HS Icon Valves, check

848130 (Harmonized System 1992 for 6-digit)

World Trade (2018): $3.04B, Rnk 995 / 4726

Top Exporter (2018): $535M, United States

Top Importer (2018): $489M, United States

Product Complexity (2018): 1.17, Rnk 514 / 4873

Export Growth (CAGR)(2017 - 2018): 11.3%, Rnk 2477 / 4726

Mean Tariff (2018): 5.84%, Rnk 3664 / 6538

Share of World Trade (2018): 0.017%, Rnk 995 / 4726

Overview: In 2018, Valves, check were the world's 995th most traded product, with a total trade of $3.04B. Between 2017 and 2018 the exports of Valves, check grew by 11.3%, from  $2.74B to $3.04B. Trade in Valves, check represent 0.017% of total world trade.

Exports: In 2018 the top exporters of Valves, check  were United States ($535M), China ($514M), Germany ($441M), Japan ($161M), and Italy ($160M).

Imports: In 2018 the top importers of Valves, check were United States ($489M), China ($241M), Germany ($172M), Mexico ($151M), and Canada ($129M).

Tariffs: In 2018 the average tariff for Valves, check was 5.84%, been the 3664 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Valves, check are Bahamas (40.2%), Bermuda (25%), Cameroon (19.6%), Maldives (19.6%), and Lebanon (15.9%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Sri Lanka (0%).

Ranking: Valves, check ranks 514th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $535M

Top Destination (2018): United States, $489M

Valves, check are the world's 995th most traded product.

In 2018, the top exporters of Valves, check were United States ($535M), China ($514M), Germany ($441M), Japan ($161M), and Italy ($160M).

In 2018, the top importers of Valves, check were United States ($489M), China ($241M), Germany ($172M), Mexico ($151M), and Canada ($129M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $138M

Top Destination Growth (2017 - 2018): Canada, $91.7M

Between 2017 and 2018, the exports of Valves, check grew the fastest in United States ($138M), Germany ($73.3M), China ($44.4M), United Kingdom ($38.8M), and Norway ($25.4M).

Between 2017 and 2018, the fastest growing importers of Valves, check were Canada ($91.7M), United States ($78.6M), India ($23.1M), Brazil ($20M), and Germany ($17.7M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Valves, check.

In 2018,  market concentration measured using Shannon Entropy, was 4.21. This means that most of the exports of Valves, check are explained by 18 countries.

TOP NET EXPORTER (2018): China, $273M

TOP NET IMPORTER (2018): Mexico, $88.5M

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

In 2018, the countries that had a largest trade value in exports than imports of Valves, check were China ($273M), Germany ($269M), Italy ($104M), Japan ($94.7M), and United Kingdom ($47.2M).

In 2018, the countries that had a largest trade value in imports than exports of Valves, check were Mexico ($88.5M), Saudi Arabia ($76.4M), Canada ($64.6M), Russia ($52.2M), and Indonesia ($40.1M).

Trade Forecasts

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This section shows forecasts for total trade for Valves, check. 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 Valves, check was 5.84%.  The countries with the highest tariffs for importing Valves, check were Bahamas (40.2%), Bermuda (25%), Cameroon (19.6%), Maldives (19.6%), and Lebanon (15.9%).

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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.