HS Icon Taps, cocks, valves and similar appliances, nes

848180 (Harmonized System 1992 for 6-digit)

World Trade (2018): $52.2B, Rnk 41 / 4726

Top Exporter (2018): $11.4B, China

Top Importer (2018): $8.4B, United States

Product Complexity (2018): 1.05, Rnk 690 / 4873

Export Growth (CAGR)(2017 - 2018): 9.92%, Rnk 2678 / 4726

Mean Tariff (2018): 7.52%, Rnk 3008 / 6538

Share of World Trade (2018): 0.28%, Rnk 41 / 4726

Overview:  This page contains the latest trade data of Taps, cocks, valves and similar appliances, nes. In 2018, Taps, cocks, valves and similar appliances, nes were the world's 41st most traded product, with a total trade of $52.2B. Between 2017 and 2018 the exports of Taps, cocks, valves and similar appliances, nes grew by 9.92%, from  $47.5B to $52.2B. Trade in Taps, cocks, valves and similar appliances, nes represent 0.28% of total world trade.

Exports: In 2018 the top exporters of Taps, cocks, valves and similar appliances, nes  were China ($11.4B), Germany ($7.08B), Italy ($5.45B), United States ($4.81B), and Japan ($2.31B).

Imports: In 2018 the top importers of Taps, cocks, valves and similar appliances, nes were United States ($8.4B), Germany ($3.81B), China ($3.39B), United Kingdom ($2.02B), and France ($1.95B).

Tariffs: In 2018 the average tariff for Taps, cocks, valves and similar appliances, nes was 7.52%, been the 3008 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Taps, cocks, valves and similar appliances, nes are Algeria (35.8%), Iran (31.8%), Pakistan (30.1%), Bermuda (25%), and Zimbabwe (20.5%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Sri Lanka (0%).

Ranking: Taps, cocks, valves and similar appliances, nes ranks 690th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $11.4B

Top Destination (2018): United States, $8.4B

Taps, cocks, valves and similar appliances, nes are the world's 41st most traded product.

In 2018, the top exporters of Taps, cocks, valves and similar appliances, nes were China ($11.4B), Germany ($7.08B), Italy ($5.45B), United States ($4.81B), and Japan ($2.31B).

In 2018, the top importers of Taps, cocks, valves and similar appliances, nes were United States ($8.4B), Germany ($3.81B), China ($3.39B), United Kingdom ($2.02B), and France ($1.95B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $1.6B

Top Destination Growth (2017 - 2018): Germany, $594M

Between 2017 and 2018, the exports of Taps, cocks, valves and similar appliances, nes grew the fastest in China ($1.6B), Germany ($624M), United States ($520M), Italy ($403M), and Czechia ($353M).

Between 2017 and 2018, the fastest growing importers of Taps, cocks, valves and similar appliances, nes were Germany ($594M), China ($385M), United Kingdom ($237M), United States ($198M), and Thailand ($178M).

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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 Taps, cocks, valves and similar appliances, nes.

In 2018,  market concentration measured using Shannon Entropy, was 4.27. This means that most of the exports of Taps, cocks, valves and similar appliances, nes are explained by 19 countries.

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TOP NET EXPORTER (2018): China, $8.04B

TOP NET IMPORTER (2018): United States, $3.59B

This map shows which countries export or import more of Taps, cocks, valves and similar appliances, nes. Each country is colored based on the difference in exports and imports of Taps, cocks, valves and similar appliances, nes during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Taps, cocks, valves and similar appliances, nes were China ($8.04B), Italy ($4.33B), Germany ($3.27B), Japan ($1.1B), and Czechia ($651M).

In 2018, the countries that had a largest trade value in imports than in exports of Taps, cocks, valves and similar appliances, nes were United States ($3.59B), Russia ($1.23B), Saudi Arabia ($1.13B), Netherlands ($820M), and Australia ($701M).

Trade Forecasts

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This section shows forecasts for total trade for Taps, cocks, valves and similar 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 Taps, cocks, valves and similar appliances, nes was 7.52%.  The countries with the highest tariffs for importing Taps, cocks, valves and similar appliances, nes were Algeria (35.8%), Iran (31.8%), Pakistan (30.1%), Bermuda (25%), and Zimbabwe (20.5%).

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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.