HS Icon Liquid Pumps

8413 (Harmonized System 1992 for 4-digit)

World Trade (2018): $67.6B, Rnk 39 / 1225

Top Exporter (2018): $11.7B, Germany

Top Importer (2018): $10.5B, United States

Product Complexity (2018): 1.36, Rnk 72 / 1018

Export Growth (CAGR)(2017 - 2018): 8.06%, Rnk 863 / 1225

Mean Tariff (2018): 5.28%, Rnk 776 / 1259

Share of World Trade (2018): 0.37%, Rnk 39 / 1225

Overview: In 2018, Liquid Pumps were the world's 39th most traded product, with a total trade of $67.6B. Between 2017 and 2018 the exports of Liquid Pumps grew by 8.06%, from  $62.5B to $67.6B. Trade in Liquid Pumps represent 0.37% of total world trade.

Exports: In 2018 the top exporters of Liquid Pumps  were Germany ($11.7B), China ($8.55B), United States ($7.84B), Italy ($4.55B), and Japan ($4.05B).

Imports: In 2018 the top importers of Liquid Pumps were United States ($10.5B), Germany ($5.35B), China ($4.58B), France ($2.38B), and United Kingdom ($2.33B).

Tariffs: In 2018 the average tariff for Liquid Pumps was 5.28%, been the 776 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Liquid Pumps are Bahamas (32.9%), Bermuda (25.8%), Maldives (25.3%), Iran (19.1%), and Pakistan (17.2%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), South Africa (0%), Armenia (0%), and Hong Kong (0%).

Ranking: Liquid Pumps ranks 72nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $11.7B

Top Destination (2018): United States, $10.5B

Liquid Pumps are the world's 39th most traded product.

In 2018, the top exporters of Liquid Pumps were Germany ($11.7B), China ($8.55B), United States ($7.84B), Italy ($4.55B), and Japan ($4.05B).

In 2018, the top importers of Liquid Pumps were United States ($10.5B), Germany ($5.35B), China ($4.58B), France ($2.38B), and United Kingdom ($2.33B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $978M

Top Destination Growth (2017 - 2018): Netherlands, $532M

Between 2017 and 2018, the exports of Liquid Pumps grew the fastest in Germany ($978M), United States ($720M), Netherlands ($654M), China ($318M), and United Kingdom ($299M).

Between 2017 and 2018, the fastest growing importers of Liquid Pumps were Netherlands ($532M), Germany ($417M), China ($402M), United States ($378M), and India ($338M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Liquid Pumps.

In 2018,  market concentration measured using Shannon Entropy, was 4.46. This means that most of the exports of Liquid Pumps are explained by 22 countries.

TOP NET EXPORTER (2018): Germany, $6.4B

TOP NET IMPORTER (2018): United States, $2.66B

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

In 2018, the countries that had a largest trade value in exports than imports of Liquid Pumps were Germany ($6.4B), China ($3.98B), Italy ($2.72B), Japan ($2.52B), and Czechia ($1.22B).

In 2018, the countries that had a largest trade value in imports than exports of Liquid Pumps were United States ($2.66B), Russia ($1.05B), Indonesia ($914M), Saudi Arabia ($676M), and Australia ($597M).

Trade Forecasts

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This section shows forecasts for total trade for Liquid Pumps. 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 Liquid Pumps was 5.28%.  The countries with the highest tariffs for importing Liquid Pumps were Bahamas (32.9%), Bermuda (25.8%), Maldives (25.3%), Iran (19.1%), and Pakistan (17.2%).

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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.