Steam Turbines
8406 (Harmonized System 1992 for 4-digit)
Overview: This page contains the latest trade data of Steam Turbines. In 2018, Steam Turbines were the world's 496th most traded product, with a total trade of $5.09B. Between 2017 and 2018 the exports of Steam Turbines grew by 15.3%, from $4.41B to $5.09B. Trade in Steam Turbines represent 0.028% of total world trade.
Exports: In 2018 the top exporters of Steam Turbines were Japan ($886M), China ($829M), Germany ($708M), Italy ($257M), and United States ($251M).
Imports: In 2018 the top importers of Steam Turbines were Indonesia ($509M), United States ($330M), Bolivia ($322M), India ($297M), and China ($219M).
Tariffs: In 2018 the average tariff for Steam Turbines was 4.38%, been the 929 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%).
Product Trade
#permalink to sectionExporters and Importers
#permalink to sectionTrade By Country
Steam Turbines are the world's 496th most traded product.
In 2018, the top exporters of Steam Turbines were Japan ($886M), China ($829M), Germany ($708M), Italy ($257M), and United States ($251M).
In 2018, the top importers of Steam Turbines were Indonesia ($509M), United States ($330M), Bolivia ($322M), India ($297M), and China ($219M).
Market Dynamics
#permalink to sectionTrade by country
Top Origin Growth (2017 - 2018): Germany, $214M
Top Destination Growth (2017 - 2018): United States, $310M
Between 2017 and 2018, the exports of Steam Turbines grew the fastest in Germany ($214M), Russia ($165M), India ($149M), China ($110M), and Italy ($74.4M).
Between 2017 and 2018, the fastest growing importers of Steam Turbines were United States ($310M), Indonesia ($266M), Bolivia ($260M), India ($176M), and Bangladesh ($123M).
Market Concentration
#permalink to sectionCumulative market share
This chart shows the evolution of the market concentration of exports of Steam Turbines.
In 2018, market concentration measured using Shannon Entropy, was 4.13. This means that most of the exports of Steam Turbines are explained by 17 countries.
Net Trade
#permalink to sectionThis 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 2018.
In 2018, the countries that had a largest trade value in exports than in imports of Steam Turbines were Japan ($757M), China ($610M), Germany ($514M), Italy ($202M), and Russia ($182M).
In 2018, the countries that had a largest trade value in imports than in exports of Steam Turbines were Indonesia ($490M), Bolivia ($322M), Pakistan ($159M), Iran ($158M), and Bangladesh ($154M).
Forecasts
#permalink to sectionTrade Forecasts
#permalink to sectionThis section shows forecasts for total trade for Steam Turbines. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
Tariffs
#permalink to sectionProduct Complexity
#permalink to sectionDiversification Frontier
#permalink to sectionThe 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.
