HS Icon Electrical Transformers

8504 (Harmonized System 1992 for 4-digit)

World Trade (2018): $92.4B, Rnk 26 / 1225

Top Exporter (2018): $30.1B, China

Top Importer (2018): $14.5B, United States

Product Complexity (2018): 0.66, Rnk 297 / 1018

Export Growth (CAGR)(2017 - 2018): 9.71%, Rnk 791 / 1225

Mean Tariff (2018): 6.67%, Rnk 641 / 1259

Share of World Trade (2018): 0.5%, Rnk 26 / 1225

Overview: In 2018, Electrical Transformers were the world's 26th most traded product, with a total trade of $92.4B. Between 2017 and 2018 the exports of Electrical Transformers grew by 9.71%, from  $84.3B to $92.4B. Trade in Electrical Transformers represent 0.5% of total world trade.

Exports: In 2018 the top exporters of Electrical Transformers  were China ($30.1B), Germany ($9.44B), United States ($4.77B), Japan ($4.28B), and Mexico ($2.95B).

Imports: In 2018 the top importers of Electrical Transformers were United States ($14.5B), Hong Kong ($8.13B), Germany ($6.99B), China ($5.69B), and Mexico ($3.4B).

Tariffs: In 2018 the average tariff for Electrical Transformers was 6.67%, been the 641 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Electrical Transformers are Bahamas (36.8%), Iran (27%), Bermuda (22.9%), Maldives (20.6%), and Cambodia (16.1%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Electrical Transformers ranks 297th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $30.1B

Top Destination (2018): United States, $14.5B

Electrical Transformers are the world's 26th most traded product.

In 2018, the top exporters of Electrical Transformers were China ($30.1B), Germany ($9.44B), United States ($4.77B), Japan ($4.28B), and Mexico ($2.95B).

In 2018, the top importers of Electrical Transformers were United States ($14.5B), Hong Kong ($8.13B), Germany ($6.99B), China ($5.69B), and Mexico ($3.4B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $1.55B

Top Destination Growth (2017 - 2018): United States, $1.85B

Between 2017 and 2018, the exports of Electrical Transformers grew the fastest in Germany ($1.55B), United States ($1.41B), Mexico ($824M), Netherlands ($816M), and Thailand ($365M).

Between 2017 and 2018, the fastest growing importers of Electrical Transformers were United States ($1.85B), Germany ($758M), Netherlands ($567M), India ($429M), and Chinese Taipei ($331M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Electrical Transformers.

In 2018,  market concentration measured using Shannon Entropy, was 4.27. This means that most of the exports of Electrical Transformers are explained by 19 countries.

TOP NET EXPORTER (2018): China, $24.4B

TOP NET IMPORTER (2018): United States, $9.76B

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

In 2018, the countries that had a largest trade value in exports than imports of Electrical Transformers were China ($24.4B), Germany ($2.45B), Philippines ($1.77B), Japan ($1.35B), and Thailand ($924M).

In 2018, the countries that had a largest trade value in imports than exports of Electrical Transformers were United States ($9.76B), Hong Kong ($6.83B), France ($1.15B), Russia ($1.06B), and Australia ($1.04B).

Trade Forecasts

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This section shows forecasts for total trade for Electrical Transformers. 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 Electrical Transformers was 6.67%.  The countries with the highest tariffs for importing Electrical Transformers were Bahamas (36.8%), Iran (27%), Bermuda (22.9%), Maldives (20.6%), and Cambodia (16.1%).

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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.