HS Icon Tensile Testing Machines

9024 (Harmonized System 1992 for 4-digit)

World Trade (2018): $2.45B, Rnk 684 / 1225

Top Exporter (2018): $605M, United States

Top Importer (2018): $449M, China

Product Complexity (2018): 1.63, Rnk 30 / 1018

Export Growth (CAGR)(2017 - 2018): 12.9%, Rnk 622 / 1225

Mean Tariff (2018): 4.72%, Rnk 874 / 1259

Share of World Trade (2018): 0.013%, Rnk 684 / 1225

Overview:  This page contains the latest trade data of Tensile Testing Machines. In 2018, Tensile Testing Machines were the world's 684th most traded product, with a total trade of $2.45B. Between 2017 and 2018 the exports of Tensile Testing Machines grew by 12.9%, from  $2.17B to $2.45B. Trade in Tensile Testing Machines represent 0.013% of total world trade.

Exports: In 2018 the top exporters of Tensile Testing Machines  were United States ($605M), Germany ($544M), United Kingdom ($235M), Italy ($144M), and China ($133M).

Imports: In 2018 the top importers of Tensile Testing Machines were China ($449M), United States ($185M), Germany ($160M), South Korea ($118M), and India ($104M).

Tariffs: In 2018 the average tariff for Tensile Testing Machines was 4.72%, been the 874 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Tensile Testing Machines are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Iran (14.7%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Tensile Testing Machines ranks 30th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $605M

Top Destination (2018): China, $449M

Tensile Testing Machines are the world's 684th most traded product.

In 2018, the top exporters of Tensile Testing Machines were United States ($605M), Germany ($544M), United Kingdom ($235M), Italy ($144M), and China ($133M).

In 2018, the top importers of Tensile Testing Machines were China ($449M), United States ($185M), Germany ($160M), South Korea ($118M), and India ($104M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $122M

Top Destination Growth (2017 - 2018): China, $116M

Between 2017 and 2018, the exports of Tensile Testing Machines grew the fastest in United States ($122M), Germany ($83.9M), Italy ($26.4M), Chinese Taipei ($23.9M), and Netherlands ($20.9M).

Between 2017 and 2018, the fastest growing importers of Tensile Testing Machines were China ($116M), Germany ($42.5M), Chinese Taipei ($22.3M), Brazil ($13.6M), and Vietnam ($12.3M).

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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 Tensile Testing Machines.

In 2018,  market concentration measured using Shannon Entropy, was 3.81. This means that most of the exports of Tensile Testing Machines are explained by 14 countries.

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TOP NET EXPORTER (2018): United States, $420M

TOP NET IMPORTER (2018): China, $315M

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

In 2018, the countries that had a largest trade value in exports than in imports of Tensile Testing Machines were United States ($420M), Germany ($384M), United Kingdom ($160M), Italy ($93.6M), and Switzerland ($55.1M).

In 2018, the countries that had a largest trade value in imports than in exports of Tensile Testing Machines were China ($315M), South Korea ($87.1M), India ($83.6M), Mexico ($80.5M), and Russia ($54.8M).

Trade Forecasts

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This section shows forecasts for total trade for Tensile Testing Machines. 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 Tensile Testing Machines was 4.72%.  The countries with the highest tariffs for importing Tensile Testing Machines were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Iran (14.7%).

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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.