Getting Started
Using the Market Diversification Tool Navigation
When you navigate to the Market Diversification Tool, you will use the buttons on the left side of the menu. Follow the steps to run a search.
Current Export Markets
On the “Exporter Type” page, choose whether you’re a new exporter or already exporting.
- If you are already exporting, enter any markets to which you currently export your products in the menu.
- If you are a new exporter, you can move directly to the “Products” page.
Products
On the “Products” page, enter the products you are currently exporting or plan to export.
The products are identified by their six-digit Harmonized System (HS) numbers.
HS numbers or codes are used around the world to classify products for tariffs and measure trade. The Harmonized System is governed by the World Customs Organization (WCO). Learn more about the Harmonized System from the WCO.
The Harmonized System is more or less standardized between countries at a basic 6-digit subheading level, with country-specific national line definitions at more detailed 8- and 10-digit levels. The tool uses data at this subheading level because it is the most detailed data that is still comparable between countries.
If you already export, the number you need will be the first six digits of your Schedule B number or the first six digits of your export market’s tariff code.
Product classifications in the United States are provided in two publications, one for exports and one for imports. The Schedule B is for exports. The number you need for this tool should be the first six digits of that Schedule B number you have already used when filing your export paperwork.
So, if your company exports men’s sweaters with a Schedule B number of 6110.30.1570, the HS number you will use for the tool is 611030. Note: enter the HS numbers in the tool without the periods (611030, not 6110.30).
If you don’t have your HS code, or you’re a new exporter, the Schedule B Search Engine from the U.S. Census Bureau can also help identify the HS numbers for your products.
You can enter up to 25 products numbers in a search, but the results will be more useful if you enter just one product at a time or a few, closely-related products.
Markets In The Results
On the “New Markets” page, you’ll select the markets you are considering and want to see in the results. You may already have an idea of which countries you are considering for your next export market. Maybe you’re thinking of comparing countries in a specific region, like Europe, or maybe you have a short list of markets you want to compare from across the globe.
It’s important to remember that the tool will only compare the markets you select here.
The tool allows you to select markets in three ways:
- All Markets
- Specific Countries
- Specific Regions
*Choosing “All Markets” will compare all markets where the tool has sufficient data. This is the default.
Sufficient data means:
- We have a tariff schedule for the country (a list of the country’s tariffs for each product)
- The country has published trade data for at least three of the five years of data included in the tool, and
- We have data for the country in the other country-level datasets included in the calculations, such as logistics performance.
Choosing “Specific Markets” opens up a menu with a list of countries. So, if you’ve narrowed down your thinking to a set of specific countries, you can select those here. We suggest choosing at least five markets to get optimal results.
Finally, choosing “Specific Regions,” opens a menu with a list of regions. You can choose more than one region. You can also check which countries are included in the region, and which of those have sufficient data by clicking the “Countries in the Region” button.
Click “Go to Results” once you’ve made your selections. This will take you to the results overview. From there, you can return to the menus to adjust your selections by clicking the back arrow button at the top left.
Limiting The Results
The “Limit the Results” page will allow you to limit the number of markets you see in the results.
You can see the top ten to fifty markets ranked by their overall scores. However, limiting the results here will not change the market scores.
If nothing is selected, the results will show all markets for which there is sufficient data. You can click the “Clear” button to deselect all the values and see all the markets in the results.
Changing The Weights
On the “Change Weights” page, you can also adjust the weights used to combine the different indicators in the final market scores.
The weights determine how much each indicator contributes to the overall score, but you aren’t required to adjust the weights.
The standard weights, already in the tool, will be different depending on whether you are a new exporter or already exporting. These are weights we already calibrated to generally provide what we believe to be optimal results for each exporter type.
We recommend you not adjust the weights unless you feel comfortable with the relationship among the indicators and the implications of changing the weights.
You can adjust the weights for each indicator individually in the white boxes. The totals must add up to 100%. The total is on the right.
For each indicator, a question mark you can hover over will show a tooltip with more information about the indicator.
You can reset the weights to the standard weights for new or current exporters using the buttons at the bottom.
Once you are done, make sure the total weight still equals 100%. The tool will give an error if it doesn’t. Then click “Go to Results.”
Results
Once you’ve clicked the “Go to Results” button, the tool will take you to either an error page or the “Results Overview” page.
It will go to an “Error” page if you have not selected any products or if the weights do not add up to 100 percent. Click on the “Back to Menu” button to return to the menus and adjust your selections.
You can navigate within the results using the buttons on the left side of the screen. Hovering over the buttons will show you what is covered on each page. The first button will return you to the menus so you can adjust your selections.
On the “Results Overview” page, you will find a table with your results. Markets will be listed in order of their scores, which are listed to the right of the country names. Click on any market to see the underlying data used in the calculations. Click on the country again to deselect it or select a different market.
Throughout the tool, you will see question mark icons next to visuals or menus. Hovering over any of these question marks will open tooltips that provide more information on the visuals.
The next page, using the buttons on the left, is the full “Results Table”. This table has all the data included in the calculations.
“Data for a Single Market” is the next page. Choose a market from the list on the left. Markets are listed in the order of their scores. The data for the selected market will be displayed in the visuals on the right.
You can move between different categories of data, starting with Trade, by clicking on the tabs at the top of the page below the blue header. Supplemental data not used in the score calculations is marked with asterisks (*).
The next page is “Compare Multiple Markets”. On this page, you can select up to five markets to compare from the list on the left. Again, the markets are listed in the order of their scores.
The remaining pages include information on the indicators, how they are calculated, and their sources. There’s also a page for suggested next steps and a page showing what data is available for each market and whether the market has sufficient data to be included in the results.
Get Help Understanding Your Results
You can export data from any visual, including the full data table. If you hover over the visual, or click on it, there will be some icons in the top right corner. Click on the ellipsis icon that says “More Options,” and click “Export Data.” You can export the data as an Excel format or, you can click “Summarized Data,” as a CSV file that can be used in any spreadsheet program.
You can export a print-formatted report of your results. To export the report, click the Export Report icon (it looks like a column chart) above the tool. Choose whether you would like to export your report as a PDF, PowerPoint, or series of PNG images. The report will generate and download. It may take several minutes.
This 19-page report includes:
- an outline of your selections and the selected weights
- the Results Overview and detailed results tables
- information on the various indicators
- data and visuals for the markets you select on the Data for a Single Market or Compare Multiple Markets pages
- data source citations and information from the Suggested Next Steps in the tool
