HS Icon Electric Motors

8501 (Harmonized System 1992 for 4-digit)

Overview:  This page contains the latest trade data of Electric Motors. In 2019, Electric Motors were the world's 55th most traded product, with a total trade of $57.1B. Between 2018 and 2019 the exports of Electric Motors decreased by -1.49%, from $58B to $57.1B. Trade in Electric Motors represent 0.32% of total world trade.

Exports: In 2019 the top exporters of Electric Motors  were China ($12.7B), Germany ($8.21B), United States ($4.19B), Mexico ($3.85B), and Japan ($3.22B).

Imports: In 2019 the top importers of Electric Motors were United States ($10.1B), Germany ($5.34B), China ($3.12B), Mexico ($2.65B), and France ($2.01B).

Tariffs: In 2018 the average tariff for Electric Motors was 6.5%, making it the 654th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Electric Motors are Bahamas (40.2%), Maldives (30.8%), Iran (28.5%), Bermuda (19.4%), and Finland (16.5%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Electric Motors ranks 243rd in the Product Complexity Index (PCI).

Description: Electric motors and generators are used to power many different kinds of machines. They can be made from a variety of materials, including copper, iron, steel, aluminum, and plastic.

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): China, $12.7B

Top Destination (2019): United States, $10.1B

Electric Motors are the world's 55th most traded product.

In 2019, the top exporters of Electric Motors were China ($12.7B), Germany ($8.21B), United States ($4.19B), Mexico ($3.85B), and Japan ($3.22B).

In 2019, the top importers of Electric Motors were United States ($10.1B), Germany ($5.34B), China ($3.12B), Mexico ($2.65B), and France ($2.01B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Hungary, $270M

Top Destination Growth (2018 - 2019): Belgium, $172M

Between 2018 and 2019, the exports of Electric Motors grew the fastest in Hungary ($270M), Vietnam ($129M), United States ($125M), Serbia ($104M), and Mexico ($83.3M).

Between 2018 and 2019, the fastest growing importers of Electric Motors were Belgium ($172M), Canada ($165M), United States ($130M), Chile ($125M), and Kazakhstan ($104M).

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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 Motors.

In 2019,  market concentration measured using Shannon Entropy, was 4.38. This means that most of the exports of Electric Motors are explained by 20 countries.

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TOP NET EXPORTER (2019): China, $9.53B

TOP NET IMPORTER (2019): United States, $5.9B

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

In 2019, the countries that had a largest trade value in exports than in imports of Electric Motors were China ($9.53B), Germany ($2.87B), Japan ($1.35B), Mexico ($1.2B), and Switzerland ($962M).

In 2019, the countries that had a largest trade value in imports than in exports of Electric Motors were United States ($5.9B), Canada ($1.14B), Hong Kong ($834M), United Kingdom ($641M), and Malaysia ($623M).

Disaggregation

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Value

In 2019, the world most traded Electric Motors, disaggragated by their HS6 level were Electric motors of an output <... ($13.5B), DC motors, DC generators, of an... ($11.7B), AC motors, multi-phase, of an output... ($7.75B), AC motors, single-phase, nes ($5.46B), and AC motors, multi-phase, of an output... ($4.63B)

Import Tariffs

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In 2018, the average tariff for importing Electric Motors was 6.5%. The countries with the highest tariffs for importing Electric Motors were Bahamas (40.2%), Maldives (30.8%), Iran (28.5%), Bermuda (19.4%), and Finland (16.5%).

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