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:  This page contains the latest trade data of Electromagnets. 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).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $3.33B

Top Destination (2018): Germany, $1.18B

Electromagnets are the world's 341st most traded product.

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

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

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $207M

Top Destination Growth (2017 - 2018): United States, $272M

Between 2017 and 2018, the exports of Electromagnets grew the fastest in China ($207M), Germany ($197M), Malaysia ($67.6M), Japan ($59.5M), and France ($47.7M).

Between 2017 and 2018, the fastest growing importers of Electromagnets were United States ($272M), Germany ($189M), Philippines ($113M), Italy ($53.8M), and Vietnam ($40.4M).

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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 Electromagnets.

In 2018,  market concentration measured using Shannon Entropy, was 3.68. This means that most of the exports of Electromagnets are explained by 12 countries.

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TOP NET EXPORTER (2018): China, $2.62B

TOP NET IMPORTER (2018): United States, $750M

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

In 2018, the countries that had a largest trade value in exports than in imports of Electromagnets were China ($2.62B), Japan ($523M), Philippines ($70.5M), New Zealand ($39.4M), and South Korea ($33.2M).

In 2018, the countries that had a largest trade value in imports than in exports of Electromagnets were United States ($750M), Mexico ($318M), Hong Kong ($317M), Thailand ($227M), and Vietnam ($226M).

Trade Forecasts

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This section shows forecasts for total trade for Electromagnets. 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 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.