HS Icon Electrical Power Accessories

8538 (Harmonized System 1992 for 4-digit)

World Trade (2018): $36.3B, Rnk 102 / 1225

Top Exporter (2018): $6.21B, Germany

Top Importer (2018): $4.1B, China

Product Complexity (2018): 0.87, Rnk 213 / 1018

Export Growth (CAGR)(2017 - 2018): 38.3%, Rnk 111 / 1225

Mean Tariff (2018): 8.98%, Rnk 475 / 1259

Share of World Trade (2018): 0.2%, Rnk 102 / 1225

Overview:  This page contains the latest trade data of Electrical Power Accessories. In 2018, Electrical Power Accessories were the world's 102nd most traded product, with a total trade of $36.3B. Between 2017 and 2018 the exports of Electrical Power Accessories grew by 38.3%, from  $26.3B to $36.3B. Trade in Electrical Power Accessories represent 0.2% of total world trade.

Exports: In 2018 the top exporters of Electrical Power Accessories  were Germany ($6.21B), China ($4.5B), United States ($4.04B), Japan ($3.06B), and South Korea ($1.71B).

Imports: In 2018 the top importers of Electrical Power Accessories were China ($4.1B), United States ($3.97B), Mexico ($3.48B), Germany ($2.85B), and France ($1.36B).

Tariffs: In 2018 the average tariff for Electrical Power Accessories was 8.98%, been the 475 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Electrical Power Accessories are Bahamas (41%), Iran (36.7%), Algeria (26.6%), Bermuda (25%), and Finland (20%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Electrical Power Accessories ranks 213th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $6.21B

Top Destination (2018): China, $4.1B

Electrical Power Accessories are the world's 102nd most traded product.

In 2018, the top exporters of Electrical Power Accessories were Germany ($6.21B), China ($4.5B), United States ($4.04B), Japan ($3.06B), and South Korea ($1.71B).

In 2018, the top importers of Electrical Power Accessories were China ($4.1B), United States ($3.97B), Mexico ($3.48B), Germany ($2.85B), and France ($1.36B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $2.77B

Top Destination Growth (2017 - 2018): United States, $3.75B

Between 2017 and 2018, the exports of Electrical Power Accessories grew the fastest in United States ($2.77B), Mexico ($1.34B), Germany ($1.12B), China ($973M), and Singapore ($598M).

Between 2017 and 2018, the fastest growing importers of Electrical Power Accessories were United States ($3.75B), Mexico ($3.38B), Germany ($571M), Singapore ($518M), and Australia ($167M).

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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 Power Accessories.

In 2018,  market concentration measured using Shannon Entropy, was 4.46. This means that most of the exports of Electrical Power Accessories are explained by 22 countries.

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TOP NET EXPORTER (2018): Germany, $3.36B

TOP NET IMPORTER (2018): Mexico, $2.04B

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

In 2018, the countries that had a largest trade value in exports than in imports of Electrical Power Accessories were Germany ($3.36B), Japan ($2.21B), South Korea ($899M), China ($406M), and Chinese Taipei ($312M).

In 2018, the countries that had a largest trade value in imports than in exports of Electrical Power Accessories were Mexico ($2.04B), Hong Kong ($862M), Vietnam ($300M), Russia ($300M), and United Kingdom ($276M).

Trade Forecasts

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This section shows forecasts for total trade for Electrical Power Accessories. 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 Power Accessories was 8.98%.  The countries with the highest tariffs for importing Electrical Power Accessories were Bahamas (41%), Iran (36.7%), Algeria (26.6%), Bermuda (25%), and Finland (20%).

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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.