HS Icon Machinery Having Individual Functions

8479 (Harmonized System 1992 for 4-digit)

Overview This page contains the latest trade data of Machinery Having Individual Functions. In 2019, Machinery Having Individual Functions were the world's 20th most traded product, with a total trade of $125B. Between 2018 and 2019 the exports of Machinery Having Individual Functions decreased by -5.01%, from $132B to $125B. Trade in Machinery Having Individual Functions represent 0.69% of total world trade.

Exports In 2019 the top exporters of Machinery Having Individual Functions  were Japan ($20B), Germany ($19.5B), United States ($13.3B), South Korea ($12.1B), and China ($11.4B).

Imports In 2019 the top importers of Machinery Having Individual Functions were China ($23.9B), United States ($14.3B), Chinese Taipei ($6.65B), Germany ($6.22B), and South Korea ($5.93B).

Tariffs In 2018 the average tariff for Machinery Having Individual Functions was 3.88%, making it the 1024th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Machinery Having Individual Functions are Bahamas (40.2%), Bermuda (20%), Maldives (19.6%), Cambodia (14.3%), and Iran (13.3%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking Machinery Having Individual Functions ranks 6th in the Product Complexity Index (PCI).

Description Machines and mechanical appliances having individual functions are used in the production of other goods. They can be made from a variety of materials, including steel, aluminum, plastic, and wood.

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): Japan, $20B

Top Destination (2019): China, $23.9B

Machinery Having Individual Functions are the world's 20th most traded product.

In 2019, the top exporters of Machinery Having Individual Functions were Japan ($20B), Germany ($19.5B), United States ($13.3B), South Korea ($12.1B), and China ($11.4B).

In 2019, the top importers of Machinery Having Individual Functions were China ($23.9B), United States ($14.3B), Chinese Taipei ($6.65B), Germany ($6.22B), and South Korea ($5.93B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): United Arab Emirates, $587M

Top Destination Growth (2018 - 2019): Oman, $456M

Between 2018 and 2019, the exports of Machinery Having Individual Functions grew the fastest in United Arab Emirates ($587M), China ($398M), India ($141M), Turkey ($79.8M), and Denmark ($70.4M).

Between 2018 and 2019, the fastest growing importers of Machinery Having Individual Functions were Oman ($456M), Chinese Taipei ($398M), Poland ($356M), Vietnam ($346M), and Thailand ($203M).

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Market Concentration

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Cumulative market share

Value

This chart shows the evolution of the market concentration of exports of Machinery Having Individual Functions.

In 2019,  market concentration measured using Shannon Entropy, was 4.19. This means that most of the exports of Machinery Having Individual Functions are explained by 18 countries.

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TOP NET EXPORTER (2019): Japan, $15.8B

TOP NET IMPORTER (2019): China, $12.5B

This map shows which countries export or import more of Machinery Having Individual Functions. Each country is colored based on the difference in exports and imports of Machinery Having Individual Functions during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Machinery Having Individual Functions were Japan ($15.8B), Germany ($13.3B), South Korea ($6.17B), Italy ($4.02B), and Netherlands ($1.52B).

In 2019, the countries that had a largest trade value in imports than in exports of Machinery Having Individual Functions were China ($12.5B), Chinese Taipei ($3.15B), Vietnam ($2.56B), Russia ($1.85B), and Mexico ($1.61B).

Disaggregation

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Value

In 2019, the world most traded Machinery Having Individual Functions, disaggragated by their HS6 level were Machines and mechanical appliances nes ($70.1B), Parts of machines and mechanical appliances... ($42.3B), Machines to mix, knead, crush, grind,... ($5.27B), Machines for public works, building etc,... ($2.71B), and Metal treating machines, electric wire coil-winders ($2.31B)

Import Tariffs

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In 2018, the average tariff for importing Machinery Having Individual Functions was 3.88%. The countries with the highest tariffs for importing Machinery Having Individual Functions were Bahamas (40.2%), Bermuda (20%), Maldives (19.6%), Cambodia (14.3%), and Iran (13.3%).

Product Complexity

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Diversification Frontier

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Specialization

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.

Country by Relatedness

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The following visualization shows the relatedness of Machinery Having Individual Functions to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.