HS Icon Recreational Boats

8903 (Harmonized System 1992 for 4-digit)

World Trade (2018): $16.1B, Rnk 227 / 1225

Top Exporter (2018): $2.34B, Netherlands

Top Importer (2018): $3.17B, Cayman Islands

Product Complexity (2018): 0.29, Rnk 442 / 1018

Export Growth (CAGR)(2017 - 2018): 6.97%, Rnk 892 / 1225

Mean Tariff (2018): 11.2%, Rnk 357 / 1259

Share of World Trade (2018): 0.088%, Rnk 227 / 1225

Overview: In 2018, Recreational Boats were the world's 227th most traded product, with a total trade of $16.1B. Between 2017 and 2018 the exports of Recreational Boats grew by 6.97%, from  $15B to $16.1B. Trade in Recreational Boats represent 0.088% of total world trade.

Exports: In 2018 the top exporters of Recreational Boats  were Netherlands ($2.34B), Italy ($2.11B), United States ($1.49B), France ($1.12B), and United Kingdom ($1.11B).

Imports: In 2018 the top importers of Recreational Boats were Cayman Islands ($3.17B), United States ($2.26B), Netherlands ($788M), Malta ($673M), and Canada ($673M).

Tariffs: In 2018 the average tariff for Recreational Boats was 11.2%, been the 357 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Recreational Boats are Cambodia (35%), Sudan (35%), Iran (30%), Ethiopia (29.7%), and Cameroon (29.4%). The countries with the lowest tariffs are Mauritius (0%), Zambia (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Recreational Boats ranks 442nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Netherlands, $2.34B

Top Destination (2018): Cayman Islands, $3.17B

Recreational Boats are the world's 227th most traded product.

In 2018, the top exporters of Recreational Boats were Netherlands ($2.34B), Italy ($2.11B), United States ($1.49B), France ($1.12B), and United Kingdom ($1.11B).

In 2018, the top importers of Recreational Boats were Cayman Islands ($3.17B), United States ($2.26B), Netherlands ($788M), Malta ($673M), and Canada ($673M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Cyprus, $710M

Top Destination Growth (2017 - 2018): Cayman Islands, $1.65B

Between 2017 and 2018, the exports of Recreational Boats grew the fastest in Cyprus ($710M), Netherlands ($468M), Cayman Islands ($441M), Seychelles ($189M), and Panama ($177M).

Between 2017 and 2018, the fastest growing importers of Recreational Boats were Cayman Islands ($1.65B), Cyprus ($325M), United States ($306M), France ($167M), and British Virgin Islands ($122M).

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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 Recreational Boats.

In 2018,  market concentration measured using Shannon Entropy, was 4.4. This means that most of the exports of Recreational Boats are explained by 21 countries.

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TOP NET EXPORTER (2018): Italy, $1.77B

TOP NET IMPORTER (2018): Cayman Islands, $2.22B

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

In 2018, the countries that had a largest trade value in exports than in imports of Recreational Boats were Italy ($1.77B), Netherlands ($1.55B), Germany ($745M), United Kingdom ($687M), and Mexico ($682M).

In 2018, the countries that had a largest trade value in imports than in exports of Recreational Boats were Cayman Islands ($2.22B), United States ($776M), Gibraltar ($652M), Malta ($626M), and Canada ($496M).

Trade Forecasts

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This section shows forecasts for total trade for Recreational Boats. 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 Recreational Boats was 11.2%.  The countries with the highest tariffs for importing Recreational Boats were Cambodia (35%), Sudan (35%), Iran (30%), Ethiopia (29.7%), and Cameroon (29.4%).

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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.