HS Icon Pneumatic tyres new of rubber for buses or lorries

401120 (Harmonized System 1992 for 6-digit)

World Trade (2018): $24.3B, Rnk 107 / 4726

Top Exporter (2018): $7.49B, China

Top Importer (2018): $4.34B, United States

Product Complexity (2018): 0.24, Rnk 2179 / 4873

Export Growth (CAGR)(2017 - 2018): 9.4%, Rnk 2769 / 4726

Mean Tariff (2018): 11%, Rnk 1978 / 6538

Share of World Trade (2018): 0.13%, Rnk 107 / 4726

Overview:  This page contains the latest trade data of Pneumatic tyres new of rubber for buses or lorries. In 2018, Pneumatic tyres new of rubber for buses or lorries were the world's 107th most traded product, with a total trade of $24.3B. Between 2017 and 2018 the exports of Pneumatic tyres new of rubber for buses or lorries grew by 9.4%, from  $22.2B to $24.3B. Trade in Pneumatic tyres new of rubber for buses or lorries represent 0.13% of total world trade.

Exports: In 2018 the top exporters of Pneumatic tyres new of rubber for buses or lorries  were China ($7.49B), Thailand ($1.77B), United States ($1.72B), Germany ($1.17B), and Japan ($1.09B).

Imports: In 2018 the top importers of Pneumatic tyres new of rubber for buses or lorries were United States ($4.34B), Germany ($1.65B), Mexico ($1.39B), Canada ($899M), and France ($897M).

Tariffs: In 2018 the average tariff for Pneumatic tyres new of rubber for buses or lorries was 11%, been the 1978 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Pneumatic tyres new of rubber for buses or lorries are Maldives (48.8%), Malaysia (40%), Bermuda (35%), Sudan (35%), and Iran (30%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Pneumatic tyres new of rubber for buses or lorries ranks 2179th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $7.49B

Top Destination (2018): United States, $4.34B

Pneumatic tyres new of rubber for buses or lorries are the world's 107th most traded product.

In 2018, the top exporters of Pneumatic tyres new of rubber for buses or lorries were China ($7.49B), Thailand ($1.77B), United States ($1.72B), Germany ($1.17B), and Japan ($1.09B).

In 2018, the top importers of Pneumatic tyres new of rubber for buses or lorries were United States ($4.34B), Germany ($1.65B), Mexico ($1.39B), Canada ($899M), and France ($897M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $887M

Top Destination Growth (2017 - 2018): Mexico, $164M

Between 2017 and 2018, the exports of Pneumatic tyres new of rubber for buses or lorries grew the fastest in China ($887M), Thailand ($369M), United States ($315M), United Arab Emirates ($138M), and Germany ($133M).

Between 2017 and 2018, the fastest growing importers of Pneumatic tyres new of rubber for buses or lorries were Mexico ($164M), Germany ($149M), United States ($145M), France ($122M), and Vietnam ($111M).

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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 Pneumatic tyres new of rubber for buses or lorries.

In 2018,  market concentration measured using Shannon Entropy, was 4.14. This means that most of the exports of Pneumatic tyres new of rubber for buses or lorries are explained by 17 countries.

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TOP NET EXPORTER (2018): China, $7.44B

TOP NET IMPORTER (2018): United States, $2.62B

This map shows which countries export or import more of Pneumatic tyres new of rubber for buses or lorries. Each country is colored based on the difference in exports and imports of Pneumatic tyres new of rubber for buses or lorries during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Pneumatic tyres new of rubber for buses or lorries were China ($7.44B), Thailand ($1.65B), Japan ($939M), Slovakia ($856M), and South Korea ($716M).

In 2018, the countries that had a largest trade value in imports than in exports of Pneumatic tyres new of rubber for buses or lorries were United States ($2.62B), Mexico ($1.29B), Australia ($567M), Germany ($485M), and Saudi Arabia ($479M).

Trade Forecasts

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This section shows forecasts for total trade for Pneumatic tyres new of rubber for buses or lorries. 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 Pneumatic tyres new of rubber for buses or lorries was 11%.  The countries with the highest tariffs for importing Pneumatic tyres new of rubber for buses or lorries were Maldives (48.8%), Malaysia (40%), Bermuda (35%), Sudan (35%), and Iran (30%).

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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.