HS Icon Electrical relays for < 60 volts

853641 (Harmonized System 1992 for 6-digit)

World Trade (2018): $4.97B, Rnk 632 / 4726

Top Exporter (2018): $990M, China

Top Importer (2018): $558M, United States

Product Complexity (2018): 0.27, Rnk 2117 / 4873

Export Growth (CAGR)(2017 - 2018): 6.12%, Rnk 3196 / 4726

Mean Tariff (2018): 7.38%, Rnk 3054 / 6538

Share of World Trade (2018): 0.027%, Rnk 632 / 4726

Overview:  This page contains the latest trade data of Electrical relays for < 60 volts. In 2018, Electrical relays for < 60 volts were the world's 632nd most traded product, with a total trade of $4.97B. Between 2017 and 2018 the exports of Electrical relays for < 60 volts grew by 6.12%, from  $4.68B to $4.97B. Trade in Electrical relays for < 60 volts represent 0.027% of total world trade.

Exports: In 2018 the top exporters of Electrical relays for < 60 volts  were China ($990M), Japan ($704M), Germany ($518M), United States ($446M), and France ($213M).

Imports: In 2018 the top importers of Electrical relays for < 60 volts were United States ($558M), Germany ($514M), China ($511M), Hong Kong ($416M), and Mexico ($360M).

Tariffs: In 2018 the average tariff for Electrical relays for < 60 volts was 7.38%, been the 3054 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Electrical relays for < 60 volts are Bahamas (40.2%), Maldives (34.2%), Algeria (26.6%), Bermuda (25%), and Iran (24.7%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Indonesia (0%), and Japan (0%).

Ranking: Electrical relays for < 60 volts ranks 2117th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $990M

Top Destination (2018): United States, $558M

Electrical relays for < 60 volts are the world's 632nd most traded product.

In 2018, the top exporters of Electrical relays for < 60 volts were China ($990M), Japan ($704M), Germany ($518M), United States ($446M), and France ($213M).

In 2018, the top importers of Electrical relays for < 60 volts were United States ($558M), Germany ($514M), China ($511M), Hong Kong ($416M), and Mexico ($360M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $187M

Top Destination Growth (2017 - 2018): Chinese Taipei, $142M

Between 2017 and 2018, the exports of Electrical relays for < 60 volts grew the fastest in United States ($187M), Singapore ($164M), Chinese Taipei ($124M), Spain ($40.5M), and Portugal ($34.6M).

Between 2017 and 2018, the fastest growing importers of Electrical relays for < 60 volts were Chinese Taipei ($142M), France ($39M), Netherlands ($34.8M), Germany ($29.3M), and Spain ($22.2M).

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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 Electrical relays for < 60 volts.

In 2018,  market concentration measured using Shannon Entropy, was 4.21. This means that most of the exports of Electrical relays for < 60 volts are explained by 18 countries.

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TOP NET EXPORTER (2018): Japan, $532M

TOP NET IMPORTER (2018): Hong Kong, $395M

This map shows which countries export or import more of Electrical relays for < 60 volts. Each country is colored based on the difference in exports and imports of Electrical relays for < 60 volts during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Electrical relays for < 60 volts were Japan ($532M), China ($478M), Portugal ($193M), Philippines ($125M), and Singapore ($104M).

In 2018, the countries that had a largest trade value in imports than in exports of Electrical relays for < 60 volts were Hong Kong ($395M), Mexico ($271M), United States ($112M), Canada ($64.6M), and South Korea ($57.3M).

Trade Forecasts

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This section shows forecasts for total trade for Electrical relays for < 60 volts. 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 Electrical relays for < 60 volts was 7.38%.  The countries with the highest tariffs for importing Electrical relays for < 60 volts were Bahamas (40.2%), Maldives (34.2%), Algeria (26.6%), Bermuda (25%), and Iran (24.7%).

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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.