HS Icon Recreational Boats

8903 (Harmonized System 1992 for 4-digit)

Overview:  This page contains the latest trade data of Recreational Boats. In 2019, Recreational Boats were the world's 202nd most traded product, with a total trade of $18.1B. Between 2018 and 2019 the exports of Recreational Boats grew by 12.4%, from $16.1B to $18.1B. Trade in Recreational Boats represent 0.1% of total world trade.

Exports: In 2019 the top exporters of Recreational Boats  were Netherlands ($3.18B), Italy ($2.49B), United Kingdom ($1.83B), United States ($1.58B), and Cayman Islands ($1.41B).

Imports: In 2019 the top importers of Recreational Boats were Cayman Islands ($2.63B), United States ($2.42B), Malta ($1.5B), Netherlands ($1.46B), and British Virgin Islands ($932M).

Tariffs: In 2018 the average tariff for Recreational Boats was 11.2%, making it the 357th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Recreational Boats are Cambodia (35%), Sudan (35%), Iran (30%), Ethiopia (29.7%), and Cameroon (29.4%). The countries with the lowest tariffs are Mauritius (0%), Zambia (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Recreational Boats ranks 431st in the Product Complexity Index (PCI).

Description: Yachts and other vessels for pleasure or sports are used to travel on water. They can be made from a variety of materials, including wood, fiberglass, and aluminum.

Historical Data

#permalink to section

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2019): Netherlands, $3.18B

Top Destination (2019): Cayman Islands, $2.63B

Recreational Boats are the world's 202nd most traded product.

In 2019, the top exporters of Recreational Boats were Netherlands ($3.18B), Italy ($2.49B), United Kingdom ($1.83B), United States ($1.58B), and Cayman Islands ($1.41B).

In 2019, the top importers of Recreational Boats were Cayman Islands ($2.63B), United States ($2.42B), Malta ($1.5B), Netherlands ($1.46B), and British Virgin Islands ($932M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2018 -  2019): Netherlands, $849M

Top Destination Growth (2018 - 2019): Malta, $829M

Between 2018 and 2019, the exports of Recreational Boats grew the fastest in Netherlands ($849M), United Kingdom ($717M), Cayman Islands ($452M), Italy ($374M), and Qatar ($197M).

Between 2018 and 2019, the fastest growing importers of Recreational Boats were Malta ($829M), Netherlands ($674M), British Virgin Islands ($560M), Seychelles ($276M), and Spain ($187M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Recreational Boats.

In 2019,  market concentration measured using Shannon Entropy, was 4.21. This means that most of the exports of Recreational Boats are explained by 18 countries.

Explore Visualizations

TOP NET EXPORTER (2019): Italy, $2.09B

TOP NET IMPORTER (2019): Malta, $1.46B

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

In 2019, the countries that had a largest trade value in exports than in imports of Recreational Boats were Italy ($2.09B), Netherlands ($1.72B), United Kingdom ($1.37B), Mexico ($667M), and Germany ($632M).

In 2019, the countries that had a largest trade value in imports than in exports of Recreational Boats were Malta ($1.46B), Cayman Islands ($1.23B), United States ($836M), British Virgin Islands ($730M), and Gibraltar ($616M).

Disaggregation

#permalink to section
Value

In 2019, the world most traded Recreational Boats, disaggragated by their HS6 level were Motorboats, other than outboard motorboats ($12.9B), Rowing boats, canoes, pleasure boats except... ($2.67B), Sailboats, with or without auxiliary motor ($2.08B), and Inflatable pleasure craft ($510M)

Import Tariffs

#permalink to section

In 2018, the average tariff for importing Recreational Boats was 11.2%. The countries with the highest tariffs for importing Recreational Boats were Cambodia (35%), Sudan (35%), Iran (30%), Ethiopia (29.7%), and Cameroon (29.4%).

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
Specialization

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.

Country by Relatedness

#permalink to section

The following visualization shows the relatedness of Recreational Boats to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.