HS Icon Machines for balancing mechanical parts, nes

903110 (Harmonized System 1992 for 6-digit)

World Trade (2018): $608M, Rnk 2572 / 4726

Top Exporter (2018): $133M, Germany

Top Importer (2018): $105M, China

Product Complexity (2018): 1.76, Rnk 102 / 4873

Export Growth (CAGR)(2017 - 2018): 18.4%, Rnk 1528 / 4726

Mean Tariff (2018): 4.68%, Rnk 4391 / 6538

Share of World Trade (2018): 0.0033%, Rnk 2572 / 4726

Overview: In 2018, Machines for balancing mechanical parts, nes were the world's 2572nd most traded product, with a total trade of $608M. Between 2017 and 2018 the exports of Machines for balancing mechanical parts, nes grew by 18.4%, from  $514M to $608M. Trade in Machines for balancing mechanical parts, nes represent 0.0033% of total world trade.

Exports: In 2018 the top exporters of Machines for balancing mechanical parts, nes  were Germany ($133M), Italy ($106M), United States ($99.7M), Japan ($65.6M), and China ($55.2M).

Imports: In 2018 the top importers of Machines for balancing mechanical parts, nes were China ($105M), United States ($63M), Mexico ($43.1M), Germany ($34.2M), and India ($28M).

Tariffs: In 2018 the average tariff for Machines for balancing mechanical parts, nes was 4.68%, been the 4391 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Machines for balancing mechanical parts, nes are Bahamas (40.2%), Ethiopia (29.7%), Bermuda (25%), Maldives (19.6%), and Cambodia (15%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Machines for balancing mechanical parts, nes ranks 102nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $133M

Top Destination (2018): China, $105M

Machines for balancing mechanical parts, nes are the world's 2572nd most traded product.

In 2018, the top exporters of Machines for balancing mechanical parts, nes were Germany ($133M), Italy ($106M), United States ($99.7M), Japan ($65.6M), and China ($55.2M).

In 2018, the top importers of Machines for balancing mechanical parts, nes were China ($105M), United States ($63M), Mexico ($43.1M), Germany ($34.2M), and India ($28M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $38.7M

Top Destination Growth (2017 - 2018): Mexico, $21.1M

Between 2017 and 2018, the exports of Machines for balancing mechanical parts, nes grew the fastest in United States ($38.7M), United Kingdom ($12.1M), Germany ($11.2M), Thailand ($8.57M), and Japan ($6.75M).

Between 2017 and 2018, the fastest growing importers of Machines for balancing mechanical parts, nes were Mexico ($21.1M), China ($11.8M), India ($11.3M), France ($9.44M), and Thailand ($6.28M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Machines for balancing mechanical parts, nes.

In 2018,  market concentration measured using Shannon Entropy, was 3.55. This means that most of the exports of Machines for balancing mechanical parts, nes are explained by 11 countries.

TOP NET EXPORTER (2018): Germany, $98.8M

TOP NET IMPORTER (2018): China, $50.2M

This map shows which countries export or import more of Machines for balancing mechanical parts, nes. Each country is colored based on the difference in exports and imports of Machines for balancing mechanical parts, nes during 2018.

In 2018, the countries that had a largest trade value in exports than imports of Machines for balancing mechanical parts, nes were Germany ($98.8M), Italy ($98.3M), Japan ($51.5M), United States ($36.7M), and United Kingdom ($26.5M).

In 2018, the countries that had a largest trade value in imports than exports of Machines for balancing mechanical parts, nes were China ($50.2M), Mexico ($42.4M), India ($20.1M), France ($14M), and Thailand ($11.7M).

Trade Forecasts

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This section shows forecasts for total trade for Machines for balancing mechanical parts, nes. 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 Machines for balancing mechanical parts, nes was 4.68%.  The countries with the highest tariffs for importing Machines for balancing mechanical parts, nes were Bahamas (40.2%), Ethiopia (29.7%), Bermuda (25%), Maldives (19.6%), and Cambodia (15%).

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