HS Icon Instruments, appliances for medical, etc science, nes

901890 (Harmonized System 1992 for 6-digit)

World Trade (2018): $48.4B, Rnk 44 / 4726

Top Exporter (2018): $8.85B, United States

Top Importer (2018): $10.9B, United States

Product Complexity (2018): 0.39, Rnk 1901 / 4873

Export Growth (CAGR)(2017 - 2018): 30.4%, Rnk 795 / 4726

Mean Tariff (2018): 2.78%, Rnk 5842 / 6538

Share of World Trade (2018): 0.26%, Rnk 44 / 4726

Overview:  This page contains the latest trade data of Instruments, appliances for medical, etc science, nes. In 2018, Instruments, appliances for medical, etc science, nes were the world's 44th most traded product, with a total trade of $48.4B. Between 2017 and 2018 the exports of Instruments, appliances for medical, etc science, nes grew by 30.4%, from  $37.1B to $48.4B. Trade in Instruments, appliances for medical, etc science, nes represent 0.26% of total world trade.

Exports: In 2018 the top exporters of Instruments, appliances for medical, etc science, nes  were United States ($8.85B), Germany ($6.89B), Mexico ($4.41B), Netherlands ($3.58B), and Belgium-Luxembourg ($2.55B).

Imports: In 2018 the top importers of Instruments, appliances for medical, etc science, nes were United States ($10.9B), Germany ($4.28B), Netherlands ($3.61B), China ($2.65B), and Japan ($2.59B).

Tariffs: In 2018 the average tariff for Instruments, appliances for medical, etc science, nes was 2.78%, been the 5842 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Instruments, appliances for medical, etc science, nes are Rwanda (23.5%), Bermuda (12.5%), Aruba (12%), Jamaica (10%), and Venezuela (9.83%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Madagascar (0%), Mauritius (0%), and Tanzania (0%).

Ranking: Instruments, appliances for medical, etc science, nes ranks 1901st in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $8.85B

Top Destination (2018): United States, $10.9B

Instruments, appliances for medical, etc science, nes are the world's 44th most traded product.

In 2018, the top exporters of Instruments, appliances for medical, etc science, nes were United States ($8.85B), Germany ($6.89B), Mexico ($4.41B), Netherlands ($3.58B), and Belgium-Luxembourg ($2.55B).

In 2018, the top importers of Instruments, appliances for medical, etc science, nes were United States ($10.9B), Germany ($4.28B), Netherlands ($3.61B), China ($2.65B), and Japan ($2.59B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Mexico, $3.32B

Top Destination Growth (2017 - 2018): United States, $6.42B

Between 2017 and 2018, the exports of Instruments, appliances for medical, etc science, nes grew the fastest in Mexico ($3.32B), Netherlands ($1.65B), United States ($1.57B), Costa Rica ($573M), and Finland ($513M).

Between 2017 and 2018, the fastest growing importers of Instruments, appliances for medical, etc science, nes were United States ($6.42B), Netherlands ($657M), Japan ($443M), China ($382M), and Germany ($369M).

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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 Instruments, appliances for medical, etc science, nes.

In 2018,  market concentration measured using Shannon Entropy, was 4.38. This means that most of the exports of Instruments, appliances for medical, etc science, nes are explained by 20 countries.

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TOP NET EXPORTER (2018): Mexico, $4.21B

TOP NET IMPORTER (2018): United States, $2.06B

This map shows which countries export or import more of Instruments, appliances for medical, etc science, nes. Each country is colored based on the difference in exports and imports of Instruments, appliances for medical, etc science, nes during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Instruments, appliances for medical, etc science, nes were Mexico ($4.21B), Germany ($2.61B), Ireland ($1.59B), Switzerland ($908M), and Costa Rica ($832M).

In 2018, the countries that had a largest trade value in imports than in exports of Instruments, appliances for medical, etc science, nes were United States ($2.06B), Spain ($893M), Japan ($886M), United Kingdom ($762M), and Russia ($668M).

Trade Forecasts

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This section shows forecasts for total trade for Instruments, appliances for medical, etc science, nes. 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 Instruments, appliances for medical, etc science, nes was 2.78%.  The countries with the highest tariffs for importing Instruments, appliances for medical, etc science, nes were Rwanda (23.5%), Bermuda (12.5%), Aruba (12%), Jamaica (10%), and Venezuela (9.83%).

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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.