HS Icon Bearings, ball

848210 (Harmonized System 1992 for 6-digit)

World Trade (2018): $14.5B, Rnk 197 / 4726

Top Exporter (2018): $2.85B, China

Top Importer (2018): $2.26B, Germany

Product Complexity (2018): 0.86, Rnk 1019 / 4873

Export Growth (CAGR)(2017 - 2018): 8.18%, Rnk 2935 / 4726

Mean Tariff (2018): 4.76%, Rnk 4325 / 6538

Share of World Trade (2018): 0.079%, Rnk 197 / 4726

Overview: In 2018, Bearings, ball were the world's 197th most traded product, with a total trade of $14.5B. Between 2017 and 2018 the exports of Bearings, ball grew by 8.18%, from  $13.4B to $14.5B. Trade in Bearings, ball represent 0.079% of total world trade.

Exports: In 2018 the top exporters of Bearings, ball  were China ($2.85B), Japan ($2.04B), Germany ($1.87B), Italy ($954M), and France ($895M).

Imports: In 2018 the top importers of Bearings, ball were Germany ($2.26B), United States ($1.44B), China ($1.29B), Italy ($623M), and France ($579M).

Tariffs: In 2018 the average tariff for Bearings, ball was 4.76%, been the 4325 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Bearings, ball are Bahamas (40.2%), Maldives (34.2%), Bermuda (25%), Cape Verde (20%), and Ethiopia (19.8%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), South Africa (0%), Hong Kong (0%), and Japan (0%).

Ranking: Bearings, ball ranks 1019th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $2.85B

Top Destination (2018): Germany, $2.26B

Bearings, ball are the world's 197th most traded product.

In 2018, the top exporters of Bearings, ball were China ($2.85B), Japan ($2.04B), Germany ($1.87B), Italy ($954M), and France ($895M).

In 2018, the top importers of Bearings, ball were Germany ($2.26B), United States ($1.44B), China ($1.29B), Italy ($623M), and France ($579M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $316M

Top Destination Growth (2017 - 2018): Germany, $318M

Between 2017 and 2018, the exports of Bearings, ball grew the fastest in Germany ($316M), China ($293M), Netherlands ($169M), South Korea ($128M), and Italy ($120M).

Between 2017 and 2018, the fastest growing importers of Bearings, ball were Germany ($318M), United States ($212M), India ($153M), Netherlands ($83.5M), and Italy ($78M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Bearings, ball.

In 2018,  market concentration measured using Shannon Entropy, was 4.19. This means that most of the exports of Bearings, ball are explained by 18 countries.

TOP NET EXPORTER (2018): Japan, $1.64B

TOP NET IMPORTER (2018): United States, $794M

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

In 2018, the countries that had a largest trade value in exports than imports of Bearings, ball were Japan ($1.64B), China ($1.57B), Italy ($331M), France ($316M), and South Korea ($219M).

In 2018, the countries that had a largest trade value in imports than exports of Bearings, ball were United States ($794M), India ($456M), Germany ($383M), Mexico ($364M), and Hong Kong ($267M).

Trade Forecasts

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This section shows forecasts for total trade for Bearings, ball. 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 Bearings, ball was 4.76%.  The countries with the highest tariffs for importing Bearings, ball were Bahamas (40.2%), Maldives (34.2%), Bermuda (25%), Cape Verde (20%), and Ethiopia (19.8%).

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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.