HS Icon Parts, laboratory/industrial heating/cooling machiner

841990 (Harmonized System 1992 for 6-digit)

Overview This page contains the latest trade data of Parts, laboratory/industrial heating/cooling machiner. In 2019, Parts, laboratory/industrial heating/cooling machiner were the world's 502nd most traded product, with a total trade of $6.36B. Between 2018 and 2019 the exports of Parts, laboratory/industrial heating/cooling machiner decreased by -3.23%, from $6.57B to $6.36B. Trade in Parts, laboratory/industrial heating/cooling machiner represent 0.035% of total world trade.

Exports In 2019 the top exporters of Parts, laboratory/industrial heating/cooling machiner  were China ($1.01B), United States ($752M), Germany ($740M), Italy ($448M), and Sweden ($277M).

Imports In 2019 the top importers of Parts, laboratory/industrial heating/cooling machiner were United States ($850M), Germany ($401M), China ($380M), Canada ($272M), and Japan ($225M).

Tariffs In 2018 the average tariff for Parts, laboratory/industrial heating/cooling machiner was 4.94%, making it the 4186th lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Parts, laboratory/industrial heating/cooling machiner are Bahamas (40.2%), Algeria (22.1%), Mauritania (20%), Maldives (19.6%), and Iran (18%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking Parts, laboratory/industrial heating/cooling machiner ranks 758th in the Product Complexity Index (PCI).

Description Industrial heating and cooling machines can be used to heat and cool, either fluids or gases. They are typically used in the laboratory setting to maintain a constant temperature. How does an air-conditioner work? An air conditioner has the ability to cool the air by sucking in hot air and pushing out cooled air. The cool air is pushed out the back of the room and the hot air is pushed out the front.

Historical Data

#permalink to section

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2019): China, $1.01B

Top Destination (2019): United States, $850M

Parts, laboratory/industrial heating/cooling machiner are the world's 502nd most traded product.

In 2019, the top exporters of Parts, laboratory/industrial heating/cooling machiner were China ($1.01B), United States ($752M), Germany ($740M), Italy ($448M), and Sweden ($277M).

In 2019, the top importers of Parts, laboratory/industrial heating/cooling machiner were United States ($850M), Germany ($401M), China ($380M), Canada ($272M), and Japan ($225M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2018 -  2019): China, $54.2M

Top Destination Growth (2018 - 2019): France, $25.6M

Between 2018 and 2019, the exports of Parts, laboratory/industrial heating/cooling machiner grew the fastest in China ($54.2M), Philippines ($29.6M), South Korea ($22.2M), Thailand ($15.9M), and Spain ($13M).

Between 2018 and 2019, the fastest growing importers of Parts, laboratory/industrial heating/cooling machiner were France ($25.6M), Canada ($21.9M), India ($20.8M), Thailand ($16.6M), and Saudi Arabia ($15.2M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

Value

This chart shows the evolution of the market concentration of exports of Parts, laboratory/industrial heating/cooling machiner.

In 2019,  market concentration measured using Shannon Entropy, was 4.54. This means that most of the exports of Parts, laboratory/industrial heating/cooling machiner are explained by 23 countries.

Explore Visualizations

TOP NET EXPORTER (2019): China, $626M

TOP NET IMPORTER (2019): Russia, $130M

This map shows which countries export or import more of Parts, laboratory/industrial heating/cooling machiner. Each country is colored based on the difference in exports and imports of Parts, laboratory/industrial heating/cooling machiner during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Parts, laboratory/industrial heating/cooling machiner were China ($626M), Germany ($339M), Italy ($295M), Sweden ($164M), and Denmark ($138M).

In 2019, the countries that had a largest trade value in imports than in exports of Parts, laboratory/industrial heating/cooling machiner were Russia ($130M), Canada ($115M), Indonesia ($102M), Saudi Arabia ($101M), and United States ($97.9M).

Import Tariffs

#permalink to section

In 2018, the average tariff for importing Parts, laboratory/industrial heating/cooling machiner was 4.94%. The countries with the highest tariffs for importing Parts, laboratory/industrial heating/cooling machiner were Bahamas (40.2%), Algeria (22.1%), Mauritania (20%), Maldives (19.6%), and Iran (18%).

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
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.