HS Icon Electrical relays for 60 - 1,000 volts

853649 (Harmonized System 1992 for 6-digit)

World Trade (2018): $5.08B, Rnk 617 / 4726

Top Exporter (2018): $850M, Germany

Top Importer (2018): $538M, United States

Product Complexity (2018): 0.61, Rnk 1451 / 4873

Export Growth (CAGR)(2017 - 2018): 6.51%, Rnk 3147 / 4726

Mean Tariff (2018): 8.9%, Rnk 2568 / 6538

Share of World Trade (2018): 0.028%, Rnk 617 / 4726

Overview:  This page contains the latest trade data of Electrical relays for 60 - 1,000 volts. In 2018, Electrical relays for 60 - 1,000 volts were the world's 617th most traded product, with a total trade of $5.08B. Between 2017 and 2018 the exports of Electrical relays for 60 - 1,000 volts grew by 6.51%, from  $4.77B to $5.08B. Trade in Electrical relays for 60 - 1,000 volts represent 0.028% of total world trade.

Exports: In 2018 the top exporters of Electrical relays for 60 - 1,000 volts  were Germany ($850M), China ($637M), France ($434M), United States ($372M), and Czechia ($301M).

Imports: In 2018 the top importers of Electrical relays for 60 - 1,000 volts were United States ($538M), Germany ($464M), China ($323M), Italy ($225M), and Netherlands ($194M).

Tariffs: In 2018 the average tariff for Electrical relays for 60 - 1,000 volts was 8.9%, been the 2568 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Electrical relays for 60 - 1,000 volts are Bahamas (40.2%), Iran (35%), Maldives (34.2%), Algeria (29.2%), and Bermuda (25%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Mauritius (0%), Hong Kong (0%), and Japan (0%).

Ranking: Electrical relays for 60 - 1,000 volts ranks 1451st in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $850M

Top Destination (2018): United States, $538M

Electrical relays for 60 - 1,000 volts are the world's 617th most traded product.

In 2018, the top exporters of Electrical relays for 60 - 1,000 volts were Germany ($850M), China ($637M), France ($434M), United States ($372M), and Czechia ($301M).

In 2018, the top importers of Electrical relays for 60 - 1,000 volts were United States ($538M), Germany ($464M), China ($323M), Italy ($225M), and Netherlands ($194M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $90.3M

Top Destination Growth (2017 - 2018): China, $60.2M

Between 2017 and 2018, the exports of Electrical relays for 60 - 1,000 volts grew the fastest in Germany ($90.3M), United States ($75.2M), Czechia ($44.9M), France ($38M), and Netherlands ($32.6M).

Between 2017 and 2018, the fastest growing importers of Electrical relays for 60 - 1,000 volts were China ($60.2M), Hong Kong ($51.5M), Germany ($43.8M), Italy ($33.7M), and Czechia ($33.5M).

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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 Electrical relays for 60 - 1,000 volts.

In 2018,  market concentration measured using Shannon Entropy, was 4.59. This means that most of the exports of Electrical relays for 60 - 1,000 volts are explained by 24 countries.

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TOP NET EXPORTER (2018): Germany, $386M

TOP NET IMPORTER (2018): United States, $166M

This map shows which countries export or import more of Electrical relays for 60 - 1,000 volts. Each country is colored based on the difference in exports and imports of Electrical relays for 60 - 1,000 volts during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Electrical relays for 60 - 1,000 volts were Germany ($386M), China ($314M), France ($241M), Czechia ($128M), and Finland ($118M).

In 2018, the countries that had a largest trade value in imports than in exports of Electrical relays for 60 - 1,000 volts were United States ($166M), Hong Kong ($139M), Italy ($81.1M), Mexico ($73.6M), and Canada ($69.7M).

Trade Forecasts

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This section shows forecasts for total trade for Electrical relays for 60 - 1,000 volts. 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 Electrical relays for 60 - 1,000 volts was 8.9%.  The countries with the highest tariffs for importing Electrical relays for 60 - 1,000 volts were Bahamas (40.2%), Iran (35%), Maldives (34.2%), Algeria (29.2%), 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.