HS Icon Parts of electrical machines and apparatus nes

854390 (Harmonized System 1992 for 6-digit)

World Trade (2018): $11.8B, Rnk 252 / 4726

Top Exporter (2018): $2.95B, China

Top Importer (2018): $2.1B, United States

Product Complexity (2018): 0.75, Rnk 1211 / 4873

Export Growth (CAGR)(2017 - 2018): 81.6%, Rnk 129 / 4726

Mean Tariff (2018): 3.2%, Rnk 5597 / 6538

Share of World Trade (2018): 0.064%, Rnk 252 / 4726

Overview:  This page contains the latest trade data of Parts of electrical machines and apparatus nes. In 2018, Parts of electrical machines and apparatus nes were the world's 252nd most traded product, with a total trade of $11.8B. Between 2017 and 2018 the exports of Parts of electrical machines and apparatus nes grew by 81.6%, from  $6.51B to $11.8B. Trade in Parts of electrical machines and apparatus nes represent 0.064% of total world trade.

Exports: In 2018 the top exporters of Parts of electrical machines and apparatus nes  were China ($2.95B), Philippines ($1.95B), United States ($1.29B), Japan ($1.1B), and Singapore ($837M).

Imports: In 2018 the top importers of Parts of electrical machines and apparatus nes were United States ($2.1B), Hong Kong ($1.38B), China ($1.37B), Japan ($840M), and Singapore ($577M).

Tariffs: In 2018 the average tariff for Parts of electrical machines and apparatus nes was 3.2%, been the 5597 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Parts of electrical machines and apparatus nes are Ethiopia (29.7%), Bermuda (25%), Samoa (20%), Maldives (19.6%), and Zambia (13.6%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), United Arab Emirates (0%), Armenia (0%), and China (0%).

Ranking: Parts of electrical machines and apparatus nes ranks 1211th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $2.95B

Top Destination (2018): United States, $2.1B

Parts of electrical machines and apparatus nes are the world's 252nd most traded product.

In 2018, the top exporters of Parts of electrical machines and apparatus nes were China ($2.95B), Philippines ($1.95B), United States ($1.29B), Japan ($1.1B), and Singapore ($837M).

In 2018, the top importers of Parts of electrical machines and apparatus nes were United States ($2.1B), Hong Kong ($1.38B), China ($1.37B), Japan ($840M), and Singapore ($577M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $1.73B

Top Destination Growth (2017 - 2018): United States, $2.09B

Between 2017 and 2018, the exports of Parts of electrical machines and apparatus nes grew the fastest in China ($1.73B), Philippines ($1.1B), United States ($818M), Thailand ($479M), and Japan ($376M).

Between 2017 and 2018, the fastest growing importers of Parts of electrical machines and apparatus nes were United States ($2.09B), Hong Kong ($613M), Singapore ($577M), China ($521M), and Japan ($488M).

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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 Parts of electrical machines and apparatus nes.

In 2018,  market concentration measured using Shannon Entropy, was 3.84. This means that most of the exports of Parts of electrical machines and apparatus nes are explained by 14 countries.

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TOP NET EXPORTER (2018): Philippines, $1.89B

TOP NET IMPORTER (2018): Hong Kong, $1.21B

This map shows which countries export or import more of Parts of electrical machines and apparatus nes. Each country is colored based on the difference in exports and imports of Parts of electrical machines and apparatus nes during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Parts of electrical machines and apparatus nes were Philippines ($1.89B), China ($1.59B), Thailand ($346M), Singapore ($259M), and Japan ($256M).

In 2018, the countries that had a largest trade value in imports than in exports of Parts of electrical machines and apparatus nes were Hong Kong ($1.21B), United States ($809M), Vietnam ($315M), Malaysia ($273M), and Qatar ($255M).

Trade Forecasts

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This section shows forecasts for total trade for Parts of electrical machines and apparatus nes. 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 Parts of electrical machines and apparatus nes was 3.2%.  The countries with the highest tariffs for importing Parts of electrical machines and apparatus nes were Ethiopia (29.7%), Bermuda (25%), Samoa (20%), Maldives (19.6%), and Zambia (13.6%).

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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.