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Electric motors and generators; parts suitable for use solely or principally with the machines of heading no. 8501 or 8502

8503 (Harmonized System 1992 for 4-digit)

2023
World Trade $24.7BRnk 180 / 1217
2023
Top Exporter | Top Importer $6.05B | $4.04BChina | Germany
2023
Product Complexity 0.85Rnk 235 / 1044
2022 - 2023
Export Growth (CAGR) -0.13%Rnk 412 / 1217
2023
Share of World Trade 0.11%Rnk 180 / 1217

About

Overview This page contains the latest trade data of Electric Motor Parts. In 2023, Electric Motor Parts were the world's 180th most traded product, with a total trade of $24.7B. Between 2022 and 2023 the exports of Electric Motor Parts decreased by -0.13%, from $24.7B to $24.7B. Trade in Electric Motor Parts represent 0.11% of total world trade.

Electric Motor Parts are a part of Electrical machinery and electronics. They include Parts for electric motors and generators.

Exports In 2023 the top exporters of Electric Motor Parts  were China ($6.05B), Germany ($2.67B), Japan ($1.75B), United States ($1.49B), and Italy ($1.25B).

Imports In 2023 the top importers of Electric Motor Parts were Germany ($4.04B), United States ($3.28B), France ($1.37B), Mexico ($1.36B), and Italy ($960M).

Ranking Electric Motor Parts ranks 235th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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The following visualization shows the latest trends on Electric Motor Parts. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)China$6.05B
Top Destination (2023)Germany$4.04B

In 2023 Electric Motor Parts were the world's 180th most traded product (out of 1,217).

In 2023, the top exporters of Electric Motor Parts were China ($6.05B), Germany ($2.67B), Japan ($1.75B), United States ($1.49B), and Italy ($1.25B).

In 2023, the top importers of Electric Motor Parts were Germany ($4.04B), United States ($3.28B), France ($1.37B), Mexico ($1.36B), and Italy ($960M).

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Exporters of Electric Motor Parts (2023)
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Importers of Electric Motor Parts (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)United States$261M
Top Destination Growth (2022 -  2023)Germany$431M

Between 2022 and 2023, the exports of Electric Motor Parts grew the fastest in United States ($261M), Czechia ($198M), Germany ($165M), Denmark ($151M), and Poland ($148M).

Between 2022 and 2023, the fastest growing importers of Electric Motor Parts were Germany ($431M), Sweden ($174M), Argentina ($156M), Vietnam ($142M), and Ireland ($135M).

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Exporters of Electric Motor Parts (2022 - 2023)

Importers of Electric Motor Parts (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Electric Motor Parts.

In 2023, market concentration measured using Shannon Entropy, was 4.4. This means that most of the exports of Electric Motor Parts are explained by 21 countries.

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Value of Exports in Electric Motor Parts

Net Trade

TOP NET EXPORTER (2023)China$5.23B
TOP NET IMPORTER (2023)United States$1.79B

This map shows which countries export or import more of Electric Motor Parts. Each country is colored based on the difference in exports and imports of Electric Motor Parts during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Electric Motor Parts were China ($5.23B), Japan ($1.03B), Turkey ($352M), Italy ($294M), and Slovenia ($265M).

In 2023, the countries that had a largest trade value in imports than in exports of Electric Motor Parts were United States ($1.79B), Germany ($1.37B), France ($796M), Mexico ($587M), and Vietnam ($369M).

Net Trade (2023)

Country Comparison

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Measure
Ranking

This visualization shows the countries that have an important ratio of their trade related to Electric Motor Parts.
It is possible to select the main countries that export or import Electric Motor Parts in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Electric Motor Parts by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALIndia+ $191M
TOP IMPORT POTENTIALIndia+ $40.8M

Electric Motor Parts’s highest export potential is India. With an export gap of $191M.  Electric Motor Parts’s highest import potential is India with an import gap of $40.8M.

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Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2023)

Related Products

This visualization shows products that are likely to be exported by countries that export Electric Motor Parts.

Country by Relatedness

The following visualization shows the relatedness of Electric Motor Parts to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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