HS Icon Tractors

8701 (Harmonized System 1992 for 4-digit)

World Trade (2018): $59.2B, Rnk 53 / 1225

Top Exporter (2018): $10B, Mexico

Top Importer (2018): $12.5B, United States

Product Complexity (2018): 0.73, Rnk 272 / 1018

Export Growth (CAGR)(2017 - 2018): 21%, Rnk 313 / 1225

Mean Tariff (2018): 6.55%, Rnk 651 / 1259

Share of World Trade (2018): 0.32%, Rnk 53 / 1225

Overview: In 2018, Tractors were the world's 53rd most traded product, with a total trade of $59.2B. Between 2017 and 2018 the exports of Tractors grew by 21%, from  $49B to $59.2B. Trade in Tractors represent 0.32% of total world trade.

Exports: In 2018 the top exporters of Tractors  were Mexico ($10B), Germany ($9.36B), Netherlands ($6.03B), United States ($5.56B), and France ($3.93B).

Imports: In 2018 the top importers of Tractors were United States ($12.5B), Canada ($4.33B), Germany ($3.64B), France ($3.56B), and Poland ($2.49B).

Tariffs: In 2018 the average tariff for Tractors was 6.55%, been the 651 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Tractors are Maldives (35%), Poland (31%), Bermuda (21.5%), Nigeria (20.5%), and Romania (19.9%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Rwanda (0%), Uganda (0%), and Zambia (0%).

Ranking: Tractors ranks 272nd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Mexico, $10B

Top Destination (2018): United States, $12.5B

Tractors are the world's 53rd most traded product.

In 2018, the top exporters of Tractors were Mexico ($10B), Germany ($9.36B), Netherlands ($6.03B), United States ($5.56B), and France ($3.93B).

In 2018, the top importers of Tractors were United States ($12.5B), Canada ($4.33B), Germany ($3.64B), France ($3.56B), and Poland ($2.49B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Mexico, $3.36B

Top Destination Growth (2017 - 2018): United States, $3.52B

Between 2017 and 2018, the exports of Tractors grew the fastest in Mexico ($3.36B), Germany ($1.47B), United States ($967M), France ($894M), and Netherlands ($752M).

Between 2017 and 2018, the fastest growing importers of Tractors were United States ($3.52B), Canada ($1.28B), Germany ($1.06B), Poland ($573M), and Spain ($528M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Tractors.

In 2018,  market concentration measured using Shannon Entropy, was 4.1. This means that most of the exports of Tractors are explained by 17 countries.

TOP NET EXPORTER (2018): Mexico, $9.59B

TOP NET IMPORTER (2018): United States, $6.94B

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

In 2018, the countries that had a largest trade value in exports than imports of Tractors were Mexico ($9.59B), Germany ($5.72B), Netherlands ($4.82B), Brazil ($1.95B), and Sweden ($1.69B).

In 2018, the countries that had a largest trade value in imports than exports of Tractors were United States ($6.94B), Canada ($3.92B), Russia ($1.62B), Poland ($1.49B), and Australia ($1.03B).

Trade Forecasts

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This section shows forecasts for total trade for Tractors. 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 Tractors was 6.55%.  The countries with the highest tariffs for importing Tractors were Maldives (35%), Poland (31%), Bermuda (21.5%), Nigeria (20.5%), and Romania (19.9%).

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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.