HS Icon Permanent magnets & articles intended as magnets, nes

850519 (Harmonized System 1992 for 6-digit)

World Trade (2018): $1.56B, Rnk 1561 / 4726

Top Exporter (2018): $624M, China

Top Importer (2018): $181M, Germany

Export Growth (CAGR)(2017 - 2018): 8.92%, Rnk 2822 / 4726

Mean Tariff (2018): 7.17%, Rnk 3130 / 6538

Share of World Trade (2018): 0.0085%, Rnk 1561 / 4726

Overview:  This page contains the latest trade data of Permanent magnets & articles intended as magnets, nes. In 2018, Permanent magnets & articles intended as magnets, nes were the world's 1561st most traded product, with a total trade of $1.56B. Between 2017 and 2018 the exports of Permanent magnets & articles intended as magnets, nes grew by 8.92%, from  $1.43B to $1.56B. Trade in Permanent magnets & articles intended as magnets, nes represent 0.0085% of total world trade.

Exports: In 2018 the top exporters of Permanent magnets & articles intended as magnets, nes  were China ($624M), Germany ($154M), South Korea ($133M), Japan ($102M), and Malaysia ($55.2M).

Imports: In 2018 the top importers of Permanent magnets & articles intended as magnets, nes were Germany ($181M), United States ($119M), China ($106M), Vietnam ($84.4M), and Italy ($82.5M).

Tariffs: In 2018 the average tariff for Permanent magnets & articles intended as magnets, nes was 7.17%, been the 3130 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Permanent magnets & articles intended as magnets, nes are Bahamas (40.2%), Iran (40%), Uzbekistan (28.7%), Bermuda (25%), and Maldives (19.6%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $624M

Top Destination (2018): Germany, $181M

Permanent magnets & articles intended as magnets, nes are the world's 1561st most traded product.

In 2018, the top exporters of Permanent magnets & articles intended as magnets, nes were China ($624M), Germany ($154M), South Korea ($133M), Japan ($102M), and Malaysia ($55.2M).

In 2018, the top importers of Permanent magnets & articles intended as magnets, nes were Germany ($181M), United States ($119M), China ($106M), Vietnam ($84.4M), and Italy ($82.5M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Malaysia, $26.3M

Top Destination Growth (2017 - 2018): United States, $119M

Between 2017 and 2018, the exports of Permanent magnets & articles intended as magnets, nes grew the fastest in Malaysia ($26.3M), France ($23.4M), Turkey ($17.7M), Canada ($11.9M), and Thailand ($10.2M).

Between 2017 and 2018, the fastest growing importers of Permanent magnets & articles intended as magnets, nes were United States ($119M), Singapore ($16.7M), Australia ($15.7M), Germany ($13.8M), and Vietnam ($13.7M).

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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 Permanent magnets & articles intended as magnets, nes.

In 2018,  market concentration measured using Shannon Entropy, was 3.55. This means that most of the exports of Permanent magnets & articles intended as magnets, nes are explained by 11 countries.

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TOP NET EXPORTER (2018): China, $517M

TOP NET IMPORTER (2018): Vietnam, $72.2M

This map shows which countries export or import more of Permanent magnets & articles intended as magnets, nes. Each country is colored based on the difference in exports and imports of Permanent magnets & articles intended as magnets, nes during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Permanent magnets & articles intended as magnets, nes were China ($517M), South Korea ($83.8M), Japan ($40.8M), Malaysia ($24.5M), and Philippines ($13.1M).

In 2018, the countries that had a largest trade value in imports than in exports of Permanent magnets & articles intended as magnets, nes were Vietnam ($72.2M), United States ($68.9M), Mexico ($64.5M), Thailand ($55.9M), and Italy ($41.5M).

Trade Forecasts

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This section shows forecasts for total trade for Permanent magnets & articles intended as magnets, nes. 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 Permanent magnets & articles intended as magnets, nes was 7.17%.  The countries with the highest tariffs for importing Permanent magnets & articles intended as magnets, nes were Bahamas (40.2%), Iran (40%), Uzbekistan (28.7%), Bermuda (25%), and Maldives (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.