HS Icon Passenger and Cargo Ships

8901 (Harmonized System 1992 for 4-digit)

 2019
World Trade
: $69.9B, Rnk 38 / 1217

2019
Top Exporter | Top Importer
: $17.1B | $7.99B, South Korea | Singapore

2019
Product Complexity
: -0.34, Rnk 631 / 961

2018 - 2019
Export Growth (CAGR)
: -6.18%, Rnk 796 / 1217

2018
Mean Tariff
: 4.68%, Rnk 880 / 1259

 2019
Share of World Trade
: 0.39%, Rnk 38 / 1217

Overview:  This page contains the latest trade data of Passenger and Cargo Ships. In 2019, Passenger and Cargo Ships were the world's 38th most traded product, with a total trade of $69.9B. Between 2018 and 2019 the exports of Passenger and Cargo Ships decreased by -6.18%, from  $74.5B to $69.9B. Trade in Passenger and Cargo Ships represent 0.39% of total world trade.

Exports: In 2019 the top exporters of Passenger and Cargo Ships  were South Korea ($17.1B), China ($13.9B), Japan ($13.7B), Germany ($4.85B), and Italy ($2.01B).

Imports: In 2019 the top importers of Passenger and Cargo Ships were Singapore ($7.99B), Panama ($7.94B), Marshall Islands ($6.92B), Liberia ($6.6B), and Hong Kong ($4.29B).

Tariffs: In 2018 the average tariff for Passenger and Cargo Ships was 4.68%, making it the 880th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Passenger and Cargo Ships are Bermuda (35%), Maldives (24.8%), Romania (17.2%), Cambodia (15%), and Canada (14.9%). The countries with the lowest tariffs are Angola (0%), Algeria (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Passenger and Cargo Ships ranks 631st in the Product Complexity Index (PCI).

Description: Cruise ships are used to transport people on long trips. They're usually used for cruises, which are trips that last several days or weeks. Excursion boats are smaller boats that can be used for shorter trips. Ferry-boats and cargo ships are large vessels that can carry a lot of cargo. Barges and similar vessels are also large vessels that can carry a lot of cargo.

Exporters and Importers

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Trade By Country

Top Origin (2019): South Korea, $17.1B

Top Destination (2019): Singapore, $7.99B

Passenger and Cargo Ships are the world's 38th most traded product.

In 2019, the top exporters of Passenger and Cargo Ships were South Korea ($17.1B), China ($13.9B), Japan ($13.7B), Germany ($4.85B), and Italy ($2.01B).

In 2019, the top importers of Passenger and Cargo Ships were Singapore ($7.99B), Panama ($7.94B), Marshall Islands ($6.92B), Liberia ($6.6B), and Hong Kong ($4.29B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): China, $2.51B

Top Destination Growth (2018 - 2019): Liberia, $2.77B

Between 2018 and 2019, the exports of Passenger and Cargo Ships grew the fastest in China ($2.51B), South Korea ($1.13B), Finland ($871M), Japan ($866M), and Thailand ($648M).

Between 2018 and 2019, the fastest growing importers of Passenger and Cargo Ships were Liberia ($2.77B), Singapore ($808M), China ($800M), Hong Kong ($592M), and Spain ($422M).

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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 Passenger and Cargo Ships.

In 2019,  market concentration measured using Shannon Entropy, was 3.69. This means that most of the exports of Passenger and Cargo Ships are explained by 12 countries.

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TOP NET EXPORTER (2019): South Korea, $16.2B

TOP NET IMPORTER (2019): Panama, $7.63B

This map shows which countries export or import more of Passenger and Cargo Ships. Each country is colored based on the difference in exports and imports of Passenger and Cargo Ships during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Passenger and Cargo Ships were South Korea ($16.2B), Japan ($13B), China ($12.6B), Germany ($2.87B), and Finland ($1.7B).

In 2019, the countries that had a largest trade value in imports than in exports of Passenger and Cargo Ships were Panama ($7.63B), Singapore ($7.35B), Liberia ($6.22B), Marshall Islands ($6.07B), and Hong Kong ($4.21B).

Disaggregation

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Value

In 2019, the world most traded Passenger and Cargo Ships, disaggragated by their HS6 level were Cargo vessels other than tanker or... ($31.9B), Tankers ($26.9B), Cruise ships, excursion boats, ferry boats ($10.7B), and Refrigerated vessels other than tankers ($432M)

Import Tariffs

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In 2018, the average tariff for importing Passenger and Cargo Ships was 4.68%.  The countries with the highest tariffs for importing Passenger and Cargo Ships were Bermuda (35%), Maldives (24.8%), Romania (17.2%), Cambodia (15%), and Canada (14.9%).

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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.