HS Icon Machinery for treatment by temperature change nes

841989 (Harmonized System 1992 for 6-digit)

World Trade (2019): $8.6B, Rnk 363 / 4648

Top Exporter (2019): $1.94B, Germany

Top Importer (2019): $1.07B, United States

Product Complexity (2019): 1.3, Rnk 378 / 4826

Export Growth (CAGR)(2018 - 2019): -2%, Rnk 1994 / 4648

Mean Tariff (2018): 5.33%, Rnk 3938 / 6538

Share of World Trade (2019): 0.047%, Rnk 363 / 4648

Overview:  This page contains the latest trade data of Machinery for treatment by temperature change nes. In 2019, Machinery for treatment by temperature change nes were the world's 363rd most traded product, with a total trade of $8.6B. Between 2018 and 2019 the exports of Machinery for treatment by temperature change nes decreased by -2%, from  $8.77B to $8.6B. Trade in Machinery for treatment by temperature change nes represent 0.047% of total world trade.

Exports: In 2019 the top exporters of Machinery for treatment by temperature change nes  were Germany ($1.94B), China ($1.03B), South Korea ($744M), United States ($725M), and Italy ($619M).

Imports: In 2019 the top importers of Machinery for treatment by temperature change nes were United States ($1.07B), China ($960M), Russia ($644M), Germany ($405M), and South Korea ($308M).

Tariffs: In 2018 the average tariff for Machinery for treatment by temperature change nes was 5.33%, making it the 3938th lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Machinery for treatment by temperature change nes are Bahamas (40.2%), Algeria (26.6%), Bermuda (25%), Iran (21%), and Pakistan (19.9%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Machinery for treatment by temperature change nes ranks 378th in the Product Complexity Index (PCI).

Description: This category includes any other machinery not eslewhere specified in this category for the treatment of materials by a process involving a change of temperature such as heating, cooking, roasting, distilling, rectifying, sterilising, pasteurising, steaming, drying, evaporating, vaporising, condensing or cooling, other than machinery or plant of a kind used for domestic purposes; instantaneous or storage water heaters, non-electric.

Exporters and Importers

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Trade By Country

Top Origin (2019): Germany, $1.94B

Top Destination (2019): United States, $1.07B

Machinery for treatment by temperature change nes are the world's 363rd most traded product.

In 2019, the top exporters of Machinery for treatment by temperature change nes were Germany ($1.94B), China ($1.03B), South Korea ($744M), United States ($725M), and Italy ($619M).

In 2019, the top importers of Machinery for treatment by temperature change nes were United States ($1.07B), China ($960M), Russia ($644M), Germany ($405M), and South Korea ($308M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): South Korea, $243M

Top Destination Growth (2018 - 2019): Kazakhstan, $114M

Between 2018 and 2019, the exports of Machinery for treatment by temperature change nes grew the fastest in South Korea ($243M), China ($20.4M), Indonesia ($16.9M), South Africa ($11.3M), and Malaysia ($10.9M).

Between 2018 and 2019, the fastest growing importers of Machinery for treatment by temperature change nes were Kazakhstan ($114M), China ($89.4M), Thailand ($50.6M), Nigeria ($45.7M), and United States ($43.7M).

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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 Machinery for treatment by temperature change nes.

In 2019,  market concentration measured using Shannon Entropy, was 4.24. This means that most of the exports of Machinery for treatment by temperature change nes are explained by 18 countries.

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TOP NET EXPORTER (2019): Germany, $1.53B

TOP NET IMPORTER (2019): Russia, $590M

This map shows which countries export or import more of Machinery for treatment by temperature change nes. Each country is colored based on the difference in exports and imports of Machinery for treatment by temperature change nes during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Machinery for treatment by temperature change nes were Germany ($1.53B), Italy ($505M), South Korea ($436M), Japan ($260M), and Switzerland ($193M).

In 2019, the countries that had a largest trade value in imports than in exports of Machinery for treatment by temperature change nes were Russia ($590M), United States ($346M), Vietnam ($163M), Kazakhstan ($158M), and Nigeria ($126M).

Import Tariffs

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In 2018, the average tariff for importing Machinery for treatment by temperature change nes was 5.33%.  The countries with the highest tariffs for importing Machinery for treatment by temperature change nes were Bahamas (40.2%), Algeria (26.6%), Bermuda (25%), Iran (21%), and Pakistan (19.9%).

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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.