HS Icon Valves, pressure reducing

848110 (Harmonized System 1992 for 6-digit)

World Trade (2019): $3.15B, Rnk 946 / 4648

Top Exporter (2019): $447M, Germany

Top Importer (2019): $472M, United States

Product Complexity (2019): 0.84, Rnk 1022 / 4826

Export Growth (CAGR)(2018 - 2019): -2.48%, Rnk 2093 / 4648

Mean Tariff (2018): 6.56%, Rnk 3369 / 6538

Share of World Trade (2019): 0.017%, Rnk 946 / 4648

Overview:  This page contains the latest trade data of Valves, pressure reducing. In 2019, Valves, pressure reducing were the world's 946th most traded product, with a total trade of $3.15B. Between 2018 and 2019 the exports of Valves, pressure reducing decreased by -2.48%, from  $3.23B to $3.15B. Trade in Valves, pressure reducing represent 0.017% of total world trade.

Exports: In 2019 the top exporters of Valves, pressure reducing  were Germany ($447M), United States ($440M), Italy ($301M), China ($294M), and Mexico ($227M).

Imports: In 2019 the top importers of Valves, pressure reducing were United States ($472M), Germany ($248M), China ($234M), United Kingdom ($124M), and Canada ($115M).

Tariffs: In 2018 the average tariff for Valves, pressure reducing was 6.56%, making it the 3369th lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Valves, pressure reducing are Bahamas (40.2%), Iran (27.5%), Bermuda (25%), Cameroon (19.6%), and Gabon (19.6%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Sri Lanka (0%).

Ranking: Valves, pressure reducing ranks 1022nd in the Product Complexity Index (PCI).

Description: Valves can be used to control the flow of water and gas, or to regulate pressure. Pressure reducing valves are used to reduce the pressure of gas.

Exporters and Importers

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Trade By Country

Top Origin (2019): Germany, $447M

Top Destination (2019): United States, $472M

Valves, pressure reducing are the world's 946th most traded product.

In 2019, the top exporters of Valves, pressure reducing were Germany ($447M), United States ($440M), Italy ($301M), China ($294M), and Mexico ($227M).

In 2019, the top importers of Valves, pressure reducing were United States ($472M), Germany ($248M), China ($234M), United Kingdom ($124M), and Canada ($115M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): India, $25M

Top Destination Growth (2018 - 2019): Kuwait, $18.6M

Between 2018 and 2019, the exports of Valves, pressure reducing grew the fastest in India ($25M), Mexico ($21.3M), Qatar ($17.4M), Italy ($10.1M), and Republic of the Congo ($9.03M).

Between 2018 and 2019, the fastest growing importers of Valves, pressure reducing were Kuwait ($18.6M), Bangladesh ($13.8M), United States ($11.6M), India ($10.6M), and Nigeria ($9.23M).

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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 Valves, pressure reducing.

In 2019,  market concentration measured using Shannon Entropy, was 4.5. This means that most of the exports of Valves, pressure reducing are explained by 22 countries.

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TOP NET EXPORTER (2019): Italy, $232M

TOP NET IMPORTER (2019): Canada, $74.6M

This map shows which countries export or import more of Valves, pressure reducing. Each country is colored based on the difference in exports and imports of Valves, pressure reducing during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Valves, pressure reducing were Italy ($232M), Germany ($198M), Mexico ($154M), Denmark ($68.6M), and China ($60.4M).

In 2019, the countries that had a largest trade value in imports than in exports of Valves, pressure reducing were Canada ($74.6M), Kuwait ($39.5M), United Arab Emirates ($32.7M), Australia ($32.1M), and Russia ($31.7M).

Import Tariffs

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In 2018, the average tariff for importing Valves, pressure reducing was 6.56%.  The countries with the highest tariffs for importing Valves, pressure reducing were Bahamas (40.2%), Iran (27.5%), Bermuda (25%), Cameroon (19.6%), and Gabon (19.6%).

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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.