HS Icon Knitting Machines

8447 (Harmonized System 1992 for 4-digit)

World Trade (2018): $2.94B, Rnk 631 / 1225

Top Exporter (2018): $968M, China

Top Importer (2018): $300M, Turkey

Product Complexity (2018): 1.1, Rnk 143 / 1018

Export Growth (CAGR)(2017 - 2018): -11%, Rnk 1183 / 1225

Mean Tariff (2018): 3.88%, Rnk 1023 / 1259

Share of World Trade (2018): 0.016%, Rnk 631 / 1225

Overview: In 2018, Knitting Machines were the world's 631st most traded product, with a total trade of $2.94B. Between 2017 and 2018 the exports of Knitting Machines decreased by -11%, from  $3.31B to $2.94B. Trade in Knitting Machines represent 0.016% of total world trade.

Exports: In 2018 the top exporters of Knitting Machines  were China ($968M), Japan ($596M), Germany ($475M), Italy ($264M), and Chinese Taipei ($187M).

Imports: In 2018 the top importers of Knitting Machines were Turkey ($300M), China ($283M), India ($276M), Vietnam ($272M), and Bangladesh ($265M).

Tariffs: In 2018 the average tariff for Knitting Machines was 3.88%, been the 1023 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Knitting Machines are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Romania (12.9%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Knitting Machines ranks 143rd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $968M

Top Destination (2018): Turkey, $300M

Knitting Machines are the world's 631st most traded product.

In 2018, the top exporters of Knitting Machines were China ($968M), Japan ($596M), Germany ($475M), Italy ($264M), and Chinese Taipei ($187M).

In 2018, the top importers of Knitting Machines were Turkey ($300M), China ($283M), India ($276M), Vietnam ($272M), and Bangladesh ($265M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Chinese Taipei, $54.6M

Top Destination Growth (2017 - 2018): Vietnam, $30.8M

Between 2017 and 2018, the exports of Knitting Machines grew the fastest in Chinese Taipei ($54.6M), Italy ($41.2M), Mexico ($7.51M), Czechia ($6.36M), and United Kingdom ($4.18M).

Between 2017 and 2018, the fastest growing importers of Knitting Machines were Vietnam ($30.8M), Turkey ($23M), Pakistan ($21.6M), Indonesia ($17.4M), and Uzbekistan ($15.7M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Knitting Machines.

In 2018,  market concentration measured using Shannon Entropy, was 3.06. This means that most of the exports of Knitting Machines are explained by 8 countries.

TOP NET EXPORTER (2018): China, $685M

TOP NET IMPORTER (2018): Turkey, $282M

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

In 2018, the countries that had a largest trade value in exports than imports of Knitting Machines were China ($685M), Japan ($565M), Germany ($429M), Italy ($170M), and Chinese Taipei ($140M).

In 2018, the countries that had a largest trade value in imports than exports of Knitting Machines were Turkey ($282M), India ($273M), Bangladesh ($265M), Vietnam ($255M), and United States ($106M).

Trade Forecasts

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This section shows forecasts for total trade for Knitting Machines. 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 Knitting Machines was 3.88%.  The countries with the highest tariffs for importing Knitting Machines were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Romania (12.9%).

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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.