HS Icon Forging Machines

8462 (Harmonized System 1992 for 4-digit)

Overview:  This page contains the latest trade data of Forging Machines. In 2019, Forging Machines were the world's 314th most traded product, with a total trade of $10.2B. Between 2018 and 2019 the exports of Forging Machines decreased by -4.18%, from $10.7B to $10.2B. Trade in Forging Machines represent 0.057% of total world trade.

Exports: In 2019 the top exporters of Forging Machines  were Germany ($1.5B), Italy ($1.32B), China ($1.23B), Japan ($1.09B), and South Korea ($604M).

Imports: In 2019 the top importers of Forging Machines were United States ($1.26B), China ($1.2B), Germany ($598M), Mexico ($561M), and India ($490M).

Tariffs: In 2018 the average tariff for Forging Machines was 4.8%, making it the 854th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Forging Machines are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Romania (15.3%), and Cambodia (15%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Forging Machines ranks 25th in the Product Complexity Index (PCI).

Description: Machine tools are used to make other goods. They can be made from a variety of materials, including steel, aluminum, and other metals.

Historical Data

#permalink to section

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2019): Germany, $1.5B

Top Destination (2019): United States, $1.26B

Forging Machines are the world's 314th most traded product.

In 2019, the top exporters of Forging Machines were Germany ($1.5B), Italy ($1.32B), China ($1.23B), Japan ($1.09B), and South Korea ($604M).

In 2019, the top importers of Forging Machines were United States ($1.26B), China ($1.2B), Germany ($598M), Mexico ($561M), and India ($490M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2018 -  2019): China, $95.6M

Top Destination Growth (2018 - 2019): Hungary, $63.5M

Between 2018 and 2019, the exports of Forging Machines grew the fastest in China ($95.6M), South Korea ($88.5M), Canada ($24M), Thailand ($22.7M), and Czechia ($19.1M).

Between 2018 and 2019, the fastest growing importers of Forging Machines were Hungary ($63.5M), Brazil ($29M), Indonesia ($28.2M), Egypt ($23.8M), and Slovenia ($23.1M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Forging Machines.

In 2019,  market concentration measured using Shannon Entropy, was 4.28. This means that most of the exports of Forging Machines are explained by 19 countries.

Explore Visualizations

TOP NET EXPORTER (2019): Italy, $1.05B

TOP NET IMPORTER (2019): United States, $665M

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

In 2019, the countries that had a largest trade value in exports than in imports of Forging Machines were Italy ($1.05B), Japan ($908M), Germany ($899M), South Korea ($426M), and Chinese Taipei ($346M).

In 2019, the countries that had a largest trade value in imports than in exports of Forging Machines were United States ($665M), Mexico ($526M), India ($444M), Vietnam ($283M), and Poland ($234M).

Disaggregation

#permalink to section
Value

In 2019, the world most traded Forging Machines, disaggragated by their HS6 level were Num controlled machine tools to bend,... ($2.4B), Machine tools to forge, stamp, hammer... ($1.74B), Metal shaping presses, nes ($1.52B), Machine tools to bend, fold, shear... ($1.22B), and Hydraulic presses for working metal ($1.15B)

Import Tariffs

#permalink to section

In 2018, the average tariff for importing Forging Machines was 4.8%. The countries with the highest tariffs for importing Forging Machines were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Romania (15.3%), and Cambodia (15%).

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
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

#permalink to section

The following visualization shows the relatedness of Forging Machines to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.