HS Icon Combustion Engines

8408 (Harmonized System 1992 for 4-digit)

World Trade (2018): $50.8B, Rnk 70 / 1225

Top Exporter (2018): $7.71B, United States

Top Importer (2018): $6.76B, United States

Export Growth (CAGR)(2017 - 2018): 7.92%, Rnk 866 / 1225

Mean Tariff (2018): 6.07%, Rnk 694 / 1259

Share of World Trade (2018): 0.28%, Rnk 70 / 1225

Overview:  This page contains the latest trade data of Combustion Engines. In 2018, Combustion Engines were the world's 70th most traded product, with a total trade of $50.8B. Between 2017 and 2018 the exports of Combustion Engines grew by 7.92%, from  $47.1B to $50.8B. Trade in Combustion Engines represent 0.28% of total world trade.

Exports: In 2018 the top exporters of Combustion Engines  were United States ($7.71B), Germany ($7.21B), Japan ($4.81B), United Kingdom ($4.45B), and France ($3.15B).

Imports: In 2018 the top importers of Combustion Engines were United States ($6.76B), Mexico ($5.41B), Germany ($4.8B), China ($3.17B), and Spain ($2.48B).

Tariffs: In 2018 the average tariff for Combustion Engines was 6.07%, been the 694 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Combustion Engines are Maldives (34.3%), Angola (25%), Bermuda (25%), Pakistan (23.2%), and Bahamas (21.2%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Zambia (0%), Hong Kong (0%), and Japan (0%).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $7.71B

Top Destination (2018): United States, $6.76B

Combustion Engines are the world's 70th most traded product.

In 2018, the top exporters of Combustion Engines were United States ($7.71B), Germany ($7.21B), Japan ($4.81B), United Kingdom ($4.45B), and France ($3.15B).

In 2018, the top importers of Combustion Engines were United States ($6.76B), Mexico ($5.41B), Germany ($4.8B), China ($3.17B), and Spain ($2.48B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $1.13B

Top Destination Growth (2017 - 2018): Mexico, $885M

Between 2017 and 2018, the exports of Combustion Engines grew the fastest in United States ($1.13B), United Kingdom ($724M), Germany ($649M), Thailand ($438M), and Japan ($411M).

Between 2017 and 2018, the fastest growing importers of Combustion Engines were Mexico ($885M), United States ($757M), China ($403M), South Africa ($336M), and Thailand ($332M).

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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 Combustion Engines.

In 2018,  market concentration measured using Shannon Entropy, was 4.1. This means that most of the exports of Combustion Engines are explained by 17 countries.

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TOP NET EXPORTER (2018): Japan, $3.91B

TOP NET IMPORTER (2018): Mexico, $3.51B

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

In 2018, the countries that had a largest trade value in exports than in imports of Combustion Engines were Japan ($3.91B), Germany ($2.41B), Sweden ($2.33B), United Kingdom ($2.28B), and Hungary ($1.96B).

In 2018, the countries that had a largest trade value in imports than in exports of Combustion Engines were Mexico ($3.51B), Turkey ($2.08B), China ($1.59B), Czechia ($1.21B), and Spain ($902M).

Trade Forecasts

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This section shows forecasts for total trade for Combustion Engines. 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 Combustion Engines was 6.07%.  The countries with the highest tariffs for importing Combustion Engines were Maldives (34.3%), Angola (25%), Bermuda (25%), Pakistan (23.2%), and Bahamas (21.2%).

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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.