HS Icon Electro-magnets nes and parts of magnetic devices

850590 (Harmonized System 1992 for 6-digit)

World Trade (2018): $3.06B, Rnk 988 / 4726

Top Exporter (2018): $541M, Germany

Top Importer (2018): $498M, United States

Product Complexity (2018): 1.26, Rnk 418 / 4873

Export Growth (CAGR)(2017 - 2018): 12.2%, Rnk 2329 / 4726

Mean Tariff (2018): 5.74%, Rnk 3727 / 6538

Share of World Trade (2018): 0.017%, Rnk 988 / 4726

Overview:  This page contains the latest trade data of Electro-magnets nes and parts of magnetic devices. In 2018, Electro-magnets nes and parts of magnetic devices were the world's 988th most traded product, with a total trade of $3.06B. Between 2017 and 2018 the exports of Electro-magnets nes and parts of magnetic devices grew by 12.2%, from  $2.73B to $3.06B. Trade in Electro-magnets nes and parts of magnetic devices represent 0.017% of total world trade.

Exports: In 2018 the top exporters of Electro-magnets nes and parts of magnetic devices  were Germany ($541M), China ($494M), Japan ($389M), United States ($181M), and South Korea ($155M).

Imports: In 2018 the top importers of Electro-magnets nes and parts of magnetic devices were United States ($498M), Germany ($433M), China ($350M), Japan ($152M), and Mexico ($139M).

Tariffs: In 2018 the average tariff for Electro-magnets nes and parts of magnetic devices was 5.74%, been the 3727 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Electro-magnets nes and parts of magnetic devices are Bahamas (40.2%), Uzbekistan (28.7%), Bermuda (25%), Iran (20%), and Republic of the Congo (19.6%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Electro-magnets nes and parts of magnetic devices ranks 418th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $541M

Top Destination (2018): United States, $498M

Electro-magnets nes and parts of magnetic devices are the world's 988th most traded product.

In 2018, the top exporters of Electro-magnets nes and parts of magnetic devices were Germany ($541M), China ($494M), Japan ($389M), United States ($181M), and South Korea ($155M).

In 2018, the top importers of Electro-magnets nes and parts of magnetic devices were United States ($498M), Germany ($433M), China ($350M), Japan ($152M), and Mexico ($139M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $91.4M

Top Destination Growth (2017 - 2018): Germany, $73.6M

Between 2017 and 2018, the exports of Electro-magnets nes and parts of magnetic devices grew the fastest in Germany ($91.4M), Japan ($54M), Philippines ($44.4M), Chinese Taipei ($41.1M), and United States ($40.9M).

Between 2017 and 2018, the fastest growing importers of Electro-magnets nes and parts of magnetic devices were Germany ($73.6M), China ($71.6M), Hong Kong ($54.6M), United States ($52M), and Mexico ($33.6M).

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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 Electro-magnets nes and parts of magnetic devices.

In 2018,  market concentration measured using Shannon Entropy, was 4.23. This means that most of the exports of Electro-magnets nes and parts of magnetic devices are explained by 18 countries.

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TOP NET EXPORTER (2018): Japan, $237M

TOP NET IMPORTER (2018): United States, $317M

This map shows which countries export or import more of Electro-magnets nes and parts of magnetic devices. Each country is colored based on the difference in exports and imports of Electro-magnets nes and parts of magnetic devices during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Electro-magnets nes and parts of magnetic devices were Japan ($237M), China ($144M), South Korea ($112M), Germany ($108M), and France ($59.3M).

In 2018, the countries that had a largest trade value in imports than in exports of Electro-magnets nes and parts of magnetic devices were United States ($317M), Hungary ($116M), Hong Kong ($115M), Mexico ($85.6M), and India ($34.5M).

Trade Forecasts

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This section shows forecasts for total trade for Electro-magnets nes and parts of magnetic devices. 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 Electro-magnets nes and parts of magnetic devices was 5.74%.  The countries with the highest tariffs for importing Electro-magnets nes and parts of magnetic devices were Bahamas (40.2%), Uzbekistan (28.7%), Bermuda (25%), Iran (20%), and Republic of the Congo (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.