Steam Turbines8406 (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.
Trade By Country
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).
Trade by country
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).
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.
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).
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)
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.
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