HS Icon Liquid Fuel Furnaces

8416 (Harmonized System 1992 for 4-digit)

World Trade (2018): $2.68B, Rnk 658 / 1225

Top Exporter (2018): $734M, Germany

Top Importer (2018): $285M, China

Product Complexity (2018): 0.99, Rnk 175 / 1018

Export Growth (CAGR)(2017 - 2018): 15%, Rnk 519 / 1225

Mean Tariff (2018): 5.36%, Rnk 768 / 1259

Share of World Trade (2018): 0.015%, Rnk 658 / 1225

Overview:  This page contains the latest trade data of Liquid Fuel Furnaces. In 2018, Liquid Fuel Furnaces were the world's 658th most traded product, with a total trade of $2.68B. Between 2017 and 2018 the exports of Liquid Fuel Furnaces grew by 15%, from  $2.33B to $2.68B. Trade in Liquid Fuel Furnaces represent 0.015% of total world trade.

Exports: In 2018 the top exporters of Liquid Fuel Furnaces  were Germany ($734M), Italy ($534M), United States ($229M), China ($178M), and Austria ($98.6M).

Imports: In 2018 the top importers of Liquid Fuel Furnaces were China ($285M), United States ($223M), Germany ($161M), France ($128M), and United Kingdom ($105M).

Tariffs: In 2018 the average tariff for Liquid Fuel Furnaces was 5.36%, been the 768 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Liquid Fuel Furnaces are Bahamas (40.2%), Bermuda (25%), Iran (21%), Maldives (19.6%), and Azerbaijan (14.4%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Liquid Fuel Furnaces ranks 175th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $734M

Top Destination (2018): China, $285M

Liquid Fuel Furnaces are the world's 658th most traded product.

In 2018, the top exporters of Liquid Fuel Furnaces were Germany ($734M), Italy ($534M), United States ($229M), China ($178M), and Austria ($98.6M).

In 2018, the top importers of Liquid Fuel Furnaces were China ($285M), United States ($223M), Germany ($161M), France ($128M), and United Kingdom ($105M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $97.6M

Top Destination Growth (2017 - 2018): United States, $142M

Between 2017 and 2018, the exports of Liquid Fuel Furnaces grew the fastest in Germany ($97.6M), Italy ($46.5M), United States ($41.2M), China ($39.1M), and Austria ($35.3M).

Between 2017 and 2018, the fastest growing importers of Liquid Fuel Furnaces were United States ($142M), South Korea ($34.3M), Germany ($32.9M), Chinese Taipei ($28.8M), and Spain ($26.9M).

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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 Liquid Fuel Furnaces.

In 2018,  market concentration measured using Shannon Entropy, was 3.87. This means that most of the exports of Liquid Fuel Furnaces are explained by 14 countries.

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TOP NET EXPORTER (2018): Germany, $573M

TOP NET IMPORTER (2018): China, $107M

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

In 2018, the countries that had a largest trade value in exports than in imports of Liquid Fuel Furnaces were Germany ($573M), Italy ($445M), Austria ($54.8M), Denmark ($32.9M), and Japan ($21.6M).

In 2018, the countries that had a largest trade value in imports than in exports of Liquid Fuel Furnaces were China ($107M), Russia ($80.4M), France ($59.4M), Turkey ($53.4M), and South Korea ($50.9M).

Trade Forecasts

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This section shows forecasts for total trade for Liquid Fuel Furnaces. 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 Fuel Furnaces was 5.36%.  The countries with the highest tariffs for importing Liquid Fuel Furnaces were Bahamas (40.2%), Bermuda (25%), Iran (21%), Maldives (19.6%), and Azerbaijan (14.4%).

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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.