HS Icon Valves, safety or relief

848140 (Harmonized System 1992 for 6-digit)

World Trade (2018): $4.45B, Rnk 711 / 4726

Top Exporter (2018): $893M, United States

Top Importer (2018): $627M, United States

Product Complexity (2018): 1.32, Rnk 359 / 4873

Export Growth (CAGR)(2017 - 2018): 13.6%, Rnk 2102 / 4726

Mean Tariff (2018): 5.52%, Rnk 3826 / 6538

Share of World Trade (2018): 0.024%, Rnk 711 / 4726

Overview: In 2018, Valves, safety or relief were the world's 711th most traded product, with a total trade of $4.45B. Between 2017 and 2018 the exports of Valves, safety or relief grew by 13.6%, from  $3.92B to $4.45B. Trade in Valves, safety or relief represent 0.024% of total world trade.

Exports: In 2018 the top exporters of Valves, safety or relief  were United States ($893M), Germany ($828M), Switzerland ($444M), Italy ($268M), and Japan ($256M).

Imports: In 2018 the top importers of Valves, safety or relief were United States ($627M), China ($382M), Germany ($304M), Canada ($178M), and United Kingdom ($174M).

Tariffs: In 2018 the average tariff for Valves, safety or relief was 5.52%, been the 3826 lowest tariff using the HS6 product classification.

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

Ranking: Valves, safety or relief ranks 359th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): United States, $893M

Top Destination (2018): United States, $627M

Valves, safety or relief are the world's 711th most traded product.

In 2018, the top exporters of Valves, safety or relief were United States ($893M), Germany ($828M), Switzerland ($444M), Italy ($268M), and Japan ($256M).

In 2018, the top importers of Valves, safety or relief were United States ($627M), China ($382M), Germany ($304M), Canada ($178M), and United Kingdom ($174M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $201M

Top Destination Growth (2017 - 2018): United States, $176M

Between 2017 and 2018, the exports of Valves, safety or relief grew the fastest in Germany ($201M), Switzerland ($189M), United States ($104M), Japan ($70.1M), and United Kingdom ($42.9M).

Between 2017 and 2018, the fastest growing importers of Valves, safety or relief were United States ($176M), United Kingdom ($62.3M), China ($31.4M), France ($28.1M), and Germany ($27.2M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Valves, safety or relief.

In 2018,  market concentration measured using Shannon Entropy, was 4.16. This means that most of the exports of Valves, safety or relief are explained by 17 countries.

TOP NET EXPORTER (2018): Germany, $523M

TOP NET IMPORTER (2018): China, $174M

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

In 2018, the countries that had a largest trade value in exports than imports of Valves, safety or relief were Germany ($523M), Switzerland ($408M), United States ($266M), Italy ($184M), and Japan ($120M).

In 2018, the countries that had a largest trade value in imports than exports of Valves, safety or relief were China ($174M), South Korea ($129M), Singapore ($100M), Canada ($80.8M), and Russia ($71.9M).

Trade Forecasts

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This section shows forecasts for total trade for Valves, safety or relief. 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, safety or relief was 5.52%.  The countries with the highest tariffs for importing Valves, safety or relief were Bahamas (40.2%), Bermuda (25%), Cameroon (19.6%), Gabon (19.6%), and Chad (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.