HS Icon Electrical Transformers

8504 (Harmonized System 1992 for 4-digit)

Overview:  This page contains the latest trade data of Electrical Transformers. In 2019, Electrical Transformers were the world's 26th most traded product, with a total trade of $94.3B. Between 2018 and 2019 the exports of Electrical Transformers grew by 0.65%, from $93.7B to $94.3B. Trade in Electrical Transformers represent 0.52% of total world trade.

Exports: In 2019 the top exporters of Electrical Transformers  were China ($30.8B), Germany ($9.06B), United States ($5.45B), Japan ($4.32B), and Mexico ($3.28B).

Imports: In 2019 the top importers of Electrical Transformers were United States ($14.7B), Hong Kong ($7.58B), Germany ($6.97B), China ($5.14B), and Mexico ($3.42B).

Tariffs: In 2018 the average tariff for Electrical Transformers was 6.67%, making it the 641st lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Electrical Transformers are Bahamas (36.8%), Iran (27%), Bermuda (22.9%), Maldives (20.6%), and Cambodia (16.1%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Electrical Transformers ranks 262nd in the Product Complexity Index (PCI).

Description: Electrical transformers are used to convert electricity from one form to another. They can be made of a variety of materials, including iron, copper, and aluminum.

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): China, $30.8B

Top Destination (2019): United States, $14.7B

Electrical Transformers are the world's 26th most traded product.

In 2019, the top exporters of Electrical Transformers were China ($30.8B), Germany ($9.06B), United States ($5.45B), Japan ($4.32B), and Mexico ($3.28B).

In 2019, the top importers of Electrical Transformers were United States ($14.7B), Hong Kong ($7.58B), Germany ($6.97B), China ($5.14B), and Mexico ($3.42B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): China, $639M

Top Destination Growth (2018 - 2019): Vietnam, $459M

Between 2018 and 2019, the exports of Electrical Transformers grew the fastest in China ($639M), India ($416M), Mexico ($272M), Vietnam ($268M), and Hungary ($163M).

Between 2018 and 2019, the fastest growing importers of Electrical Transformers were Vietnam ($459M), Pakistan ($387M), Poland ($195M), Belgium ($169M), and Hungary ($146M).

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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 Transformers.

In 2019,  market concentration measured using Shannon Entropy, was 4.26. This means that most of the exports of Electrical Transformers are explained by 19 countries.

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TOP NET EXPORTER (2019): China, $25.7B

TOP NET IMPORTER (2019): United States, $9.22B

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

In 2019, the countries that had a largest trade value in exports than in imports of Electrical Transformers were China ($25.7B), Germany ($2.1B), Philippines ($1.65B), Japan ($1.31B), and Thailand ($819M).

In 2019, the countries that had a largest trade value in imports than in exports of Electrical Transformers were United States ($9.22B), Hong Kong ($6.46B), United Kingdom ($1.12B), France ($1.08B), and Canada ($1.07B).

Disaggregation

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Value

In 2019, the world most traded Electrical Transformers, disaggragated by their HS6 level were Static converters, nes ($57.7B), Inductors, electric ($10B), Parts of electrical transformers and inductors ($9.81B), Transformers electric, power capacity < 1... ($4.6B), and Liquid dielectric transformers > 10,000 KVA ($4.37B)

Import Tariffs

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In 2018, the average tariff for importing Electrical Transformers was 6.67%. The countries with the highest tariffs for importing Electrical Transformers were Bahamas (36.8%), Iran (27%), Bermuda (22.9%), Maldives (20.6%), and Cambodia (16.1%).

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