HS Icon Valves

8481 (Harmonized System 1992 for 4-digit)

World Trade (2019): $93.3B, Rnk 28 / 1217

Top Exporter (2019): $16.5B, China

Top Importer (2019): $14.5B, United States

Product Complexity (2019): 1.43, Rnk 55 / 961

Export Growth (CAGR)(2018 - 2019): -1.48%, Rnk 511 / 1217

Mean Tariff (2018): 6.27%, Rnk 669 / 1259

Share of World Trade (2019): 0.52%, Rnk 28 / 1217

Overview:  This page contains the latest trade data of Valves. In 2019, Valves were the world's 28th most traded product, with a total trade of $93.3B. Between 2018 and 2019 the exports of Valves decreased by -1.48%, from  $94.7B to $93.3B. Trade in Valves represent 0.52% of total world trade.

Exports: In 2019 the top exporters of Valves  were China ($16.5B), Germany ($14.1B), United States ($12.2B), Italy ($8.21B), and Japan ($4.96B).

Imports: In 2019 the top importers of Valves were United States ($14.5B), China ($7.04B), Germany ($6.88B), France ($3.46B), and United Kingdom ($3.44B).

Tariffs: In 2018 the average tariff for Valves was 6.27%, making it the 669th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Valves are Bahamas (30%), Iran (27.7%), Bermuda (25%), Pakistan (21.6%), and Algeria (21.5%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Sri Lanka (0%).

Ranking: Valves ranks 55th in the Product Complexity Index (PCI).

Description: Taps, cocks, valves and similar appliances for pipes are used to control the flow of water or other liquids. They can be made from a variety of materials, including steel, brass, copper, and plastic.

Exporters and Importers

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Trade By Country

Top Origin (2019): China, $16.5B

Top Destination (2019): United States, $14.5B

Valves are the world's 28th most traded product.

In 2019, the top exporters of Valves were China ($16.5B), Germany ($14.1B), United States ($12.2B), Italy ($8.21B), and Japan ($4.96B).

In 2019, the top importers of Valves were United States ($14.5B), China ($7.04B), Germany ($6.88B), France ($3.46B), and United Kingdom ($3.44B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): United Kingdom, $236M

Top Destination Growth (2018 - 2019): Russia, $221M

Between 2018 and 2019, the exports of Valves grew the fastest in United Kingdom ($236M), India ($205M), Canada ($90.3M), Singapore ($85.8M), and France ($78.6M).

Between 2018 and 2019, the fastest growing importers of Valves were Russia ($221M), Norway ($184M), United Arab Emirates ($168M), Indonesia ($103M), and Kazakhstan ($102M).

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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.

In 2019,  market concentration measured using Shannon Entropy, was 4.31. This means that most of the exports of Valves are explained by 19 countries.

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TOP NET EXPORTER (2019): China, $9.44B

TOP NET IMPORTER (2019): United States, $2.32B

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

In 2019, the countries that had a largest trade value in exports than in imports of Valves were China ($9.44B), Germany ($7.19B), Italy ($5.98B), Japan ($2.69B), and Switzerland ($663M).

In 2019, the countries that had a largest trade value in imports than in exports of Valves were United States ($2.32B), Canada ($2.26B), Russia ($1.92B), Saudi Arabia ($1.48B), and Netherlands ($1.12B).

Disaggregation

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Value

In 2019, the world most traded Valves, disaggragated by their HS6 level were Taps, cocks, valves and similar appliances,... ($53.4B), Parts of taps, cocks, valves or... ($17.5B), Valves for oleohydraulic or pneumatic transmissions ($11.7B), Valves, safety or relief ($4.46B), and Valves, pressure reducing ($3.15B)

Import Tariffs

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In 2018, the average tariff for importing Valves was 6.27%.  The countries with the highest tariffs for importing Valves were Bahamas (30%), Iran (27.7%), Bermuda (25%), Pakistan (21.6%), and Algeria (21.5%).

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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.