HS Icon Specialized Vehicles

8705 (Harmonized System 1992 for 4-digit)

World Trade (2018): $13.7B, Rnk 265 / 1225

Top Exporter (2018): $3.98B, Germany

Top Importer (2018): $1.16B, United States

Product Complexity (2018): 0.066, Rnk 520 / 1018

Export Growth (CAGR)(2017 - 2018): 18.2%, Rnk 383 / 1225

Mean Tariff (2018): 7.87%, Rnk 552 / 1259

Share of World Trade (2018): 0.074%, Rnk 265 / 1225

Overview: In 2018, Specialized Vehicles were the world's 265th most traded product, with a total trade of $13.7B. Between 2017 and 2018 the exports of Specialized Vehicles grew by 18.2%, from  $11.6B to $13.7B. Trade in Specialized Vehicles represent 0.074% of total world trade.

Exports: In 2018 the top exporters of Specialized Vehicles  were Germany ($3.98B), United States ($1.76B), China ($1.24B), Italy ($1.1B), and Netherlands ($448M).

Imports: In 2018 the top importers of Specialized Vehicles were United States ($1.16B), Canada ($895M), France ($724M), Australia ($498M), and Germany ($492M).

Tariffs: In 2018 the average tariff for Specialized Vehicles was 7.87%, been the 552 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Specialized Vehicles are Maldives (35%), Bermuda (35%), Poland (31%), Malaysia (30%), and Pakistan (29.8%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Specialized Vehicles ranks 520th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $3.98B

Top Destination (2018): United States, $1.16B

Specialized Vehicles are the world's 265th most traded product.

In 2018, the top exporters of Specialized Vehicles were Germany ($3.98B), United States ($1.76B), China ($1.24B), Italy ($1.1B), and Netherlands ($448M).

In 2018, the top importers of Specialized Vehicles were United States ($1.16B), Canada ($895M), France ($724M), Australia ($498M), and Germany ($492M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $439M

Top Destination Growth (2017 - 2018): United States, $375M

Between 2017 and 2018, the exports of Specialized Vehicles grew the fastest in United States ($439M), Germany ($433M), Italy ($274M), Canada ($151M), and Netherlands ($146M).

Between 2017 and 2018, the fastest growing importers of Specialized Vehicles were United States ($375M), Australia ($252M), France ($231M), Canada ($231M), and Russia ($166M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Specialized Vehicles.

In 2018,  market concentration measured using Shannon Entropy, was 4.07. This means that most of the exports of Specialized Vehicles are explained by 16 countries.

TOP NET EXPORTER (2018): Germany, $3.49B

TOP NET IMPORTER (2018): Canada, $471M

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

In 2018, the countries that had a largest trade value in exports than imports of Specialized Vehicles were Germany ($3.49B), China ($959M), Italy ($944M), United States ($603M), and Austria ($212M).

In 2018, the countries that had a largest trade value in imports than exports of Specialized Vehicles were Canada ($471M), Australia ($461M), Algeria ($288M), Saudi Arabia ($281M), and France ($278M).

Trade Forecasts

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This section shows forecasts for total trade for Specialized 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 Specialized Vehicles was 7.87%.  The countries with the highest tariffs for importing Specialized Vehicles were Maldives (35%), Bermuda (35%), Poland (31%), Malaysia (30%), and Pakistan (29.8%).

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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.