HS Icon Transformers electric, power capacity > 500 KVA, nes

850434 (Harmonized System 1992 for 6-digit)

 2019
World Trade
: $1.55B, Rnk 1545 / 4648

2019
Top Exporter | Top Importer
: $250M | $153M, China | United States

2019
Product Complexity
: 0.15, Rnk 2363 / 4826

2018 - 2019
Export Growth (CAGR)
: -3.58%, Rnk 2328 / 4648

2018
Mean Tariff
: 7.27%, Rnk 3092 / 6538

 2019
Share of World Trade
: 0.0085%, Rnk 1545 / 4648

Overview:  This page contains the latest trade data of Transformers electric, power capacity > 500 KVA, nes. In 2019, Transformers electric, power capacity > 500 KVA, nes were the world's 1545th most traded product, with a total trade of $1.55B. Between 2018 and 2019 the exports of Transformers electric, power capacity > 500 KVA, nes decreased by -3.58%, from  $1.6B to $1.55B. Trade in Transformers electric, power capacity > 500 KVA, nes represent 0.0085% of total world trade.

Exports: In 2019 the top exporters of Transformers electric, power capacity > 500 KVA, nes  were China ($250M), Germany ($228M), Italy ($181M), South Korea ($80.7M), and Denmark ($70.1M).

Imports: In 2019 the top importers of Transformers electric, power capacity > 500 KVA, nes were United States ($153M), China ($66.5M), United Arab Emirates ($64.1M), Germany ($63.3M), and Belgium ($60.7M).

Tariffs: In 2018 the average tariff for Transformers electric, power capacity > 500 KVA, nes was 7.27%, making it the 3092nd lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Transformers electric, power capacity > 500 KVA, nes are Bahamas (40.2%), Iran (25%), Bermuda (25%), Bangladesh (24.5%), and Tunisia (20%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Transformers electric, power capacity > 500 KVA, nes ranks 2363rd in the Product Complexity Index (PCI).

Description: Transformers are used to step up and step down the voltage of electricity. One common use of transformers is to step up the voltage of electricity from a power plant to a transmission line voltage of 115,000 volts so that it can be transmitted over long distances. Another common use of transformers is to step down the voltage of electricity at the end of a transmission line to a distribution voltage of 7,200 volts so that electricity can be distributed over shorter distances to homes and businesses.

Exporters and Importers

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Trade By Country

Top Origin (2019): China, $250M

Top Destination (2019): United States, $153M

Transformers electric, power capacity > 500 KVA, nes are the world's 1545th most traded product.

In 2019, the top exporters of Transformers electric, power capacity > 500 KVA, nes were China ($250M), Germany ($228M), Italy ($181M), South Korea ($80.7M), and Denmark ($70.1M).

In 2019, the top importers of Transformers electric, power capacity > 500 KVA, nes were United States ($153M), China ($66.5M), United Arab Emirates ($64.1M), Germany ($63.3M), and Belgium ($60.7M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Netherlands, $29.8M

Top Destination Growth (2018 - 2019): Belgium, $54M

Between 2018 and 2019, the exports of Transformers electric, power capacity > 500 KVA, nes grew the fastest in Netherlands ($29.8M), New Zealand ($21.7M), Mexico ($20.5M), Oman ($19.1M), and China ($13.2M).

Between 2018 and 2019, the fastest growing importers of Transformers electric, power capacity > 500 KVA, nes were Belgium ($54M), United States ($23.8M), Vietnam ($22.3M), Kazakhstan ($20.2M), and Kuwait ($16M).

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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 Transformers electric, power capacity > 500 KVA, nes.

In 2019,  market concentration measured using Shannon Entropy, was 4.53. This means that most of the exports of Transformers electric, power capacity > 500 KVA, nes are explained by 23 countries.

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TOP NET EXPORTER (2019): China, $184M

TOP NET IMPORTER (2019): United States, $104M

This map shows which countries export or import more of Transformers electric, power capacity > 500 KVA, nes. Each country is colored based on the difference in exports and imports of Transformers electric, power capacity > 500 KVA, nes during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Transformers electric, power capacity > 500 KVA, nes were China ($184M), Germany ($164M), Italy ($152M), South Korea ($63.4M), and Mexico ($35.6M).

In 2019, the countries that had a largest trade value in imports than in exports of Transformers electric, power capacity > 500 KVA, nes were United States ($104M), Vietnam ($55M), United Arab Emirates ($54.9M), Belgium ($48.3M), and Russia ($36.3M).

Import Tariffs

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In 2018, the average tariff for importing Transformers electric, power capacity > 500 KVA, nes was 7.27%.  The countries with the highest tariffs for importing Transformers electric, power capacity > 500 KVA, nes were Bahamas (40.2%), Iran (25%), Bermuda (25%), Bangladesh (24.5%), and Tunisia (20%).

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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.