HS Icon Bi-Wheel Vehicle Parts

8714 (Harmonized System 1992 for 4-digit)

World Trade (2018): $20B, Rnk 188 / 1225

Top Exporter (2018): $6.13B, China

Top Importer (2018): $2.26B, Germany

Product Complexity (2018): 0.97, Rnk 182 / 1018

Export Growth (CAGR)(2017 - 2018): 15.9%, Rnk 476 / 1225

Mean Tariff (2018): 8.44%, Rnk 512 / 1259

Share of World Trade (2018): 0.11%, Rnk 188 / 1225

Overview: In 2018, Bi-Wheel Vehicle Parts were the world's 188th most traded product, with a total trade of $20B. Between 2017 and 2018 the exports of Bi-Wheel Vehicle Parts grew by 15.9%, from  $17.2B to $20B. Trade in Bi-Wheel Vehicle Parts represent 0.11% of total world trade.

Exports: In 2018 the top exporters of Bi-Wheel Vehicle Parts  were China ($6.13B), Chinese Taipei ($2.93B), Japan ($1.68B), Italy ($1.16B), and Germany ($848M).

Imports: In 2018 the top importers of Bi-Wheel Vehicle Parts were Germany ($2.26B), United States ($1.59B), Chinese Taipei ($1B), Netherlands ($928M), and Italy ($854M).

Tariffs: In 2018 the average tariff for Bi-Wheel Vehicle Parts was 8.44%, been the 512 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Bi-Wheel Vehicle Parts are Iran (33.3%), Vietnam (33.2%), Maldives (28%), Cape Verde (26.7%), and Algeria (24.2%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Bi-Wheel Vehicle Parts ranks 182nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $6.13B

Top Destination (2018): Germany, $2.26B

Bi-Wheel Vehicle Parts are the world's 188th most traded product.

In 2018, the top exporters of Bi-Wheel Vehicle Parts were China ($6.13B), Chinese Taipei ($2.93B), Japan ($1.68B), Italy ($1.16B), and Germany ($848M).

In 2018, the top importers of Bi-Wheel Vehicle Parts were Germany ($2.26B), United States ($1.59B), Chinese Taipei ($1B), Netherlands ($928M), and Italy ($854M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $718M

Top Destination Growth (2017 - 2018): United States, $348M

Between 2017 and 2018, the exports of Bi-Wheel Vehicle Parts grew the fastest in China ($718M), Chinese Taipei ($570M), Thailand ($297M), Vietnam ($209M), and India ($198M).

Between 2017 and 2018, the fastest growing importers of Bi-Wheel Vehicle Parts were United States ($348M), Philippines ($228M), India ($227M), Vietnam ($189M), and Cambodia ($182M).

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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 Bi-Wheel Vehicle Parts.

In 2018,  market concentration measured using Shannon Entropy, was 3.85. This means that most of the exports of Bi-Wheel Vehicle Parts are explained by 14 countries.

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TOP NET EXPORTER (2018): China, $5.54B

TOP NET IMPORTER (2018): Germany, $1.41B

This map shows which countries export or import more of Bi-Wheel Vehicle Parts. Each country is colored based on the difference in exports and imports of Bi-Wheel Vehicle Parts during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Bi-Wheel Vehicle Parts were China ($5.54B), Chinese Taipei ($1.92B), Japan ($1.12B), Italy ($306M), and Thailand ($201M).

In 2018, the countries that had a largest trade value in imports than in exports of Bi-Wheel Vehicle Parts were Germany ($1.41B), United States ($905M), Brazil ($569M), France ($508M), and Netherlands ($488M).

Trade Forecasts

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This section shows forecasts for total trade for Bi-Wheel Vehicle Parts. 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 Bi-Wheel Vehicle Parts was 8.44%.  The countries with the highest tariffs for importing Bi-Wheel Vehicle Parts were Iran (33.3%), Vietnam (33.2%), Maldives (28%), Cape Verde (26.7%), and Algeria (24.2%).

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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.