HS Icon Parts of pumps for liquids

841391 (Harmonized System 1992 for 6-digit)

World Trade (2018): $15.6B, Rnk 180 / 4726

Top Exporter (2018): $2.53B, Germany

Top Importer (2018): $2.85B, United States

Product Complexity (2018): 0.96, Rnk 847 / 4873

Export Growth (CAGR)(2017 - 2018): 3.25%, Rnk 3525 / 4726

Mean Tariff (2018): 4.08%, Rnk 4900 / 6538

Share of World Trade (2018): 0.085%, Rnk 180 / 4726

Overview:  This page contains the latest trade data of Parts of pumps for liquids. In 2018, Parts of pumps for liquids were the world's 180th most traded product, with a total trade of $15.6B. Between 2017 and 2018 the exports of Parts of pumps for liquids grew by 3.25%, from  $15.1B to $15.6B. Trade in Parts of pumps for liquids represent 0.085% of total world trade.

Exports: In 2018 the top exporters of Parts of pumps for liquids  were Germany ($2.53B), China ($2.19B), United States ($1.65B), Japan ($987M), and Italy ($935M).

Imports: In 2018 the top importers of Parts of pumps for liquids were United States ($2.85B), Germany ($1.16B), China ($953M), Mexico ($622M), and Czechia ($551M).

Tariffs: In 2018 the average tariff for Parts of pumps for liquids was 4.08%, been the 4900 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Parts of pumps for liquids are Bahamas (40.2%), Maldives (34.2%), Bermuda (25%), Sri Lanka (22%), and Tunisia (20%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Madagascar (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Parts of pumps for liquids ranks 847th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $2.53B

Top Destination (2018): United States, $2.85B

Parts of pumps for liquids are the world's 180th most traded product.

In 2018, the top exporters of Parts of pumps for liquids were Germany ($2.53B), China ($2.19B), United States ($1.65B), Japan ($987M), and Italy ($935M).

In 2018, the top importers of Parts of pumps for liquids were United States ($2.85B), Germany ($1.16B), China ($953M), Mexico ($622M), and Czechia ($551M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $303M

Top Destination Growth (2017 - 2018): United Arab Emirates, $82.1M

Between 2017 and 2018, the exports of Parts of pumps for liquids grew the fastest in United States ($303M), Netherlands ($141M), Canada ($89.4M), Germany ($63.2M), and United Arab Emirates ($62.9M).

Between 2017 and 2018, the fastest growing importers of Parts of pumps for liquids were United Arab Emirates ($82.1M), India ($81.8M), Saudi Arabia ($77.4M), Brazil ($76.8M), and South Korea ($73.3M).

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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 pumps for liquids.

In 2018,  market concentration measured using Shannon Entropy, was 4.49. This means that most of the exports of Parts of pumps for liquids are explained by 22 countries.

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TOP NET EXPORTER (2018): Germany, $1.37B

TOP NET IMPORTER (2018): United States, $1.2B

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

In 2018, the countries that had a largest trade value in exports than in imports of Parts of pumps for liquids were Germany ($1.37B), China ($1.24B), Japan ($526M), Italy ($452M), and Denmark ($296M).

In 2018, the countries that had a largest trade value in imports than in exports of Parts of pumps for liquids were United States ($1.2B), Czechia ($370M), Mexico ($329M), Saudi Arabia ($203M), and Indonesia ($188M).

Trade Forecasts

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This section shows forecasts for total trade for Parts of pumps for liquids. 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 pumps for liquids was 4.08%.  The countries with the highest tariffs for importing Parts of pumps for liquids were Bahamas (40.2%), Maldives (34.2%), Bermuda (25%), Sri Lanka (22%), and Tunisia (20%).

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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.