HS Icon Other Electrical Machinery

8543 (Harmonized System 1992 for 4-digit)

World Trade (2018): $53.7B, Rnk 64 / 1225

Top Exporter (2018): $19.7B, China

Top Importer (2018): $11.7B, United States

Product Complexity (2018): 1.25, Rnk 91 / 1018

Export Growth (CAGR)(2017 - 2018): 23.9%, Rnk 249 / 1225

Mean Tariff (2018): 4.94%, Rnk 827 / 1259

Share of World Trade (2018): 0.29%, Rnk 64 / 1225

Overview: In 2018, Other Electrical Machinery were the world's 64th most traded product, with a total trade of $53.7B. Between 2017 and 2018 the exports of Other Electrical Machinery grew by 23.9%, from  $43.4B to $53.7B. Trade in Other Electrical Machinery represent 0.29% of total world trade.

Exports: In 2018 the top exporters of Other Electrical Machinery  were China ($19.7B), United States ($4.31B), Germany ($4.11B), Japan ($3.56B), and Mexico ($2.41B).

Imports: In 2018 the top importers of Other Electrical Machinery were United States ($11.7B), China ($4B), Hong Kong ($3.72B), Japan ($3.46B), and Germany ($2.76B).

Tariffs: In 2018 the average tariff for Other Electrical Machinery was 4.94%, been the 827 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Other Electrical Machinery are Bermuda (20.8%), Samoa (20%), Ethiopia (19.8%), Maldives (18.3%), and Iran (17.8%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Other Electrical Machinery ranks 91st in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $19.7B

Top Destination (2018): United States, $11.7B

Other Electrical Machinery are the world's 64th most traded product.

In 2018, the top exporters of Other Electrical Machinery were China ($19.7B), United States ($4.31B), Germany ($4.11B), Japan ($3.56B), and Mexico ($2.41B).

In 2018, the top importers of Other Electrical Machinery were United States ($11.7B), China ($4B), Hong Kong ($3.72B), Japan ($3.46B), and Germany ($2.76B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $3.72B

Top Destination Growth (2017 - 2018): United States, $2.57B

Between 2017 and 2018, the exports of Other Electrical Machinery grew the fastest in China ($3.72B), United States ($2.26B), Philippines ($1.14B), Thailand ($1.13B), and Israel ($422M).

Between 2017 and 2018, the fastest growing importers of Other Electrical Machinery were United States ($2.57B), Hong Kong ($1.54B), Mexico ($1.22B), Singapore ($1.01B), and China ($841M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Other Electrical Machinery.

In 2018,  market concentration measured using Shannon Entropy, was 3.84. This means that most of the exports of Other Electrical Machinery are explained by 14 countries.

TOP NET EXPORTER (2018): China, $15.7B

TOP NET IMPORTER (2018): United States, $7.35B

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

In 2018, the countries that had a largest trade value in exports than imports of Other Electrical Machinery were China ($15.7B), Philippines ($1.9B), Germany ($1.34B), Malaysia ($928M), and Israel ($534M).

In 2018, the countries that had a largest trade value in imports than exports of Other Electrical Machinery were United States ($7.35B), Hong Kong ($3.17B), India ($824M), Vietnam ($804M), and France ($800M).

Trade Forecasts

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This section shows forecasts for total trade for Other Electrical Machinery. 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 Other Electrical Machinery was 4.94%.  The countries with the highest tariffs for importing Other Electrical Machinery were Bermuda (20.8%), Samoa (20%), Ethiopia (19.8%), Maldives (18.3%), and Iran (17.8%).

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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.