HS Icon Shock absorbers for motor vehicles

870880 (Harmonized System 1992 for 6-digit)

World Trade (2018): $18.6B, Rnk 150 / 4726

Top Exporter (2018): $3.71B, Germany

Top Importer (2018): $4.03B, United States

Export Growth (CAGR)(2017 - 2018): 8.63%, Rnk 2861 / 4726

Mean Tariff (2018): 7.46%, Rnk 3023 / 6538

Share of World Trade (2018): 0.1%, Rnk 150 / 4726

Overview:  This page contains the latest trade data of Shock absorbers for motor vehicles. In 2018, Shock absorbers for motor vehicles were the world's 150th most traded product, with a total trade of $18.6B. Between 2017 and 2018 the exports of Shock absorbers for motor vehicles grew by 8.63%, from  $17.1B to $18.6B. Trade in Shock absorbers for motor vehicles represent 0.1% of total world trade.

Exports: In 2018 the top exporters of Shock absorbers for motor vehicles  were Germany ($3.71B), China ($2.64B), Mexico ($1.42B), United States ($1.24B), and Japan ($1.14B).

Imports: In 2018 the top importers of Shock absorbers for motor vehicles were United States ($4.03B), Germany ($1.88B), Mexico ($1.36B), China ($962M), and United Kingdom ($766M).

Tariffs: In 2018 the average tariff for Shock absorbers for motor vehicles was 7.46%, been the 3023 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Shock absorbers for motor vehicles are Maldives (41.5%), Pakistan (35%), Bermuda (35%), Cape Verde (30%), and Sri Lanka (29.3%). The countries with the lowest tariffs are Ghana (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $3.71B

Top Destination (2018): United States, $4.03B

Shock absorbers for motor vehicles are the world's 150th most traded product.

In 2018, the top exporters of Shock absorbers for motor vehicles were Germany ($3.71B), China ($2.64B), Mexico ($1.42B), United States ($1.24B), and Japan ($1.14B).

In 2018, the top importers of Shock absorbers for motor vehicles were United States ($4.03B), Germany ($1.88B), Mexico ($1.36B), China ($962M), and United Kingdom ($766M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $585M

Top Destination Growth (2017 - 2018): Germany, $199M

Between 2017 and 2018, the exports of Shock absorbers for motor vehicles grew the fastest in Germany ($585M), China ($386M), Poland ($156M), Slovakia ($148M), and Belgium-Luxembourg ($102M).

Between 2017 and 2018, the fastest growing importers of Shock absorbers for motor vehicles were Germany ($199M), Spain ($161M), United States ($160M), Czechia ($123M), and Slovakia ($95.9M).

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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 Shock absorbers for motor vehicles.

In 2018,  market concentration measured using Shannon Entropy, was 4.18. This means that most of the exports of Shock absorbers for motor vehicles are explained by 18 countries.

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TOP NET EXPORTER (2018): Germany, $1.83B

TOP NET IMPORTER (2018): United States, $2.79B

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

In 2018, the countries that had a largest trade value in exports than in imports of Shock absorbers for motor vehicles were Germany ($1.83B), China ($1.68B), Japan ($781M), Canada ($666M), and South Korea ($460M).

In 2018, the countries that had a largest trade value in imports than in exports of Shock absorbers for motor vehicles were United States ($2.79B), Russia ($506M), United Kingdom ($435M), Sweden ($214M), and Italy ($209M).

Trade Forecasts

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This section shows forecasts for total trade for Shock absorbers for motor vehicles. 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 Shock absorbers for motor vehicles was 7.46%.  The countries with the highest tariffs for importing Shock absorbers for motor vehicles were Maldives (41.5%), Pakistan (35%), Bermuda (35%), Cape Verde (30%), and Sri Lanka (29.3%).

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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.