HS Icon Wheels including parts/accessories for motor vehicles

870870 (Harmonized System 1992 for 6-digit)

World Trade (2018): $20.1B, Rnk 134 / 4726

Top Exporter (2018): $6.4B, China

Top Importer (2018): $4.83B, United States

Product Complexity (2018): 0.93, Rnk 902 / 4873

Export Growth (CAGR)(2017 - 2018): 8.31%, Rnk 2910 / 4726

Mean Tariff (2018): 7.89%, Rnk 2872 / 6538

Share of World Trade (2018): 0.11%, Rnk 134 / 4726

Overview:  This page contains the latest trade data of Wheels including parts/accessories for motor vehicles. In 2018, Wheels including parts/accessories for motor vehicles were the world's 134th most traded product, with a total trade of $20.1B. Between 2017 and 2018 the exports of Wheels including parts/accessories for motor vehicles grew by 8.31%, from  $18.5B to $20.1B. Trade in Wheels including parts/accessories for motor vehicles represent 0.11% of total world trade.

Exports: In 2018 the top exporters of Wheels including parts/accessories for motor vehicles  were China ($6.4B), Germany ($2.62B), Mexico ($1.16B), Poland ($1.08B), and Italy ($817M).

Imports: In 2018 the top importers of Wheels including parts/accessories for motor vehicles were United States ($4.83B), Germany ($2.48B), Japan ($1.38B), United Kingdom ($881M), and Mexico ($878M).

Tariffs: In 2018 the average tariff for Wheels including parts/accessories for motor vehicles was 7.89%, been the 2872 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Wheels including parts/accessories for motor vehicles are Maldives (41.5%), Pakistan (35%), Bermuda (35%), Cape Verde (30%), and Angola (30%). The countries with the lowest tariffs are Ghana (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Wheels including parts/accessories for motor vehicles ranks 902nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $6.4B

Top Destination (2018): United States, $4.83B

Wheels including parts/accessories for motor vehicles are the world's 134th most traded product.

In 2018, the top exporters of Wheels including parts/accessories for motor vehicles were China ($6.4B), Germany ($2.62B), Mexico ($1.16B), Poland ($1.08B), and Italy ($817M).

In 2018, the top importers of Wheels including parts/accessories for motor vehicles were United States ($4.83B), Germany ($2.48B), Japan ($1.38B), United Kingdom ($881M), and Mexico ($878M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $529M

Top Destination Growth (2017 - 2018): United States, $541M

Between 2017 and 2018, the exports of Wheels including parts/accessories for motor vehicles grew the fastest in China ($529M), Germany ($326M), France ($155M), Poland ($130M), and Mexico ($86.8M).

Between 2017 and 2018, the fastest growing importers of Wheels including parts/accessories for motor vehicles were United States ($541M), Netherlands ($159M), Slovakia ($135M), Austria ($71.4M), and Japan ($67.4M).

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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 Wheels including parts/accessories for motor vehicles.

In 2018,  market concentration measured using Shannon Entropy, was 3.93. This means that most of the exports of Wheels including parts/accessories for motor vehicles are explained by 15 countries.

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TOP NET EXPORTER (2018): China, $6.22B

TOP NET IMPORTER (2018): United States, $4.28B

This map shows which countries export or import more of Wheels including parts/accessories for motor vehicles. Each country is colored based on the difference in exports and imports of Wheels including parts/accessories for motor vehicles during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Wheels including parts/accessories for motor vehicles were China ($6.22B), Poland ($805M), Turkey ($596M), South Korea ($424M), and Italy ($396M).

In 2018, the countries that had a largest trade value in imports than in exports of Wheels including parts/accessories for motor vehicles were United States ($4.28B), Japan ($954M), United Kingdom ($692M), Russia ($517M), and Sweden ($383M).

Trade Forecasts

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This section shows forecasts for total trade for Wheels including parts/accessories for motor vehicles. 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 Wheels including parts/accessories for motor vehicles was 7.89%.  The countries with the highest tariffs for importing Wheels including parts/accessories for motor vehicles were Maldives (41.5%), Pakistan (35%), Bermuda (35%), Cape Verde (30%), and Angola (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.