HS Icon Machines and mechanical appliances nes

847989 (Harmonized System 1992 for 6-digit)

World Trade (2018): $74.1B, Rnk 25 / 4726

Top Exporter (2018): $15.2B, Japan

Top Importer (2018): $21.4B, China

Product Complexity (2018): 2.14, Rnk 34 / 4873

Export Growth (CAGR)(2017 - 2018): 10.9%, Rnk 2542 / 4726

Mean Tariff (2018): 4.14%, Rnk 4845 / 6538

Share of World Trade (2018): 0.4%, Rnk 25 / 4726

Overview:  This page contains the latest trade data of Machines and mechanical appliances nes. In 2018, Machines and mechanical appliances nes were the world's 25th most traded product, with a total trade of $74.1B. Between 2017 and 2018 the exports of Machines and mechanical appliances nes grew by 10.9%, from  $66.9B to $74.1B. Trade in Machines and mechanical appliances nes represent 0.4% of total world trade.

Exports: In 2018 the top exporters of Machines and mechanical appliances nes  were Japan ($15.2B), Germany ($11.6B), South Korea ($10.3B), China ($6.07B), and United States ($4.86B).

Imports: In 2018 the top importers of Machines and mechanical appliances nes were China ($21.4B), United States ($7.36B), Germany ($3.51B), South Korea ($2.79B), and Chinese Taipei ($2.37B).

Tariffs: In 2018 the average tariff for Machines and mechanical appliances nes was 4.14%, been the 4845 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Machines and mechanical appliances nes are Bahamas (40.2%), Sudan (35%), Maldives (19.6%), Iran (18.4%), and Ethiopia (18.2%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Machines and mechanical appliances nes ranks 34th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Japan, $15.2B

Top Destination (2018): China, $21.4B

Machines and mechanical appliances nes are the world's 25th most traded product.

In 2018, the top exporters of Machines and mechanical appliances nes were Japan ($15.2B), Germany ($11.6B), South Korea ($10.3B), China ($6.07B), and United States ($4.86B).

In 2018, the top importers of Machines and mechanical appliances nes were China ($21.4B), United States ($7.36B), Germany ($3.51B), South Korea ($2.79B), and Chinese Taipei ($2.37B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $2.52B

Top Destination Growth (2017 - 2018): China, $2.97B

Between 2017 and 2018, the exports of Machines and mechanical appliances nes grew the fastest in Germany ($2.52B), South Korea ($1.75B), Singapore ($1.35B), China ($604M), and Italy ($498M).

Between 2017 and 2018, the fastest growing importers of Machines and mechanical appliances nes were China ($2.97B), United States ($1.09B), Poland ($722M), Chinese Taipei ($589M), and Singapore ($576M).

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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 Machines and mechanical appliances nes.

In 2018,  market concentration measured using Shannon Entropy, was 4.03. This means that most of the exports of Machines and mechanical appliances nes are explained by 16 countries.

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TOP NET EXPORTER (2018): Japan, $13.5B

TOP NET IMPORTER (2018): China, $15.4B

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

In 2018, the countries that had a largest trade value in exports than in imports of Machines and mechanical appliances nes were Japan ($13.5B), Germany ($8.07B), South Korea ($7.53B), Italy ($2.31B), and Singapore ($2.05B).

In 2018, the countries that had a largest trade value in imports than in exports of Machines and mechanical appliances nes were China ($15.4B), United States ($2.5B), Vietnam ($1.56B), Mexico ($1.17B), and Russia ($1.15B).

Trade Forecasts

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This section shows forecasts for total trade for Machines and mechanical appliances nes. 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 Machines and mechanical appliances nes was 4.14%.  The countries with the highest tariffs for importing Machines and mechanical appliances nes were Bahamas (40.2%), Sudan (35%), Maldives (19.6%), Iran (18.4%), and Ethiopia (18.2%).

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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.