HS Icon Leather Machinery

8453 (Harmonized System 1992 for 4-digit)

World Trade (2018): $1.25B, Rnk 855 / 1225

Top Exporter (2018): $486M, Italy

Top Importer (2018): $241M, Vietnam

Product Complexity (2018): 0.6, Rnk 330 / 1018

Export Growth (CAGR)(2017 - 2018): 12.8%, Rnk 629 / 1225

Mean Tariff (2018): 3.99%, Rnk 996 / 1259

Share of World Trade (2018): 0.0068%, Rnk 855 / 1225

Overview: In 2018, Leather Machinery were the world's 855th most traded product, with a total trade of $1.25B. Between 2017 and 2018 the exports of Leather Machinery grew by 12.8%, from  $1.1B to $1.25B. Trade in Leather Machinery represent 0.0068% of total world trade.

Exports: In 2018 the top exporters of Leather Machinery  were Italy ($486M), China ($309M), Chinese Taipei ($100M), South Korea ($87.2M), and Germany ($66.9M).

Imports: In 2018 the top importers of Leather Machinery were Vietnam ($241M), Indonesia ($97.1M), China ($72.3M), India ($59.4M), and Mexico ($51.3M).

Tariffs: In 2018 the average tariff for Leather Machinery was 3.99%, been the 996 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Leather Machinery are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Venezuela (13.4%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Leather Machinery ranks 330th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Italy, $486M

Top Destination (2018): Vietnam, $241M

Leather Machinery are the world's 855th most traded product.

In 2018, the top exporters of Leather Machinery were Italy ($486M), China ($309M), Chinese Taipei ($100M), South Korea ($87.2M), and Germany ($66.9M).

In 2018, the top importers of Leather Machinery were Vietnam ($241M), Indonesia ($97.1M), China ($72.3M), India ($59.4M), and Mexico ($51.3M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $58.4M

Top Destination Growth (2017 - 2018): Vietnam, $86.4M

Between 2017 and 2018, the exports of Leather Machinery grew the fastest in China ($58.4M), Italy ($50.3M), Chinese Taipei ($42.1M), South Korea ($18.8M), and Germany ($7.73M).

Between 2017 and 2018, the fastest growing importers of Leather Machinery were Vietnam ($86.4M), Germany ($17.3M), Uzbekistan ($12.2M), Cambodia ($10.1M), and Thailand ($9.34M).

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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 Leather Machinery.

In 2018,  market concentration measured using Shannon Entropy, was 3.01. This means that most of the exports of Leather Machinery are explained by 8 countries.

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TOP NET EXPORTER (2018): Italy, $447M

TOP NET IMPORTER (2018): Vietnam, $237M

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

In 2018, the countries that had a largest trade value in exports than in imports of Leather Machinery were Italy ($447M), China ($237M), Chinese Taipei ($93.3M), South Korea ($77.3M), and Germany ($30.4M).

In 2018, the countries that had a largest trade value in imports than in exports of Leather Machinery were Vietnam ($237M), Indonesia ($93.5M), India ($57.2M), Mexico ($48.6M), and United States ($28.9M).

Trade Forecasts

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This section shows forecasts for total trade for Leather 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 Leather Machinery was 3.99%.  The countries with the highest tariffs for importing Leather Machinery were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Venezuela (13.4%).

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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.