HS Icon Other Sea Vessels

8906 (Harmonized System 1992 for 4-digit)

World Trade (2018): $6.32B, Rnk 447 / 1225

Top Exporter (2018): $1.17B, South Korea

Top Importer (2018): $823M, Norway

Product Complexity (2018): 0.056, Rnk 523 / 1018

Export Growth (CAGR)(2017 - 2018): 85.6%, Rnk 19 / 1225

Mean Tariff (2018): 4.52%, Rnk 906 / 1259

Share of World Trade (2018): 0.034%, Rnk 447 / 1225

Overview: In 2018, Other Sea Vessels were the world's 447th most traded product, with a total trade of $6.32B. Between 2017 and 2018 the exports of Other Sea Vessels grew by 85.6%, from  $3.41B to $6.32B. Trade in Other Sea Vessels represent 0.034% of total world trade.

Exports: In 2018 the top exporters of Other Sea Vessels  were South Korea ($1.17B), China ($705M), Saudi Arabia ($677M), India ($456M), and Singapore ($315M).

Imports: In 2018 the top importers of Other Sea Vessels were Norway ($823M), United Arab Emirates ($551M), Qatar ($471M), Thailand ($468M), and Saudi Arabia ($445M).

Tariffs: In 2018 the average tariff for Other Sea Vessels was 4.52%, been the 906 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Other Sea Vessels are Bermuda (35%), Fiji (31.1%), Liberia (18.9%), Maldives (18.3%), and Bahamas (17.8%). The countries with the lowest tariffs are Angola (0%), Algeria (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Other Sea Vessels ranks 523rd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): South Korea, $1.17B

Top Destination (2018): Norway, $823M

Other Sea Vessels are the world's 447th most traded product.

In 2018, the top exporters of Other Sea Vessels were South Korea ($1.17B), China ($705M), Saudi Arabia ($677M), India ($456M), and Singapore ($315M).

In 2018, the top importers of Other Sea Vessels were Norway ($823M), United Arab Emirates ($551M), Qatar ($471M), Thailand ($468M), and Saudi Arabia ($445M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Saudi Arabia, $677M

Top Destination Growth (2017 - 2018): United Arab Emirates, $543M

Between 2017 and 2018, the exports of Other Sea Vessels grew the fastest in Saudi Arabia ($677M), South Korea ($656M), China ($609M), India ($454M), and Cyprus ($277M).

Between 2017 and 2018, the fastest growing importers of Other Sea Vessels were United Arab Emirates ($543M), Qatar ($469M), Thailand ($467M), Saudi Arabia ($434M), and Norway ($403M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Other Sea Vessels.

In 2018,  market concentration measured using Shannon Entropy, was 4.23. This means that most of the exports of Other Sea Vessels are explained by 18 countries.

TOP NET EXPORTER (2018): South Korea, $1.05B

TOP NET IMPORTER (2018): Norway, $527M

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

In 2018, the countries that had a largest trade value in exports than imports of Other Sea Vessels were South Korea ($1.05B), China ($680M), India ($341M), Singapore ($290M), and Romania ($287M).

In 2018, the countries that had a largest trade value in imports than exports of Other Sea Vessels were Norway ($527M), United Arab Emirates ($520M), Qatar ($471M), Thailand ($466M), and Indonesia ($381M).

Trade Forecasts

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This section shows forecasts for total trade for Other Sea Vessels. 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 Other Sea Vessels was 4.52%.  The countries with the highest tariffs for importing Other Sea Vessels were Bermuda (35%), Fiji (31.1%), Liberia (18.9%), Maldives (18.3%), and Bahamas (17.8%).

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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.