HS Icon Parts of gas turbine engines except turbo-jet/prop

841199 (Harmonized System 1992 for 6-digit)

World Trade (2018): $19.8B, Rnk 136 / 4726

Top Exporter (2018): $4.28B, United States

Top Importer (2018): $2.63B, United States

Product Complexity (2018): 1.26, Rnk 417 / 4873

Export Growth (CAGR)(2017 - 2018): 30.2%, Rnk 800 / 4726

Mean Tariff (2018): 3.11%, Rnk 5648 / 6538

Share of World Trade (2018): 0.11%, Rnk 136 / 4726

Overview:  This page contains the latest trade data of Parts of gas turbine engines except turbo-jet/prop. In 2018, Parts of gas turbine engines except turbo-jet/prop were the world's 136th most traded product, with a total trade of $19.8B. Between 2017 and 2018 the exports of Parts of gas turbine engines except turbo-jet/prop grew by 30.2%, from  $15.2B to $19.8B. Trade in Parts of gas turbine engines except turbo-jet/prop represent 0.11% of total world trade.

Exports: In 2018 the top exporters of Parts of gas turbine engines except turbo-jet/prop  were United States ($4.28B), Germany ($2.24B), Italy ($1.81B), Japan ($1.44B), and Switzerland ($1.39B).

Imports: In 2018 the top importers of Parts of gas turbine engines except turbo-jet/prop were United States ($2.63B), Germany ($1.01B), Italy ($926M), Mexico ($856M), and United Kingdom ($810M).

Tariffs: In 2018 the average tariff for Parts of gas turbine engines except turbo-jet/prop was 3.11%, been the 5648 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Parts of gas turbine engines except turbo-jet/prop are Bermuda (25%), Bahamas (22.3%), Maldives (19.6%), Cambodia (15%), and Aruba (12%). The countries with the lowest tariffs are Angola (0%), Ethiopia (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Parts of gas turbine engines except turbo-jet/prop ranks 417th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $4.28B

Top Destination (2018): United States, $2.63B

Parts of gas turbine engines except turbo-jet/prop are the world's 136th most traded product.

In 2018, the top exporters of Parts of gas turbine engines except turbo-jet/prop were United States ($4.28B), Germany ($2.24B), Italy ($1.81B), Japan ($1.44B), and Switzerland ($1.39B).

In 2018, the top importers of Parts of gas turbine engines except turbo-jet/prop were United States ($2.63B), Germany ($1.01B), Italy ($926M), Mexico ($856M), and United Kingdom ($810M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Mexico, $682M

Top Destination Growth (2017 - 2018): United States, $2.63B

Between 2017 and 2018, the exports of Parts of gas turbine engines except turbo-jet/prop grew the fastest in Mexico ($682M), Singapore ($550M), Japan ($466M), Canada ($449M), and United States ($411M).

Between 2017 and 2018, the fastest growing importers of Parts of gas turbine engines except turbo-jet/prop were United States ($2.63B), Singapore ($724M), Australia ($273M), Saudi Arabia ($228M), and Egypt ($204M).

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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 Parts of gas turbine engines except turbo-jet/prop.

In 2018,  market concentration measured using Shannon Entropy, was 4.12. This means that most of the exports of Parts of gas turbine engines except turbo-jet/prop are explained by 17 countries.

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TOP NET EXPORTER (2018): United States, $1.65B

TOP NET IMPORTER (2018): South Korea, $424M

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

In 2018, the countries that had a largest trade value in exports than in imports of Parts of gas turbine engines except turbo-jet/prop were United States ($1.65B), Germany ($1.22B), Japan ($901M), Italy ($882M), and Switzerland ($879M).

In 2018, the countries that had a largest trade value in imports than in exports of Parts of gas turbine engines except turbo-jet/prop were South Korea ($424M), Chinese Taipei ($392M), Algeria ($323M), United Arab Emirates ($317M), and Saudi Arabia ($316M).

Trade Forecasts

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This section shows forecasts for total trade for Parts of gas turbine engines except turbo-jet/prop. 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 gas turbine engines except turbo-jet/prop was 3.11%.  The countries with the highest tariffs for importing Parts of gas turbine engines except turbo-jet/prop were Bermuda (25%), Bahamas (22.3%), 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.