HS Icon Electrical Parts

8548 (Harmonized System 1992 for 4-digit)

World Trade (2018): $9.23B, Rnk 345 / 1225

Top Exporter (2018): $4.34B, South Korea

Top Importer (2018): $4.28B, Vietnam

Product Complexity (2018): 1.44, Rnk 57 / 1018

Export Growth (CAGR)(2017 - 2018): 11.4%, Rnk 701 / 1225

Mean Tariff (2018): 5.7%, Rnk 732 / 1259

Share of World Trade (2018): 0.05%, Rnk 345 / 1225

Overview: In 2018, Electrical Parts were the world's 345th most traded product, with a total trade of $9.23B. Between 2017 and 2018 the exports of Electrical Parts grew by 11.4%, from  $8.28B to $9.23B. Trade in Electrical Parts represent 0.05% of total world trade.

Exports: In 2018 the top exporters of Electrical Parts  were South Korea ($4.34B), China ($1.41B), Japan ($920M), Germany ($432M), and United Kingdom ($416M).

Imports: In 2018 the top importers of Electrical Parts were Vietnam ($4.28B), Hong Kong ($955M), China ($880M), United States ($463M), and Germany ($441M).

Tariffs: In 2018 the average tariff for Electrical Parts was 5.7%, been the 732 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Electrical Parts are Angola (50%), Bahamas (40.2%), Ethiopia (29.7%), Algeria (28.1%), and Syria (25.3%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Electrical Parts ranks 57th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): South Korea, $4.34B

Top Destination (2018): Vietnam, $4.28B

Electrical Parts are the world's 345th most traded product.

In 2018, the top exporters of Electrical Parts were South Korea ($4.34B), China ($1.41B), Japan ($920M), Germany ($432M), and United Kingdom ($416M).

In 2018, the top importers of Electrical Parts were Vietnam ($4.28B), Hong Kong ($955M), China ($880M), United States ($463M), and Germany ($441M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $592M

Top Destination Growth (2017 - 2018): United States, $462M

Between 2017 and 2018, the exports of Electrical Parts grew the fastest in China ($592M), United Kingdom ($173M), Mexico ($161M), Germany ($155M), and Thailand ($114M).

Between 2017 and 2018, the fastest growing importers of Electrical Parts were United States ($462M), Hong Kong ($454M), Mexico ($217M), Singapore ($124M), and Hungary ($75M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Electrical Parts.

In 2018,  market concentration measured using Shannon Entropy, was 2.91. This means that most of the exports of Electrical Parts are explained by 7 countries.

TOP NET EXPORTER (2018): South Korea, $4.21B

TOP NET IMPORTER (2018): Vietnam, $4.22B

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

In 2018, the countries that had a largest trade value in exports than imports of Electrical Parts were South Korea ($4.21B), Japan ($799M), China ($535M), United Kingdom ($352M), and Thailand ($147M).

In 2018, the countries that had a largest trade value in imports than exports of Electrical Parts were Vietnam ($4.22B), Hong Kong ($894M), United States ($288M), Hungary ($144M), and Poland ($78.7M).

Trade Forecasts

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This section shows forecasts for total trade for Electrical Parts. 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 Parts was 5.7%.  The countries with the highest tariffs for importing Electrical Parts were Angola (50%), Bahamas (40.2%), Ethiopia (29.7%), Algeria (28.1%), and Syria (25.3%).

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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.