HS Icon Compressors for refrigerating equipment

841430 (Harmonized System 1992 for 6-digit)

World Trade (2018): $14B, Rnk 206 / 4726

Top Exporter (2018): $3.57B, China

Top Importer (2018): $2.13B, United States

Product Complexity (2018): 1.28, Rnk 399 / 4873

Export Growth (CAGR)(2017 - 2018): 5.45%, Rnk 3279 / 4726

Mean Tariff (2018): 3.94%, Rnk 5034 / 6538

Share of World Trade (2018): 0.076%, Rnk 206 / 4726

Overview:  This page contains the latest trade data of Compressors for refrigerating equipment. In 2018, Compressors for refrigerating equipment were the world's 206th most traded product, with a total trade of $14B. Between 2017 and 2018 the exports of Compressors for refrigerating equipment grew by 5.45%, from  $13.3B to $14B. Trade in Compressors for refrigerating equipment represent 0.076% of total world trade.

Exports: In 2018 the top exporters of Compressors for refrigerating equipment  were China ($3.57B), Japan ($1.41B), United States ($1.31B), Germany ($1.12B), and South Korea ($1.04B).

Imports: In 2018 the top importers of Compressors for refrigerating equipment were United States ($2.13B), Germany ($954M), Mexico ($867M), China ($858M), and Italy ($568M).

Tariffs: In 2018 the average tariff for Compressors for refrigerating equipment was 3.94%, been the 5034 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Compressors for refrigerating equipment are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Pakistan (15.9%), and Cambodia (15%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), South Africa (0%), Hong Kong (0%), and Japan (0%).

Ranking: Compressors for refrigerating equipment ranks 399th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $3.57B

Top Destination (2018): United States, $2.13B

Compressors for refrigerating equipment are the world's 206th most traded product.

In 2018, the top exporters of Compressors for refrigerating equipment were China ($3.57B), Japan ($1.41B), United States ($1.31B), Germany ($1.12B), and South Korea ($1.04B).

In 2018, the top importers of Compressors for refrigerating equipment were United States ($2.13B), Germany ($954M), Mexico ($867M), China ($858M), and Italy ($568M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $316M

Top Destination Growth (2017 - 2018): India, $254M

Between 2017 and 2018, the exports of Compressors for refrigerating equipment grew the fastest in China ($316M), Germany ($188M), Japan ($152M), Poland ($142M), and South Korea ($84.9M).

Between 2017 and 2018, the fastest growing importers of Compressors for refrigerating equipment were India ($254M), Japan ($207M), Italy ($144M), Germany ($133M), and Poland ($69.2M).

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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 Compressors for refrigerating equipment.

In 2018,  market concentration measured using Shannon Entropy, was 3.9. This means that most of the exports of Compressors for refrigerating equipment are explained by 14 countries.

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TOP NET EXPORTER (2018): China, $2.72B

TOP NET IMPORTER (2018): United States, $823M

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

In 2018, the countries that had a largest trade value in exports than in imports of Compressors for refrigerating equipment were China ($2.72B), Japan ($918M), South Korea ($618M), Thailand ($387M), and Hungary ($199M).

In 2018, the countries that had a largest trade value in imports than in exports of Compressors for refrigerating equipment were United States ($823M), India ($490M), Turkey ($464M), Russia ($305M), and Italy ($292M).

Trade Forecasts

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This section shows forecasts for total trade for Compressors for refrigerating equipment. 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 Compressors for refrigerating equipment was 3.94%.  The countries with the highest tariffs for importing Compressors for refrigerating equipment were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Pakistan (15.9%), and Cambodia (15%).

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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.