HS Icon Medical Instruments

9018 (Harmonized System 1992 for 4-digit)

World Trade (2018): $117B, Rnk 20 / 1225

Top Exporter (2018): $21.7B, United States

Top Importer (2018): $24.5B, United States

Product Complexity (2018): 0.69, Rnk 284 / 1018

Export Growth (CAGR)(2017 - 2018): 21.2%, Rnk 306 / 1225

Mean Tariff (2018): 3.61%, Rnk 1065 / 1259

Share of World Trade (2018): 0.64%, Rnk 20 / 1225

Overview: In 2018, Medical Instruments were the world's 20th most traded product, with a total trade of $117B. Between 2017 and 2018 the exports of Medical Instruments grew by 21.2%, from  $96.5B to $117B. Trade in Medical Instruments represent 0.64% of total world trade.

Exports: In 2018 the top exporters of Medical Instruments  were United States ($21.7B), Germany ($15.5B), Netherlands ($9.51B), Mexico ($8.9B), and China ($7.17B).

Imports: In 2018 the top importers of Medical Instruments were United States ($24.5B), Germany ($10.2B), Netherlands ($9.42B), China ($7.81B), and Japan ($6.53B).

Tariffs: In 2018 the average tariff for Medical Instruments was 3.61%, been the 1065 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Medical Instruments are Bermuda (23.2%), Iran (15.2%), Aruba (12%), Cuba (10.1%), and Jamaica (10%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Madagascar (0%), Mauritius (0%), and Tanzania (0%).

Ranking: Medical Instruments ranks 284th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $21.7B

Top Destination (2018): United States, $24.5B

Medical Instruments are the world's 20th most traded product.

In 2018, the top exporters of Medical Instruments were United States ($21.7B), Germany ($15.5B), Netherlands ($9.51B), Mexico ($8.9B), and China ($7.17B).

In 2018, the top importers of Medical Instruments were United States ($24.5B), Germany ($10.2B), Netherlands ($9.42B), China ($7.81B), and Japan ($6.53B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Netherlands, $3.79B

Top Destination Growth (2017 - 2018): United States, $9.26B

Between 2017 and 2018, the exports of Medical Instruments grew the fastest in Netherlands ($3.79B), Mexico ($3.76B), United States ($2.41B), Germany ($1.66B), and Costa Rica ($1.49B).

Between 2017 and 2018, the fastest growing importers of Medical Instruments were United States ($9.26B), Netherlands ($1.36B), Germany ($1.17B), Japan ($820M), and China ($767M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Medical Instruments.

In 2018,  market concentration measured using Shannon Entropy, was 4.36. This means that most of the exports of Medical Instruments are explained by 20 countries.

TOP NET EXPORTER (2018): Mexico, $7.49B

TOP NET IMPORTER (2018): United States, $2.77B

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

In 2018, the countries that had a largest trade value in exports than imports of Medical Instruments were Mexico ($7.49B), Ireland ($5.3B), Germany ($5.3B), Costa Rica ($2.29B), and Switzerland ($1.82B).

In 2018, the countries that had a largest trade value in imports than exports of Medical Instruments were United States ($2.77B), Spain ($1.85B), Russia ($1.6B), United Kingdom ($1.46B), and Brazil ($1.31B).

Trade Forecasts

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This section shows forecasts for total trade for Medical Instruments. 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 Medical Instruments was 3.61%.  The countries with the highest tariffs for importing Medical Instruments were Bermuda (23.2%), Iran (15.2%), Aruba (12%), Cuba (10.1%), and Jamaica (10%).

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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.