HS Icon Parts, accessories nes, wood, plastic machine tools

846692 (Harmonized System 1992 for 6-digit)

World Trade (2018): $1.69B, Rnk 1490 / 4726

Top Exporter (2018): $330M, Germany

Top Importer (2018): $295M, United States

Product Complexity (2018): 0.96, Rnk 840 / 4873

Export Growth (CAGR)(2017 - 2018): 38.4%, Rnk 516 / 4726

Mean Tariff (2018): 4.16%, Rnk 4835 / 6538

Share of World Trade (2018): 0.0092%, Rnk 1490 / 4726

Overview:  This page contains the latest trade data of Parts, accessories nes, wood, plastic machine tools. In 2018, Parts, accessories nes, wood, plastic machine tools were the world's 1490th most traded product, with a total trade of $1.69B. Between 2017 and 2018 the exports of Parts, accessories nes, wood, plastic machine tools grew by 38.4%, from  $1.22B to $1.69B. Trade in Parts, accessories nes, wood, plastic machine tools represent 0.0092% of total world trade.

Exports: In 2018 the top exporters of Parts, accessories nes, wood, plastic machine tools  were Germany ($330M), Italy ($254M), China ($174M), Canada ($124M), and Chinese Taipei ($94.3M).

Imports: In 2018 the top importers of Parts, accessories nes, wood, plastic machine tools were United States ($295M), Germany ($277M), China ($70.5M), France ($60M), and Poland ($59.6M).

Tariffs: In 2018 the average tariff for Parts, accessories nes, wood, plastic machine tools was 4.16%, been the 4835 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Parts, accessories nes, wood, plastic machine tools are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Hungary (15%), and Cambodia (15%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Parts, accessories nes, wood, plastic machine tools ranks 840th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $330M

Top Destination (2018): United States, $295M

Parts, accessories nes, wood, plastic machine tools are the world's 1490th most traded product.

In 2018, the top exporters of Parts, accessories nes, wood, plastic machine tools were Germany ($330M), Italy ($254M), China ($174M), Canada ($124M), and Chinese Taipei ($94.3M).

In 2018, the top importers of Parts, accessories nes, wood, plastic machine tools were United States ($295M), Germany ($277M), China ($70.5M), France ($60M), and Poland ($59.6M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Canada, $117M

Top Destination Growth (2017 - 2018): United States, $295M

Between 2017 and 2018, the exports of Parts, accessories nes, wood, plastic machine tools grew the fastest in Canada ($117M), China ($78.6M), Italy ($62.8M), Chinese Taipei ($60.9M), and Poland ($28.3M).

Between 2017 and 2018, the fastest growing importers of Parts, accessories nes, wood, plastic machine tools were United States ($295M), Germany ($68.8M), Vietnam ($24.4M), Australia ($21.6M), and Russia ($16.2M).

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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 Parts, accessories nes, wood, plastic machine tools.

In 2018,  market concentration measured using Shannon Entropy, was 4.17. This means that most of the exports of Parts, accessories nes, wood, plastic machine tools are explained by 17 countries.

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TOP NET EXPORTER (2018): Italy, $209M

TOP NET IMPORTER (2018): United States, $223M

This map shows which countries export or import more of Parts, accessories nes, wood, plastic machine tools. Each country is colored based on the difference in exports and imports of Parts, accessories nes, wood, plastic machine tools during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Parts, accessories nes, wood, plastic machine tools were Italy ($209M), China ($103M), Canada ($98.1M), Chinese Taipei ($69.3M), and Germany ($52.9M).

In 2018, the countries that had a largest trade value in imports than in exports of Parts, accessories nes, wood, plastic machine tools were United States ($223M), Russia ($46.8M), France ($36M), Vietnam ($35M), and United Kingdom ($30.3M).

Trade Forecasts

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This section shows forecasts for total trade for Parts, accessories nes, wood, plastic machine tools. 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 Parts, accessories nes, wood, plastic machine tools was 4.16%.  The countries with the highest tariffs for importing Parts, accessories nes, wood, plastic machine tools were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Hungary (15%), 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.