HS Icon Parts of gas turbine engines except turbo-jet/prop

841199 (Harmonized System 1992 for 6-digit)

World Trade (2019): $20.5B, Rnk 129 / 4648

Top Exporter (2019): $5.21B, United States

Top Importer (2019): $2.79B, United States

Product Complexity (2019): 1.23, Rnk 463 / 4826

Export Growth (CAGR)(2018 - 2019): 0.33%, Rnk 1456 / 4648

Mean Tariff (2018): 3.11%, Rnk 5648 / 6538

Share of World Trade (2019): 0.11%, Rnk 129 / 4648

Overview:  This page contains the latest trade data of Parts of gas turbine engines except turbo-jet/prop. In 2019, Parts of gas turbine engines except turbo-jet/prop were the world's 129th most traded product, with a total trade of $20.5B. Between 2018 and 2019 the exports of Parts of gas turbine engines except turbo-jet/prop grew by 0.33%, from  $20.4B to $20.5B. Trade in Parts of gas turbine engines except turbo-jet/prop represent 0.11% of total world trade.

Exports: In 2019 the top exporters of Parts of gas turbine engines except turbo-jet/prop  were United States ($5.21B), Italy ($2.02B), Germany ($2.01B), Japan ($1.31B), and Switzerland ($1.14B).

Imports: In 2019 the top importers of Parts of gas turbine engines except turbo-jet/prop were United States ($2.79B), Germany ($1.23B), Mexico ($970M), Singapore ($933M), and Italy ($825M).

Tariffs: In 2018 the average tariff for Parts of gas turbine engines except turbo-jet/prop was 3.11%, making it the 5648th lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Parts of gas turbine engines except turbo-jet/prop are Bermuda (25%), Bahamas (22.3%), Maldives (19.6%), Cambodia (15%), and Aruba (12%). The countries with the lowest tariffs are Angola (0%), Ethiopia (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Parts of gas turbine engines except turbo-jet/prop ranks 463rd in the Product Complexity Index (PCI).

Description: The common uses of parts of gas turbine engines are as follows: Turbo-jet: Turbines provide power to the compressors which provide air to the combustion chamber. The high-pressure air is mixed with fuel and ignited, the expanding gases driving the turbine which in turn drives the compressor. Turbo-prop: Turbines provide power to the compressors which provide air to the combustion chamber. This air is mixed with fuel and ignited, the expanding gases driving the turbine which in turn drives the compressor. Jet turbine: Turbines provide power

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2019): United States, $5.21B

Top Destination (2019): United States, $2.79B

Parts of gas turbine engines except turbo-jet/prop are the world's 129th most traded product.

In 2019, the top exporters of Parts of gas turbine engines except turbo-jet/prop were United States ($5.21B), Italy ($2.02B), Germany ($2.01B), Japan ($1.31B), and Switzerland ($1.14B).

In 2019, the top importers of Parts of gas turbine engines except turbo-jet/prop were United States ($2.79B), Germany ($1.23B), Mexico ($970M), Singapore ($933M), and Italy ($825M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2018 -  2019): United States, $297M

Top Destination Growth (2018 - 2019): Malaysia, $224M

Between 2018 and 2019, the exports of Parts of gas turbine engines except turbo-jet/prop grew the fastest in United States ($297M), Italy ($215M), Hungary ($138M), Turkey ($135M), and Mexico ($94.2M).

Between 2018 and 2019, the fastest growing importers of Parts of gas turbine engines except turbo-jet/prop were Malaysia ($224M), Germany ($206M), United States ($170M), Iraq ($129M), and Saudi Arabia ($112M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Parts of gas turbine engines except turbo-jet/prop.

In 2019,  market concentration measured using Shannon Entropy, was 4.06. This means that most of the exports of Parts of gas turbine engines except turbo-jet/prop are explained by 16 countries.

Explore Visualizations

TOP NET EXPORTER (2019): United States, $2.42B

TOP NET IMPORTER (2019): Saudi Arabia, $573M

This map shows which countries export or import more of Parts of gas turbine engines except turbo-jet/prop. Each country is colored based on the difference in exports and imports of Parts of gas turbine engines except turbo-jet/prop during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Parts of gas turbine engines except turbo-jet/prop were United States ($2.42B), Italy ($1.19B), Japan ($809M), Germany ($786M), and Switzerland ($651M).

In 2019, the countries that had a largest trade value in imports than in exports of Parts of gas turbine engines except turbo-jet/prop were Saudi Arabia ($573M), South Korea ($489M), Singapore ($387M), Algeria ($363M), and Thailand ($328M).

Import Tariffs

#permalink to section

In 2018, the average tariff for importing Parts of gas turbine engines except turbo-jet/prop was 3.11%.  The countries with the highest tariffs for importing Parts of gas turbine engines except turbo-jet/prop were Bermuda (25%), Bahamas (22.3%), Maldives (19.6%), Cambodia (15%), and Aruba (12%).

Explore Tariff Data

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
Filter

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.