HS Icon Fork-Lifts

8427 (Harmonized System 1992 for 4-digit)

World Trade (2018): $20.2B, Rnk 185 / 1225

Top Exporter (2018): $3.81B, Germany

Top Importer (2018): $2.61B, United States

Product Complexity (2018): 1.58, Rnk 36 / 1018

Export Growth (CAGR)(2017 - 2018): 18.4%, Rnk 375 / 1225

Mean Tariff (2018): 7.38%, Rnk 592 / 1259

Share of World Trade (2018): 0.11%, Rnk 185 / 1225

Overview: In 2018, Fork-Lifts were the world's 185th most traded product, with a total trade of $20.2B. Between 2017 and 2018 the exports of Fork-Lifts grew by 18.4%, from  $17.1B to $20.2B. Trade in Fork-Lifts represent 0.11% of total world trade.

Exports: In 2018 the top exporters of Fork-Lifts  were Germany ($3.81B), China ($2.75B), United States ($2.1B), Italy ($1.58B), and United Kingdom ($1.38B).

Imports: In 2018 the top importers of Fork-Lifts were United States ($2.61B), France ($1.51B), Germany ($1.19B), United Kingdom ($1.11B), and Netherlands ($1.04B).

Tariffs: In 2018 the average tariff for Fork-Lifts was 7.38%, been the 592 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Fork-Lifts are Maldives (41.4%), Bahamas (40.2%), Bermuda (35%), Iran (26.7%), and Bulgaria (20.2%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Fork-Lifts ranks 36th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $3.81B

Top Destination (2018): United States, $2.61B

Fork-Lifts are the world's 185th most traded product.

In 2018, the top exporters of Fork-Lifts were Germany ($3.81B), China ($2.75B), United States ($2.1B), Italy ($1.58B), and United Kingdom ($1.38B).

In 2018, the top importers of Fork-Lifts were United States ($2.61B), France ($1.51B), Germany ($1.19B), United Kingdom ($1.11B), and Netherlands ($1.04B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $714M

Top Destination Growth (2017 - 2018): France, $301M

Between 2017 and 2018, the exports of Fork-Lifts grew the fastest in China ($714M), Germany ($341M), United States ($325M), France ($195M), and Italy ($190M).

Between 2017 and 2018, the fastest growing importers of Fork-Lifts were France ($301M), United States ($296M), Belgium-Luxembourg ($273M), Canada ($242M), and Germany ($222M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Fork-Lifts.

In 2018,  market concentration measured using Shannon Entropy, was 3.97. This means that most of the exports of Fork-Lifts are explained by 15 countries.

TOP NET EXPORTER (2018): Germany, $2.62B

TOP NET IMPORTER (2018): Australia, $642M

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

In 2018, the countries that had a largest trade value in exports than imports of Fork-Lifts were Germany ($2.62B), China ($2.56B), Japan ($950M), Sweden ($877M), and Italy ($745M).

In 2018, the countries that had a largest trade value in imports than exports of Fork-Lifts were Australia ($642M), United States ($510M), Spain ($489M), Belgium-Luxembourg ($482M), and Russia ($435M).

Trade Forecasts

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This section shows forecasts for total trade for Fork-Lifts. 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 Fork-Lifts was 7.38%.  The countries with the highest tariffs for importing Fork-Lifts were Maldives (41.4%), Bahamas (40.2%), Bermuda (35%), Iran (26.7%), and Bulgaria (20.2%).

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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.