Latest HS4 trade
$303.3MReported valueHS4 subsector corridor intelligence
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HS4 9110 - 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 9110 - reported trade
Corridors shown
25Leading routes by valueLeading route value
$63.9MLatest reported valueLeading route growth
-13.6%Calculated 3-year changeLatest reported year
20241995-2024 coverageThe HS4 corridor read
Japan to China, Hong Kong Special Administrative Region leads the reported HS4 9110 routes.
The leading route recorded $63.9M in 2024, with -13.6% calculated three-year growth. Across the HS4 subsector, latest reported trade was $303.3M, with -5.5% calculated three-year growth. Read the HS4 overview ↗
Leading route$63.9M21.1% of latest HS4 trade
Top HS4 corridors
Where Watches 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 9110 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 | JapanJPN | China, Hong Kong Special Administrative RegionHKG | $63.9M | -13.6% | -12.9% | -9.4% | 21.1% | No FTA reported | 0% | 0% | Not reported | Not reported | 2,882 km | $235.3M2011 | 72.8% | 30 | Rapid decline |
| 2 | MalaysiaMYS | SingaporeSGP | $44.7M | -4.6% | +2.5% | +57% | 14.7% | FTA reported | 0% | 0% | 0% | +0 pp | 316 km | $56.1M2022 | 20.2% | 30 | Declining |
| 3 | MalaysiaMYS | China, Hong Kong Special Administrative RegionHKG | $28.9M | +50.3% | +7.8% | +89.4% | 9.5% | FTA reported | 0% | 0% | Not reported | Not reported | 2,511 km | $34.7M2023 | 16.7% | 29 | Rapid growth |
| 4 | ChinaCHN | JapanJPN | $23.2M | -10% | -10.5% | -3.8% | 7.6% | No FTA reported | 0% | 0% | 0% | +0 pp | 1,763 km | $44.1M2022 | 47.4% | 30 | Rapid decline |
| 5 | SingaporeSGP | China, Hong Kong Special Administrative RegionHKG | $19.8M | +1.2% | -3.7% | -7.5% | 6.5% | FTA reported | 0% | 0% | Not reported | Not reported | 2,578 km | $82.0M2010 | 75.8% | 30 | Stable |
| 6 | SingaporeSGP | JapanJPN | $18.0M | +7.5% | +6.7% | +11.4% | 5.9% | FTA reported | 0% | 0% | 0% | +0 pp | 5,310 km | $21.4M2022 | 16% | 30 | Growing |
| 7 | MalaysiaMYS | JapanJPN | $12.9M | -4.2% | +43% | +100.7% | 4.3% | FTA reported | 0% | 0% | 0% | +0 pp | 5,315 km | $16.5M2022 | 21.7% | 29 | Declining |
| 8 | SingaporeSGP | MalaysiaMYS | $11.6M | +1.3% | -6.8% | +16.7% | 3.8% | FTA reported | 0.1% | 0.1% | 0.1% | +0 pp | 316 km | $16.4M2019 | 29.6% | 30 | Stable |
| 9 | JapanJPN | ChinaCHN | $8.4M | -12.4% | -8.7% | -5.2% | 2.8% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 1,763 km | $19.2M2007 | 56.4% | 30 | Rapid decline |
| 10 | JapanJPN | ThailandTHA | $7.6M | -13.6% | -13.3% | -2.6% | 2.5% | FTA reported | 0.3% | 0.3% | 0% | +0.3 pp | 4,604 km | $15.5M2019 | 50.9% | 30 | Rapid decline |
| 11 | China, Hong Kong Special Administrative RegionHKG | IndiaIND | $5.4M | +29.2% | +1.8% | +25.6% | 1.8% | No FTA reported | 0.5% | 0.5% | Not reported | Not reported | 3,769 km | $6.5M2018 | 18% | 30 | Rapid growth |
| 12 | ThailandTHA | China, Hong Kong Special Administrative RegionHKG | $4.7M | +2.4% | +31% | -8.6% | 1.5% | FTA reported | 0% | 0% | Not reported | Not reported | 1,728 km | $35.2M1995 | 86.7% | 30 | Stable |
| 13 | China, Hong Kong Special Administrative RegionHKG | ChinaCHN | $4.0M | -38.5% | -35.7% | -16.8% | 1.3% | FTA reported | 0.3% | 0.3% | 0% | +0.3 pp | 1,226 km | $87.7M1995 | 95.4% | 30 | Rapid decline |
| 14 | Switzerland, LiechtensteinCHE | ThailandTHA | $3.6M | -5.5% | -13.4% | -17.9% | 1.2% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 9,050 km | $67.7M2011 | 94.7% | 30 | Declining |
| 15 | ChinaCHN | China, Hong Kong Special Administrative RegionHKG | $2.6M | +2.7% | -5.7% | -15.8% | 0.9% | FTA reported | 0% | 0% | Not reported | Not reported | 1,226 km | $49.9M1995 | 94.8% | 30 | Stable |
| 16 | MalaysiaMYS | ThailandTHA | $2.4M | +106.5% | +156.6% | +80% | 0.8% | FTA reported | 0.3% | 0.3% | 0% | +0.3 pp | 1,177 km | $2.4M2024 | 0% | 24 | Rapid growth |
| 17 | USA, Puerto Rico and US Virgin IslandsUSA | Switzerland, LiechtensteinCHE | $2.4M | +68.2% | +33.6% | +46.1% | 0.8% | No FTA reported | 0% | 0% | Not reported | Not reported | 6,339 km | $2.4M2024 | 0% | 30 | Rapid growth |
| 18 | Switzerland, LiechtensteinCHE | FranceFRA | $2.0M | +31.4% | +8.8% | +9.7% | 0.7% | FTA reported | 0% | 0.1% | 0% | +0 pp | 487 km | $3.5M2002 | 43.7% | 30 | Rapid growth |
| 19 | SingaporeSGP | ThailandTHA | $1.9M | +104% | +653.5% | +219.5% | 0.6% | FTA reported | 0.3% | 0.3% | 0% | +0.3 pp | 1,423 km | $1.9M2024 | 0% | 29 | Rapid growth |
| 20 | Switzerland, LiechtensteinCHE | GermanyDEU | $1.8M | +25.9% | +10.2% | -1.1% | 0.6% | FTA reported | 0% | 0.1% | 0% | +0 pp | 674 km | $3.4M2023 | 46% | 30 | Rapid growth |
| 21 | JapanJPN | BrazilBRA | $1.6M | +10.3% | -3.2% | -5% | 0.5% | No FTA reported | 0.3% | 0.3% | Not reported | Not reported | 18,530 km | $5.1M2013 | 68.4% | 30 | Rapid growth |
| 22 | JapanJPN | IndiaIND | $1.4M | +1.8% | +3.1% | -2.6% | 0.5% | FTA reported | 0.5% | 0.5% | 0% | +0.5 pp | 5,846 km | $2.7M2016 | 47% | 30 | Stable |
| 23 | TunisiaTUN | FranceFRA | $1.4M | +782.9% | +269.4% | +38.8% | 0.5% | FTA reported | 0% | 0.1% | 0% | +0 pp | 1,480 km | $1.4M2024 | 0% | 9 | Rapid growth |
| 24 | ItalyITA | Switzerland, LiechtensteinCHE | $1.3M | +36.7% | +28.9% | +6.4% | 0.4% | FTA reported | 0% | 0% | 0% | -0 pp | 684 km | $1.3M2024 | 0% | 30 | Rapid growth |
| 25 | Switzerland, LiechtensteinCHE | USA, Puerto Rico and US Virgin IslandsUSA | $1.2M | -10.1% | -11.1% | -11.6% | 0.4% | No FTA reported | 0% | 0% | Not reported | Not reported | 6,339 km | $5.0M1995 | 76.8% | 30 | Rapid decline |
Movement to watch
Growth leaders for HS4 9110
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
Tunisia to France
+782.9%calculated 3-year CAGR$1.4M latest value0.5% market shareRapid growth
02Growth leader
Malaysia to Thailand
+106.5%calculated 3-year CAGR$2.4M latest value0.8% market shareRapid growth
03Growth leader
Singapore to Thailand
+104%calculated 3-year CAGR$1.9M latest value0.6% market shareRapid growth
04Growth leader
USA, Puerto Rico and US Virgin Islands to Switzerland, Liechtenstein
+68.2%calculated 3-year CAGR$2.4M latest value0.8% market shareRapid growth
05Growth leader
Malaysia to China, Hong Kong Special Administrative Region
+50.3%calculated 3-year CAGR$28.9M latest value9.5% 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 ↗
17 displayed routes with average calculated growth of +64.3%.
- Average applied tariff
- 0.1%
- Average tariff advantage
- +0.1 pp
8 displayed routes with average calculated growth of +7%.
- Average applied tariff
- 0.2%
- Average tariff advantage
- +0 pp
Lowest reported applied tariffNo FTA reported
Japan to China, Hong Kong Special Administrative Region
0%Routes with an available applied tariff. Latest route value: $63.9M.
Applied 0%Advantage Not reported2,882 km
Largest reported tariff advantageFTA reported
Japan to India
+0.5 ppRoutes with an available tariff advantage. Latest route value: $1.4M.
Applied 0.5%Advantage +0.5 pp5,846 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: $659.9M in 1995. Latest below peak: 54%.
30 observed years; 1,200 active corridors, 88 exporters, 158 importers, and 4 HS6 products.
How to read this view
Keep reported scale separate from calculated movement.
Latest trade values describe reported merchandise trade for HS4 9110. 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.