HS Icon Electric Motor Parts

8503 (Harmonized System 1992 for 4-digit)

Overview This page contains the latest trade data of Electric Motor Parts. In 2019, Electric Motor Parts were the world's 193rd most traded product, with a total trade of $19.1B. Between 2018 and 2019 the exports of Electric Motor Parts grew by 2.02%, from $18.7B to $19.1B. Trade in Electric Motor Parts represent 0.11% of total world trade.

Exports In 2019 the top exporters of Electric Motor Parts  were China ($4.93B), Germany ($1.7B), United States ($1.28B), Japan ($1.01B), and Italy ($952M).

Imports In 2019 the top importers of Electric Motor Parts were United States ($3.01B), Germany ($2.47B), Mexico ($966M), China ($931M), and France ($709M).

Tariffs In 2018 the average tariff for Electric Motor Parts was 4.98%, making it the 838th lowest tariff using the HS4 product classification.

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

Ranking Electric Motor Parts ranks 278th in the Product Complexity Index (PCI).

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): China, $4.93B

Top Destination (2019): United States, $3.01B

Electric Motor Parts are the world's 193rd most traded product.

In 2019, the top exporters of Electric Motor Parts were China ($4.93B), Germany ($1.7B), United States ($1.28B), Japan ($1.01B), and Italy ($952M).

In 2019, the top importers of Electric Motor Parts were United States ($3.01B), Germany ($2.47B), Mexico ($966M), China ($931M), and France ($709M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): China, $598M

Top Destination Growth (2018 - 2019): United States, $312M

Between 2018 and 2019, the exports of Electric Motor Parts grew the fastest in China ($598M), Brazil ($224M), India ($141M), Turkey ($108M), and Netherlands ($105M).

Between 2018 and 2019, the fastest growing importers of Electric Motor Parts were United States ($312M), Germany ($130M), Vietnam ($110M), India ($98.2M), and Kenya ($82.6M).

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Market Concentration

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Cumulative market share

Value

This chart shows the evolution of the market concentration of exports of Electric Motor Parts.

In 2019,  market concentration measured using Shannon Entropy, was 4.47. This means that most of the exports of Electric Motor Parts are explained by 22 countries.

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TOP NET EXPORTER (2019): China, $4B

TOP NET IMPORTER (2019): United States, $1.72B

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 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Electric Motor Parts were China ($4B), Japan ($453M), Italy ($375M), Brazil ($253M), and Slovenia ($245M).

In 2019, the countries that had a largest trade value in imports than in exports of Electric Motor Parts were United States ($1.72B), Germany ($772M), Argentina ($392M), Vietnam ($358M), and Mexico ($328M).

Disaggregation

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Value

In 2019, the world most traded Electric Motor Parts, disaggragated by their HS6 level were Parts for electric motors and generators ($19.1B)

Import Tariffs

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In 2018, the average tariff for importing Electric Motor Parts was 4.98%. The countries with the highest tariffs for importing Electric Motor Parts were Bahamas (40.2%), Maldives (35%), and Bermuda (25%).

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 Motor Parts to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.