HS Icon Electromagnets

8505 (Harmonized System 1992 for 4-digit)

World Trade (2018): $9.36B, Rnk 341 / 1225

Top Exporter (2018): $3.33B, China

Top Importer (2018): $1.18B, Germany

Product Complexity (2018): 1.33, Rnk 78 / 1018

Export Growth (CAGR)(2017 - 2018): 11.5%, Rnk 695 / 1225

Mean Tariff (2018): 6.7%, Rnk 637 / 1259

Share of World Trade (2018): 0.051%, Rnk 341 / 1225

Overview: In 2018, Electromagnets were the world's 341st most traded product, with a total trade of $9.36B. Between 2017 and 2018 the exports of Electromagnets grew by 11.5%, from  $8.39B to $9.36B. Trade in Electromagnets represent 0.051% of total world trade.

Exports: In 2018 the top exporters of Electromagnets  were China ($3.33B), Germany ($1.2B), Japan ($1.1B), Philippines ($394M), and United States ($390M).

Imports: In 2018 the top importers of Electromagnets were Germany ($1.18B), United States ($1.14B), China ($706M), Japan ($573M), and Hong Kong ($416M).

Tariffs: In 2018 the average tariff for Electromagnets was 6.7%, been the 637 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Electromagnets are Bahamas (40.2%), Iran (32%), Uzbekistan (28.7%), Maldives (25.4%), and Bermuda (25%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Electromagnets ranks 78th in the Product Complexity Index (PCI).

Import Tariffs

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In 2018, the average tariff for importing Electromagnets was 6.7%.  The countries with the highest tariffs for importing Electromagnets were Bahamas (40.2%), Iran (32%), Uzbekistan (28.7%), Maldives (25.4%), and Bermuda (25%).

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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.