HS Icon Metalworking Machine Parts

8466 (Harmonized System 1992 for 4-digit)

World Trade (2018): $20.7B, Rnk 180 / 1225

Top Exporter (2018): $4.16B, Germany

Top Importer (2018): $2.66B, United States

Product Complexity (2018): 1.5, Rnk 47 / 1018

Export Growth (CAGR)(2017 - 2018): 30.8%, Rnk 166 / 1225

Mean Tariff (2018): 3.94%, Rnk 1005 / 1259

Share of World Trade (2018): 0.11%, Rnk 180 / 1225

Overview: In 2018, Metalworking Machine Parts were the world's 180th most traded product, with a total trade of $20.7B. Between 2017 and 2018 the exports of Metalworking Machine Parts grew by 30.8%, from  $15.8B to $20.7B. Trade in Metalworking Machine Parts represent 0.11% of total world trade.

Exports: In 2018 the top exporters of Metalworking Machine Parts  were Germany ($4.16B), Japan ($2.01B), United States ($1.91B), Italy ($1.68B), and China ($1.51B).

Imports: In 2018 the top importers of Metalworking Machine Parts were United States ($2.66B), China ($2.43B), Germany ($2.34B), Japan ($922M), and France ($732M).

Tariffs: In 2018 the average tariff for Metalworking Machine Parts was 3.94%, been the 1005 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Metalworking Machine Parts are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Brazil (12.6%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Metalworking Machine Parts ranks 47th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $4.16B

Top Destination (2018): United States, $2.66B

Metalworking Machine Parts are the world's 180th most traded product.

In 2018, the top exporters of Metalworking Machine Parts were Germany ($4.16B), Japan ($2.01B), United States ($1.91B), Italy ($1.68B), and China ($1.51B).

In 2018, the top importers of Metalworking Machine Parts were United States ($2.66B), China ($2.43B), Germany ($2.34B), Japan ($922M), and France ($732M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $888M

Top Destination Growth (2017 - 2018): United States, $2.04B

Between 2017 and 2018, the exports of Metalworking Machine Parts grew the fastest in United States ($888M), Germany ($529M), Italy ($481M), Japan ($455M), and Canada ($304M).

Between 2017 and 2018, the fastest growing importers of Metalworking Machine Parts were United States ($2.04B), Mexico ($472M), Germany ($436M), China ($343M), and Singapore ($237M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Metalworking Machine Parts.

In 2018,  market concentration measured using Shannon Entropy, was 4.33. This means that most of the exports of Metalworking Machine Parts are explained by 20 countries.

TOP NET EXPORTER (2018): Germany, $1.82B

TOP NET IMPORTER (2018): China, $921M

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

In 2018, the countries that had a largest trade value in exports than imports of Metalworking Machine Parts were Germany ($1.82B), Japan ($1.08B), Italy ($992M), Chinese Taipei ($862M), and Switzerland ($491M).

In 2018, the countries that had a largest trade value in imports than exports of Metalworking Machine Parts were China ($921M), United States ($753M), Mexico ($626M), Russia ($316M), and India ($310M).

Trade Forecasts

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This section shows forecasts for total trade for Metalworking Machine Parts. 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 Machine Parts was 3.94%.  The countries with the highest tariffs for importing Metalworking Machine Parts were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Brazil (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.