HS Icon Harvesting Machinery

8433 (Harmonized System 1992 for 4-digit)

World Trade (2018): $21.7B, Rnk 173 / 1225

Top Exporter (2018): $4.08B, Germany

Top Importer (2018): $2.32B, United States

Product Complexity (2018): 0.85, Rnk 222 / 1018

Export Growth (CAGR)(2017 - 2018): 10.3%, Rnk 760 / 1225

Mean Tariff (2018): 4.69%, Rnk 879 / 1259

Share of World Trade (2018): 0.12%, Rnk 173 / 1225

Overview: In 2018, Harvesting Machinery were the world's 173rd most traded product, with a total trade of $21.7B. Between 2017 and 2018 the exports of Harvesting Machinery grew by 10.3%, from  $19.7B to $21.7B. Trade in Harvesting Machinery represent 0.12% of total world trade.

Exports: In 2018 the top exporters of Harvesting Machinery  were Germany ($4.08B), United States ($3.18B), China ($2.11B), Belgium-Luxembourg ($1.47B), and Italy ($1.35B).

Imports: In 2018 the top importers of Harvesting Machinery were United States ($2.32B), Germany ($2.1B), France ($1.94B), Canada ($1.38B), and United Kingdom ($1.03B).

Tariffs: In 2018 the average tariff for Harvesting Machinery was 4.69%, been the 879 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Harvesting Machinery are Bahamas (36.4%), Maldives (19.6%), Cameroon (13.4%), Gabon (13.4%), and Chad (13.4%). The countries with the lowest tariffs are Angola (0%), Mozambique (0%), Mauritius (0%), Hong Kong (0%), and Japan (0%).

Ranking: Harvesting Machinery ranks 222nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $4.08B

Top Destination (2018): United States, $2.32B

Harvesting Machinery are the world's 173rd most traded product.

In 2018, the top exporters of Harvesting Machinery were Germany ($4.08B), United States ($3.18B), China ($2.11B), Belgium-Luxembourg ($1.47B), and Italy ($1.35B).

In 2018, the top importers of Harvesting Machinery were United States ($2.32B), Germany ($2.1B), France ($1.94B), Canada ($1.38B), and United Kingdom ($1.03B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Belgium-Luxembourg, $551M

Top Destination Growth (2017 - 2018): France, $470M

Between 2017 and 2018, the exports of Harvesting Machinery grew the fastest in Belgium-Luxembourg ($551M), Germany ($212M), United States ($158M), Thailand ($149M), and Czechia ($134M).

Between 2017 and 2018, the fastest growing importers of Harvesting Machinery were France ($470M), United States ($281M), Germany ($229M), Brazil ($223M), and Poland ($164M).

Market Concentration

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Cumulative market share

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

In 2018,  market concentration measured using Shannon Entropy, was 4.27. This means that most of the exports of Harvesting Machinery are explained by 19 countries.

TOP NET EXPORTER (2018): Germany, $1.98B

TOP NET IMPORTER (2018): Canada, $859M

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

In 2018, the countries that had a largest trade value in exports than imports of Harvesting Machinery were Germany ($1.98B), China ($1.76B), United States ($856M), Italy ($821M), and Belgium-Luxembourg ($719M).

In 2018, the countries that had a largest trade value in imports than exports of Harvesting Machinery were Canada ($859M), France ($795M), Australia ($684M), Russia ($470M), and United Kingdom ($394M).

Trade Forecasts

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This section shows forecasts for total trade for Harvesting Machinery. 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 Harvesting Machinery was 4.69%.  The countries with the highest tariffs for importing Harvesting Machinery were Bahamas (36.4%), Maldives (19.6%), Cameroon (13.4%), Gabon (13.4%), and Chad (13.4%).

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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.