HS Icon Industrial machinery nes for food, drink preparation

843880 (Harmonized System 1992 for 6-digit)

World Trade (2018): $2.87B, Rnk 1046 / 4726

Top Exporter (2018): $445M, Germany

Top Importer (2018): $257M, United States

Product Complexity (2018): 0.43, Rnk 1820 / 4873

Export Growth (CAGR)(2017 - 2018): 17.3%, Rnk 1633 / 4726

Mean Tariff (2018): 4.44%, Rnk 4577 / 6538

Share of World Trade (2018): 0.016%, Rnk 1046 / 4726

Overview:  This page contains the latest trade data of Industrial machinery nes for food, drink preparation. In 2018, Industrial machinery nes for food, drink preparation were the world's 1046th most traded product, with a total trade of $2.87B. Between 2017 and 2018 the exports of Industrial machinery nes for food, drink preparation grew by 17.3%, from  $2.45B to $2.87B. Trade in Industrial machinery nes for food, drink preparation represent 0.016% of total world trade.

Exports: In 2018 the top exporters of Industrial machinery nes for food, drink preparation  were Germany ($445M), Italy ($387M), China ($284M), Denmark ($199M), and United States ($179M).

Imports: In 2018 the top importers of Industrial machinery nes for food, drink preparation were United States ($257M), Russia ($225M), China ($112M), United Kingdom ($110M), and Germany ($107M).

Tariffs: In 2018 the average tariff for Industrial machinery nes for food, drink preparation was 4.44%, been the 4577 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Industrial machinery nes for food, drink preparation are Bahamas (40.2%), 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 machinery nes for food, drink preparation ranks 1820th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $445M

Top Destination (2018): United States, $257M

Industrial machinery nes for food, drink preparation are the world's 1046th most traded product.

In 2018, the top exporters of Industrial machinery nes for food, drink preparation were Germany ($445M), Italy ($387M), China ($284M), Denmark ($199M), and United States ($179M).

In 2018, the top importers of Industrial machinery nes for food, drink preparation were United States ($257M), Russia ($225M), China ($112M), United Kingdom ($110M), and Germany ($107M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $67.9M

Top Destination Growth (2017 - 2018): Russia, $109M

Between 2017 and 2018, the exports of Industrial machinery nes for food, drink preparation grew the fastest in Germany ($67.9M), Italy ($47.1M), Netherlands ($42.8M), France ($34.5M), and Switzerland ($32.7M).

Between 2017 and 2018, the fastest growing importers of Industrial machinery nes for food, drink preparation were Russia ($109M), Norway ($36.4M), Germany ($33.3M), France ($27.2M), and United Kingdom ($25.2M).

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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 machinery nes for food, drink preparation.

In 2018,  market concentration measured using Shannon Entropy, was 4.43. This means that most of the exports of Industrial machinery nes for food, drink preparation are explained by 21 countries.

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TOP NET EXPORTER (2018): Italy, $339M

TOP NET IMPORTER (2018): Russia, $221M

This map shows which countries export or import more of Industrial machinery nes for food, drink preparation. Each country is colored based on the difference in exports and imports of Industrial machinery nes for food, drink preparation during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Industrial machinery nes for food, drink preparation were Italy ($339M), Germany ($339M), China ($172M), Denmark ($162M), and Switzerland ($86.9M).

In 2018, the countries that had a largest trade value in imports than in exports of Industrial machinery nes for food, drink preparation were Russia ($221M), United States ($77.8M), Canada ($51.5M), United Kingdom ($45.4M), and Indonesia ($42.8M).

Trade Forecasts

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This section shows forecasts for total trade for Industrial machinery nes for food, drink preparation. 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 machinery nes for food, drink preparation was 4.44%.  The countries with the highest tariffs for importing Industrial machinery nes for food, drink preparation were Bahamas (40.2%), 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.