Machinery Having Individual Functions8479 (Harmonized System 1992 for 4-digit)
2020 World Trade: $124B, Rnk 17 / 1217
2020 Top Exporter | Top Importer: $19.9B | $24.2B, Japan | China
2020 Product Complexity: 1.93, Rnk 10 / 1028
2019 - 2020 Export Growth (CAGR): -1.01%, Rnk 376 / 1217
2018 Mean Tariff: 3.82%, Rnk 1046 / 1259
2020 Share of World Trade: 0.74%, Rnk 17 / 1217
Overview This page contains the latest trade data of Machinery Having Individual Functions. In 2020, Machinery Having Individual Functions were the world's 17th most traded product, with a total trade of $124B. Between 2019 and 2020 the exports of Machinery Having Individual Functions decreased by -1.01%, from $125B to $124B. Trade in Machinery Having Individual Functions represent 0.74% of total world trade.
Machinery Having Individual Functions are a part of Machinery, mechanical appliances, & parts. They include Machines and mechanical appliances nes, Parts of machines and mechanical appliances nes, Machines to mix, knead, crush, grind, etc, nes, Machines for public works, building etc, nes, Metal treating machines, electric wire coil-winders, Presses for particle, fibre board, etc manufacture, Rope or cable-making machines, and Machines to process animal or fixed veg fats or oils.
Exports In 2020 the top exporters of Machinery Having Individual Functions were Japan ($19.9B), Germany ($18B), United States ($13.4B), China ($12.6B), and South Korea ($11.4B).
Imports In 2020 the top importers of Machinery Having Individual Functions were China ($24.2B), United States ($14.6B), South Korea ($7.07B), Chinese Taipei ($6.91B), and Germany ($6.21B).
Tariffs In 2018 the average tariff for Machinery Having Individual Functions was 3.82%, making it the 1046th lowest tariff using the HS4 product classification.
Ranking Machinery Having Individual Functions ranks 10th in the Product Complexity Index (PCI).
Description Machines and mechanical appliances having individual functions are used in the production of other goods. They can be made from a variety of materials, including steel, aluminum, plastic, and wood.
The following visualization shows the latest trends on Machinery Having Individual Functions. 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.
Trade By Country
Machinery Having Individual Functions are the world's 17th most traded product.
In 2020, the top exporters of Machinery Having Individual Functions were Japan ($19.9B), Germany ($18B), United States ($13.4B), China ($12.6B), and South Korea ($11.4B).
In 2020, the top importers of Machinery Having Individual Functions were China ($24.2B), United States ($14.6B), South Korea ($7.07B), Chinese Taipei ($6.91B), and Germany ($6.21B).
Trade by country
Top Origin Growth (2019 - 2020): Singapore, $852M
Top Destination Growth (2019 - 2020): South Korea, $1.17B
Between 2019 and 2020, the exports of Machinery Having Individual Functions grew the fastest in Singapore ($852M), China ($790M), Malaysia ($301M), Mexico ($244M), and Chinese Taipei ($176M).
Between 2019 and 2020, the fastest growing importers of Machinery Having Individual Functions were South Korea ($1.17B), Singapore ($582M), United States ($341M), Netherlands ($340M), and China ($304M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Machinery Having Individual Functions.
In 2020, market concentration measured using Shannon Entropy, was 4.19. This means that most of the exports of Machinery Having Individual Functions are explained by 18 countries.
This map shows which countries export or import more of Machinery Having Individual Functions. Each country is colored based on the difference in exports and imports of Machinery Having Individual Functions during 2020.
In 2020, the countries that had a largest trade value in exports than in imports of Machinery Having Individual Functions were Japan ($15.4B), Germany ($11.8B), South Korea ($4.3B), Italy ($3.36B), and Switzerland ($1.4B).
In 2020, the countries that had a largest trade value in imports than in exports of Machinery Having Individual Functions were China ($11.6B), Chinese Taipei ($3.33B), Vietnam ($2.18B), Russia ($1.8B), and Hong Kong ($1.65B).
In 2020, the world most traded Machinery Having Individual Functions, disaggragated by their HS6 level were Machines and mechanical appliances nes ($67.5B), Parts of machines and mechanical appliances... ($44.9B), Machines to mix, knead, crush, grind,... ($5.08B), Machines for public works, building etc,... ($2.56B), and Metal treating machines, electric wire coil-winders ($1.73B)
This visualization shows the countries that have an important ratio of their trade related to Machinery Having Individual Functions. It is possible to select the main countries that export or import Machinery Having Individual Functions in the world, or by continent, as well as select the measure of interest.
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.
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