HS Icon Machines

XVI (Harmonized System 1992 for Section)

World Trade (2018): $4.77T, Rnk 1 / 21

Top Exporter (2018): $1.21T, China

Top Importer (2018): $720B, United States

Product Complexity (2018): 1.49, Rnk 1 / 21

Export Growth (CAGR)(2017 - 2018): 7.74%, Rnk 16 / 21

Mean Tariff (2018): 5.89%, Rnk 19 / 21

Share of World Trade (2018): 25.9%, Rnk 1 / 21

Overview:  This page contains the latest trade data of Machines. In 2018, Machines were the world's 1st most traded product, with a total trade of $4.77T. Between 2017 and 2018 the exports of Machines grew by 7.74%, from  $4.43T to $4.77T. Trade in Machines represent 25.9% of total world trade.

Exports: In 2018 the top exporters of Machines  were China ($1.21T), Germany ($430B), United States ($334B), South Korea ($265B), and Japan ($260B).

Imports: In 2018 the top importers of Machines were United States ($720B), China ($412B), Hong Kong ($398B), Germany ($309B), and Japan ($154B).

Tariffs: In 2018 the average tariff for Machines was 5.89%, been the 19 lowest tariff using the Section product classification.

The countries with the highest import tariffs for Machines are Bahamas (32.2%), Bermuda (24.1%), Maldives (20.3%), Iran (18%), and Cambodia (13.9%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), Norway (0%), and Japan (0.012%).

Ranking: Machines ranks 1st in the Product Complexity Index (PCI).

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2018): China, $1.21T

Top Destination (2018): United States, $720B

Machines are the world's 1st most traded product.

In 2018, the top exporters of Machines were China ($1.21T), Germany ($430B), United States ($334B), South Korea ($265B), and Japan ($260B).

In 2018, the top importers of Machines were United States ($720B), China ($412B), Hong Kong ($398B), Germany ($309B), and Japan ($154B).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $66.8B

Top Destination Growth (2017 - 2018): United States, $67.3B

Between 2017 and 2018, the exports of Machines grew the fastest in Germany ($66.8B), United States ($57.5B), China ($38.4B), Vietnam ($29.6B), and Netherlands ($25.8B).

Between 2017 and 2018, the fastest growing importers of Machines were United States ($67.3B), Mexico ($31.7B), Chinese Taipei ($24.9B), Netherlands ($24.3B), and Germany ($20B).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

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

In 2018,  market concentration measured using Shannon Entropy, was 4.43. This means that most of the exports of Machines are explained by 21 countries.

Explore Visualizations

TOP NET EXPORTER (2018): China, $800B

TOP NET IMPORTER (2018): United States, $387B

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 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Machines were China ($800B), South Korea ($138B), Germany ($121B), Chinese Taipei ($116B), and Japan ($106B).

In 2018, the countries that had a largest trade value in imports than in exports of Machines were United States ($387B), Hong Kong ($344B), India ($62.8B), Russia ($52.8B), and Australia ($46.5B).

Trade Forecasts

#permalink to section

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

Explore Forecasts

Import Tariffs

#permalink to section

In 2018, the average tariff for importing Machines was 5.89%.  The countries with the highest tariffs for importing Machines were Bahamas (32.2%), Bermuda (24.1%), Maldives (20.3%), Iran (18%), and Cambodia (13.9%).

Explore Tariff Data

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
Filter

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.