HS Icon Electric Soldering Equipment

8515 (Harmonized System 1992 for 4-digit)

World Trade (2018): $12.3B, Rnk 284 / 1225

Top Exporter (2018): $2.63B, Germany

Top Importer (2018): $1.76B, United States

Product Complexity (2018): 1.66, Rnk 26 / 1018

Export Growth (CAGR)(2017 - 2018): 17.1%, Rnk 425 / 1225

Mean Tariff (2018): 6.21%, Rnk 678 / 1259

Share of World Trade (2018): 0.067%, Rnk 284 / 1225

Overview: In 2018, Electric Soldering Equipment were the world's 284th most traded product, with a total trade of $12.3B. Between 2017 and 2018 the exports of Electric Soldering Equipment grew by 17.1%, from  $10.5B to $12.3B. Trade in Electric Soldering Equipment represent 0.067% of total world trade.

Exports: In 2018 the top exporters of Electric Soldering Equipment  were Germany ($2.63B), China ($1.79B), Japan ($1.44B), United States ($959M), and Italy ($578M).

Imports: In 2018 the top importers of Electric Soldering Equipment were United States ($1.76B), China ($1.05B), Mexico ($808M), Germany ($784M), and Poland ($378M).

Tariffs: In 2018 the average tariff for Electric Soldering Equipment was 6.21%, been the 678 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Electric Soldering Equipment are Bahamas (40.2%), Iran (37.1%), Cambodia (35%), 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: Electric Soldering Equipment ranks 26th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $2.63B

Top Destination (2018): United States, $1.76B

Electric Soldering Equipment are the world's 284th most traded product.

In 2018, the top exporters of Electric Soldering Equipment were Germany ($2.63B), China ($1.79B), Japan ($1.44B), United States ($959M), and Italy ($578M).

In 2018, the top importers of Electric Soldering Equipment were United States ($1.76B), China ($1.05B), Mexico ($808M), Germany ($784M), and Poland ($378M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $398M

Top Destination Growth (2017 - 2018): United States, $390M

Between 2017 and 2018, the exports of Electric Soldering Equipment grew the fastest in Germany ($398M), China ($279M), Japan ($209M), Sweden ($144M), and Switzerland ($95.6M).

Between 2017 and 2018, the fastest growing importers of Electric Soldering Equipment were United States ($390M), Germany ($170M), Poland ($139M), India ($133M), and Thailand ($105M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Electric Soldering Equipment.

In 2018,  market concentration measured using Shannon Entropy, was 4.13. This means that most of the exports of Electric Soldering Equipment are explained by 17 countries.

TOP NET EXPORTER (2018): Germany, $1.85B

TOP NET IMPORTER (2018): United States, $801M

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

In 2018, the countries that had a largest trade value in exports than imports of Electric Soldering Equipment were Germany ($1.85B), Japan ($1.17B), China ($741M), Switzerland ($418M), and South Korea ($281M).

In 2018, the countries that had a largest trade value in imports than exports of Electric Soldering Equipment were United States ($801M), Mexico ($603M), Vietnam ($355M), Russia ($339M), and India ($292M).

Trade Forecasts

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This section shows forecasts for total trade for Electric Soldering Equipment. 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 Electric Soldering Equipment was 6.21%.  The countries with the highest tariffs for importing Electric Soldering Equipment were Bahamas (40.2%), Iran (37.1%), Cambodia (35%), 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.