HS Icon Motor vehicle parts nes

870899 (Harmonized System 1992 for 6-digit)

World Trade (2018): $99.3B, Rnk 18 / 4726

Top Exporter (2018): $11.5B, Germany

Top Importer (2018): $17.6B, United States

Product Complexity (2018): 0.61, Rnk 1448 / 4873

Export Growth (CAGR)(2017 - 2018): 10.1%, Rnk 2652 / 4726

Mean Tariff (2018): 8.7%, Rnk 2637 / 6538

Share of World Trade (2018): 0.54%, Rnk 18 / 4726

Overview:  This page contains the latest trade data of Motor vehicle parts nes. In 2018, Motor vehicle parts nes were the world's 18th most traded product, with a total trade of $99.3B. Between 2017 and 2018 the exports of Motor vehicle parts nes grew by 10.1%, from  $90.2B to $99.3B. Trade in Motor vehicle parts nes represent 0.54% of total world trade.

Exports: In 2018 the top exporters of Motor vehicle parts nes  were Germany ($11.5B), South Korea ($7.8B), United States ($7.31B), Mexico ($6.88B), and China ($6.4B).

Imports: In 2018 the top importers of Motor vehicle parts nes were United States ($17.6B), Germany ($10B), Mexico ($5.93B), France ($4.75B), and Spain ($4.56B).

Tariffs: In 2018 the average tariff for Motor vehicle parts nes was 8.7%, been the 2637 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Motor vehicle parts nes are Maldives (41.5%), Pakistan (35%), Bermuda (35%), Cape Verde (30%), and Thailand (28.6%). The countries with the lowest tariffs are Ghana (0%), Hong Kong (0%), Japan (0%), Singapore (0%), and Switzerland (0%).

Ranking: Motor vehicle parts nes ranks 1448th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $11.5B

Top Destination (2018): United States, $17.6B

Motor vehicle parts nes are the world's 18th most traded product.

In 2018, the top exporters of Motor vehicle parts nes were Germany ($11.5B), South Korea ($7.8B), United States ($7.31B), Mexico ($6.88B), and China ($6.4B).

In 2018, the top importers of Motor vehicle parts nes were United States ($17.6B), Germany ($10B), Mexico ($5.93B), France ($4.75B), and Spain ($4.56B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): South Korea, $1.94B

Top Destination Growth (2017 - 2018): Germany, $2.04B

Between 2017 and 2018, the exports of Motor vehicle parts nes grew the fastest in South Korea ($1.94B), Spain ($1.9B), United States ($1.86B), Italy ($1.4B), and United Arab Emirates ($1.05B).

Between 2017 and 2018, the fastest growing importers of Motor vehicle parts nes were Germany ($2.04B), Mexico ($940M), Japan ($812M), United States ($788M), and France ($749M).

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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 Motor vehicle parts nes.

In 2018,  market concentration measured using Shannon Entropy, was 4.71. This means that most of the exports of Motor vehicle parts nes are explained by 26 countries.

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TOP NET EXPORTER (2018): South Korea, $6.82B

TOP NET IMPORTER (2018): United States, $10.3B

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

In 2018, the countries that had a largest trade value in exports than in imports of Motor vehicle parts nes were South Korea ($6.82B), Italy ($3.5B), Japan ($2.28B), China ($2.04B), and Germany ($1.5B).

In 2018, the countries that had a largest trade value in imports than in exports of Motor vehicle parts nes were United States ($10.3B), Russia ($1.74B), United Kingdom ($1.13B), Slovakia ($990M), and Brazil ($830M).

Trade Forecasts

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This section shows forecasts for total trade for Motor vehicle parts nes. 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 Motor vehicle parts nes was 8.7%.  The countries with the highest tariffs for importing Motor vehicle parts nes were Maldives (41.5%), Pakistan (35%), Bermuda (35%), Cape Verde (30%), and Thailand (28.6%).

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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.