MachinesXVI (Harmonized System 1992 for Section)
2020 World Trade: $4.61T, Rnk 1 / 21
2020 Top Exporter | Top Importer: $1.26T | $691B, China | United States
2020 Product Complexity: 1.59, Rnk 1 / 21
2019 - 2020 Export Growth (CAGR): -1.46%, Rnk 6 / 21
2018 Mean Tariff: 5.89%, Rnk 19 / 21
2020 Share of World Trade: 27.5%, Rnk 1 / 21
Overview This page contains the latest trade data of Machines. In 2020, Machines were the world's 1st most traded product, with a total trade of $4.61T. Between 2019 and 2020 the exports of Machines decreased by -1.46%, from $4.68T to $4.61T. Trade in Machines represent 27.5% of total world trade.
Machines include Integrated Circuits, Computers, Broadcasting Equipment, Office Machine Parts, Telephones, Gas Turbines, Insulated Wire, Machinery Having Individual Functions, Semiconductor Devices, and Low-voltage Protection Equipment, among others.
Exports In 2020 the top exporters of Machines were China ($1.26T), Germany ($376B), United States ($333B), Chinese Taipei ($243B), and South Korea ($236B).
Imports In 2020 the top importers of Machines were United States ($691B), China ($402B), Hong Kong ($374B), Germany ($292B), and Mexico ($154B).
Tariffs In 2018 the average tariff for Machines was 5.89%, making it the 19th lowest tariff using the Section product classification.
Ranking Machines ranks 1st in the Product Complexity Index (PCI).
The following visualization shows the latest trends on Machines. 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
Top Origin (2020): China, $1.26T
Top Destination (2020): United States, $691B
Machines are the world's 1st most traded product.
In 2020, the top exporters of Machines were China ($1.26T), Germany ($376B), United States ($333B), Chinese Taipei ($243B), and South Korea ($236B).
In 2020, the top importers of Machines were United States ($691B), China ($402B), Hong Kong ($374B), Germany ($292B), and Mexico ($154B).
Trade by country
Between 2019 and 2020, the exports of Machines grew the fastest in China ($51B), Chinese Taipei ($31.9B), Vietnam ($18.3B), Singapore ($5.3B), and South Korea ($5.27B).
Between 2019 and 2020, the fastest growing importers of Machines were China ($33.6B), Vietnam ($15.4B), Hong Kong ($14B), Chinese Taipei ($12.1B), and Singapore ($6.44B).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Machines.
In 2020, market concentration measured using Shannon Entropy, was 4.37. This means that most of the exports of Machines are explained by 20 countries.
TOP NET EXPORTER (2020): China, $854B
TOP NET IMPORTER (2020): United States, $358B
This map shows which countries export or import more of Machines. Each country is colored based on the difference in exports and imports of Machines during 2020.
In 2020, the countries that had a largest trade value in exports than in imports of Machines were China ($854B), Chinese Taipei ($140B), South Korea ($106B), Germany ($84.1B), and Japan ($72.3B).
In 2020, the countries that had a largest trade value in imports than in exports of Machines were United States ($358B), Hong Kong ($327B), Canada ($57.6B), Russia ($55.9B), and Australia ($45.7B).
In 2020, the world most traded Machines, disaggragated by their HS6 level were Integrated Circuits ($669B), Broadcasting Equipment ($429B), Computers ($303B), Office Machine Parts ($238B), and Gas Turbines ($127B)
This visualization shows the countries that have an important ratio of their trade related to Machines. It is possible to select the main countries that export or import Machines 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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