HS Icon Knitting Machine Accessories

8448 (Harmonized System 1992 for 4-digit)

 2019
World Trade
: $4.66B, Rnk 516 / 1217

2019
Top Exporter | Top Importer
: $947M | $814M, Germany | China

2019
Product Complexity
: 1.37, Rnk 66 / 961

2018 - 2019
Export Growth (CAGR)
: -16.1%, Rnk 1097 / 1217

2018
Mean Tariff
: 3.91%, Rnk 1017 / 1259

 2019
Share of World Trade
: 0.026%, Rnk 516 / 1217

Overview:  This page contains the latest trade data of Knitting Machine Accessories. In 2019, Knitting Machine Accessories were the world's 516th most traded product, with a total trade of $4.66B. Between 2018 and 2019 the exports of Knitting Machine Accessories decreased by -16.1%, from  $5.55B to $4.66B. Trade in Knitting Machine Accessories represent 0.026% of total world trade.

Exports: In 2019 the top exporters of Knitting Machine Accessories  were Germany ($947M), China ($681M), Switzerland ($365M), Italy ($339M), and France ($289M).

Imports: In 2019 the top importers of Knitting Machine Accessories were China ($814M), Germany ($386M), India ($377M), United States ($237M), and Vietnam ($207M).

Tariffs: In 2018 the average tariff for Knitting Machine Accessories was 3.91%, making it the 1017th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Knitting Machine Accessories are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Romania (12.9%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Knitting Machine Accessories ranks 66th in the Product Complexity Index (PCI).

Description: Dobbies are used to change the direction of a machine's shuttle. Jacquards are used to produce patterns on fabric. Automatic stop motions are used to control the speed of machines that use healds and shuttles. Shuttle changing mechanisms are used to change the direction of a machine's shuttle. Parts and accessories suitable for use solely or principally with the machines of this heading or of heading 8444, 8445, 8446 or 8447 include spindles and spindle flyers, card clothing, combs, extruding nipples, shuttles, healds and heald-frames, hosiery needles.

Exporters and Importers

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Trade By Country

Top Origin (2019): Germany, $947M

Top Destination (2019): China, $814M

Knitting Machine Accessories are the world's 516th most traded product.

In 2019, the top exporters of Knitting Machine Accessories were Germany ($947M), China ($681M), Switzerland ($365M), Italy ($339M), and France ($289M).

In 2019, the top importers of Knitting Machine Accessories were China ($814M), Germany ($386M), India ($377M), United States ($237M), and Vietnam ($207M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Singapore, $90.8M

Top Destination Growth (2018 - 2019): Vietnam, $14.2M

Between 2018 and 2019, the exports of Knitting Machine Accessories grew the fastest in Singapore ($90.8M), Malaysia ($5.41M), Vietnam ($4.32M), Latvia ($2.46M), and Saudi Arabia ($1.82M).

Between 2018 and 2019, the fastest growing importers of Knitting Machine Accessories were Vietnam ($14.2M), Malawi ($10.3M), Cote d'Ivoire ($7.87M), Uzbekistan ($5.66M), and Russia ($4.45M).

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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 Knitting Machine Accessories.

In 2019,  market concentration measured using Shannon Entropy, was 4.12. This means that most of the exports of Knitting Machine Accessories are explained by 17 countries.

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TOP NET EXPORTER (2019): Germany, $560M

TOP NET IMPORTER (2019): India, $207M

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

In 2019, the countries that had a largest trade value in exports than in imports of Knitting Machine Accessories were Germany ($560M), Switzerland ($267M), France ($229M), Czechia ($182M), and Italy ($154M).

In 2019, the countries that had a largest trade value in imports than in exports of Knitting Machine Accessories were India ($207M), Vietnam ($159M), Turkey ($133M), China ($133M), and Bangladesh ($107M).

Disaggregation

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Value

In 2019, the world most traded Knitting Machine Accessories, disaggragated by their HS6 level were Sinkers, needles etc for knitting, etc... ($812M), Parts etc of spinning, combing, drawing... ($798M), Parts & accessories of looms, auxiliary... ($781M), Parts, access nes, knitting, embroidery, lace... ($502M), and Parts/access, machines for preparing manmade textiles ($491M)

Import Tariffs

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In 2018, the average tariff for importing Knitting Machine Accessories was 3.91%.  The countries with the highest tariffs for importing Knitting Machine Accessories were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Romania (12.9%).

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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.