HS Icon Gas Turbines

8411 (Harmonized System 1992 for 4-digit)

World Trade (2018): $143B, Rnk 15 / 1225

Top Exporter (2018): $23.8B, United States

Top Importer (2018): $32.9B, United States

Product Complexity (2018): 0.26, Rnk 452 / 1018

Export Growth (CAGR)(2017 - 2018): 38.4%, Rnk 110 / 1225

Mean Tariff (2018): 2.85%, Rnk 1155 / 1259

Share of World Trade (2018): 0.78%, Rnk 15 / 1225

Overview:  This page contains the latest trade data of Gas Turbines. In 2018, Gas Turbines were the world's 15th most traded product, with a total trade of $143B. Between 2017 and 2018 the exports of Gas Turbines grew by 38.4%, from  $103B to $143B. Trade in Gas Turbines represent 0.78% of total world trade.

Exports: In 2018 the top exporters of Gas Turbines  were United States ($23.8B), United Kingdom ($23.5B), France ($14.4B), Germany ($12.1B), and Singapore ($7.96B).

Imports: In 2018 the top importers of Gas Turbines were United States ($32.9B), United Kingdom ($7.95B), Germany ($7.93B), China ($7.13B), and Singapore ($6.78B).

Tariffs: In 2018 the average tariff for Gas Turbines was 2.85%, been the 1155 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Gas Turbines are Bermuda (25%), Maldives (19.6%), Cambodia (15%), Bahamas (14.2%), and Aruba (12%). The countries with the lowest tariffs are Angola (0%), Ethiopia (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Gas Turbines ranks 452nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $23.8B

Top Destination (2018): United States, $32.9B

Gas Turbines are the world's 15th most traded product.

In 2018, the top exporters of Gas Turbines were United States ($23.8B), United Kingdom ($23.5B), France ($14.4B), Germany ($12.1B), and Singapore ($7.96B).

In 2018, the top importers of Gas Turbines were United States ($32.9B), United Kingdom ($7.95B), Germany ($7.93B), China ($7.13B), and Singapore ($6.78B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United Kingdom, $8.87B

Top Destination Growth (2017 - 2018): United States, $25.6B

Between 2017 and 2018, the exports of Gas Turbines grew the fastest in United Kingdom ($8.87B), France ($5.46B), Singapore ($5.29B), Germany ($3.86B), and Japan ($2.96B).

Between 2017 and 2018, the fastest growing importers of Gas Turbines were United States ($25.6B), Singapore ($5.94B), Chinese Taipei ($2.41B), India ($1.5B), and Canada ($1.09B).

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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 Gas Turbines.

In 2018,  market concentration measured using Shannon Entropy, was 4.24. This means that most of the exports of Gas Turbines are explained by 18 countries.

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TOP NET EXPORTER (2018): United Kingdom, $15.5B

TOP NET IMPORTER (2018): United States, $9.16B

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

In 2018, the countries that had a largest trade value in exports than in imports of Gas Turbines were United Kingdom ($15.5B), France ($8.25B), Germany ($4.17B), Canada ($3.99B), and Brazil ($2.13B).

In 2018, the countries that had a largest trade value in imports than in exports of Gas Turbines were United States ($9.16B), United Arab Emirates ($4.32B), China ($2.87B), Hong Kong ($2.64B), and South Korea ($1.95B).

Trade Forecasts

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This section shows forecasts for total trade for Gas 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 Gas Turbines was 2.85%.  The countries with the highest tariffs for importing Gas Turbines were Bermuda (25%), Maldives (19.6%), Cambodia (15%), Bahamas (14.2%), 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.