HS Icon Electric Motors

8501 (Harmonized System 1992 for 4-digit)

World Trade (2018): $57.8B, Rnk 55 / 1225

Top Exporter (2018): $13.2B, China

Top Importer (2018): $9.94B, United States

Product Complexity (2018): 0.84, Rnk 227 / 1018

Export Growth (CAGR)(2017 - 2018): 9.98%, Rnk 774 / 1225

Mean Tariff (2018): 6.5%, Rnk 654 / 1259

Share of World Trade (2018): 0.31%, Rnk 55 / 1225

Overview:  This page contains the latest trade data of Electric Motors. In 2018, Electric Motors were the world's 55th most traded product, with a total trade of $57.8B. Between 2017 and 2018 the exports of Electric Motors grew by 9.98%, from  $52.5B to $57.8B. Trade in Electric Motors represent 0.31% of total world trade.

Exports: In 2018 the top exporters of Electric Motors  were China ($13.2B), Germany ($8.58B), United States ($3.91B), Mexico ($3.75B), and Japan ($3.17B).

Imports: In 2018 the top importers of Electric Motors were United States ($9.94B), Germany ($5.72B), China ($3.23B), Mexico ($2.74B), and Japan ($1.94B).

Tariffs: In 2018 the average tariff for Electric Motors was 6.5%, been the 654 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Electric Motors are Bahamas (40.2%), Maldives (30.8%), Iran (28.5%), Bermuda (19.4%), and Finland (16.5%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Electric Motors ranks 227th in the Product Complexity Index (PCI).

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2018): China, $13.2B

Top Destination (2018): United States, $9.94B

Electric Motors are the world's 55th most traded product.

In 2018, the top exporters of Electric Motors were China ($13.2B), Germany ($8.58B), United States ($3.91B), Mexico ($3.75B), and Japan ($3.17B).

In 2018, the top importers of Electric Motors were United States ($9.94B), Germany ($5.72B), China ($3.23B), Mexico ($2.74B), and Japan ($1.94B).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $1.49B

Top Destination Growth (2017 - 2018): Netherlands, $514M

Between 2017 and 2018, the exports of Electric Motors grew the fastest in Germany ($1.49B), United States ($499M), Czechia ($354M), Italy ($292M), and Denmark ($292M).

Between 2017 and 2018, the fastest growing importers of Electric Motors were Netherlands ($514M), United Kingdom ($418M), Germany ($368M), United States ($351M), and Italy ($310M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Electric Motors.

In 2018,  market concentration measured using Shannon Entropy, was 4.36. This means that most of the exports of Electric Motors are explained by 20 countries.

Explore Visualizations

TOP NET EXPORTER (2018): China, $9.98B

TOP NET IMPORTER (2018): United States, $6.03B

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

In 2018, the countries that had a largest trade value in exports than in imports of Electric Motors were China ($9.98B), Germany ($2.86B), Japan ($1.23B), Mexico ($1.01B), and Switzerland ($949M).

In 2018, the countries that had a largest trade value in imports than in exports of Electric Motors were United States ($6.03B), Canada ($990M), Hong Kong ($953M), Netherlands ($805M), and Malaysia ($751M).

Trade Forecasts

#permalink to section

This section shows forecasts for total trade for Electric Motors. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

Explore Forecasts

Import Tariffs

#permalink to section

In 2018, the average tariff for importing Electric Motors was 6.5%.  The countries with the highest tariffs for importing Electric Motors were Bahamas (40.2%), Maldives (30.8%), Iran (28.5%), Bermuda (19.4%), and Finland (16.5%).

Explore Tariff Data

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
Filter

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.