HS Icon Cranes

8426 (Harmonized System 1992 for 4-digit)

World Trade (2019): $14.3B, Rnk 246 / 1217

Top Exporter (2019): $3.18B, China

Top Importer (2019): $1.74B, United States

Product Complexity (2019): 0.64, Rnk 285 / 961

Export Growth (CAGR)(2018 - 2019): -3.4%, Rnk 654 / 1217

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

Share of World Trade (2019): 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.

Exporters and Importers

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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).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Japan, $122M

Top Destination Growth (2018 - 2019): Russia, $193M

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).

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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 2019,  market concentration measured using Shannon Entropy, was 4.34. This means that most of the exports of Cranes are explained by 20 countries.

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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).

Disaggregation

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Value

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)

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.