HS Icon Electric Locomotives

8601 (Harmonized System 1992 for 4-digit)

World Trade (2018): $975M, Rnk 919 / 1225

Top Exporter (2018): $469M, Germany

Top Importer (2018): $186M, Saudi Arabia

Product Complexity (2018): 1.01, Rnk 169 / 1018

Export Growth (CAGR)(2017 - 2018): 22.6%, Rnk 273 / 1225

Mean Tariff (2018): 5.98%, Rnk 706 / 1259

Share of World Trade (2018): 0.0053%, Rnk 919 / 1225

Overview:  This page contains the latest trade data of Electric Locomotives. In 2018, Electric Locomotives were the world's 919th most traded product, with a total trade of $975M. Between 2017 and 2018 the exports of Electric Locomotives grew by 22.6%, from  $796M to $975M. Trade in Electric Locomotives represent 0.0053% of total world trade.

Exports: In 2018 the top exporters of Electric Locomotives  were Germany ($469M), Spain ($200M), China ($97.7M), Austria ($35.6M), and France ($32.5M).

Imports: In 2018 the top importers of Electric Locomotives were Saudi Arabia ($186M), Austria ($115M), Sweden ($68.9M), Switzerland ($68.2M), and Czechia ($65.2M).

Tariffs: In 2018 the average tariff for Electric Locomotives was 5.98%, been the 706 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Electric Locomotives are Bahamas (40.2%), Bermuda (25%), Maldives (24.5%), Romania (17.2%), and Latvia (15%). The countries with the lowest tariffs are Angola (0%), Ethiopia (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Electric Locomotives ranks 169th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $469M

Top Destination (2018): Saudi Arabia, $186M

Electric Locomotives are the world's 919th most traded product.

In 2018, the top exporters of Electric Locomotives were Germany ($469M), Spain ($200M), China ($97.7M), Austria ($35.6M), and France ($32.5M).

In 2018, the top importers of Electric Locomotives were Saudi Arabia ($186M), Austria ($115M), Sweden ($68.9M), Switzerland ($68.2M), and Czechia ($65.2M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Spain, $121M

Top Destination Growth (2017 - 2018): Saudi Arabia, $128M

Between 2017 and 2018, the exports of Electric Locomotives grew the fastest in Spain ($121M), France ($27.1M), Romania ($20.7M), Norway ($17.5M), and Sweden ($12.8M).

Between 2017 and 2018, the fastest growing importers of Electric Locomotives were Saudi Arabia ($128M), Slovakia ($46.4M), Singapore ($41.1M), Israel ($39M), and India ($37.6M).

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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 Electric Locomotives.

In 2018,  market concentration measured using Shannon Entropy, was 2.6. This means that most of the exports of Electric Locomotives are explained by 6 countries.

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TOP NET EXPORTER (2018): Germany, $419M

TOP NET IMPORTER (2018): Saudi Arabia, $186M

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

In 2018, the countries that had a largest trade value in exports than in imports of Electric Locomotives were Germany ($419M), Spain ($200M), China ($96.7M), Romania ($27.3M), and South Korea ($9.92M).

In 2018, the countries that had a largest trade value in imports than in exports of Electric Locomotives were Saudi Arabia ($186M), Austria ($79.7M), Slovakia ($63.2M), Czechia ($62.8M), and Sweden ($56M).

Trade Forecasts

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This section shows forecasts for total trade for Electric Locomotives. 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 Electric Locomotives was 5.98%.  The countries with the highest tariffs for importing Electric Locomotives were Bahamas (40.2%), Bermuda (25%), Maldives (24.5%), Romania (17.2%), and Latvia (15%).

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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.