HS Icon Refrigerators

8418 (Harmonized System 1992 for 4-digit)

World Trade (2018): $46.8B, Rnk 80 / 1225

Top Exporter (2018): $10.8B, China

Top Importer (2018): $9.15B, United States

Product Complexity (2018): 0.62, Rnk 320 / 1018

Export Growth (CAGR)(2017 - 2018): 8.61%, Rnk 841 / 1225

Mean Tariff (2018): 11.1%, Rnk 362 / 1259

Share of World Trade (2018): 0.25%, Rnk 80 / 1225

Overview:  This page contains the latest trade data of Refrigerators. In 2018, Refrigerators were the world's 80th most traded product, with a total trade of $46.8B. Between 2017 and 2018 the exports of Refrigerators grew by 8.61%, from  $43.1B to $46.8B. Trade in Refrigerators represent 0.25% of total world trade.

Exports: In 2018 the top exporters of Refrigerators  were China ($10.8B), Mexico ($5.21B), Italy ($3.38B), Germany ($2.59B), and United States ($2.48B).

Imports: In 2018 the top importers of Refrigerators were United States ($9.15B), Germany ($3.3B), France ($2.24B), United Kingdom ($1.81B), and Canada ($1.48B).

Tariffs: In 2018 the average tariff for Refrigerators was 11.1%, been the 362 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Refrigerators are Zimbabwe (35.8%), Iran (35.7%), Malaysia (30%), Syria (29.4%), and Sudan (28.9%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), Singapore (0%), and Switzerland (0%).

Ranking: Refrigerators ranks 320th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $10.8B

Top Destination (2018): United States, $9.15B

Refrigerators are the world's 80th most traded product.

In 2018, the top exporters of Refrigerators were China ($10.8B), Mexico ($5.21B), Italy ($3.38B), Germany ($2.59B), and United States ($2.48B).

In 2018, the top importers of Refrigerators were United States ($9.15B), Germany ($3.3B), France ($2.24B), United Kingdom ($1.81B), and Canada ($1.48B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $705M

Top Destination Growth (2017 - 2018): Germany, $456M

Between 2017 and 2018, the exports of Refrigerators grew the fastest in China ($705M), Thailand ($418M), United Arab Emirates ($332M), Italy ($315M), and United States ($302M).

Between 2017 and 2018, the fastest growing importers of Refrigerators were Germany ($456M), Vietnam ($308M), Netherlands ($263M), Poland ($170M), and Spain ($158M).

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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 Refrigerators.

In 2018,  market concentration measured using Shannon Entropy, was 4.43. This means that most of the exports of Refrigerators are explained by 21 countries.

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TOP NET EXPORTER (2018): China, $9.62B

TOP NET IMPORTER (2018): United States, $6.66B

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

In 2018, the countries that had a largest trade value in exports than in imports of Refrigerators were China ($9.62B), Mexico ($4.32B), Italy ($2.2B), Turkey ($1.73B), and Thailand ($1.71B).

In 2018, the countries that had a largest trade value in imports than in exports of Refrigerators were United States ($6.66B), United Kingdom ($1.45B), Canada ($1.11B), Australia ($1B), and Germany ($711M).

Trade Forecasts

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This section shows forecasts for total trade for Refrigerators. 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 Refrigerators was 11.1%.  The countries with the highest tariffs for importing Refrigerators were Zimbabwe (35.8%), Iran (35.7%), Malaysia (30%), Syria (29.4%), and Sudan (28.9%).

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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.