HS Icon Industrial Food Preperation Machinery

8438 (Harmonized System 1992 for 4-digit)

World Trade (2018): $14.7B, Rnk 249 / 1225

Top Exporter (2018): $2.78B, Germany

Top Importer (2018): $1.6B, United States

Product Complexity (2018): 0.71, Rnk 278 / 1018

Export Growth (CAGR)(2017 - 2018): 16%, Rnk 471 / 1225

Mean Tariff (2018): 4.56%, Rnk 895 / 1259

Share of World Trade (2018): 0.08%, Rnk 249 / 1225

Overview: In 2018, Industrial Food Preperation Machinery were the world's 249th most traded product, with a total trade of $14.7B. Between 2017 and 2018 the exports of Industrial Food Preperation Machinery grew by 16%, from  $12.7B to $14.7B. Trade in Industrial Food Preperation Machinery represent 0.08% of total world trade.

Exports: In 2018 the top exporters of Industrial Food Preperation Machinery  were Germany ($2.78B), Italy ($2.19B), Netherlands ($1.97B), China ($1.09B), and United States ($849M).

Imports: In 2018 the top importers of Industrial Food Preperation Machinery were United States ($1.6B), Russia ($762M), Germany ($624M), France ($552M), and Mexico ($511M).

Tariffs: In 2018 the average tariff for Industrial Food Preperation Machinery was 4.56%, been the 895 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Industrial Food Preperation Machinery are Bahamas (40.4%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Romania (12.3%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Industrial Food Preperation Machinery ranks 278th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $2.78B

Top Destination (2018): United States, $1.6B

Industrial Food Preperation Machinery are the world's 249th most traded product.

In 2018, the top exporters of Industrial Food Preperation Machinery were Germany ($2.78B), Italy ($2.19B), Netherlands ($1.97B), China ($1.09B), and United States ($849M).

In 2018, the top importers of Industrial Food Preperation Machinery were United States ($1.6B), Russia ($762M), Germany ($624M), France ($552M), and Mexico ($511M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Netherlands, $545M

Top Destination Growth (2017 - 2018): United States, $193M

Between 2017 and 2018, the exports of Industrial Food Preperation Machinery grew the fastest in Netherlands ($545M), Italy ($343M), Germany ($335M), China ($94.2M), and Belgium-Luxembourg ($82.2M).

Between 2017 and 2018, the fastest growing importers of Industrial Food Preperation Machinery were United States ($193M), Poland ($124M), Russia ($119M), China ($96.8M), and Mexico ($96.6M).

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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 Industrial Food Preperation Machinery.

In 2018,  market concentration measured using Shannon Entropy, was 4.23. This means that most of the exports of Industrial Food Preperation Machinery are explained by 18 countries.

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TOP NET EXPORTER (2018): Germany, $2.15B

TOP NET IMPORTER (2018): United States, $755M

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

In 2018, the countries that had a largest trade value in exports than in imports of Industrial Food Preperation Machinery were Germany ($2.15B), Italy ($1.89B), Netherlands ($1.55B), China ($629M), and Denmark ($524M).

In 2018, the countries that had a largest trade value in imports than in exports of Industrial Food Preperation Machinery were United States ($755M), Russia ($733M), Mexico ($471M), Indonesia ($266M), and United Kingdom ($238M).

Trade Forecasts

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This section shows forecasts for total trade for Industrial Food Preperation 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 Industrial Food Preperation Machinery was 4.56%.  The countries with the highest tariffs for importing Industrial Food Preperation Machinery were Bahamas (40.4%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Romania (12.3%).

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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.