HS Icon Steering wheels, columns & boxes for motor vehicles

870894 (Harmonized System 1992 for 6-digit)

World Trade (2019): $21.6B, Rnk 122 / 4648

Top Exporter (2019): $3.11B, Germany

Top Importer (2019): $4.37B, United States

Product Complexity (2019): 0.7, Rnk 1280 / 4826

Export Growth (CAGR)(2018 - 2019): -7.39%, Rnk 3031 / 4648

Mean Tariff (2018): 8.66%, Rnk 2647 / 6538

Share of World Trade (2019): 0.12%, Rnk 122 / 4648

Overview:  This page contains the latest trade data of Steering wheels, columns & boxes for motor vehicles. In 2019, Steering wheels, columns & boxes for motor vehicles were the world's 122nd most traded product, with a total trade of $21.6B. Between 2018 and 2019 the exports of Steering wheels, columns & boxes for motor vehicles decreased by -7.39%, from  $23.3B to $21.6B. Trade in Steering wheels, columns & boxes for motor vehicles represent 0.12% of total world trade.

Exports: In 2019 the top exporters of Steering wheels, columns & boxes for motor vehicles  were Germany ($3.11B), Mexico ($2.56B), United States ($2.19B), China ($1.9B), and France ($1.47B).

Imports: In 2019 the top importers of Steering wheels, columns & boxes for motor vehicles were United States ($4.37B), Germany ($2.21B), Mexico ($1.91B), China ($1.13B), and Canada ($1.01B).

Tariffs: In 2018 the average tariff for Steering wheels, columns & boxes for motor vehicles was 8.66%, making it the 2647th lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Steering wheels, columns & boxes for motor vehicles are Maldives (41.5%), Pakistan (35%), Bermuda (35%), Cape Verde (30%), and Sri Lanka (29.3%). The countries with the lowest tariffs are Ghana (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Steering wheels, columns & boxes for motor vehicles ranks 1280th in the Product Complexity Index (PCI).

Description: The steering wheel is often used to control the steering of the vehicle. The column is a steel bar that connects the steering wheel to the wheels and is important for transmitting the driver's commands to the vehicle's systems. It also has the ability to shift gears, brake, and accelerate the vehicle. The box is used to contain the steering assembly.

Exporters and Importers

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Trade By Country

Top Origin (2019): Germany, $3.11B

Top Destination (2019): United States, $4.37B

Steering wheels, columns & boxes for motor vehicles are the world's 122nd most traded product.

In 2019, the top exporters of Steering wheels, columns & boxes for motor vehicles were Germany ($3.11B), Mexico ($2.56B), United States ($2.19B), China ($1.9B), and France ($1.47B).

In 2019, the top importers of Steering wheels, columns & boxes for motor vehicles were United States ($4.37B), Germany ($2.21B), Mexico ($1.91B), China ($1.13B), and Canada ($1.01B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Hungary, $73.9M

Top Destination Growth (2018 - 2019): South Korea, $43.6M

Between 2018 and 2019, the exports of Steering wheels, columns & boxes for motor vehicles grew the fastest in Hungary ($73.9M), Mexico ($71.6M), Netherlands ($45M), Belgium ($24.4M), and Vietnam ($22.2M).

Between 2018 and 2019, the fastest growing importers of Steering wheels, columns & boxes for motor vehicles were South Korea ($43.6M), Hungary ($40.3M), Turkey ($37.9M), Russia ($29.6M), and Morocco ($29.4M).

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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 Steering wheels, columns & boxes for motor vehicles.

In 2019,  market concentration measured using Shannon Entropy, was 4.23. This means that most of the exports of Steering wheels, columns & boxes for motor vehicles are explained by 18 countries.

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TOP NET EXPORTER (2019): Germany, $908M

TOP NET IMPORTER (2019): United States, $2.18B

This map shows which countries export or import more of Steering wheels, columns & boxes for motor vehicles. Each country is colored based on the difference in exports and imports of Steering wheels, columns & boxes for motor vehicles during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Steering wheels, columns & boxes for motor vehicles were Germany ($908M), Japan ($864M), South Korea ($852M), China ($762M), and Poland ($701M).

In 2019, the countries that had a largest trade value in imports than in exports of Steering wheels, columns & boxes for motor vehicles were United States ($2.18B), Canada ($866M), Spain ($605M), Turkey ($604M), and United Kingdom ($513M).

Import Tariffs

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In 2018, the average tariff for importing Steering wheels, columns & boxes for motor vehicles was 8.66%.  The countries with the highest tariffs for importing Steering wheels, columns & boxes for motor vehicles were Maldives (41.5%), Pakistan (35%), Bermuda (35%), Cape Verde (30%), and Sri Lanka (29.3%).

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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.