HS Icon Rubberworking Machinery

8477 (Harmonized System 1992 for 4-digit)

World Trade (2018): $28.9B, Rnk 131 / 1225

Top Exporter (2018): $6.43B, Germany

Top Importer (2018): $3.66B, United States

Product Complexity (2018): 1.3, Rnk 81 / 1018

Export Growth (CAGR)(2017 - 2018): 9.79%, Rnk 785 / 1225

Mean Tariff (2018): 3.72%, Rnk 1048 / 1259

Share of World Trade (2018): 0.16%, Rnk 131 / 1225

Overview: In 2018, Rubberworking Machinery were the world's 131st most traded product, with a total trade of $28.9B. Between 2017 and 2018 the exports of Rubberworking Machinery grew by 9.79%, from  $26.3B to $28.9B. Trade in Rubberworking Machinery represent 0.16% of total world trade.

Exports: In 2018 the top exporters of Rubberworking Machinery  were Germany ($6.43B), China ($4.53B), Japan ($2.68B), Italy ($2.46B), and Austria ($2.2B).

Imports: In 2018 the top importers of Rubberworking Machinery were United States ($3.66B), China ($3.33B), Germany ($1.75B), Mexico ($1.38B), and India ($1B).

Tariffs: In 2018 the average tariff for Rubberworking Machinery was 3.72%, been the 1048 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Rubberworking Machinery are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (14.3%), and Venezuela (12%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Rubberworking Machinery ranks 81st in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $6.43B

Top Destination (2018): United States, $3.66B

Rubberworking Machinery are the world's 131st most traded product.

In 2018, the top exporters of Rubberworking Machinery were Germany ($6.43B), China ($4.53B), Japan ($2.68B), Italy ($2.46B), and Austria ($2.2B).

In 2018, the top importers of Rubberworking Machinery were United States ($3.66B), China ($3.33B), Germany ($1.75B), Mexico ($1.38B), and India ($1B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $521M

Top Destination Growth (2017 - 2018): China, $399M

Between 2017 and 2018, the exports of Rubberworking Machinery grew the fastest in Germany ($521M), Austria ($455M), Chinese Taipei ($327M), Italy ($222M), and United States ($206M).

Between 2017 and 2018, the fastest growing importers of Rubberworking Machinery were China ($399M), Thailand ($269M), Poland ($232M), Germany ($202M), and Spain ($163M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Rubberworking Machinery.

In 2018,  market concentration measured using Shannon Entropy, was 3.99. This means that most of the exports of Rubberworking Machinery are explained by 15 countries.

TOP NET EXPORTER (2018): Germany, $4.68B

TOP NET IMPORTER (2018): United States, $2.3B

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

In 2018, the countries that had a largest trade value in exports than imports of Rubberworking Machinery were Germany ($4.68B), Japan ($2.04B), Austria ($1.77B), Italy ($1.73B), and China ($1.2B).

In 2018, the countries that had a largest trade value in imports than exports of Rubberworking Machinery were United States ($2.3B), Mexico ($1.31B), Vietnam ($811M), Thailand ($699M), and India ($649M).

Trade Forecasts

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This section shows forecasts for total trade for Rubberworking Machinery. 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 Rubberworking Machinery was 3.72%.  The countries with the highest tariffs for importing Rubberworking Machinery were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (14.3%), and Venezuela (12%).

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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.