HS Icon Parts and accessories of bodies nes for motor vehicle

870829 (Harmonized System 1992 for 6-digit)

World Trade (2018): $68.9B, Rnk 29 / 4726

Top Exporter (2018): $12.4B, Germany

Top Importer (2018): $14.7B, United States

Product Complexity (2018): 0.77, Rnk 1175 / 4873

Export Growth (CAGR)(2017 - 2018): 4.76%, Rnk 3361 / 4726

Mean Tariff (2018): 9.32%, Rnk 2448 / 6538

Share of World Trade (2018): 0.37%, Rnk 29 / 4726

Overview: In 2018, Parts and accessories of bodies nes for motor vehicle were the world's 29th most traded product, with a total trade of $68.9B. Between 2017 and 2018 the exports of Parts and accessories of bodies nes for motor vehicle grew by 4.76%, from  $65.7B to $68.9B. Trade in Parts and accessories of bodies nes for motor vehicle represent 0.37% of total world trade.

Exports: In 2018 the top exporters of Parts and accessories of bodies nes for motor vehicle  were Germany ($12.4B), Mexico ($6.18B), China ($4.98B), Czechia ($4.96B), and United States ($4.67B).

Imports: In 2018 the top importers of Parts and accessories of bodies nes for motor vehicle were United States ($14.7B), Germany ($9.38B), Mexico ($5B), China ($4.29B), and United Kingdom ($2.86B).

Tariffs: In 2018 the average tariff for Parts and accessories of bodies nes for motor vehicle was 9.32%, been the 2448 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Parts and accessories of bodies nes for motor vehicle are Maldives (41.5%), Bermuda (35%), Pakistan (35%), Trinidad and Tobago (33.1%), and Cape Verde (30%). The countries with the lowest tariffs are Ghana (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Parts and accessories of bodies nes for motor vehicle ranks 1175th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $12.4B

Top Destination (2018): United States, $14.7B

Parts and accessories of bodies nes for motor vehicle are the world's 29th most traded product.

In 2018, the top exporters of Parts and accessories of bodies nes for motor vehicle were Germany ($12.4B), Mexico ($6.18B), China ($4.98B), Czechia ($4.96B), and United States ($4.67B).

In 2018, the top importers of Parts and accessories of bodies nes for motor vehicle were United States ($14.7B), Germany ($9.38B), Mexico ($5B), China ($4.29B), and United Kingdom ($2.86B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $572M

Top Destination Growth (2017 - 2018): United States, $1.17B

Between 2017 and 2018, the exports of Parts and accessories of bodies nes for motor vehicle grew the fastest in Germany ($572M), Mexico ($568M), United States ($547M), China ($525M), and Canada ($438M).

Between 2017 and 2018, the fastest growing importers of Parts and accessories of bodies nes for motor vehicle were United States ($1.17B), France ($380M), South Africa ($279M), Mexico ($205M), and Thailand ($177M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Parts and accessories of bodies nes for motor vehicle.

In 2018,  market concentration measured using Shannon Entropy, was 4.42. This means that most of the exports of Parts and accessories of bodies nes for motor vehicle are explained by 21 countries.

TOP NET EXPORTER (2018): Canada, $3.42B

TOP NET IMPORTER (2018): United States, $9.99B

This map shows which countries export or import more of Parts and accessories of bodies nes for motor vehicle. Each country is colored based on the difference in exports and imports of Parts and accessories of bodies nes for motor vehicle during 2018.

In 2018, the countries that had a largest trade value in exports than imports of Parts and accessories of bodies nes for motor vehicle were Canada ($3.42B), Germany ($3.06B), Czechia ($2.71B), Japan ($2.31B), and South Korea ($2.21B).

In 2018, the countries that had a largest trade value in imports than exports of Parts and accessories of bodies nes for motor vehicle were United States ($9.99B), United Kingdom ($1.96B), Russia ($1.47B), Slovakia ($714M), and Spain ($674M).

Trade Forecasts

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This section shows forecasts for total trade for Parts and accessories of bodies nes for motor vehicle. 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 and accessories of bodies nes for motor vehicle was 9.32%.  The countries with the highest tariffs for importing Parts and accessories of bodies nes for motor vehicle were Maldives (41.5%), Bermuda (35%), Pakistan (35%), Trinidad and Tobago (33.1%), and Cape Verde (30%).

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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.