HS Icon Steam Turbines

8406 (Harmonized System 1992 for 4-digit)

World Trade (2018): $5.09B, Rnk 496 / 1225

Top Exporter (2018): $886M, Japan

Top Importer (2018): $509M, Indonesia

Product Complexity (2018): 1.36, Rnk 71 / 1018

Export Growth (CAGR)(2017 - 2018): 15.3%, Rnk 500 / 1225

Mean Tariff (2018): 4.38%, Rnk 929 / 1259

Share of World Trade (2018): 0.028%, Rnk 496 / 1225

Overview:  This page contains the latest trade data of Steam Turbines. In 2018, Steam Turbines were the world's 496th most traded product, with a total trade of $5.09B. Between 2017 and 2018 the exports of Steam Turbines grew by 15.3%, from  $4.41B to $5.09B. Trade in Steam Turbines represent 0.028% of total world trade.

Exports: In 2018 the top exporters of Steam Turbines  were Japan ($886M), China ($829M), Germany ($708M), Italy ($257M), and United States ($251M).

Imports: In 2018 the top importers of Steam Turbines were Indonesia ($509M), United States ($330M), Bolivia ($322M), India ($297M), and China ($219M).

Tariffs: In 2018 the average tariff for Steam Turbines was 4.38%, been the 929 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Steam Turbines are Bahamas (31.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Aruba (12%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Steam Turbines ranks 71st in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Japan, $886M

Top Destination (2018): Indonesia, $509M

Steam Turbines are the world's 496th most traded product.

In 2018, the top exporters of Steam Turbines were Japan ($886M), China ($829M), Germany ($708M), Italy ($257M), and United States ($251M).

In 2018, the top importers of Steam Turbines were Indonesia ($509M), United States ($330M), Bolivia ($322M), India ($297M), and China ($219M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $214M

Top Destination Growth (2017 - 2018): United States, $310M

Between 2017 and 2018, the exports of Steam Turbines grew the fastest in Germany ($214M), Russia ($165M), India ($149M), China ($110M), and Italy ($74.4M).

Between 2017 and 2018, the fastest growing importers of Steam Turbines were United States ($310M), Indonesia ($266M), Bolivia ($260M), India ($176M), and Bangladesh ($123M).

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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 Steam Turbines.

In 2018,  market concentration measured using Shannon Entropy, was 4.13. This means that most of the exports of Steam Turbines are explained by 17 countries.

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TOP NET EXPORTER (2018): Japan, $757M

TOP NET IMPORTER (2018): Indonesia, $490M

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

In 2018, the countries that had a largest trade value in exports than in imports of Steam Turbines were Japan ($757M), China ($610M), Germany ($514M), Italy ($202M), and Russia ($182M).

In 2018, the countries that had a largest trade value in imports than in exports of Steam Turbines were Indonesia ($490M), Bolivia ($322M), Pakistan ($159M), Iran ($158M), and Bangladesh ($154M).

Trade Forecasts

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This section shows forecasts for total trade for Steam Turbines. 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 Steam Turbines was 4.38%.  The countries with the highest tariffs for importing Steam Turbines were Bahamas (31.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Aruba (12%).

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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.