HS Icon Electric Motor Parts

8503 (Harmonized System 1992 for 4-digit)

World Trade (2018): $18.6B, Rnk 199 / 1225

Top Exporter (2018): $4.34B, China

Top Importer (2018): $2.69B, United States

Export Growth (CAGR)(2017 - 2018): 39.8%, Rnk 102 / 1225

Mean Tariff (2018): 5.16%, Rnk 799 / 1259

Share of World Trade (2018): 0.1%, Rnk 199 / 1225

Overview:  This page contains the latest trade data of Electric Motor Parts. In 2018, Electric Motor Parts were the world's 199th most traded product, with a total trade of $18.6B. Between 2017 and 2018 the exports of Electric Motor Parts grew by 39.8%, from  $13.3B to $18.6B. Trade in Electric Motor Parts represent 0.1% of total world trade.

Exports: In 2018 the top exporters of Electric Motor Parts  were China ($4.34B), Germany ($1.67B), United States ($1.16B), Italy ($1.04B), and Japan ($1.03B).

Imports: In 2018 the top importers of Electric Motor Parts were United States ($2.69B), Germany ($2.34B), Mexico ($1.1B), China ($933M), and France ($765M).

Tariffs: In 2018 the average tariff for Electric Motor Parts was 5.16%, been the 799 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Electric Motor Parts are Bahamas (40.2%), Maldives (35%), Bermuda (25%), Zimbabwe (20.5%), and Finland (15%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $4.34B

Top Destination (2018): United States, $2.69B

Electric Motor Parts are the world's 199th most traded product.

In 2018, the top exporters of Electric Motor Parts were China ($4.34B), Germany ($1.67B), United States ($1.16B), Italy ($1.04B), and Japan ($1.03B).

In 2018, the top importers of Electric Motor Parts were United States ($2.69B), Germany ($2.34B), Mexico ($1.1B), China ($933M), and France ($765M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $1.58B

Top Destination Growth (2017 - 2018): United States, $2.69B

Between 2017 and 2018, the exports of Electric Motor Parts grew the fastest in China ($1.58B), United States ($611M), Denmark ($595M), Mexico ($587M), and India ($267M).

Between 2017 and 2018, the fastest growing importers of Electric Motor Parts were United States ($2.69B), Mexico ($1.1B), Germany ($313M), Denmark ($255M), and Indonesia ($191M).

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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 Motor Parts.

In 2018,  market concentration measured using Shannon Entropy, was 4.55. This means that most of the exports of Electric Motor Parts are explained by 23 countries.

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TOP NET EXPORTER (2018): China, $3.41B

TOP NET IMPORTER (2018): United States, $1.53B

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

In 2018, the countries that had a largest trade value in exports than in imports of Electric Motor Parts were China ($3.41B), Japan ($508M), Finland ($402M), Italy ($395M), and Spain ($315M).

In 2018, the countries that had a largest trade value in imports than in exports of Electric Motor Parts were United States ($1.53B), Germany ($668M), Mexico ($504M), Argentina ($340M), and Indonesia ($334M).

Trade Forecasts

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This section shows forecasts for total trade for Electric Motor Parts. 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 Electric Motor Parts was 5.16%.  The countries with the highest tariffs for importing Electric Motor Parts were Bahamas (40.2%), Maldives (35%), Bermuda (25%), Zimbabwe (20.5%), and Finland (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.