HS Icon Parts of agricultural machinery

843390 (Harmonized System 1992 for 6-digit)

World Trade (2018): $5.57B, Rnk 577 / 4726

Top Exporter (2018): $851M, Germany

Top Importer (2018): $1.03B, United States

Product Complexity (2018): 0.71, Rnk 1282 / 4873

Export Growth (CAGR)(2017 - 2018): 11%, Rnk 2525 / 4726

Mean Tariff (2018): 3.99%, Rnk 4979 / 6538

Share of World Trade (2018): 0.03%, Rnk 577 / 4726

Overview:  This page contains the latest trade data of Parts of agricultural machinery. In 2018, Parts of agricultural machinery were the world's 577th most traded product, with a total trade of $5.57B. Between 2017 and 2018 the exports of Parts of agricultural machinery grew by 11%, from  $5.02B to $5.57B. Trade in Parts of agricultural machinery represent 0.03% of total world trade.

Exports: In 2018 the top exporters of Parts of agricultural machinery  were Germany ($851M), United States ($542M), China ($522M), Belgium-Luxembourg ($451M), and Canada ($406M).

Imports: In 2018 the top importers of Parts of agricultural machinery were United States ($1.03B), Germany ($645M), France ($406M), United Kingdom ($318M), and Belgium-Luxembourg ($258M).

Tariffs: In 2018 the average tariff for Parts of agricultural machinery was 3.99%, been the 4979 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Parts of agricultural machinery are Bahamas (31.2%), Maldives (19.6%), Malaysia (15%), Argentina (14.3%), and Brazil (14.3%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mozambique (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Parts of agricultural machinery ranks 1282nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $851M

Top Destination (2018): United States, $1.03B

Parts of agricultural machinery are the world's 577th most traded product.

In 2018, the top exporters of Parts of agricultural machinery were Germany ($851M), United States ($542M), China ($522M), Belgium-Luxembourg ($451M), and Canada ($406M).

In 2018, the top importers of Parts of agricultural machinery were United States ($1.03B), Germany ($645M), France ($406M), United Kingdom ($318M), and Belgium-Luxembourg ($258M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Belgium-Luxembourg, $227M

Top Destination Growth (2017 - 2018): Brazil, $114M

Between 2017 and 2018, the exports of Parts of agricultural machinery grew the fastest in Belgium-Luxembourg ($227M), Canada ($134M), Czechia ($89.8M), Poland ($77.8M), and Hungary ($58.3M).

Between 2017 and 2018, the fastest growing importers of Parts of agricultural machinery were Brazil ($114M), United States ($114M), Austria ($88.1M), France ($84.7M), and Germany ($82.9M).

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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 agricultural machinery.

In 2018,  market concentration measured using Shannon Entropy, was 4.41. This means that most of the exports of Parts of agricultural machinery are explained by 21 countries.

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TOP NET EXPORTER (2018): China, $419M

TOP NET IMPORTER (2018): United States, $484M

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

In 2018, the countries that had a largest trade value in exports than in imports of Parts of agricultural machinery were China ($419M), Canada ($361M), Germany ($206M), Hungary ($198M), and Belgium-Luxembourg ($192M).

In 2018, the countries that had a largest trade value in imports than in exports of Parts of agricultural machinery were United States ($484M), United Kingdom ($198M), Russia ($181M), France ($150M), and Austria ($142M).

Trade Forecasts

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This section shows forecasts for total trade for Parts of agricultural 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 Parts of agricultural machinery was 3.99%.  The countries with the highest tariffs for importing Parts of agricultural machinery were Bahamas (31.2%), Maldives (19.6%), Malaysia (15%), Argentina (14.3%), and Brazil (14.3%).

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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.