HS Icon Parts of steam and vapour turbines

840690 (Harmonized System 1992 for 6-digit)

World Trade (2018): $3.33B, Rnk 909 / 4726

Top Exporter (2018): $537M, Japan

Top Importer (2018): $274M, United States

Product Complexity (2018): 1.3, Rnk 388 / 4873

Export Growth (CAGR)(2017 - 2018): 18.1%, Rnk 1550 / 4726

Mean Tariff (2018): 3.4%, Rnk 5469 / 6538

Share of World Trade (2018): 0.018%, Rnk 909 / 4726

Overview: In 2018, Parts of steam and vapour turbines were the world's 909th most traded product, with a total trade of $3.33B. Between 2017 and 2018 the exports of Parts of steam and vapour turbines grew by 18.1%, from  $2.82B to $3.33B. Trade in Parts of steam and vapour turbines represent 0.018% of total world trade.

Exports: In 2018 the top exporters of Parts of steam and vapour turbines  were Japan ($537M), China ($487M), Germany ($417M), Italy ($220M), and United States ($198M).

Imports: In 2018 the top importers of Parts of steam and vapour turbines were United States ($274M), Indonesia ($262M), Germany ($175M), China ($141M), and India ($125M).

Tariffs: In 2018 the average tariff for Parts of steam and vapour turbines was 3.4%, been the 5469 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Parts of steam and vapour turbines are Bahamas (40.2%), 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: Parts of steam and vapour turbines ranks 388th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Japan, $537M

Top Destination (2018): United States, $274M

Parts of steam and vapour turbines are the world's 909th most traded product.

In 2018, the top exporters of Parts of steam and vapour turbines were Japan ($537M), China ($487M), Germany ($417M), Italy ($220M), and United States ($198M).

In 2018, the top importers of Parts of steam and vapour turbines were United States ($274M), Indonesia ($262M), Germany ($175M), China ($141M), and India ($125M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $107M

Top Destination Growth (2017 - 2018): United States, $271M

Between 2017 and 2018, the exports of Parts of steam and vapour turbines grew the fastest in Germany ($107M), China ($97.2M), Italy ($80.1M), India ($78.7M), and United Arab Emirates ($70.7M).

Between 2017 and 2018, the fastest growing importers of Parts of steam and vapour turbines were United States ($271M), Indonesia ($150M), Bangladesh ($90.5M), Iran ($82.4M), and Pakistan ($75.8M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Parts of steam and vapour turbines.

In 2018,  market concentration measured using Shannon Entropy, was 4.2. This means that most of the exports of Parts of steam and vapour turbines are explained by 18 countries.

TOP NET EXPORTER (2018): Japan, $425M

TOP NET IMPORTER (2018): Indonesia, $246M

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

In 2018, the countries that had a largest trade value in exports than imports of Parts of steam and vapour turbines were Japan ($425M), China ($346M), Germany ($242M), Italy ($183M), and Czechia ($96.8M).

In 2018, the countries that had a largest trade value in imports than exports of Parts of steam and vapour turbines were Indonesia ($246M), Pakistan ($121M), Bangladesh ($120M), Iran ($107M), and United States ($76.7M).

Trade Forecasts

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This section shows forecasts for total trade for Parts of steam and vapour 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 Parts of steam and vapour turbines was 3.4%.  The countries with the highest tariffs for importing Parts of steam and vapour turbines were Bahamas (40.2%), 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.