HS Icon Equipment to measure or check pressure

902620 (Harmonized System 1992 for 6-digit)

World Trade (2018): $9.66B, Rnk 321 / 4726

Top Exporter (2018): $2.43B, Germany

Top Importer (2018): $1.68B, United States

Product Complexity (2018): 0.95, Rnk 864 / 4873

Export Growth (CAGR)(2017 - 2018): 10.6%, Rnk 2569 / 4726

Mean Tariff (2018): 4.23%, Rnk 4772 / 6538

Share of World Trade (2018): 0.053%, Rnk 321 / 4726

Overview:  This page contains the latest trade data of Equipment to measure or check pressure. In 2018, Equipment to measure or check pressure were the world's 321st most traded product, with a total trade of $9.66B. Between 2017 and 2018 the exports of Equipment to measure or check pressure grew by 10.6%, from  $8.74B to $9.66B. Trade in Equipment to measure or check pressure represent 0.053% of total world trade.

Exports: In 2018 the top exporters of Equipment to measure or check pressure  were Germany ($2.43B), United States ($1.55B), China ($982M), Mexico ($749M), and United Kingdom ($544M).

Imports: In 2018 the top importers of Equipment to measure or check pressure were United States ($1.68B), Germany ($1.09B), China ($799M), South Korea ($383M), and France ($375M).

Tariffs: In 2018 the average tariff for Equipment to measure or check pressure was 4.23%, been the 4772 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Equipment to measure or check pressure are Bahamas (40.2%), Ethiopia (29.7%), Iran (25%), Bermuda (25%), and Maldives (19.6%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Equipment to measure or check pressure ranks 864th in the Product Complexity Index (PCI).

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2018): Germany, $2.43B

Top Destination (2018): United States, $1.68B

Equipment to measure or check pressure are the world's 321st most traded product.

In 2018, the top exporters of Equipment to measure or check pressure were Germany ($2.43B), United States ($1.55B), China ($982M), Mexico ($749M), and United Kingdom ($544M).

In 2018, the top importers of Equipment to measure or check pressure were United States ($1.68B), Germany ($1.09B), China ($799M), South Korea ($383M), and France ($375M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $652M

Top Destination Growth (2017 - 2018): Japan, $121M

Between 2017 and 2018, the exports of Equipment to measure or check pressure grew the fastest in Germany ($652M), United States ($238M), France ($82M), United Kingdom ($54.1M), and China ($42.2M).

Between 2017 and 2018, the fastest growing importers of Equipment to measure or check pressure were Japan ($121M), France ($72.4M), India ($65.8M), Italy ($65.2M), and Hong Kong ($64.4M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Equipment to measure or check pressure.

In 2018,  market concentration measured using Shannon Entropy, was 3.91. This means that most of the exports of Equipment to measure or check pressure are explained by 15 countries.

Explore Visualizations

TOP NET EXPORTER (2018): Germany, $1.34B

TOP NET IMPORTER (2018): South Korea, $304M

This map shows which countries export or import more of Equipment to measure or check pressure. Each country is colored based on the difference in exports and imports of Equipment to measure or check pressure during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Equipment to measure or check pressure were Germany ($1.34B), Mexico ($375M), Switzerland ($288M), United Kingdom ($214M), and China ($183M).

In 2018, the countries that had a largest trade value in imports than in exports of Equipment to measure or check pressure were South Korea ($304M), Canada ($195M), United States ($132M), Italy ($132M), and Hungary ($122M).

Trade Forecasts

#permalink to section

This section shows forecasts for total trade for Equipment to measure or check pressure. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

Explore Forecasts

Import Tariffs

#permalink to section

In 2018, the average tariff for importing Equipment to measure or check pressure was 4.23%.  The countries with the highest tariffs for importing Equipment to measure or check pressure were Bahamas (40.2%), Ethiopia (29.7%), Iran (25%), Bermuda (25%), and Maldives (19.6%).

Explore Tariff Data

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
Filter

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.