HS Icon Armored vehicles

8710 (Harmonized System 1992 for 4-digit)

World Trade (2018): $2.86B, Rnk 639 / 1225

Top Exporter (2018): $564M, Belgium-Luxembourg

Top Importer (2018): $529M, Canada

Product Complexity (2018): 0.6, Rnk 335 / 1018

Export Growth (CAGR)(2017 - 2018): 38.1%, Rnk 113 / 1225

Mean Tariff (2018): 5.95%, Rnk 709 / 1259

Share of World Trade (2018): 0.016%, Rnk 639 / 1225

Overview:  This page contains the latest trade data of Armored vehicles. In 2018, Armored vehicles were the world's 639th most traded product, with a total trade of $2.86B. Between 2017 and 2018 the exports of Armored vehicles grew by 38.1%, from  $2.07B to $2.86B. Trade in Armored vehicles represent 0.016% of total world trade.

Exports: In 2018 the top exporters of Armored vehicles  were Belgium-Luxembourg ($564M), United States ($460M), Canada ($294M), Germany ($239M), and Austria ($185M).

Imports: In 2018 the top importers of Armored vehicles were Canada ($529M), United States ($256M), Australia ($254M), Belgium-Luxembourg ($227M), and Japan ($201M).

Tariffs: In 2018 the average tariff for Armored vehicles was 5.95%, been the 709 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Armored vehicles are Bermuda (35%), Maldives (34.2%), Fiji (31.1%), Ecuador (27.6%), and Romania (25.7%). The countries with the lowest tariffs are Angola (0%), Algeria (0%), Egypt (0%), Ethiopia (0%), and Kenya (0%).

Ranking: Armored vehicles ranks 335th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Belgium-Luxembourg, $564M

Top Destination (2018): Canada, $529M

Armored vehicles are the world's 639th most traded product.

In 2018, the top exporters of Armored vehicles were Belgium-Luxembourg ($564M), United States ($460M), Canada ($294M), Germany ($239M), and Austria ($185M).

In 2018, the top importers of Armored vehicles were Canada ($529M), United States ($256M), Australia ($254M), Belgium-Luxembourg ($227M), and Japan ($201M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Belgium-Luxembourg, $506M

Top Destination Growth (2017 - 2018): Canada, $501M

Between 2017 and 2018, the exports of Armored vehicles grew the fastest in Belgium-Luxembourg ($506M), Canada ($156M), France ($118M), China ($56.4M), and Germany ($55.3M).

Between 2017 and 2018, the fastest growing importers of Armored vehicles were Canada ($501M), Belgium-Luxembourg ($210M), Japan ($187M), Thailand ($161M), and Brazil ($69.4M).

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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 Armored vehicles.

In 2018,  market concentration measured using Shannon Entropy, was 3.98. This means that most of the exports of Armored vehicles are explained by 15 countries.

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TOP NET EXPORTER (2018): Belgium-Luxembourg, $337M

TOP NET IMPORTER (2018): Australia, $238M

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

In 2018, the countries that had a largest trade value in exports than in imports of Armored vehicles were Belgium-Luxembourg ($337M), United States ($204M), Austria ($185M), Germany ($182M), and France ($127M).

In 2018, the countries that had a largest trade value in imports than in exports of Armored vehicles were Australia ($238M), Canada ($235M), Japan ($195M), Thailand ($161M), and Indonesia ($95.8M).

Trade Forecasts

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This section shows forecasts for total trade for Armored 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 Armored vehicles was 5.95%.  The countries with the highest tariffs for importing Armored vehicles were Bermuda (35%), Maldives (34.2%), Fiji (31.1%), Ecuador (27.6%), and Romania (25.7%).

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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.