HS Icon Electromagnets

Electro-magnets; permanent magnets, intended permanent magnets; electro-magnetic, permanent magnet chucks, clamps, similar; electromagnetic couplings, clutches, brakes; electro-magnetic lifting heads

8505 (Harmonized System 1992 for 4-digit)

Overview This page contains the latest trade data of Electromagnets. In 2021, Electromagnets were the world's 322nd most traded product, with a total trade of $11.3B. Between 2020 and 2021 the exports of Electromagnets grew by 32.8%, from $8.54B to $11.3B. Trade in Electromagnets represent 0.00054% of total world trade.

Electromagnets are a part of Electrical machinery and electronics. They include Metal permanent magnets, articles intended as magnets, Electro-magnets nes and parts of magnetic devices, Permanent magnets & articles intended as magnets, nes, Electro-magnetic couplings, clutches and brakes, and Electro-magnetic lifting heads.

Exports In 2021 the top exporters of Electromagnets  were China ($4.78B), Germany ($1.26B), Japan ($1.2B), Philippines ($489M), and United States ($393M).

Imports In 2021 the top importers of Electromagnets were United States ($1.33B), Germany ($1.29B), China ($815M), Japan ($766M), and Philippines ($547M).

Tariffs In 2018 the average tariff for Electromagnets was 6.7%, making it the 641st lowest tariff using the HS4 product classification.

Ranking Electromagnets ranks 167th in the Product Complexity Index (PCI).

Description Electromagnets are used to attract or repel magnetic materials. They can be made from a variety of materials, including iron, steel, nickel, cobalt and neodymium. Permanent magnets are used in the production of electric motors and generators. They can be made from a variety of materials, including ferrite, samarium-cobalt, and neodymium-iron-boron.

View
Flow
Y-AXIS SCALE

The following visualization shows the latest trends on Electromagnets. Countries are shown based on data availability.

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

* Using January 2020 exchange rates when trade data is reported in local currency.

Explore Latest Trends

Historical Data

#permalink to section

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2021): China, $4.78B

Top Destination (2021): United States, $1.33B

Electromagnets are the world's 322nd most traded product.

In 2021, the top exporters of Electromagnets were China ($4.78B), Germany ($1.26B), Japan ($1.2B), Philippines ($489M), and United States ($393M).

In 2021, the top importers of Electromagnets were United States ($1.33B), Germany ($1.29B), China ($815M), Japan ($766M), and Philippines ($547M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Color

Top Origin Growth (2020 -  2021): China, $1.65B

Top Destination Growth (2020 -  2021): United States, $417M

Between 2020 and 2021, the exports of Electromagnets grew the fastest in China ($1.65B), Germany ($188M), Vietnam ($152M), Philippines ($125M), and Japan ($121M).

Between 2020 and 2021, the fastest growing importers of Electromagnets were United States ($417M), Germany ($294M), Japan ($250M), Philippines ($210M), and South Korea ($171M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

Value

This chart shows the evolution of the market concentration of exports of Electromagnets.

In 2021, market concentration measured using Shannon Entropy, was 3.46. This means that most of the exports of Electromagnets are explained by 10 countries.

Explore Visualizations

TOP NET EXPORTER (2021): China, $3.96B

TOP NET IMPORTER (2021): United States, $940M

This map shows which countries export or import more of Electromagnets. Each country is colored based on the difference in exports and imports of Electromagnets during 2021.

In 2021, the countries that had a largest trade value in exports than in imports of Electromagnets were China ($3.96B), Japan ($434M), New Zealand ($81.3M), Ireland ($8.71M), and Luxembourg ($6.29M).

In 2021, the countries that had a largest trade value in imports than in exports of Electromagnets were United States ($940M), Mexico ($335M), Thailand ($281M), Hong Kong ($240M), and Vietnam ($224M).

Disaggregation

#permalink to section
Value

In 2021, the world most traded Electromagnets, disaggragated by their HS6 level were Metal permanent magnets, articles intended as... ($5.41B), Electro-magnets nes and parts of magnetic... ($3.31B), Permanent magnets & articles intended as... ($1.61B), and Electro-magnetic couplings, clutches and brakes ($1.01B)

Country Comparison

#permalink to section
Flow
Measure
Ranking

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

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
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.

Country by Relatedness

#permalink to section

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