HS Icon Large Construction Vehicles

8429 (Harmonized System 1992 for 4-digit)

World Trade (2018): $49.7B, Rnk 73 / 1225

Top Exporter (2018): $11.4B, Japan

Top Importer (2018): $7.27B, United States

Export Growth (CAGR)(2017 - 2018): 17.1%, Rnk 422 / 1225

Mean Tariff (2018): 4.7%, Rnk 877 / 1259

Share of World Trade (2018): 0.27%, Rnk 73 / 1225

Overview:  This page contains the latest trade data of Large Construction Vehicles. In 2018, Large Construction Vehicles were the world's 73rd most traded product, with a total trade of $49.7B. Between 2017 and 2018 the exports of Large Construction Vehicles grew by 17.1%, from  $42.5B to $49.7B. Trade in Large Construction Vehicles represent 0.27% of total world trade.

Exports: In 2018 the top exporters of Large Construction Vehicles  were Japan ($11.4B), United States ($5.25B), China ($5.16B), Germany ($3.97B), and South Korea ($3.95B).

Imports: In 2018 the top importers of Large Construction Vehicles were United States ($7.27B), Canada ($3.62B), Germany ($2.55B), Netherlands ($2.1B), and Australia ($1.94B).

Tariffs: In 2018 the average tariff for Large Construction Vehicles was 4.7%, been the 877 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Large Construction Vehicles are Maldives (50%), Bahamas (40.2%), Bermuda (35%), Cambodia (15%), and Iran (14.7%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Exporters and Importers

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Trade By Country

Top Origin (2018): Japan, $11.4B

Top Destination (2018): United States, $7.27B

Large Construction Vehicles are the world's 73rd most traded product.

In 2018, the top exporters of Large Construction Vehicles were Japan ($11.4B), United States ($5.25B), China ($5.16B), Germany ($3.97B), and South Korea ($3.95B).

In 2018, the top importers of Large Construction Vehicles were United States ($7.27B), Canada ($3.62B), Germany ($2.55B), Netherlands ($2.1B), and Australia ($1.94B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $1.11B

Top Destination Growth (2017 - 2018): United States, $1.31B

Between 2017 and 2018, the exports of Large Construction Vehicles grew the fastest in United States ($1.11B), Germany ($804M), China ($784M), Japan ($694M), and Netherlands ($652M).

Between 2017 and 2018, the fastest growing importers of Large Construction Vehicles were United States ($1.31B), Canada ($696M), Belgium-Luxembourg ($531M), Australia ($490M), and Indonesia ($485M).

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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 Large Construction Vehicles.

In 2018,  market concentration measured using Shannon Entropy, was 4.05. This means that most of the exports of Large Construction Vehicles are explained by 16 countries.

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TOP NET EXPORTER (2018): Japan, $11.2B

TOP NET IMPORTER (2018): Canada, $3.48B

This map shows which countries export or import more of Large Construction Vehicles. Each country is colored based on the difference in exports and imports of Large Construction Vehicles during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Large Construction Vehicles were Japan ($11.2B), China ($3.88B), South Korea ($3.75B), Brazil ($2.03B), and Germany ($1.42B).

In 2018, the countries that had a largest trade value in imports than in exports of Large Construction Vehicles were Canada ($3.48B), United States ($2.03B), Australia ($1.85B), Russia ($1.41B), and Indonesia ($1.12B).

Trade Forecasts

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This section shows forecasts for total trade for Large Construction Vehicles. 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 Large Construction Vehicles was 4.7%.  The countries with the highest tariffs for importing Large Construction Vehicles were Maldives (50%), Bahamas (40.2%), Bermuda (35%), Cambodia (15%), and Iran (14.7%).

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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.