HS Icon Woodworking machines

8465 (Harmonized System 1992 for 4-digit)

World Trade (2018): $8.61B, Rnk 365 / 1225

Top Exporter (2018): $2.07B, Germany

Top Importer (2018): $1.4B, United States

Product Complexity (2018): 0.93, Rnk 195 / 1018

Export Growth (CAGR)(2017 - 2018): 17.4%, Rnk 409 / 1225

Mean Tariff (2018): 4.78%, Rnk 860 / 1259

Share of World Trade (2018): 0.047%, Rnk 365 / 1225

Overview: In 2018, Woodworking machines were the world's 365th most traded product, with a total trade of $8.61B. Between 2017 and 2018 the exports of Woodworking machines grew by 17.4%, from  $7.33B to $8.61B. Trade in Woodworking machines represent 0.047% of total world trade.

Exports: In 2018 the top exporters of Woodworking machines  were Germany ($2.07B), China ($1.7B), Italy ($1.38B), Chinese Taipei ($623M), and Austria ($466M).

Imports: In 2018 the top importers of Woodworking machines were United States ($1.4B), Germany ($614M), China ($600M), France ($350M), and Poland ($334M).

Tariffs: In 2018 the average tariff for Woodworking machines was 4.78%, been the 860 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Woodworking machines are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Tunisia (17.1%), and Romania (15.9%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Woodworking machines ranks 195th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $2.07B

Top Destination (2018): United States, $1.4B

Woodworking machines are the world's 365th most traded product.

In 2018, the top exporters of Woodworking machines were Germany ($2.07B), China ($1.7B), Italy ($1.38B), Chinese Taipei ($623M), and Austria ($466M).

In 2018, the top importers of Woodworking machines were United States ($1.4B), Germany ($614M), China ($600M), France ($350M), and Poland ($334M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $366M

Top Destination Growth (2017 - 2018): Germany, $172M

Between 2017 and 2018, the exports of Woodworking machines grew the fastest in Germany ($366M), Italy ($201M), China ($166M), Austria ($129M), and Finland ($44.4M).

Between 2017 and 2018, the fastest growing importers of Woodworking machines were Germany ($172M), Vietnam ($107M), Poland ($103M), United States ($97.6M), and France ($72.2M).

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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 Woodworking machines.

In 2018,  market concentration measured using Shannon Entropy, was 3.76. This means that most of the exports of Woodworking machines are explained by 13 countries.

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TOP NET EXPORTER (2018): Germany, $1.45B

TOP NET IMPORTER (2018): United States, $1.2B

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

In 2018, the countries that had a largest trade value in exports than in imports of Woodworking machines were Germany ($1.45B), Italy ($1.17B), China ($1.1B), Chinese Taipei ($574M), and Austria ($251M).

In 2018, the countries that had a largest trade value in imports than in exports of Woodworking machines were United States ($1.2B), Russia ($310M), Vietnam ($280M), France ($269M), and United Kingdom ($210M).

Trade Forecasts

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This section shows forecasts for total trade for Woodworking 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 Woodworking machines was 4.78%.  The countries with the highest tariffs for importing Woodworking machines were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Tunisia (17.1%), and Romania (15.9%).

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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.