HS Icon Knitting Machine Accessories

8448 (Harmonized System 1992 for 4-digit)

World Trade (2018): $5.52B, Rnk 475 / 1225

Top Exporter (2018): $1.2B, Germany

Top Importer (2018): $998M, China

Product Complexity (2018): 1.44, Rnk 59 / 1018

Export Growth (CAGR)(2017 - 2018): 16.7%, Rnk 443 / 1225

Mean Tariff (2018): 3.91%, Rnk 1017 / 1259

Share of World Trade (2018): 0.03%, Rnk 475 / 1225

Overview:  This page contains the latest trade data of Knitting Machine Accessories. In 2018, Knitting Machine Accessories were the world's 475th most traded product, with a total trade of $5.52B. Between 2017 and 2018 the exports of Knitting Machine Accessories grew by 16.7%, from  $4.72B to $5.52B. Trade in Knitting Machine Accessories represent 0.03% of total world trade.

Exports: In 2018 the top exporters of Knitting Machine Accessories  were Germany ($1.2B), China ($709M), Italy ($454M), France ($442M), and Switzerland ($421M).

Imports: In 2018 the top importers of Knitting Machine Accessories were China ($998M), Germany ($472M), India ($418M), United States ($262M), and Italy ($259M).

Tariffs: In 2018 the average tariff for Knitting Machine Accessories was 3.91%, been the 1017 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Knitting Machine Accessories 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 Machine Accessories ranks 59th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $1.2B

Top Destination (2018): China, $998M

Knitting Machine Accessories are the world's 475th most traded product.

In 2018, the top exporters of Knitting Machine Accessories were Germany ($1.2B), China ($709M), Italy ($454M), France ($442M), and Switzerland ($421M).

In 2018, the top importers of Knitting Machine Accessories were China ($998M), Germany ($472M), India ($418M), United States ($262M), and Italy ($259M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $277M

Top Destination Growth (2017 - 2018): United States, $191M

Between 2017 and 2018, the exports of Knitting Machine Accessories grew the fastest in Germany ($277M), China ($117M), Chinese Taipei ($76.4M), Italy ($57.5M), and Portugal ($55M).

Between 2017 and 2018, the fastest growing importers of Knitting Machine Accessories were United States ($191M), China ($162M), Vietnam ($58.5M), Singapore ($54.9M), and Netherlands ($50M).

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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 Knitting Machine Accessories.

In 2018,  market concentration measured using Shannon Entropy, was 4.06. This means that most of the exports of Knitting Machine Accessories are explained by 16 countries.

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TOP NET EXPORTER (2018): Germany, $731M

TOP NET IMPORTER (2018): China, $289M

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

In 2018, the countries that had a largest trade value in exports than in imports of Knitting Machine Accessories were Germany ($731M), France ($376M), Switzerland ($290M), Czechia ($203M), and Italy ($195M).

In 2018, the countries that had a largest trade value in imports than in exports of Knitting Machine Accessories were China ($289M), India ($234M), Turkey ($154M), United States ($145M), and Vietnam ($132M).

Trade Forecasts

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This section shows forecasts for total trade for Knitting Machine Accessories. 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 Machine Accessories was 3.91%.  The countries with the highest tariffs for importing Knitting Machine Accessories 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.