HS Icon Scales

8423 (Harmonized System 1992 for 4-digit)

World Trade (2018): $4.37B, Rnk 544 / 1225

Top Exporter (2018): $1.42B, China

Top Importer (2018): $735M, United States

Product Complexity (2018): 1.17, Rnk 114 / 1018

Export Growth (CAGR)(2017 - 2018): 7.66%, Rnk 872 / 1225

Mean Tariff (2018): 7.78%, Rnk 560 / 1259

Share of World Trade (2018): 0.024%, Rnk 544 / 1225

Overview:  This page contains the latest trade data of Scales. In 2018, Scales were the world's 544th most traded product, with a total trade of $4.37B. Between 2017 and 2018 the exports of Scales grew by 7.66%, from  $4.06B to $4.37B. Trade in Scales represent 0.024% of total world trade.

Exports: In 2018 the top exporters of Scales  were China ($1.42B), Germany ($722M), United States ($292M), Japan ($292M), and Netherlands ($207M).

Imports: In 2018 the top importers of Scales were United States ($735M), Germany ($276M), Netherlands ($238M), France ($182M), and United Kingdom ($157M).

Tariffs: In 2018 the average tariff for Scales was 7.78%, been the 560 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Scales are Bahamas (40.2%), Iran (29.5%), Bermuda (25%), Sudan (21.9%), and Maldives (19.6%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Scales ranks 114th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $1.42B

Top Destination (2018): United States, $735M

Scales are the world's 544th most traded product.

In 2018, the top exporters of Scales were China ($1.42B), Germany ($722M), United States ($292M), Japan ($292M), and Netherlands ($207M).

In 2018, the top importers of Scales were United States ($735M), Germany ($276M), Netherlands ($238M), France ($182M), and United Kingdom ($157M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $99.2M

Top Destination Growth (2017 - 2018): Netherlands, $48.3M

Between 2017 and 2018, the exports of Scales grew the fastest in Germany ($99.2M), United States ($58.1M), Netherlands ($55.7M), United Kingdom ($44.1M), and Italy ($31M).

Between 2017 and 2018, the fastest growing importers of Scales were Netherlands ($48.3M), United States ($30.3M), Canada ($28.2M), Indonesia ($27.6M), and Poland ($23.1M).

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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 Scales.

In 2018,  market concentration measured using Shannon Entropy, was 3.82. This means that most of the exports of Scales are explained by 14 countries.

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TOP NET EXPORTER (2018): China, $1.3B

TOP NET IMPORTER (2018): United States, $442M

This map shows which countries export or import more of Scales. Each country is colored based on the difference in exports and imports of Scales during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Scales were China ($1.3B), Germany ($446M), Japan ($189M), Denmark ($44.5M), and Switzerland ($30.8M).

In 2018, the countries that had a largest trade value in imports than in exports of Scales were United States ($442M), France ($108M), Canada ($98.1M), Russia ($94.2M), and Australia ($57.1M).

Trade Forecasts

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This section shows forecasts for total trade for Scales. 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 Scales was 7.78%.  The countries with the highest tariffs for importing Scales were Bahamas (40.2%), Iran (29.5%), Bermuda (25%), Sudan (21.9%), 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.