MachinesXVI (Harmonized System 1992 for Section)
World Trade (2018): $4.77T, Rnk 1 / 21
Top Exporter (2018): $1.21T, China
Top Importer (2018): $720B, United States
Product Complexity (2018): 1.49, Rnk 1 / 21
Export Growth (CAGR)(2017 - 2018): 7.74%, Rnk 16 / 21
Mean Tariff (2018): 5.89%, Rnk 19 / 21
Share of World Trade (2018): 25.9%, Rnk 1 / 21
Overview: This page contains the latest trade data of Machines. In 2018, Machines were the world's 1st most traded product, with a total trade of $4.77T. Between 2017 and 2018 the exports of Machines grew by 7.74%, from $4.43T to $4.77T. Trade in Machines represent 25.9% of total world trade.
Exports: In 2018 the top exporters of Machines were China ($1.21T), Germany ($430B), United States ($334B), South Korea ($265B), and Japan ($260B).
Imports: In 2018 the top importers of Machines were United States ($720B), China ($412B), Hong Kong ($398B), Germany ($309B), and Japan ($154B).
Tariffs: In 2018 the average tariff for Machines was 5.89%, been the 19 lowest tariff using the Section product classification.
The countries with the highest import tariffs for Machines are Bahamas (32.2%), Bermuda (24.1%), Maldives (20.3%), Iran (18%), and Cambodia (13.9%). The countries with the lowest tariffs are Hong Kong (0%), Singapore (0%), Switzerland (0%), Norway (0%), and Japan (0.012%).
Ranking: Machines ranks 1st in the Product Complexity Index (PCI).
Trade By Country
Top Origin (2018): China, $1.21T
Top Destination (2018): United States, $720B
Machines are the world's 1st most traded product.
In 2018, the top exporters of Machines were China ($1.21T), Germany ($430B), United States ($334B), South Korea ($265B), and Japan ($260B).
In 2018, the top importers of Machines were United States ($720B), China ($412B), Hong Kong ($398B), Germany ($309B), and Japan ($154B).
Trade by country
Top Origin Growth (2017 - 2018): Germany, $66.8B
Top Destination Growth (2017 - 2018): United States, $67.3B
Between 2017 and 2018, the exports of Machines grew the fastest in Germany ($66.8B), United States ($57.5B), China ($38.4B), Vietnam ($29.6B), and Netherlands ($25.8B).
Between 2017 and 2018, the fastest growing importers of Machines were United States ($67.3B), Mexico ($31.7B), Chinese Taipei ($24.9B), Netherlands ($24.3B), and Germany ($20B).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Machines.
In 2018, market concentration measured using Shannon Entropy, was 4.43. This means that most of the exports of Machines are explained by 21 countries.
TOP NET EXPORTER (2018): China, $800B
TOP NET IMPORTER (2018): United States, $387B
This map shows which countries export or import more of Machines. Each country is colored based on the difference in exports and imports of Machines during 2018.
In 2018, the countries that had a largest trade value in exports than in imports of Machines were China ($800B), South Korea ($138B), Germany ($121B), Chinese Taipei ($116B), and Japan ($106B).
In 2018, the countries that had a largest trade value in imports than in exports of Machines were United States ($387B), Hong Kong ($344B), India ($62.8B), Russia ($52.8B), and Australia ($46.5B).
This section shows forecasts for total trade for Machines. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
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.
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