HS Icon Cranes

8426 (Harmonized System 1992 for 4-digit)

World Trade (2018): $14.7B, Rnk 250 / 1225

Top Exporter (2018): $3.5B, China

Top Importer (2018): $1.64B, United States

Product Complexity (2018): 0.73, Rnk 275 / 1018

Export Growth (CAGR)(2017 - 2018): 10.4%, Rnk 756 / 1225

Mean Tariff (2018): 5.31%, Rnk 773 / 1259

Share of World Trade (2018): 0.08%, Rnk 250 / 1225

Overview:  This page contains the latest trade data of Cranes. In 2018, Cranes were the world's 250th most traded product, with a total trade of $14.7B. Between 2017 and 2018 the exports of Cranes grew by 10.4%, from  $13.3B to $14.7B. Trade in Cranes represent 0.08% of total world trade.

Exports: In 2018 the top exporters of Cranes  were China ($3.5B), Germany ($1.86B), Italy ($1.44B), Japan ($1.03B), and Austria ($827M).

Imports: In 2018 the top importers of Cranes were United States ($1.64B), Germany ($681M), France ($547M), Netherlands ($524M), and United Kingdom ($472M).

Tariffs: In 2018 the average tariff for Cranes was 5.31%, been the 773 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 275th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $3.5B

Top Destination (2018): United States, $1.64B

Cranes are the world's 250th most traded product.

In 2018, the top exporters of Cranes were China ($3.5B), Germany ($1.86B), Italy ($1.44B), Japan ($1.03B), and Austria ($827M).

In 2018, the top importers of Cranes were United States ($1.64B), Germany ($681M), France ($547M), Netherlands ($524M), and United Kingdom ($472M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Italy, $348M

Top Destination Growth (2017 - 2018): United States, $356M

Between 2017 and 2018, the exports of Cranes grew the fastest in Italy ($348M), China ($259M), United Arab Emirates ($135M), Poland ($119M), and United States ($108M).

Between 2017 and 2018, the fastest growing importers of Cranes were United States ($356M), France ($165M), Germany ($161M), Australia ($132M), and Thailand ($112M).

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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 Cranes.

In 2018,  market concentration measured using Shannon Entropy, was 4.31. This means that most of the exports of Cranes are explained by 19 countries.

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TOP NET EXPORTER (2018): China, $3.26B

TOP NET IMPORTER (2018): United States, $1.05B

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 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Cranes were China ($3.26B), Italy ($1.18B), Germany ($1.18B), Japan ($918M), and Austria ($598M).

In 2018, the countries that had a largest trade value in imports than in exports of Cranes were United States ($1.05B), Indonesia ($448M), United Kingdom ($311M), United Arab Emirates ($247M), and Australia ($247M).

Trade Forecasts

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This section shows forecasts for total trade for Cranes. 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 Cranes was 5.31%.  The countries with the highest tariffs for importing Cranes were Bahamas (40.2%), Bermuda (35%), Maldives (28.3%), Iran (15%), and Cambodia (15%).

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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.