HS Icon Parts of turbo-jet or turbo-propeller engines

841191 (Harmonized System 1992 for 6-digit)

World Trade (2018): $52.8B, Rnk 40 / 4726

Top Exporter (2018): $8.86B, United Kingdom

Top Importer (2018): $17.6B, United States

Product Complexity (2018): 1.41, Rnk 279 / 4873

Export Growth (CAGR)(2017 - 2018): 58.5%, Rnk 253 / 4726

Mean Tariff (2018): 2.31%, Rnk 6073 / 6538

Share of World Trade (2018): 0.29%, Rnk 40 / 4726

Overview: In 2018, Parts of turbo-jet or turbo-propeller engines were the world's 40th most traded product, with a total trade of $52.8B. Between 2017 and 2018 the exports of Parts of turbo-jet or turbo-propeller engines grew by 58.5%, from  $33.3B to $52.8B. Trade in Parts of turbo-jet or turbo-propeller engines represent 0.29% of total world trade.

Exports: In 2018 the top exporters of Parts of turbo-jet or turbo-propeller engines  were United Kingdom ($8.86B), France ($7.58B), United States ($6.9B), Germany ($3.7B), and Japan ($3.65B).

Imports: In 2018 the top importers of Parts of turbo-jet or turbo-propeller engines were United States ($17.6B), Germany ($4.38B), United Kingdom ($4.31B), Singapore ($3.5B), and Japan ($2.45B).

Tariffs: In 2018 the average tariff for Parts of turbo-jet or turbo-propeller engines was 2.31%, been the 6073 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Parts of turbo-jet or turbo-propeller engines are Bermuda (25%), Maldives (19.6%), Cambodia (15%), Aruba (12%), and Nepal (9.89%). The countries with the lowest tariffs are Angola (0%), Ethiopia (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Parts of turbo-jet or turbo-propeller engines ranks 279th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United Kingdom, $8.86B

Top Destination (2018): United States, $17.6B

Parts of turbo-jet or turbo-propeller engines are the world's 40th most traded product.

In 2018, the top exporters of Parts of turbo-jet or turbo-propeller engines were United Kingdom ($8.86B), France ($7.58B), United States ($6.9B), Germany ($3.7B), and Japan ($3.65B).

In 2018, the top importers of Parts of turbo-jet or turbo-propeller engines were United States ($17.6B), Germany ($4.38B), United Kingdom ($4.31B), Singapore ($3.5B), and Japan ($2.45B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United Kingdom, $5.01B

Top Destination Growth (2017 - 2018): United States, $17.6B

Between 2017 and 2018, the exports of Parts of turbo-jet or turbo-propeller engines grew the fastest in United Kingdom ($5.01B), France ($4.19B), Brazil ($2.41B), Japan ($2.36B), and Singapore ($1.92B).

Between 2017 and 2018, the fastest growing importers of Parts of turbo-jet or turbo-propeller engines were United States ($17.6B), Singapore ($3.5B), New Zealand ($405M), Canada ($379M), and India ($369M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Parts of turbo-jet or turbo-propeller engines.

In 2018,  market concentration measured using Shannon Entropy, was 4.05. This means that most of the exports of Parts of turbo-jet or turbo-propeller engines are explained by 16 countries.

TOP NET EXPORTER (2018): France, $5.29B

TOP NET IMPORTER (2018): United States, $10.7B

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

In 2018, the countries that had a largest trade value in exports than imports of Parts of turbo-jet or turbo-propeller engines were France ($5.29B), United Kingdom ($4.55B), Brazil ($2.45B), Poland ($1.39B), and Japan ($1.21B).

In 2018, the countries that had a largest trade value in imports than exports of Parts of turbo-jet or turbo-propeller engines were United States ($10.7B), Hong Kong ($1.95B), Singapore ($1.58B), United Arab Emirates ($998M), and Germany ($679M).

Trade Forecasts

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This section shows forecasts for total trade for Parts of turbo-jet or turbo-propeller engines. 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 turbo-jet or turbo-propeller engines was 2.31%.  The countries with the highest tariffs for importing Parts of turbo-jet or turbo-propeller engines were Bermuda (25%), Maldives (19.6%), Cambodia (15%), Aruba (12%), and Nepal (9.89%).

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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.