HS Icon Electric Generating Sets

8502 (Harmonized System 1992 for 4-digit)

Overview:  This page contains the latest trade data of Electric Generating Sets. In 2019, Electric Generating Sets were the world's 166th most traded product, with a total trade of $23.3B. Between 2018 and 2019 the exports of Electric Generating Sets grew by 3.36%, from $22.5B to $23.3B. Trade in Electric Generating Sets represent 0.13% of total world trade.

Exports: In 2019 the top exporters of Electric Generating Sets  were China ($4.71B), Germany ($3.47B), Denmark ($3.03B), United States ($1.94B), and Spain ($1.05B).

Imports: In 2019 the top importers of Electric Generating Sets were United States ($1.61B), Germany ($1.4B), Canada ($919M), Netherlands ($733M), and Russia ($708M).

Tariffs: In 2018 the average tariff for Electric Generating Sets was 5.49%, making it the 752nd lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Electric Generating Sets are Bermuda (26.3%), Maldives (19.6%), Iran (17.2%), Finland (15%), and Brazil (12.5%). The countries with the lowest tariffs are Kenya (0%), Mauritius (0%), Rwanda (0%), Tanzania (0%), and Uganda (0%).

Ranking: Electric Generating Sets ranks 460th in the Product Complexity Index (PCI).

Description: Electric generating sets are used to produce electricity. They are usually powered by a combustion engine, but can also be powered by other sources of energy. Rotary converters are used to convert one form of energy into another.

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): China, $4.71B

Top Destination (2019): United States, $1.61B

Electric Generating Sets are the world's 166th most traded product.

In 2019, the top exporters of Electric Generating Sets were China ($4.71B), Germany ($3.47B), Denmark ($3.03B), United States ($1.94B), and Spain ($1.05B).

In 2019, the top importers of Electric Generating Sets were United States ($1.61B), Germany ($1.4B), Canada ($919M), Netherlands ($733M), and Russia ($708M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Denmark, $954M

Top Destination Growth (2018 - 2019): Belgium, $374M

Between 2018 and 2019, the exports of Electric Generating Sets grew the fastest in Denmark ($954M), Netherlands ($479M), United States ($270M), Turkey ($226M), and Hong Kong ($190M).

Between 2018 and 2019, the fastest growing importers of Electric Generating Sets were Belgium ($374M), Netherlands ($338M), Brazil ($271M), South Africa ($255M), and Germany ($208M).

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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 Electric Generating Sets.

In 2019,  market concentration measured using Shannon Entropy, was 4.16. This means that most of the exports of Electric Generating Sets are explained by 17 countries.

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TOP NET EXPORTER (2019): China, $4.14B

TOP NET IMPORTER (2019): Canada, $842M

This map shows which countries export or import more of Electric Generating Sets. Each country is colored based on the difference in exports and imports of Electric Generating Sets during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Electric Generating Sets were China ($4.14B), Denmark ($2.81B), Germany ($2.07B), Spain ($652M), and Italy ($452M).

In 2019, the countries that had a largest trade value in imports than in exports of Electric Generating Sets were Canada ($842M), Australia ($662M), Russia ($616M), Indonesia ($538M), and Mexico ($527M).

Disaggregation

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Value

In 2019, the world most traded Electric Generating Sets, disaggragated by their HS6 level were Electric generating sets, nes ($11.1B), Generating sets, diesel, output > 375... ($4.75B), Generating sets, with spark ignition engines ($3.88B), Generating sets, diesel, output < 75... ($1.85B), and Generating sets, diesel, output 75-375 kVA ($1.53B)

Import Tariffs

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In 2018, the average tariff for importing Electric Generating Sets was 5.49%. The countries with the highest tariffs for importing Electric Generating Sets were Bermuda (26.3%), Maldives (19.6%), Iran (17.2%), Finland (15%), and Brazil (12.5%).

Product Complexity

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Diversification Frontier

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Specialization

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.

Country by Relatedness

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The following visualization shows the relatedness of Electric Generating Sets to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.