HS Icon Interchangeable Tool Parts

8207 (Harmonized System 1992 for 4-digit)

World Trade (2018): $24B, Rnk 160 / 1225

Top Exporter (2018): $4.52B, Germany

Top Importer (2018): $3.42B, United States

Product Complexity (2018): 1.44, Rnk 58 / 1018

Export Growth (CAGR)(2017 - 2018): 42.6%, Rnk 93 / 1225

Mean Tariff (2018): 6.43%, Rnk 658 / 1259

Share of World Trade (2018): 0.13%, Rnk 160 / 1225

Overview:  This page contains the latest trade data of Interchangeable Tool Parts. In 2018, Interchangeable Tool Parts were the world's 160th most traded product, with a total trade of $24B. Between 2017 and 2018 the exports of Interchangeable Tool Parts grew by 42.6%, from  $16.8B to $24B. Trade in Interchangeable Tool Parts represent 0.13% of total world trade.

Exports: In 2018 the top exporters of Interchangeable Tool Parts  were Germany ($4.52B), China ($3.91B), Japan ($2.41B), United States ($1.74B), and South Korea ($1.67B).

Imports: In 2018 the top importers of Interchangeable Tool Parts were United States ($3.42B), Germany ($2.53B), China ($1.56B), Mexico ($1.34B), and France ($784M).

Tariffs: In 2018 the average tariff for Interchangeable Tool Parts was 6.43%, been the 658 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Interchangeable Tool Parts are Bermuda (25%), Bahamas (22.3%), Sudan (21.9%), Ethiopia (19.8%), and Romania (18.8%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Indonesia (0%), and Japan (0%).

Ranking: Interchangeable Tool Parts ranks 58th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $4.52B

Top Destination (2018): United States, $3.42B

Interchangeable Tool Parts are the world's 160th most traded product.

In 2018, the top exporters of Interchangeable Tool Parts were Germany ($4.52B), China ($3.91B), Japan ($2.41B), United States ($1.74B), and South Korea ($1.67B).

In 2018, the top importers of Interchangeable Tool Parts were United States ($3.42B), Germany ($2.53B), China ($1.56B), Mexico ($1.34B), and France ($784M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $1.33B

Top Destination Growth (2017 - 2018): United States, $2.74B

Between 2017 and 2018, the exports of Interchangeable Tool Parts grew the fastest in China ($1.33B), Germany ($1B), United States ($812M), Japan ($698M), and South Korea ($452M).

Between 2017 and 2018, the fastest growing importers of Interchangeable Tool Parts were United States ($2.74B), Mexico ($1.14B), Germany ($322M), Australia ($244M), and Hong Kong ($190M).

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Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Interchangeable Tool Parts.

In 2018,  market concentration measured using Shannon Entropy, was 4.3. This means that most of the exports of Interchangeable Tool Parts are explained by 19 countries.

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TOP NET EXPORTER (2018): China, $2.35B

TOP NET IMPORTER (2018): United States, $1.68B

This map shows which countries export or import more of Interchangeable Tool Parts. Each country is colored based on the difference in exports and imports of Interchangeable Tool Parts during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Interchangeable Tool Parts were China ($2.35B), Germany ($1.99B), Japan ($1.71B), South Korea ($1.3B), and Italy ($534M).

In 2018, the countries that had a largest trade value in imports than in exports of Interchangeable Tool Parts were United States ($1.68B), Mexico ($1.13B), Russia ($411M), Poland ($316M), and United Kingdom ($259M).

Trade Forecasts

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This section shows forecasts for total trade for Interchangeable Tool Parts. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Import Tariffs

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In 2018, the average tariff for importing Interchangeable Tool Parts was 6.43%.  The countries with the highest tariffs for importing Interchangeable Tool Parts were Bermuda (25%), Bahamas (22.3%), Sudan (21.9%), Ethiopia (19.8%), and Romania (18.8%).

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Product Complexity

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Diversification Frontier

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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.