HS Icon Metal Finishing Machines

8460 (Harmonized System 1992 for 4-digit)

World Trade (2018): $5.34B, Rnk 480 / 1225

Top Exporter (2018): $1.21B, Germany

Top Importer (2018): $1.31B, China

Product Complexity (2018): 1.64, Rnk 28 / 1018

Export Growth (CAGR)(2017 - 2018): 25%, Rnk 232 / 1225

Mean Tariff (2018): 4.32%, Rnk 937 / 1259

Share of World Trade (2018): 0.029%, Rnk 480 / 1225

Overview: In 2018, Metal Finishing Machines were the world's 480th most traded product, with a total trade of $5.34B. Between 2017 and 2018 the exports of Metal Finishing Machines grew by 25%, from  $4.27B to $5.34B. Trade in Metal Finishing Machines represent 0.029% of total world trade.

Exports: In 2018 the top exporters of Metal Finishing Machines  were Germany ($1.21B), Japan ($842M), Switzerland ($803M), Czechia ($404M), and Chinese Taipei ($291M).

Imports: In 2018 the top importers of Metal Finishing Machines were China ($1.31B), Germany ($546M), United States ($505M), India ($211M), and South Korea ($185M).

Tariffs: In 2018 the average tariff for Metal Finishing Machines was 4.32%, been the 937 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Metal Finishing Machines are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Romania (12.6%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Metal Finishing Machines ranks 28th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $1.21B

Top Destination (2018): China, $1.31B

Metal Finishing Machines are the world's 480th most traded product.

In 2018, the top exporters of Metal Finishing Machines were Germany ($1.21B), Japan ($842M), Switzerland ($803M), Czechia ($404M), and Chinese Taipei ($291M).

In 2018, the top importers of Metal Finishing Machines were China ($1.31B), Germany ($546M), United States ($505M), India ($211M), and South Korea ($185M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $192M

Top Destination Growth (2017 - 2018): China, $249M

Between 2017 and 2018, the exports of Metal Finishing Machines grew the fastest in Germany ($192M), Switzerland ($192M), Japan ($174M), Czechia ($119M), and Chinese Taipei ($71.6M).

Between 2017 and 2018, the fastest growing importers of Metal Finishing Machines were China ($249M), Germany ($111M), India ($64.4M), Poland ($54.9M), and Italy ($53.8M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Metal Finishing Machines.

In 2018,  market concentration measured using Shannon Entropy, was 3.75. This means that most of the exports of Metal Finishing Machines are explained by 13 countries.

TOP NET EXPORTER (2018): Switzerland, $711M

TOP NET IMPORTER (2018): China, $1.04B

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

In 2018, the countries that had a largest trade value in exports than imports of Metal Finishing Machines were Switzerland ($711M), Japan ($678M), Germany ($666M), Czechia ($324M), and Chinese Taipei ($201M).

In 2018, the countries that had a largest trade value in imports than exports of Metal Finishing Machines were China ($1.04B), United States ($260M), India ($182M), Mexico ($151M), and Russia ($117M).

Trade Forecasts

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This section shows forecasts for total trade for Metal Finishing 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 Metal Finishing Machines was 4.32%.  The countries with the highest tariffs for importing Metal Finishing Machines were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Romania (12.6%).

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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.