HS Icon Lifting Machinery

8428 (Harmonized System 1992 for 4-digit)

World Trade (2018): $32.9B, Rnk 113 / 1225

Top Exporter (2018): $5.38B, Germany

Top Importer (2018): $4.03B, United States

Product Complexity (2018): 1.09, Rnk 144 / 1018

Export Growth (CAGR)(2017 - 2018): 12.5%, Rnk 646 / 1225

Mean Tariff (2018): 5.08%, Rnk 815 / 1259

Share of World Trade (2018): 0.18%, Rnk 113 / 1225

Overview: In 2018, Lifting Machinery were the world's 113th most traded product, with a total trade of $32.9B. Between 2017 and 2018 the exports of Lifting Machinery grew by 12.5%, from  $29.3B to $32.9B. Trade in Lifting Machinery represent 0.18% of total world trade.

Exports: In 2018 the top exporters of Lifting Machinery  were Germany ($5.38B), China ($4.9B), Italy ($2.29B), United States ($2.08B), and Japan ($1.81B).

Imports: In 2018 the top importers of Lifting Machinery were United States ($4.03B), China ($2.21B), Germany ($1.95B), France ($1.24B), and United Kingdom ($1.14B).

Tariffs: In 2018 the average tariff for Lifting Machinery was 5.08%, been the 815 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Lifting Machinery are Bahamas (40.2%), Bermuda (35%), Maldives (19.6%), Finland (15%), and Cambodia (15%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Lifting Machinery ranks 144th in the Product Complexity Index (PCI).

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2018): Germany, $5.38B

Top Destination (2018): United States, $4.03B

Lifting Machinery are the world's 113th most traded product.

In 2018, the top exporters of Lifting Machinery were Germany ($5.38B), China ($4.9B), Italy ($2.29B), United States ($2.08B), and Japan ($1.81B).

In 2018, the top importers of Lifting Machinery were United States ($4.03B), China ($2.21B), Germany ($1.95B), France ($1.24B), and United Kingdom ($1.14B).

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $987M

Top Destination Growth (2017 - 2018): Germany, $392M

Between 2017 and 2018, the exports of Lifting Machinery grew the fastest in Germany ($987M), Netherlands ($414M), China ($359M), Italy ($324M), and South Korea ($264M).

Between 2017 and 2018, the fastest growing importers of Lifting Machinery were Germany ($392M), France ($287M), Poland ($264M), India ($257M), and Spain ($187M).

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Lifting Machinery.

In 2018,  market concentration measured using Shannon Entropy, was 4.47. This means that most of the exports of Lifting Machinery are explained by 22 countries.

TOP NET EXPORTER (2018): Germany, $3.44B

TOP NET IMPORTER (2018): United States, $1.95B

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

In 2018, the countries that had a largest trade value in exports than imports of Lifting Machinery were Germany ($3.44B), China ($2.7B), Italy ($1.72B), Japan ($1.4B), and South Korea ($984M).

In 2018, the countries that had a largest trade value in imports than exports of Lifting Machinery were United States ($1.95B), Russia ($929M), Vietnam ($715M), Australia ($673M), and India ($568M).

Trade Forecasts

#permalink to section

This section shows forecasts for total trade for Lifting Machinery. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

Explore Forecasts

Import Tariffs

#permalink to section

In 2018, the average tariff for importing Lifting Machinery was 5.08%.  The countries with the highest tariffs for importing Lifting Machinery were Bahamas (40.2%), Bermuda (35%), Maldives (19.6%), Finland (15%), and Cambodia (15%).

Explore Tariff Data