HS Icon Parts for spark-ignition engines except aircraft

840991 (Harmonized System 1992 for 6-digit)

World Trade (2018): $33.4B, Rnk 70 / 4726

Top Exporter (2018): $5.83B, Germany

Top Importer (2018): $7.02B, United States

Product Complexity (2018): 1.04, Rnk 697 / 4873

Export Growth (CAGR)(2017 - 2018): 4.43%, Rnk 3392 / 4726

Mean Tariff (2018): 6.04%, Rnk 3566 / 6538

Share of World Trade (2018): 0.18%, Rnk 70 / 4726

Overview: In 2018, Parts for spark-ignition engines except aircraft were the world's 70th most traded product, with a total trade of $33.4B. Between 2017 and 2018 the exports of Parts for spark-ignition engines except aircraft grew by 4.43%, from  $31.9B to $33.4B. Trade in Parts for spark-ignition engines except aircraft represent 0.18% of total world trade.

Exports: In 2018 the top exporters of Parts for spark-ignition engines except aircraft  were Germany ($5.83B), Japan ($4.72B), United States ($3.93B), China ($3.21B), and Mexico ($3.13B).

Imports: In 2018 the top importers of Parts for spark-ignition engines except aircraft were United States ($7.02B), Germany ($2.94B), China ($2.76B), Mexico ($2.68B), and United Kingdom ($1.71B).

Tariffs: In 2018 the average tariff for Parts for spark-ignition engines except aircraft was 6.04%, been the 3566 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Parts for spark-ignition engines except aircraft are Maldives (41.5%), Bermuda (35%), Pakistan (27%), Tunisia (20%), and Cameroon (19.6%). The countries with the lowest tariffs are Angola (0%), Ghana (0%), Mauritius (0%), Hong Kong (0%), and Japan (0%).

Ranking: Parts for spark-ignition engines except aircraft ranks 697th in the Product Complexity Index (PCI).

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2018): Germany, $5.83B

Top Destination (2018): United States, $7.02B

Parts for spark-ignition engines except aircraft are the world's 70th most traded product.

In 2018, the top exporters of Parts for spark-ignition engines except aircraft were Germany ($5.83B), Japan ($4.72B), United States ($3.93B), China ($3.21B), and Mexico ($3.13B).

In 2018, the top importers of Parts for spark-ignition engines except aircraft were United States ($7.02B), Germany ($2.94B), China ($2.76B), Mexico ($2.68B), and United Kingdom ($1.71B).

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2017 -  2018): China, $687M

Top Destination Growth (2017 - 2018): United States, $388M

Between 2017 and 2018, the exports of Parts for spark-ignition engines except aircraft grew the fastest in China ($687M), Japan ($375M), Poland ($184M), Thailand ($171M), and Italy ($107M).

Between 2017 and 2018, the fastest growing importers of Parts for spark-ignition engines except aircraft were United States ($388M), China ($287M), Spain ($195M), Brazil ($152M), and Canada ($150M).

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Parts for spark-ignition engines except aircraft.

In 2018,  market concentration measured using Shannon Entropy, was 4.11. This means that most of the exports of Parts for spark-ignition engines except aircraft are explained by 17 countries.

TOP NET EXPORTER (2018): Japan, $3.77B

TOP NET IMPORTER (2018): United States, $3.09B

This map shows which countries export or import more of Parts for spark-ignition engines except aircraft. Each country is colored based on the difference in exports and imports of Parts for spark-ignition engines except aircraft during 2018.

In 2018, the countries that had a largest trade value in exports than imports of Parts for spark-ignition engines except aircraft were Japan ($3.77B), Germany ($2.89B), South Korea ($888M), Poland ($577M), and China ($456M).

In 2018, the countries that had a largest trade value in imports than exports of Parts for spark-ignition engines except aircraft were United States ($3.09B), United Kingdom ($1.16B), Canada ($818M), Austria ($554M), and Hungary ($535M).

Trade Forecasts

#permalink to section

This section shows forecasts for total trade for Parts for spark-ignition engines except aircraft. 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 Parts for spark-ignition engines except aircraft was 6.04%.  The countries with the highest tariffs for importing Parts for spark-ignition engines except aircraft were Maldives (41.5%), Bermuda (35%), Pakistan (27%), Tunisia (20%), and Cameroon (19.6%).

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.