HS Icon Forging Machines

8462 (Harmonized System 1992 for 4-digit)

World Trade (2018): $10.5B, Rnk 318 / 1225

Top Exporter (2018): $1.53B, Germany

Top Importer (2018): $1.27B, United States

Product Complexity (2018): 1.44, Rnk 56 / 1018

Export Growth (CAGR)(2017 - 2018): 16.5%, Rnk 455 / 1225

Mean Tariff (2018): 4.8%, Rnk 854 / 1259

Share of World Trade (2018): 0.057%, Rnk 318 / 1225

Overview: In 2018, Forging Machines were the world's 318th most traded product, with a total trade of $10.5B. Between 2017 and 2018 the exports of Forging Machines grew by 16.5%, from  $9B to $10.5B. Trade in Forging Machines represent 0.057% of total world trade.

Exports: In 2018 the top exporters of Forging Machines  were Germany ($1.53B), Italy ($1.44B), Japan ($1.13B), China ($1.1B), and United States ($645M).

Imports: In 2018 the top importers of Forging Machines were United States ($1.27B), China ($1.24B), Germany ($659M), Mexico ($601M), and India ($515M).

Tariffs: In 2018 the average tariff for Forging Machines was 4.8%, been the 854 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Forging Machines are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Romania (15.3%), and Cambodia (15%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Forging Machines ranks 56th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $1.53B

Top Destination (2018): United States, $1.27B

Forging Machines are the world's 318th most traded product.

In 2018, the top exporters of Forging Machines were Germany ($1.53B), Italy ($1.44B), Japan ($1.13B), China ($1.1B), and United States ($645M).

In 2018, the top importers of Forging Machines were United States ($1.27B), China ($1.24B), Germany ($659M), Mexico ($601M), and India ($515M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Italy, $283M

Top Destination Growth (2017 - 2018): Germany, $169M

Between 2017 and 2018, the exports of Forging Machines grew the fastest in Italy ($283M), China ($267M), Chinese Taipei ($223M), United States ($155M), and Belgium-Luxembourg ($105M).

Between 2017 and 2018, the fastest growing importers of Forging Machines were Germany ($169M), United States ($149M), India ($112M), Poland ($102M), and Italy ($87.3M).

Market Concentration

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Cumulative market share

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

In 2018,  market concentration measured using Shannon Entropy, was 4.28. This means that most of the exports of Forging Machines are explained by 19 countries.

TOP NET EXPORTER (2018): Italy, $1.16B

TOP NET IMPORTER (2018): United States, $629M

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

In 2018, the countries that had a largest trade value in exports than imports of Forging Machines were Italy ($1.16B), Japan ($955M), Germany ($875M), Chinese Taipei ($382M), and South Korea ($305M).

In 2018, the countries that had a largest trade value in imports than exports of Forging Machines were United States ($629M), Mexico ($563M), India ($465M), Poland ($271M), and Vietnam ($253M).

Trade Forecasts

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This section shows forecasts for total trade for Forging 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 Forging Machines was 4.8%.  The countries with the highest tariffs for importing Forging Machines were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Romania (15.3%), 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.