTA reported | 0% | 0% | Not reported | Not reported | 11,024 km | $88.4M2022 | 33.2% | 19 | Stable |
| 13 | China, Hong Kong Special Administrative RegionHKG | United Arab EmiratesARE | $58.4M | -13.2% | -8.6% | +13.9% | 1.4% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 5,962 km | $224.3M2022 | 74% | 27 | Rapid decline |
| 14 | IndiaIND | ThailandTHA | $55.2M | +80.1% | +61% | +46.8% | 1.3% | FTA reported | 0.3% | 0.3% | 0% | +0.3 pp | 2,922 km | $55.2M2024 | 0% | 30 | Rapid growth |
| 15 | IndiaIND | IndiaIND | $54.3M | Not reported | Not reported | Not reported | 1.3% | No FTA reported | 0% | 0% | 0% | +0 pp | 682 km | $62.0M2023 | 12.5% | 2 | Insufficient history |
| 16 | IndiaIND | ChinaCHN | $47.8M | +135.6% | +63.8% | +83.2% | 1.1% | No FTA reported | 0.3% | 0.3% | 0.1% | +0.2 pp | 4,252 km | $47.8M2024 | 0% | 29 | Rapid growth |
| 17 | USA, Puerto Rico and US Virgin IslandsUSA | China, Hong Kong Special Administrative RegionHKG | $39.1M | +6.7% | -0.7% | +14% | 0.9% | No FTA reported | 0% | 0% | Not reported | Not reported | 12,979 km | $67.2M2023 | 41.9% | 30 | Growing |
| 18 | China, Hong Kong Special Administrative RegionHKG | ChinaCHN | $38.9M | -2.7% | +26.2% | +7.6% | 0.9% | FTA reported | 0.3% | 0.3% | 0% | +0.3 pp | 1,226 km | $44.6M2022 | 12.8% | 30 | Stable |
| 19 | ThailandTHA | USA, Puerto Rico and US Virgin IslandsUSA | $37.3M | +126.5% | +79.5% | +37.4% | 0.9% | No FTA reported | 0% | 0% | 0% | +0 pp | 13,951 km | $37.3M2024 | 0% | 30 | Rapid growth |
| 20 | USA, Puerto Rico and US Virgin IslandsUSA | ThailandTHA | $35.6M | +59.3% | +94.8% | +38.7% | 0.8% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 13,951 km | $35.8M2023 | 0.7% | 30 | Rapid growth |
| 21 | IndiaIND | BelgiumBEL | $31.9M | -27.9% | +19% | +108.5% | 0.8% | No FTA reported | 0% | 0.1% | 0% | +0 pp | 6,422 km | $85.0M2021 | 62.5% | 22 | Rapid decline |
| 22 | South AfricaZAF | ChinaCHN | $29.1M | +51.7% | +90.4% | +53% | 0.7% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 11,775 km | $29.1M2024 | 0% | 25 | Rapid growth |
| 23 | IndiaIND | IsraelISR | $29.1M | +1.3% | +63.3% | +58.7% | 0.7% | No FTA reported | 0.1% | 0.1% | Not reported | Not reported | 4,071 km | $43.0M2022 | 32.5% | 30 | Stable |
| 24 | IndiaIND | United KingdomGBR | $27.2M | +21.1% | +21.1% | +84.9% | 0.6% | No FTA reported | Not reported | Not reported | Not reported | Not reported | 6,720 km | $33.5M2022 | 18.8% | 30 | Rapid growth |
| 25 | ChinaCHN | ThailandTHA | $25.6M | +25.3% | +21.7% | +8.5% | 0.6% | FTA reported | 0.3% | 0.3% | 0% | +0.3 pp | 2,887 km | $25.6M2024 | 0% | 30 | Rapid growth |
Movement to watch
Growth leaders for HS4 7104
The strongest available three-year growth rates are starting points for research, not forecasts. Compare the calculated rate with each route's reported value, share, and trend. Read the methodology ↗
01Growth leader
India to China
+135.6%calculated 3-year CAGR$47.8M latest value1.1% market shareRapid growth
02Growth leader
Thailand to USA, Puerto Rico and US Virgin Islands
+126.5%calculated 3-year CAGR$37.3M latest value0.9% market shareRapid growth
03Growth leader
China to India
+124.5%calculated 3-year CAGR$208.8M latest value4.9% market shareRapid growth
04Growth leader
India to Thailand
+80.1%calculated 3-year CAGR$55.2M latest value1.3% market shareRapid growth
05Growth leader
USA, Puerto Rico and US Virgin Islands to Thailand
+59.3%calculated 3-year CAGR$35.6M latest value0.8% market shareRapid growth
Access and tariff context
Compare route access without over-reading one indicator
FTA status, applied tariffs, tariff advantage, and distance are supporting route context. Group averages are calculated from displayed routes and are not tariff recommendations. Check data coverage ↗
4 displayed routes with average calculated growth of +21.1%.
- Average applied tariff
- 0.2%
- Average tariff advantage
- +0.3 pp
21 displayed routes with average calculated growth of +28.2%.
- Average applied tariff
- 0.2%
- Average tariff advantage
- +0.1 pp
Lowest reported applied tariffFTA reported
China to China, Hong Kong Special Administrative Region
0%Routes with an available applied tariff. Latest route value: $233.0M.
Applied 0%Advantage Not reported1,226 km
Largest reported tariff advantageNo FTA reported
China to India
+0.5 ppRoutes with an available tariff advantage. Latest route value: $208.8M.
Applied 0.5%Advantage +0.5 pp4,252 km
HS4 indicators
Scale, momentum, and structure in one view
These cards pair reported trade observations with calculated indicators from the available HS4 history. See indicator definitions ↗
Combined reported value across the 25 routes shown.
Calculated annualized change in reported HS4 trade.
Calculated concentration indicators; higher values mean a more concentrated mix.
Calculated variation in annual reported HS4 trade.
Historical peak: $6.3B in 2022. Latest below peak: 32.7%.
30 observed years; 2,152 active corridors, 129 exporters, 149 importers, and 3 HS6 products.
How to read this view
Keep reported scale separate from calculated movement.
Latest trade values describe reported merchandise trade for HS4 7104. Growth, market share, HHI, volatility, and peak comparisons are calculated indicators over the stated coverage period.
FTA status, tariffs, and distance add route context where available. A missing value stays unavailable; it is not treated as zero or a forecast.
Data source
OECD trade statistics with CEPII context
OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-08-28). OECD BIMTS is the primary trade series for this view. Supporting bilateral trade context uses CEPII BACI bilateral trade flows (202601) under Etalab 2.0 Open Licence. Yugalinks presents derived views of reported observations and calculated indicators. Data terms: OECD Terms & Conditions.