HS Icon Parts of taps, cocks, valves or similar appliances

848190 (Harmonized System 1992 for 6-digit)

World Trade (2018): $17.7B, Rnk 155 / 4726

Top Exporter (2018): $4.2B, China

Top Importer (2018): $3.48B, United States

Product Complexity (2018): 1.13, Rnk 569 / 4873

Export Growth (CAGR)(2017 - 2018): 8.93%, Rnk 2821 / 4726

Mean Tariff (2018): 6.21%, Rnk 3495 / 6538

Share of World Trade (2018): 0.096%, Rnk 155 / 4726

Overview: In 2018, Parts of taps, cocks, valves or similar appliances were the world's 155th most traded product, with a total trade of $17.7B. Between 2017 and 2018 the exports of Parts of taps, cocks, valves or similar appliances grew by 8.93%, from  $16.2B to $17.7B. Trade in Parts of taps, cocks, valves or similar appliances represent 0.096% of total world trade.

Exports: In 2018 the top exporters of Parts of taps, cocks, valves or similar appliances  were China ($4.2B), United States ($2.37B), Germany ($2.05B), Italy ($1.06B), and Japan ($943M).

Imports: In 2018 the top importers of Parts of taps, cocks, valves or similar appliances were United States ($3.48B), Germany ($1.39B), China ($1.18B), Mexico ($1.12B), and Japan ($679M).

Tariffs: In 2018 the average tariff for Parts of taps, cocks, valves or similar appliances was 6.21%, been the 3495 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Parts of taps, cocks, valves or similar appliances are Bahamas (40.2%), Bermuda (25%), Iran (23.3%), Cameroon (19.6%), and Gabon (19.6%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Sri Lanka (0%).

Ranking: Parts of taps, cocks, valves or similar appliances ranks 569th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $4.2B

Top Destination (2018): United States, $3.48B

Parts of taps, cocks, valves or similar appliances are the world's 155th most traded product.

In 2018, the top exporters of Parts of taps, cocks, valves or similar appliances were China ($4.2B), United States ($2.37B), Germany ($2.05B), Italy ($1.06B), and Japan ($943M).

In 2018, the top importers of Parts of taps, cocks, valves or similar appliances were United States ($3.48B), Germany ($1.39B), China ($1.18B), Mexico ($1.12B), and Japan ($679M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $324M

Top Destination Growth (2017 - 2018): United States, $135M

Between 2017 and 2018, the exports of Parts of taps, cocks, valves or similar appliances grew the fastest in China ($324M), United States ($296M), Singapore ($234M), Denmark ($220M), and Germany ($92.8M).

Between 2017 and 2018, the fastest growing importers of Parts of taps, cocks, valves or similar appliances were United States ($135M), Saudi Arabia ($101M), Mexico ($93.4M), Netherlands ($86.8M), and India ($83M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Parts of taps, cocks, valves or similar appliances.

In 2018,  market concentration measured using Shannon Entropy, was 4.2. This means that most of the exports of Parts of taps, cocks, valves or similar appliances are explained by 18 countries.

TOP NET EXPORTER (2018): China, $3.02B

TOP NET IMPORTER (2018): United States, $1.11B

This map shows which countries export or import more of Parts of taps, cocks, valves or similar appliances. Each country is colored based on the difference in exports and imports of Parts of taps, cocks, valves or similar appliances during 2018.

In 2018, the countries that had a largest trade value in exports than imports of Parts of taps, cocks, valves or similar appliances were China ($3.02B), Germany ($654M), Italy ($580M), Chinese Taipei ($273M), and Japan ($264M).

In 2018, the countries that had a largest trade value in imports than exports of Parts of taps, cocks, valves or similar appliances were United States ($1.11B), Mexico ($851M), Canada ($300M), Saudi Arabia ($266M), and Netherlands ($174M).

Trade Forecasts

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This section shows forecasts for total trade for Parts of taps, cocks, valves or similar appliances. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Import Tariffs

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In 2018, the average tariff for importing Parts of taps, cocks, valves or similar appliances was 6.21%.  The countries with the highest tariffs for importing Parts of taps, cocks, valves or similar appliances were Bahamas (40.2%), Bermuda (25%), Iran (23.3%), Cameroon (19.6%), and Gabon (19.6%).

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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.