HS Icon Buses

8702 (Harmonized System 1992 for 4-digit)

World Trade (2018): $17.9B, Rnk 207 / 1225

Top Exporter (2018): $2.38B, China

Top Importer (2018): $1.34B, United States

Product Complexity (2018): 0.38, Rnk 422 / 1018

Export Growth (CAGR)(2017 - 2018): 6.5%, Rnk 914 / 1225

Mean Tariff (2018): 13.2%, Rnk 265 / 1259

Share of World Trade (2018): 0.097%, Rnk 207 / 1225

Overview:  This page contains the latest trade data of Buses. In 2018, Buses were the world's 207th most traded product, with a total trade of $17.9B. Between 2017 and 2018 the exports of Buses grew by 6.5%, from  $16.8B to $17.9B. Trade in Buses represent 0.097% of total world trade.

Exports: In 2018 the top exporters of Buses  were China ($2.38B), Japan ($2.25B), Turkey ($1.98B), Germany ($1.55B), and Poland ($1.08B).

Imports: In 2018 the top importers of Buses were United States ($1.34B), Germany ($1.12B), Canada ($990M), France ($952M), and Italy ($880M).

Tariffs: In 2018 the average tariff for Buses was 13.2%, been the 265 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Buses are Maldives (85.7%), Vietnam (47.9%), Thailand (38%), Nepal (34.6%), and India (34%). The countries with the lowest tariffs are Hong Kong (0%), Japan (0%), Singapore (0%), Switzerland (0%), and Norway (0%).

Ranking: Buses ranks 422nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $2.38B

Top Destination (2018): United States, $1.34B

Buses are the world's 207th most traded product.

In 2018, the top exporters of Buses were China ($2.38B), Japan ($2.25B), Turkey ($1.98B), Germany ($1.55B), and Poland ($1.08B).

In 2018, the top importers of Buses were United States ($1.34B), Germany ($1.12B), Canada ($990M), France ($952M), and Italy ($880M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): North Macedonia, $233M

Top Destination Growth (2017 - 2018): United States, $300M

Between 2017 and 2018, the exports of Buses grew the fastest in North Macedonia ($233M), United Arab Emirates ($223M), Turkey ($206M), Poland ($189M), and Belgium-Luxembourg ($187M).

Between 2017 and 2018, the fastest growing importers of Buses were United States ($300M), Italy ($281M), Belgium-Luxembourg ($215M), Canada ($201M), and Saudi Arabia ($152M).

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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 Buses.

In 2018,  market concentration measured using Shannon Entropy, was 4.45. This means that most of the exports of Buses are explained by 21 countries.

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TOP NET EXPORTER (2018): China, $2.35B

TOP NET IMPORTER (2018): Italy, $805M

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

In 2018, the countries that had a largest trade value in exports than in imports of Buses were China ($2.35B), Japan ($2.22B), Turkey ($1.96B), Poland ($840M), and South Korea ($670M).

In 2018, the countries that had a largest trade value in imports than in exports of Buses were Italy ($805M), Philippines ($585M), France ($465M), Saudi Arabia ($464M), and Canada ($327M).

Trade Forecasts

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This section shows forecasts for total trade for Buses. 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 Buses was 13.2%.  The countries with the highest tariffs for importing Buses were Maldives (85.7%), Vietnam (47.9%), Thailand (38%), Nepal (34.6%), and India (34%).

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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.