Overview: 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).