HS Icon Engine Parts

8409 (Harmonized System 1992 for 4-digit)

World Trade (2018): $69.9B, Rnk 37 / 1225

Top Exporter (2018): $14.2B, Germany

Top Importer (2018): $12B, United States

Product Complexity (2018): 1.04, Rnk 163 / 1018

Export Growth (CAGR)(2017 - 2018): 8.31%, Rnk 850 / 1225

Mean Tariff (2018): 4.75%, Rnk 865 / 1259

Share of World Trade (2018): 0.38%, Rnk 37 / 1225

Overview: In 2018, Engine Parts were the world's 37th most traded product, with a total trade of $69.9B. Between 2017 and 2018 the exports of Engine Parts grew by 8.31%, from  $64.5B to $69.9B. Trade in Engine Parts represent 0.38% of total world trade.

Exports: In 2018 the top exporters of Engine Parts  were Germany ($14.2B), Japan ($6.91B), United States ($6.64B), China ($5.72B), and Mexico ($4.45B).

Imports: In 2018 the top importers of Engine Parts were United States ($12B), Germany ($6.91B), China ($4.18B), United Kingdom ($3.68B), and Mexico ($3.61B).

Tariffs: In 2018 the average tariff for Engine Parts was 4.75%, been the 865 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Engine Parts are Maldives (37.6%), Bermuda (35%), Pakistan (24.9%), Jordan (15.6%), and Zambia (13.6%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Sri Lanka (0%).

Ranking: Engine Parts ranks 163rd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $14.2B

Top Destination (2018): United States, $12B

Engine Parts are the world's 37th most traded product.

In 2018, the top exporters of Engine Parts were Germany ($14.2B), Japan ($6.91B), United States ($6.64B), China ($5.72B), and Mexico ($4.45B).

In 2018, the top importers of Engine Parts were United States ($12B), Germany ($6.91B), China ($4.18B), United Kingdom ($3.68B), and Mexico ($3.61B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $1.05B

Top Destination Growth (2017 - 2018): United States, $2.08B

Between 2017 and 2018, the exports of Engine Parts grew the fastest in China ($1.05B), Germany ($669M), Thailand ($545M), South Korea ($432M), and Mexico ($413M).

Between 2017 and 2018, the fastest growing importers of Engine Parts were United States ($2.08B), China ($480M), Spain ($372M), Germany ($367M), and India ($366M).

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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 Engine Parts.

In 2018,  market concentration measured using Shannon Entropy, was 4.4. This means that most of the exports of Engine Parts are explained by 21 countries.

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TOP NET EXPORTER (2018): Germany, $7.25B

TOP NET IMPORTER (2018): United States, $5.34B

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

In 2018, the countries that had a largest trade value in exports than in imports of Engine Parts were Germany ($7.25B), Japan ($5.01B), South Korea ($1.63B), China ($1.54B), and Mexico ($849M).

In 2018, the countries that had a largest trade value in imports than in exports of Engine Parts were United States ($5.34B), United Kingdom ($1.82B), Canada ($1.07B), Hungary ($856M), and Austria ($848M).

Trade Forecasts

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This section shows forecasts for total trade for Engine 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 Engine Parts was 4.75%.  The countries with the highest tariffs for importing Engine Parts were Maldives (37.6%), Bermuda (35%), Pakistan (24.9%), Jordan (15.6%), and Zambia (13.6%).

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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.