Parts, laboratory/industrial heating/cooling machiner841990 (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.
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).
Trade by country
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).
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.
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).
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%).
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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