HS Icon Steam Turbines

8406 (Harmonized System 1992 for 4-digit)

World Trade (2019): $4.28B, Rnk 544 / 1217

Top Exporter (2019): $780M, Japan

Top Importer (2019): $656M, Indonesia

Product Complexity (2019): 0.59, Rnk 307 / 961

Export Growth (CAGR)(2018 - 2019): -20%, Rnk 1146 / 1217

Mean Tariff (2018): 4.38%, Rnk 929 / 1259

Share of World Trade (2019): 0.024%, Rnk 544 / 1217

Overview:  This page contains the latest trade data of Steam Turbines. In 2019, Steam Turbines were the world's 544th most traded product, with a total trade of $4.28B. Between 2018 and 2019 the exports of Steam Turbines decreased by -20%, from  $5.35B to $4.28B. Trade in Steam Turbines represent 0.024% of total world trade.

Exports: In 2019 the top exporters of Steam Turbines  were Japan ($780M), China ($633M), Germany ($626M), United States ($353M), and India ($286M).

Imports: In 2019 the top importers of Steam Turbines were Indonesia ($656M), United States ($237M), China ($221M), Germany ($180M), and India ($158M).

Tariffs: In 2018 the average tariff for Steam Turbines was 4.38%, making it the 929th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Steam Turbines are Bahamas (31.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Aruba (12%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Steam Turbines ranks 307th in the Product Complexity Index (PCI).

Description: Steam turbines are used to generate electricity. They are made from a variety of materials, including steel and aluminum.

Exporters and Importers

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Trade By Country

Top Origin (2019): Japan, $780M

Top Destination (2019): Indonesia, $656M

Steam Turbines are the world's 544th most traded product.

In 2019, the top exporters of Steam Turbines were Japan ($780M), China ($633M), Germany ($626M), United States ($353M), and India ($286M).

In 2019, the top importers of Steam Turbines were Indonesia ($656M), United States ($237M), China ($221M), Germany ($180M), and India ($158M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): United States, $41.7M

Top Destination Growth (2018 - 2019): Indonesia, $146M

Between 2018 and 2019, the exports of Steam Turbines grew the fastest in United States ($41.7M), India ($41.2M), Czechia ($28.7M), Sweden ($21.9M), and Belgium ($18.2M).

Between 2018 and 2019, the fastest growing importers of Steam Turbines were Indonesia ($146M), Argentina ($49.5M), Brazil ($48.8M), Thailand ($35.6M), and Iraq ($33.4M).

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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 Steam Turbines.

In 2019,  market concentration measured using Shannon Entropy, was 4. This means that most of the exports of Steam Turbines are explained by 15 countries.

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TOP NET EXPORTER (2019): Japan, $651M

TOP NET IMPORTER (2019): Indonesia, $639M

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

In 2019, the countries that had a largest trade value in exports than in imports of Steam Turbines were Japan ($651M), Germany ($446M), China ($412M), Czechia ($201M), and Poland ($140M).

In 2019, the countries that had a largest trade value in imports than in exports of Steam Turbines were Indonesia ($639M), Vietnam ($125M), Pakistan ($121M), Thailand ($109M), and Malaysia ($89.6M).

Disaggregation

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Value

In 2019, the world most traded Steam Turbines, disaggragated by their HS6 level were Parts of steam and vapour turbines ($2.81B), Steam and vapour turbines nes ($1.36B), and Steam and vapour turbines for marine... ($107M)

Import Tariffs

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In 2018, the average tariff for importing Steam Turbines was 4.38%.  The countries with the highest tariffs for importing Steam Turbines were Bahamas (31.2%), Bermuda (25%), Maldives (19.6%), Cambodia (15%), and Aruba (12%).

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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.