HS Icon Metalworking Machines

8461 (Harmonized System 1992 for 4-digit)

World Trade (2018): $2.75B, Rnk 651 / 1225

Top Exporter (2018): $828M, Germany

Top Importer (2018): $548M, China

Product Complexity (2018): 2.02, Rnk 8 / 1018

Export Growth (CAGR)(2017 - 2018): 21.9%, Rnk 296 / 1225

Mean Tariff (2018): 4.57%, Rnk 894 / 1259

Share of World Trade (2018): 0.015%, Rnk 651 / 1225

Overview: In 2018, Metalworking Machines were the world's 651st most traded product, with a total trade of $2.75B. Between 2017 and 2018 the exports of Metalworking Machines grew by 21.9%, from  $2.25B to $2.75B. Trade in Metalworking Machines represent 0.015% of total world trade.

Exports: In 2018 the top exporters of Metalworking Machines  were Germany ($828M), Japan ($303M), China ($299M), Switzerland ($249M), and Italy ($211M).

Imports: In 2018 the top importers of Metalworking Machines were China ($548M), United States ($311M), India ($149M), Germany ($136M), and Italy ($117M).

Tariffs: In 2018 the average tariff for Metalworking Machines was 4.57%, been the 894 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Metalworking Machines are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Romania (16.8%), and Cambodia (15%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Metalworking Machines ranks 8th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $828M

Top Destination (2018): China, $548M

Metalworking Machines are the world's 651st most traded product.

In 2018, the top exporters of Metalworking Machines were Germany ($828M), Japan ($303M), China ($299M), Switzerland ($249M), and Italy ($211M).

In 2018, the top importers of Metalworking Machines were China ($548M), United States ($311M), India ($149M), Germany ($136M), and Italy ($117M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $126M

Top Destination Growth (2017 - 2018): China, $66.4M

Between 2017 and 2018, the exports of Metalworking Machines grew the fastest in Germany ($126M), Switzerland ($54.8M), Japan ($44.6M), China ($43.9M), and United States ($41.2M).

Between 2017 and 2018, the fastest growing importers of Metalworking Machines were China ($66.4M), India ($64.6M), United States ($43.4M), Italy ($41M), and Germany ($40.9M).

Market Concentration

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Cumulative market share

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

In 2018,  market concentration measured using Shannon Entropy, was 3.62. This means that most of the exports of Metalworking Machines are explained by 12 countries.

TOP NET EXPORTER (2018): Germany, $692M

TOP NET IMPORTER (2018): China, $248M

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

In 2018, the countries that had a largest trade value in exports than imports of Metalworking Machines were Germany ($692M), Japan ($227M), Switzerland ($227M), Chinese Taipei ($146M), and Italy ($93.5M).

In 2018, the countries that had a largest trade value in imports than exports of Metalworking Machines were China ($248M), United States ($142M), India ($128M), Mexico ($92.9M), and Russia ($82.2M).

Trade Forecasts

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This section shows forecasts for total trade for Metalworking 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 Metalworking Machines was 4.57%.  The countries with the highest tariffs for importing Metalworking Machines were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Romania (16.8%), and Cambodia (15%).

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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.