HS Icon Parts of cranes, work-trucks, shovels, constr machine

843149 (Harmonized System 1992 for 6-digit)

World Trade (2018): $25.4B, Rnk 102 / 4726

Top Exporter (2018): $4.81B, China

Top Importer (2018): $4.41B, United States

Product Complexity (2018): 0.78, Rnk 1163 / 4873

Export Growth (CAGR)(2017 - 2018): 18.3%, Rnk 1538 / 4726

Mean Tariff (2018): 4.44%, Rnk 4567 / 6538

Share of World Trade (2018): 0.14%, Rnk 102 / 4726

Overview:  This page contains the latest trade data of Parts of cranes, work-trucks, shovels, constr machine. In 2018, Parts of cranes, work-trucks, shovels, constr machine were the world's 102nd most traded product, with a total trade of $25.4B. Between 2017 and 2018 the exports of Parts of cranes, work-trucks, shovels, constr machine grew by 18.3%, from  $21.5B to $25.4B. Trade in Parts of cranes, work-trucks, shovels, constr machine represent 0.14% of total world trade.

Exports: In 2018 the top exporters of Parts of cranes, work-trucks, shovels, constr machine  were China ($4.81B), Germany ($2.1B), South Korea ($2.1B), Japan ($2.09B), and United States ($1.57B).

Imports: In 2018 the top importers of Parts of cranes, work-trucks, shovels, constr machine were United States ($4.41B), Germany ($2.04B), Japan ($1.43B), China ($1.29B), and France ($1.07B).

Tariffs: In 2018 the average tariff for Parts of cranes, work-trucks, shovels, constr machine was 4.44%, been the 4567 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Parts of cranes, work-trucks, shovels, constr machine are Bahamas (40.2%), Bermuda (35%), Maldives (20%), Jordan (15.6%), and Cambodia (15%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Armenia (0%), Hong Kong (0%), and Japan (0%).

Ranking: Parts of cranes, work-trucks, shovels, constr machine ranks 1163rd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $4.81B

Top Destination (2018): United States, $4.41B

Parts of cranes, work-trucks, shovels, constr machine are the world's 102nd most traded product.

In 2018, the top exporters of Parts of cranes, work-trucks, shovels, constr machine were China ($4.81B), Germany ($2.1B), South Korea ($2.1B), Japan ($2.09B), and United States ($1.57B).

In 2018, the top importers of Parts of cranes, work-trucks, shovels, constr machine were United States ($4.41B), Germany ($2.04B), Japan ($1.43B), China ($1.29B), and France ($1.07B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $1.02B

Top Destination Growth (2017 - 2018): United States, $984M

Between 2017 and 2018, the exports of Parts of cranes, work-trucks, shovels, constr machine grew the fastest in China ($1.02B), South Korea ($435M), Japan ($397M), France ($332M), and Belgium-Luxembourg ($215M).

Between 2017 and 2018, the fastest growing importers of Parts of cranes, work-trucks, shovels, constr machine were United States ($984M), Australia ($963M), Indonesia ($319M), China ($269M), and Germany ($259M).

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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 Parts of cranes, work-trucks, shovels, constr machine.

In 2018,  market concentration measured using Shannon Entropy, was 4.56. This means that most of the exports of Parts of cranes, work-trucks, shovels, constr machine are explained by 23 countries.

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TOP NET EXPORTER (2018): China, $3.52B

TOP NET IMPORTER (2018): United States, $2.84B

This map shows which countries export or import more of Parts of cranes, work-trucks, shovels, constr machine. Each country is colored based on the difference in exports and imports of Parts of cranes, work-trucks, shovels, constr machine during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Parts of cranes, work-trucks, shovels, constr machine were China ($3.52B), South Korea ($1.71B), Italy ($973M), Japan ($661M), and Mexico ($393M).

In 2018, the countries that had a largest trade value in imports than in exports of Parts of cranes, work-trucks, shovels, constr machine were United States ($2.84B), Australia ($778M), Indonesia ($586M), Russia ($453M), and Brazil ($334M).

Trade Forecasts

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This section shows forecasts for total trade for Parts of cranes, work-trucks, shovels, constr machine. 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 Parts of cranes, work-trucks, shovels, constr machine was 4.44%.  The countries with the highest tariffs for importing Parts of cranes, work-trucks, shovels, constr machine were Bahamas (40.2%), Bermuda (35%), Maldives (20%), Jordan (15.6%), 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.