HS Icon Metal permanent magnets, articles intended as magnets

850511 (Harmonized System 1992 for 6-digit)

World Trade (2018): $3.81B, Rnk 819 / 4726

Top Exporter (2018): $2.03B, China

Top Importer (2018): $470M, Germany

Product Complexity (2018): 1.25, Rnk 432 / 4873

Export Growth (CAGR)(2017 - 2018): 13.1%, Rnk 2184 / 4726

Mean Tariff (2018): 6.81%, Rnk 3272 / 6538

Share of World Trade (2018): 0.021%, Rnk 819 / 4726

Overview:  This page contains the latest trade data of Metal permanent magnets, articles intended as magnets. In 2018, Metal permanent magnets, articles intended as magnets were the world's 819th most traded product, with a total trade of $3.81B. Between 2017 and 2018 the exports of Metal permanent magnets, articles intended as magnets grew by 13.1%, from  $3.37B to $3.81B. Trade in Metal permanent magnets, articles intended as magnets represent 0.021% of total world trade.

Exports: In 2018 the top exporters of Metal permanent magnets, articles intended as magnets  were China ($2.03B), Japan ($512M), Philippines ($283M), Germany ($238M), and Malaysia ($112M).

Imports: In 2018 the top importers of Metal permanent magnets, articles intended as magnets were Germany ($470M), United States ($412M), Japan ($329M), Philippines ($277M), and South Korea ($192M).

Tariffs: In 2018 the average tariff for Metal permanent magnets, articles intended as magnets was 6.81%, been the 3272 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Metal permanent magnets, articles intended as magnets are Bahamas (40.2%), Iran (40%), Uzbekistan (28.7%), Bermuda (25%), and Maldives (19.6%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Metal permanent magnets, articles intended as magnets ranks 432nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $2.03B

Top Destination (2018): Germany, $470M

Metal permanent magnets, articles intended as magnets are the world's 819th most traded product.

In 2018, the top exporters of Metal permanent magnets, articles intended as magnets were China ($2.03B), Japan ($512M), Philippines ($283M), Germany ($238M), and Malaysia ($112M).

In 2018, the top importers of Metal permanent magnets, articles intended as magnets were Germany ($470M), United States ($412M), Japan ($329M), Philippines ($277M), and South Korea ($192M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $253M

Top Destination Growth (2017 - 2018): Philippines, $152M

Between 2017 and 2018, the exports of Metal permanent magnets, articles intended as magnets grew the fastest in China ($253M), Germany ($65.3M), Japan ($62.6M), Malaysia ($41.4M), and Switzerland ($28.6M).

Between 2017 and 2018, the fastest growing importers of Metal permanent magnets, articles intended as magnets were Philippines ($152M), Germany ($97.3M), United States ($88.8M), Malaysia ($40.9M), and South Korea ($29.2M).

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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 Metal permanent magnets, articles intended as magnets.

In 2018,  market concentration measured using Shannon Entropy, was 2.71. This means that most of the exports of Metal permanent magnets, articles intended as magnets are explained by 6 countries.

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TOP NET EXPORTER (2018): China, $1.87B

TOP NET IMPORTER (2018): United States, $312M

This map shows which countries export or import more of Metal permanent magnets, articles intended as magnets. Each country is colored based on the difference in exports and imports of Metal permanent magnets, articles intended as magnets during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Metal permanent magnets, articles intended as magnets were China ($1.87B), Japan ($183M), Philippines ($6.14M), Slovenia ($1.96M), and New Zealand ($1.59M).

In 2018, the countries that had a largest trade value in imports than in exports of Metal permanent magnets, articles intended as magnets were United States ($312M), Germany ($232M), South Korea ($159M), Thailand ($141M), and Mexico ($137M).

Trade Forecasts

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This section shows forecasts for total trade for Metal permanent magnets, articles intended as magnets. 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 Metal permanent magnets, articles intended as magnets was 6.81%.  The countries with the highest tariffs for importing Metal permanent magnets, articles intended as magnets were Bahamas (40.2%), Iran (40%), Uzbekistan (28.7%), Bermuda (25%), and Maldives (19.6%).

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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.