HS Icon Parts, laboratory/industrial heating/cooling machiner

841990 (Harmonized System 1992 for 6-digit)

World Trade (2018): $6.29B, Rnk 523 / 4726

Top Exporter (2018): $953M, China

Top Importer (2018): $845M, United States

Product Complexity (2018): 0.9, Rnk 518 / 2722

Export Growth (CAGR)(2017 - 2018): 27.4%, Rnk 917 / 4726

Mean Tariff (2018): 4.94%, Rnk 4186 / 6538

Share of World Trade (2018): 0.034%, Rnk 523 / 4726

Overview:  This page contains the latest trade data of Parts, laboratory/industrial heating/cooling machiner. In 2018, Parts, laboratory/industrial heating/cooling machiner were the world's 523rd most traded product, with a total trade of $6.29B. Between 2017 and 2018 the exports of Parts, laboratory/industrial heating/cooling machiner grew by 27.4%, from  $4.94B to $6.29B. Trade in Parts, laboratory/industrial heating/cooling machiner represent 0.034% of total world trade.

Exports: In 2018 the top exporters of Parts, laboratory/industrial heating/cooling machiner  were China ($953M), Germany ($739M), United States ($497M), Italy ($449M), and France ($349M).

Imports: In 2018 the top importers of Parts, laboratory/industrial heating/cooling machiner were United States ($845M), China ($431M), Germany ($431M), Russia ($251M), and Japan ($217M).

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 518th 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.

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $953M

Top Destination (2018): United States, $845M

Parts, laboratory/industrial heating/cooling machiner are the world's 523rd most traded product.

In 2018, the top exporters of Parts, laboratory/industrial heating/cooling machiner were China ($953M), Germany ($739M), United States ($497M), Italy ($449M), and France ($349M).

In 2018, the top importers of Parts, laboratory/industrial heating/cooling machiner were United States ($845M), China ($431M), Germany ($431M), Russia ($251M), and Japan ($217M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $123M

Top Destination Growth (2017 - 2018): United States, $844M

Between 2017 and 2018, the exports of Parts, laboratory/industrial heating/cooling machiner grew the fastest in United States ($123M), Canada ($123M), France ($117M), China ($96.3M), and Mexico ($93.8M).

Between 2017 and 2018, the fastest growing importers of Parts, laboratory/industrial heating/cooling machiner were United States ($844M), Russia ($111M), Singapore ($108M), Australia ($78.1M), and China ($76.6M).

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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 Parts, laboratory/industrial heating/cooling machiner.

In 2018,  market concentration measured using Shannon Entropy, was 4.65. This means that most of the exports of Parts, laboratory/industrial heating/cooling machiner are explained by 25 countries.

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TOP NET EXPORTER (2018): China, $521M

TOP NET IMPORTER (2018): United States, $348M

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 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Parts, laboratory/industrial heating/cooling machiner were China ($521M), Germany ($308M), Italy ($287M), France ($171M), and Sweden ($161M).

In 2018, the countries that had a largest trade value in imports than in exports of Parts, laboratory/industrial heating/cooling machiner were United States ($348M), Russia ($224M), Indonesia ($98.4M), Saudi Arabia ($80.9M), and Iran ($70.8M).

Import Tariffs

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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%).

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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.