HS Icon Other Heating Machinery

8419 (Harmonized System 1992 for 4-digit)

World Trade (2018): $41.2B, Rnk 91 / 1225

Top Exporter (2018): $6.63B, Germany

Top Importer (2018): $5.86B, United States

Product Complexity (2018): 1.31, Rnk 80 / 1018

Export Growth (CAGR)(2017 - 2018): 12.1%, Rnk 663 / 1225

Mean Tariff (2018): 5.75%, Rnk 731 / 1259

Share of World Trade (2018): 0.22%, Rnk 91 / 1225

Overview: In 2018, Other Heating Machinery were the world's 91st most traded product, with a total trade of $41.2B. Between 2017 and 2018 the exports of Other Heating Machinery grew by 12.1%, from  $36.8B to $41.2B. Trade in Other Heating Machinery represent 0.22% of total world trade.

Exports: In 2018 the top exporters of Other Heating Machinery  were Germany ($6.63B), China ($5.32B), Italy ($4.05B), United States ($3.65B), and Japan ($2.02B).

Imports: In 2018 the top importers of Other Heating Machinery were United States ($5.86B), Germany ($2.65B), China ($2.48B), Russia ($1.95B), and France ($1.4B).

Tariffs: In 2018 the average tariff for Other Heating Machinery was 5.75%, been the 731 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Other Heating Machinery are Bahamas (32.6%), Bermuda (20%), Maldives (19.6%), Iran (17.3%), and Syria (17.2%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Other Heating Machinery ranks 80th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $6.63B

Top Destination (2018): United States, $5.86B

Other Heating Machinery are the world's 91st most traded product.

In 2018, the top exporters of Other Heating Machinery were Germany ($6.63B), China ($5.32B), Italy ($4.05B), United States ($3.65B), and Japan ($2.02B).

In 2018, the top importers of Other Heating Machinery were United States ($5.86B), Germany ($2.65B), China ($2.48B), Russia ($1.95B), and France ($1.4B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $1.53B

Top Destination Growth (2017 - 2018): United States, $1.33B

Between 2017 and 2018, the exports of Other Heating Machinery grew the fastest in Germany ($1.53B), Netherlands ($300M), Mexico ($296M), China ($294M), and Japan ($246M).

Between 2017 and 2018, the fastest growing importers of Other Heating Machinery were United States ($1.33B), China ($521M), India ($336M), France ($318M), and Iran ($307M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Other Heating Machinery.

In 2018,  market concentration measured using Shannon Entropy, was 4.52. This means that most of the exports of Other Heating Machinery are explained by 22 countries.

TOP NET EXPORTER (2018): Germany, $3.98B

TOP NET IMPORTER (2018): United States, $2.21B

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

In 2018, the countries that had a largest trade value in exports than imports of Other Heating Machinery were Germany ($3.98B), Italy ($3.18B), China ($2.83B), Japan ($1.01B), and South Korea ($885M).

In 2018, the countries that had a largest trade value in imports than exports of Other Heating Machinery were United States ($2.21B), Russia ($1.39B), Iran ($650M), Indonesia ($527M), and Australia ($512M).

Trade Forecasts

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This section shows forecasts for total trade for Other Heating Machinery. 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 Other Heating Machinery was 5.75%.  The countries with the highest tariffs for importing Other Heating Machinery were Bahamas (32.6%), Bermuda (20%), Maldives (19.6%), Iran (17.3%), and Syria (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.