HS Icon Valves

8481 (Harmonized System 1992 for 4-digit)

World Trade (2018): $92.7B, Rnk 25 / 1225

Top Exporter (2018): $17B, China

Top Importer (2018): $15.2B, United States

Product Complexity (2018): 1.47, Rnk 52 / 1018

Export Growth (CAGR)(2017 - 2018): 10.6%, Rnk 743 / 1225

Mean Tariff (2018): 6.27%, Rnk 669 / 1259

Share of World Trade (2018): 0.5%, Rnk 25 / 1225

Overview: In 2018, Valves were the world's 25th most traded product, with a total trade of $92.7B. Between 2017 and 2018 the exports of Valves grew by 10.6%, from  $83.8B to $92.7B. Trade in Valves represent 0.5% of total world trade.

Exports: In 2018 the top exporters of Valves  were China ($17B), Germany ($14.3B), United States ($10.4B), Italy ($8.27B), and Japan ($5.27B).

Imports: In 2018 the top importers of Valves were United States ($15.2B), China ($7.22B), Germany ($7.17B), Mexico ($3.53B), and France ($3.41B).

Tariffs: In 2018 the average tariff for Valves was 6.27%, been the 669 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Valves are Bahamas (30%), Iran (27.7%), Bermuda (25%), Pakistan (21.6%), and Algeria (21.5%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Sri Lanka (0%).

Ranking: Valves ranks 52nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $17B

Top Destination (2018): United States, $15.2B

Valves are the world's 25th most traded product.

In 2018, the top exporters of Valves were China ($17B), Germany ($14.3B), United States ($10.4B), Italy ($8.27B), and Japan ($5.27B).

In 2018, the top importers of Valves were United States ($15.2B), China ($7.22B), Germany ($7.17B), Mexico ($3.53B), and France ($3.41B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $1.88B

Top Destination Growth (2017 - 2018): United States, $857M

Between 2017 and 2018, the exports of Valves grew the fastest in China ($1.88B), Germany ($1.83B), United States ($1.31B), Italy ($540M), and Czechia ($409M).

Between 2017 and 2018, the fastest growing importers of Valves were United States ($857M), Germany ($746M), China ($645M), United Kingdom ($442M), and India ($340M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Valves.

In 2018,  market concentration measured using Shannon Entropy, was 4.31. This means that most of the exports of Valves are explained by 19 countries.

TOP NET EXPORTER (2018): China, $9.81B

TOP NET IMPORTER (2018): United States, $4.86B

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

In 2018, the countries that had a largest trade value in exports than imports of Valves were China ($9.81B), Germany ($7.16B), Italy ($6B), Japan ($2.87B), and Switzerland ($818M).

In 2018, the countries that had a largest trade value in imports than exports of Valves were United States ($4.86B), Russia ($1.72B), Saudi Arabia ($1.62B), Netherlands ($1.21B), and Australia ($1.02B).

Trade Forecasts

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This section shows forecasts for total trade for Valves. 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 Valves was 6.27%.  The countries with the highest tariffs for importing Valves were Bahamas (30%), Iran (27.7%), Bermuda (25%), Pakistan (21.6%), and Algeria (21.5%).

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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.