HS Icon Micro Cars

870321 (Harmonized System 1992 for 6-digit)

World Trade (2018): $40.9B, Rnk 57 / 4726

Top Exporter (2018): $5.48B, Germany

Top Importer (2018): $6.56B, Germany

Product Complexity (2018): 0.41, Rnk 1861 / 4873

Export Growth (CAGR)(2017 - 2018): 49.3%, Rnk 347 / 4726

Mean Tariff (2018): 21.5%, Rnk 513 / 6538

Share of World Trade (2018): 0.22%, Rnk 57 / 4726

Overview:  This page contains the latest trade data of Micro Cars. In 2018, Micro Cars were the world's 57th most traded product, with a total trade of $40.9B. Between 2017 and 2018 the exports of Micro Cars grew by 49.3%, from  $27.4B to $40.9B. Trade in Micro Cars represent 0.22% of total world trade.

Exports: In 2018 the top exporters of Micro Cars  were Germany ($5.48B), Spain ($4.96B), Czechia ($4.92B), South Korea ($2.39B), and Romania ($2B).

Imports: In 2018 the top importers of Micro Cars were Germany ($6.56B), France ($5.02B), United Kingdom ($4.45B), Italy ($3.01B), and Belgium-Luxembourg ($2.15B).

Tariffs: In 2018 the average tariff for Micro Cars was 21.5%, been the 513 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Micro Cars are Maldives (164%), India (106%), Iran (90%), Thailand (70%), and Vietnam (60.8%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), Singapore (0%), and Belarus (0%).

Ranking: Micro Cars ranks 1861st in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $5.48B

Top Destination (2018): Germany, $6.56B

Micro Cars are the world's 57th most traded product.

In 2018, the top exporters of Micro Cars were Germany ($5.48B), Spain ($4.96B), Czechia ($4.92B), South Korea ($2.39B), and Romania ($2B).

In 2018, the top importers of Micro Cars were Germany ($6.56B), France ($5.02B), United Kingdom ($4.45B), Italy ($3.01B), and Belgium-Luxembourg ($2.15B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Spain, $2.07B

Top Destination Growth (2017 - 2018): Germany, $3.15B

Between 2017 and 2018, the exports of Micro Cars grew the fastest in Spain ($2.07B), Czechia ($1.85B), Romania ($1.39B), South Korea ($989M), and South Africa ($912M).

Between 2017 and 2018, the fastest growing importers of Micro Cars were Germany ($3.15B), France ($1.82B), United Kingdom ($1.65B), Spain ($1.02B), and Italy ($731M).

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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 Micro Cars.

In 2018,  market concentration measured using Shannon Entropy, was 4.37. This means that most of the exports of Micro Cars are explained by 20 countries.

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TOP NET EXPORTER (2018): Czechia, $4.56B

TOP NET IMPORTER (2018): United Kingdom, $3.97B

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

In 2018, the countries that had a largest trade value in exports than in imports of Micro Cars were Czechia ($4.56B), Spain ($2.9B), South Korea ($2.36B), Romania ($1.79B), and Turkey ($1.6B).

In 2018, the countries that had a largest trade value in imports than in exports of Micro Cars were United Kingdom ($3.97B), France ($3.07B), Italy ($2.46B), Netherlands ($1.94B), and Germany ($1.08B).

Trade Forecasts

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This section shows forecasts for total trade for Micro Cars. 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 Micro Cars was 21.5%.  The countries with the highest tariffs for importing Micro Cars were Maldives (164%), India (106%), Iran (90%), Thailand (70%), and Vietnam (60.8%).

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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.