HS Icon Shovels and excavators with revolving superstructure

842952 (Harmonized System 1992 for 6-digit)

World Trade (2018): $25B, Rnk 105 / 4726

Top Exporter (2018): $8.36B, Japan

Top Importer (2018): $3.7B, United States

Product Complexity (2018): 1.52, Rnk 218 / 4873

Export Growth (CAGR)(2017 - 2018): 20.5%, Rnk 1340 / 4726

Mean Tariff (2018): 4.91%, Rnk 4205 / 6538

Share of World Trade (2018): 0.14%, Rnk 105 / 4726

Overview:  This page contains the latest trade data of Shovels and excavators with revolving superstructure. In 2018, Shovels and excavators with revolving superstructure were the world's 105th most traded product, with a total trade of $25B. Between 2017 and 2018 the exports of Shovels and excavators with revolving superstructure grew by 20.5%, from  $20.7B to $25B. Trade in Shovels and excavators with revolving superstructure represent 0.14% of total world trade.

Exports: In 2018 the top exporters of Shovels and excavators with revolving superstructure  were Japan ($8.36B), South Korea ($3.33B), China ($1.97B), Germany ($1.96B), and Netherlands ($1.3B).

Imports: In 2018 the top importers of Shovels and excavators with revolving superstructure were United States ($3.7B), Netherlands ($1.52B), Germany ($1.37B), Canada ($1.3B), and China ($1.17B).

Tariffs: In 2018 the average tariff for Shovels and excavators with revolving superstructure was 4.91%, been the 4205 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Shovels and excavators with revolving superstructure are Maldives (50%), Bahamas (40.2%), Bermuda (35%), Iran (15.7%), and Cambodia (15%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Shovels and excavators with revolving superstructure ranks 218th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Japan, $8.36B

Top Destination (2018): United States, $3.7B

Shovels and excavators with revolving superstructure are the world's 105th most traded product.

In 2018, the top exporters of Shovels and excavators with revolving superstructure were Japan ($8.36B), South Korea ($3.33B), China ($1.97B), Germany ($1.96B), and Netherlands ($1.3B).

In 2018, the top importers of Shovels and excavators with revolving superstructure were United States ($3.7B), Netherlands ($1.52B), Germany ($1.37B), Canada ($1.3B), and China ($1.17B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Japan, $572M

Top Destination Growth (2017 - 2018): United States, $750M

Between 2017 and 2018, the exports of Shovels and excavators with revolving superstructure grew the fastest in Japan ($572M), China ($544M), Netherlands ($452M), Germany ($445M), and United States ($377M).

Between 2017 and 2018, the fastest growing importers of Shovels and excavators with revolving superstructure were United States ($750M), Belgium-Luxembourg ($418M), Indonesia ($318M), United Kingdom ($287M), and France ($267M).

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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 Shovels and excavators with revolving superstructure.

In 2018,  market concentration measured using Shannon Entropy, was 3.56. This means that most of the exports of Shovels and excavators with revolving superstructure are explained by 11 countries.

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TOP NET EXPORTER (2018): Japan, $8.34B

TOP NET IMPORTER (2018): United States, $2.41B

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

In 2018, the countries that had a largest trade value in exports than in imports of Shovels and excavators with revolving superstructure were Japan ($8.34B), South Korea ($3.24B), China ($796M), Germany ($588M), and Austria ($309M).

In 2018, the countries that had a largest trade value in imports than in exports of Shovels and excavators with revolving superstructure were United States ($2.41B), Canada ($1.27B), Australia ($780M), Indonesia ($700M), and Philippines ($555M).

Trade Forecasts

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This section shows forecasts for total trade for Shovels and excavators with revolving superstructure. 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 Shovels and excavators with revolving superstructure was 4.91%.  The countries with the highest tariffs for importing Shovels and excavators with revolving superstructure were Maldives (50%), Bahamas (40.2%), Bermuda (35%), Iran (15.7%), and Cambodia (15%).

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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.