HS Icon Soil Preparation Machinery

8432 (Harmonized System 1992 for 4-digit)

World Trade (2018): $8.42B, Rnk 374 / 1225

Top Exporter (2018): $1.59B, Germany

Top Importer (2018): $897M, United States

Product Complexity (2018): 0.43, Rnk 400 / 1018

Export Growth (CAGR)(2017 - 2018): 14.1%, Rnk 559 / 1225

Mean Tariff (2018): 4.74%, Rnk 869 / 1259

Share of World Trade (2018): 0.046%, Rnk 374 / 1225

Overview: In 2018, Soil Preparation Machinery were the world's 374th most traded product, with a total trade of $8.42B. Between 2017 and 2018 the exports of Soil Preparation Machinery grew by 14.1%, from  $7.39B to $8.42B. Trade in Soil Preparation Machinery represent 0.046% of total world trade.

Exports: In 2018 the top exporters of Soil Preparation Machinery  were Germany ($1.59B), Italy ($855M), China ($789M), United States ($559M), and France ($532M).

Imports: In 2018 the top importers of Soil Preparation Machinery were United States ($897M), Germany ($731M), France ($699M), Russia ($474M), and Canada ($366M).

Tariffs: In 2018 the average tariff for Soil Preparation Machinery was 4.74%, been the 869 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Soil Preparation Machinery are Bahamas (40.2%), Maldives (19.6%), Argentina (15.2%), Venezuela (13.4%), and Brazil (13.4%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mozambique (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Soil Preparation Machinery ranks 400th in the Product Complexity Index (PCI).

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2018): Germany, $1.59B

Top Destination (2018): United States, $897M

Soil Preparation Machinery are the world's 374th most traded product.

In 2018, the top exporters of Soil Preparation Machinery were Germany ($1.59B), Italy ($855M), China ($789M), United States ($559M), and France ($532M).

In 2018, the top importers of Soil Preparation Machinery were United States ($897M), Germany ($731M), France ($699M), Russia ($474M), and Canada ($366M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2017 -  2018): Italy, $136M

Top Destination Growth (2017 - 2018): United States, $221M

Between 2017 and 2018, the exports of Soil Preparation Machinery grew the fastest in Italy ($136M), Netherlands ($135M), Germany ($83.2M), Sweden ($83.2M), and France ($77.2M).

Between 2017 and 2018, the fastest growing importers of Soil Preparation Machinery were United States ($221M), Germany ($158M), France ($151M), United Kingdom ($53.9M), and Poland ($51.4M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Soil Preparation Machinery.

In 2018,  market concentration measured using Shannon Entropy, was 4.48. This means that most of the exports of Soil Preparation Machinery are explained by 22 countries.

Explore Visualizations

TOP NET EXPORTER (2018): Germany, $857M

TOP NET IMPORTER (2018): Russia, $414M

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

In 2018, the countries that had a largest trade value in exports than in imports of Soil Preparation Machinery were Germany ($857M), Italy ($694M), China ($687M), Netherlands ($196M), and Sweden ($191M).

In 2018, the countries that had a largest trade value in imports than in exports of Soil Preparation Machinery were Russia ($414M), United States ($338M), Ukraine ($287M), Romania ($183M), and United Kingdom ($181M).

Trade Forecasts

#permalink to section

This section shows forecasts for total trade for Soil Preparation 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 Soil Preparation Machinery was 4.74%.  The countries with the highest tariffs for importing Soil Preparation Machinery were Bahamas (40.2%), Maldives (19.6%), Argentina (15.2%), Venezuela (13.4%), and Brazil (13.4%).

Explore Tariff Data

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
Filter

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.