HS Icon Sinkers, needles etc for knitting, etc machines

844851 (Harmonized System 1992 for 6-digit)

World Trade (2019): $812M, Rnk 2259 / 4648

Top Exporter (2019): $270M, Germany

Top Importer (2019): $214M, China

Product Complexity (2019): 0.53, Rnk 1614 / 4826

Export Growth (CAGR)(2018 - 2019): -13.6%, Rnk 3816 / 4648

Mean Tariff (2018): 3.55%, Rnk 5372 / 6538

Share of World Trade (2019): 0.0045%, Rnk 2259 / 4648

Overview:  This page contains the latest trade data of Sinkers, needles etc for knitting, etc machines. In 2019, Sinkers, needles etc for knitting, etc machines were the world's 2259th most traded product, with a total trade of $812M. Between 2018 and 2019 the exports of Sinkers, needles etc for knitting, etc machines decreased by -13.6%, from  $941M to $812M. Trade in Sinkers, needles etc for knitting, etc machines represent 0.0045% of total world trade.

Exports: In 2019 the top exporters of Sinkers, needles etc for knitting, etc machines  were Germany ($270M), Singapore ($157M), Czechia ($90.1M), Portugal ($85.5M), and South Korea ($45.3M).

Imports: In 2019 the top importers of Sinkers, needles etc for knitting, etc machines were China ($214M), Singapore ($153M), Germany ($84.6M), Turkey ($37.8M), and Vietnam ($24.9M).

Tariffs: In 2018 the average tariff for Sinkers, needles etc for knitting, etc machines was 3.55%, making it the 5372nd lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Sinkers, needles etc for knitting, etc machines are Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Romania (12.9%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Kenya (0%), Mauritius (0%), and Rwanda (0%).

Ranking: Sinkers, needles etc for knitting, etc machines ranks 1614th in the Product Complexity Index (PCI).

Description: Sinkers or needles are used to hold the thread in place for knitting. There are different sizes of sinkers and needles.

Exporters and Importers

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Trade By Country

Top Origin (2019): Germany, $270M

Top Destination (2019): China, $214M

Sinkers, needles etc for knitting, etc machines are the world's 2259th most traded product.

In 2019, the top exporters of Sinkers, needles etc for knitting, etc machines were Germany ($270M), Singapore ($157M), Czechia ($90.1M), Portugal ($85.5M), and South Korea ($45.3M).

In 2019, the top importers of Sinkers, needles etc for knitting, etc machines were China ($214M), Singapore ($153M), Germany ($84.6M), Turkey ($37.8M), and Vietnam ($24.9M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Singapore, $96.9M

Top Destination Growth (2018 - 2019): Turkey, $7.28M

Between 2018 and 2019, the exports of Sinkers, needles etc for knitting, etc machines grew the fastest in Singapore ($96.9M), Vietnam ($3.86M), Poland ($1.71M), United States ($1.08M), and Turkey ($733k).

Between 2018 and 2019, the fastest growing importers of Sinkers, needles etc for knitting, etc machines were Turkey ($7.28M), Brazil ($1.93M), Indonesia ($1.34M), Russia ($834k), and Malaysia ($671k).

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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 Sinkers, needles etc for knitting, etc machines.

In 2019,  market concentration measured using Shannon Entropy, was 3.03. This means that most of the exports of Sinkers, needles etc for knitting, etc machines are explained by 8 countries.

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TOP NET EXPORTER (2019): Germany, $186M

TOP NET IMPORTER (2019): China, $172M

This map shows which countries export or import more of Sinkers, needles etc for knitting, etc machines. Each country is colored based on the difference in exports and imports of Sinkers, needles etc for knitting, etc machines during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Sinkers, needles etc for knitting, etc machines were Germany ($186M), Portugal ($81.4M), Czechia ($76M), South Korea ($26.2M), and Vietnam ($15.1M).

In 2019, the countries that had a largest trade value in imports than in exports of Sinkers, needles etc for knitting, etc machines were China ($172M), Turkey ($34.8M), Brazil ($18.4M), Bangladesh ($17.6M), and Italy ($16M).

Import Tariffs

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In 2018, the average tariff for importing Sinkers, needles etc for knitting, etc machines was 3.55%.  The countries with the highest tariffs for importing Sinkers, needles etc for knitting, etc machines were Bahamas (40.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Romania (12.9%).

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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.