Cranes8426 (Harmonized System 1992 for 4-digit)
2019 World Trade: $14.3B, Rnk 246 / 1217
2019 Top Exporter | Top Importer: $3.18B | $1.74B, China | United States
2019 Product Complexity: 0.64, Rnk 285 / 961
2018 - 2019 Export Growth (CAGR): -3.4%, Rnk 654 / 1217
2018 Mean Tariff: 5.31%, Rnk 773 / 1259
2019 Share of World Trade: 0.079%, Rnk 246 / 1217
Overview: This page contains the latest trade data of Cranes. In 2019, Cranes were the world's 246th most traded product, with a total trade of $14.3B. Between 2018 and 2019 the exports of Cranes decreased by -3.4%, from $14.8B to $14.3B. Trade in Cranes represent 0.079% of total world trade.
Exports: In 2019 the top exporters of Cranes were China ($3.18B), Germany ($1.91B), Italy ($1.28B), Japan ($1.16B), and Austria ($815M).
Imports: In 2019 the top importers of Cranes were United States ($1.74B), Germany ($733M), Indonesia ($556M), France ($539M), and Russia ($497M).
Tariffs: In 2018 the average tariff for Cranes was 5.31%, making it the 773rd lowest tariff using the HS4 product classification.
The countries with the highest import tariffs for Cranes are Bahamas (40.2%), Bermuda (35%), Maldives (28.3%), Iran (15%), and Cambodia (15%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).
Ranking: Cranes ranks 285th in the Product Complexity Index (PCI).
Description: Ships' derricks are used to move heavy objects, such as ships. They can be made from a variety of materials, including steel and aluminum.
Trade By Country
Top Origin (2019): China, $3.18B
Top Destination (2019): United States, $1.74B
Cranes are the world's 246th most traded product.
In 2019, the top exporters of Cranes were China ($3.18B), Germany ($1.91B), Italy ($1.28B), Japan ($1.16B), and Austria ($815M).
In 2019, the top importers of Cranes were United States ($1.74B), Germany ($733M), Indonesia ($556M), France ($539M), and Russia ($497M).
Trade by country
Between 2018 and 2019, the exports of Cranes grew the fastest in Japan ($122M), South Korea ($116M), Finland ($101M), Brunei ($42.5M), and Norway ($40.1M).
Between 2018 and 2019, the fastest growing importers of Cranes were Russia ($193M), Saudi Arabia ($105M), Indonesia ($98.1M), United States ($93.1M), and Canada ($86.3M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Cranes.
In 2019, market concentration measured using Shannon Entropy, was 4.34. This means that most of the exports of Cranes are explained by 20 countries.
TOP NET EXPORTER (2019): China, $2.96B
TOP NET IMPORTER (2019): United States, $1.18B
This map shows which countries export or import more of Cranes. Each country is colored based on the difference in exports and imports of Cranes during 2019.
In 2019, the countries that had a largest trade value in exports than in imports of Cranes were China ($2.96B), Germany ($1.17B), Italy ($1.07B), Japan ($966M), and Austria ($607M).
In 2019, the countries that had a largest trade value in imports than in exports of Cranes were United States ($1.18B), Indonesia ($544M), Russia ($421M), Canada ($279M), and Singapore ($267M).
In 2019, the world most traded Cranes, disaggragated by their HS6 level were Transporter or bridge cranes ($2.77B), Cranes & lifting frames, self-propelled, on... ($2.44B), Cranes designed for mounting on road... ($2.33B), Cranes & lifting frames, self-propelled, not... ($2.29B), and Tower cranes ($1.75B)
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.
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