HS Icon Dairy Machinery

8434 (Harmonized System 1992 for 4-digit)

World Trade (2018): $2.18B, Rnk 716 / 1225

Top Exporter (2018): $375M, Netherlands

Top Importer (2018): $204M, Germany

Product Complexity (2018): 0.67, Rnk 295 / 1018

Export Growth (CAGR)(2017 - 2018): 11.4%, Rnk 702 / 1225

Mean Tariff (2018): 3.65%, Rnk 1059 / 1259

Share of World Trade (2018): 0.012%, Rnk 716 / 1225

Overview: In 2018, Dairy Machinery were the world's 716th most traded product, with a total trade of $2.18B. Between 2017 and 2018 the exports of Dairy Machinery grew by 11.4%, from  $1.96B to $2.18B. Trade in Dairy Machinery represent 0.012% of total world trade.

Exports: In 2018 the top exporters of Dairy Machinery  were Netherlands ($375M), Germany ($230M), Sweden ($213M), Denmark ($164M), and Italy ($133M).

Imports: In 2018 the top importers of Dairy Machinery were Germany ($204M), United States ($150M), France ($139M), Russia ($106M), and Netherlands ($98.1M).

Tariffs: In 2018 the average tariff for Dairy Machinery was 3.65%, been the 1059 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Dairy Machinery are Bahamas (40.2%), Maldives (19.6%), Cambodia (15%), Venezuela (13.4%), and Brazil (13.4%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Dairy Machinery ranks 295th in the Product Complexity Index (PCI).

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2018): Netherlands, $375M

Top Destination (2018): Germany, $204M

Dairy Machinery are the world's 716th most traded product.

In 2018, the top exporters of Dairy Machinery were Netherlands ($375M), Germany ($230M), Sweden ($213M), Denmark ($164M), and Italy ($133M).

In 2018, the top importers of Dairy Machinery were Germany ($204M), United States ($150M), France ($139M), Russia ($106M), and Netherlands ($98.1M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2017 -  2018): Netherlands, $56.4M

Top Destination Growth (2017 - 2018): Germany, $48.4M

Between 2017 and 2018, the exports of Dairy Machinery grew the fastest in Netherlands ($56.4M), Sweden ($37.2M), Spain ($27.9M), United States ($21.4M), and Italy ($19.5M).

Between 2017 and 2018, the fastest growing importers of Dairy Machinery were Germany ($48.4M), Hungary ($16.8M), Ireland ($16.1M), France ($15.7M), and Russia ($15.5M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

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

In 2018,  market concentration measured using Shannon Entropy, was 4.36. This means that most of the exports of Dairy Machinery are explained by 20 countries.

Explore Visualizations

TOP NET EXPORTER (2018): Netherlands, $277M

TOP NET IMPORTER (2018): Russia, $95.9M

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

In 2018, the countries that had a largest trade value in exports than in imports of Dairy Machinery were Netherlands ($277M), Sweden ($169M), Denmark ($100M), Israel ($78.5M), and Poland ($77M).

In 2018, the countries that had a largest trade value in imports than in exports of Dairy Machinery were Russia ($95.9M), Canada ($68.8M), Japan ($56.9M), France ($52.4M), and Belarus ($34.3M).

Trade Forecasts

#permalink to section

This section shows forecasts for total trade for Dairy 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 Dairy Machinery was 3.65%.  The countries with the highest tariffs for importing Dairy Machinery were Bahamas (40.2%), Maldives (19.6%), Cambodia (15%), 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.