HS Icon Industrial machine parts, food, drink preparation

843890 (Harmonized System 1992 for 6-digit)

 2019
World Trade
: $3.56B, Rnk 859 / 4648

2019
Top Exporter | Top Importer
: $716M | $412M, Netherlands | United States

2019
Product Complexity
: 0.34, Rnk 1993 / 4826

2018 - 2019
Export Growth (CAGR)
: -0.11%, Rnk 1554 / 4648

2018
Mean Tariff
: 4.33%, Rnk 4680 / 6538

 2019
Share of World Trade
: 0.02%, Rnk 859 / 4648

Overview:  This page contains the latest trade data of Industrial machine parts, food, drink preparation. In 2019, Industrial machine parts, food, drink preparation were the world's 859th most traded product, with a total trade of $3.56B. Between 2018 and 2019 the exports of Industrial machine parts, food, drink preparation decreased by -0.11%, from  $3.56B to $3.56B. Trade in Industrial machine parts, food, drink preparation represent 0.02% of total world trade.

Exports: In 2019 the top exporters of Industrial machine parts, food, drink preparation  were Netherlands ($716M), Germany ($463M), Italy ($396M), United States ($333M), and Denmark ($225M).

Imports: In 2019 the top importers of Industrial machine parts, food, drink preparation were United States ($412M), Germany ($231M), France ($168M), Netherlands ($168M), and United Kingdom ($157M).

Tariffs: In 2018 the average tariff for Industrial machine parts, food, drink preparation was 4.33%, making it the 4680th lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Industrial machine parts, food, drink preparation are Bahamas (41.8%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Brazil (13.4%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mozambique (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Industrial machine parts, food, drink preparation ranks 1993rd in the Product Complexity Index (PCI).

Description: Industrial machine parts are used to make other items such as cars, airplanes, buildings, etc. Food and drink preparation includes preparing food and drink for those to consume.

Exporters and Importers

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Trade By Country

Top Origin (2019): Netherlands, $716M

Top Destination (2019): United States, $412M

Industrial machine parts, food, drink preparation are the world's 859th most traded product.

In 2019, the top exporters of Industrial machine parts, food, drink preparation were Netherlands ($716M), Germany ($463M), Italy ($396M), United States ($333M), and Denmark ($225M).

In 2019, the top importers of Industrial machine parts, food, drink preparation were United States ($412M), Germany ($231M), France ($168M), Netherlands ($168M), and United Kingdom ($157M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Italy, $26.8M

Top Destination Growth (2018 - 2019): Poland, $33.2M

Between 2018 and 2019, the exports of Industrial machine parts, food, drink preparation grew the fastest in Italy ($26.8M), Iceland ($26.3M), United States ($18.3M), India ($14.2M), and France ($5.85M).

Between 2018 and 2019, the fastest growing importers of Industrial machine parts, food, drink preparation were Poland ($33.2M), Belgium ($19.6M), Ireland ($15.6M), Canada ($13.2M), and Ukraine ($11.7M).

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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 Industrial machine parts, food, drink preparation.

In 2019,  market concentration measured using Shannon Entropy, was 4.24. This means that most of the exports of Industrial machine parts, food, drink preparation are explained by 18 countries.

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TOP NET EXPORTER (2019): Netherlands, $549M

TOP NET IMPORTER (2019): Russia, $100M

This map shows which countries export or import more of Industrial machine parts, food, drink preparation. Each country is colored based on the difference in exports and imports of Industrial machine parts, food, drink preparation during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Industrial machine parts, food, drink preparation were Netherlands ($549M), Italy ($313M), Germany ($232M), Denmark ($143M), and China ($89.9M).

In 2019, the countries that had a largest trade value in imports than in exports of Industrial machine parts, food, drink preparation were Russia ($100M), Canada ($85.9M), Poland ($85.2M), United States ($79.5M), and United Kingdom ($71.6M).

Import Tariffs

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In 2018, the average tariff for importing Industrial machine parts, food, drink preparation was 4.33%.  The countries with the highest tariffs for importing Industrial machine parts, food, drink preparation were Bahamas (41.8%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Brazil (13.4%).

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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.