HS Icon Tractors

8701 (Harmonized System 1992 for 4-digit)

 2019
World Trade
: $57B, Rnk 56 / 1217

2019
Top Exporter | Top Importer
: $10.7B | $13.1B, Mexico | United States

2019
Product Complexity
: 0.92, Rnk 176 / 961

2018 - 2019
Export Growth (CAGR)
: -4.59%, Rnk 718 / 1217

2018
Mean Tariff
: 6.55%, Rnk 651 / 1259

 2019
Share of World Trade
: 0.31%, Rnk 56 / 1217

Overview:  This page contains the latest trade data of Tractors. In 2019, Tractors were the world's 56th most traded product, with a total trade of $57B. Between 2018 and 2019 the exports of Tractors decreased by -4.59%, from  $59.7B to $57B. Trade in Tractors represent 0.31% of total world trade.

Exports: In 2019 the top exporters of Tractors  were Mexico ($10.7B), Germany ($8.65B), Netherlands ($5.73B), United States ($5.6B), and France ($3.44B).

Imports: In 2019 the top importers of Tractors were United States ($13.1B), Canada ($4.21B), France ($3.84B), Germany ($3.26B), and United Kingdom ($2.32B).

Tariffs: In 2018 the average tariff for Tractors was 6.55%, making it the 651st 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 176th in the Product Complexity Index (PCI).

Description: Tractors are used to move heavy objects, such as construction equipment and farm machinery. Tractors can be powered by a variety of different fuels, including gasoline, diesel, and natural gas.

Exporters and Importers

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Trade By Country

Top Origin (2019): Mexico, $10.7B

Top Destination (2019): United States, $13.1B

Tractors are the world's 56th most traded product.

In 2019, the top exporters of Tractors were Mexico ($10.7B), Germany ($8.65B), Netherlands ($5.73B), United States ($5.6B), and France ($3.44B).

In 2019, the top importers of Tractors were United States ($13.1B), Canada ($4.21B), France ($3.84B), Germany ($3.26B), and United Kingdom ($2.32B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Mexico, $423M

Top Destination Growth (2018 - 2019): United States, $602M

Between 2018 and 2019, the exports of Tractors grew the fastest in Mexico ($423M), Spain ($198M), Canada ($89.1M), Belgium ($51.9M), and Belarus ($40.9M).

Between 2018 and 2019, the fastest growing importers of Tractors were United States ($602M), France ($278M), United Kingdom ($141M), Vietnam ($128M), and Colombia ($126M).

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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 Tractors.

In 2019,  market concentration measured using Shannon Entropy, was 4.08. This means that most of the exports of Tractors are explained by 16 countries.

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TOP NET EXPORTER (2019): Mexico, $10.2B

TOP NET IMPORTER (2019): United States, $7.51B

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 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Tractors were Mexico ($10.2B), Germany ($5.39B), Netherlands ($4.7B), Japan ($1.62B), and Belgium ($1.56B).

In 2019, the countries that had a largest trade value in imports than in exports of Tractors were United States ($7.51B), Canada ($3.71B), Russia ($1.31B), Poland ($1.27B), and Australia ($872M).

Disaggregation

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Value

In 2019, the world most traded Tractors, disaggragated by their HS6 level were Road tractors for semi-trailers (truck tractors) ($35B), Wheeled tractors nes ($19.9B), Track-laying tractors (crawlers) ($1.74B), and Pedestrian controlled tractors ($285M)

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.