HS Icon Vehicle Parts

8708 (Harmonized System 1992 for 4-digit)

World Trade (2019): $391B, Rnk 6 / 1217

Top Exporter (2019): $62.9B, Germany

Top Importer (2019): $71.6B, United States

Product Complexity (2019): 1.02, Rnk 148 / 961

Export Growth (CAGR)(2018 - 2019): -5.48%, Rnk 757 / 1217

Mean Tariff (2018): 8.36%, Rnk 518 / 1259

Share of World Trade (2019): 2.16%, Rnk 6 / 1217

Overview:  This page contains the latest trade data of Vehicle Parts. In 2019, Vehicle Parts were the world's 6th most traded product, with a total trade of $391B. Between 2018 and 2019 the exports of Vehicle Parts decreased by -5.48%, from  $414B to $391B. Trade in Vehicle Parts represent 2.16% of total world trade.

Exports: In 2019 the top exporters of Vehicle Parts  were Germany ($62.9B), United States ($41.2B), Japan ($33.2B), China ($33.1B), and Mexico ($31.2B).

Imports: In 2019 the top importers of Vehicle Parts were United States ($71.6B), Germany ($41.1B), Mexico ($27.2B), China ($22.9B), and Canada ($20.2B).

Tariffs: In 2018 the average tariff for Vehicle Parts was 8.36%, making it the 518th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Vehicle Parts are Maldives (41.5%), Pakistan (35%), Cape Verde (30%), Sri Lanka (28.1%), and Bermuda (28%). The countries with the lowest tariffs are Ghana (0%), Hong Kong (0%), Japan (0%), Singapore (0%), and Switzerland (0%).

Ranking: Vehicle Parts ranks 148th in the Product Complexity Index (PCI).

Description: Parts and accessories for tractors are used in the production of other goods. They can be made from a variety of materials, including steel, aluminum, and plastic.

Exporters and Importers

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Trade By Country

Top Origin (2019): Germany, $62.9B

Top Destination (2019): United States, $71.6B

Vehicle Parts are the world's 6th most traded product.

In 2019, the top exporters of Vehicle Parts were Germany ($62.9B), United States ($41.2B), Japan ($33.2B), China ($33.1B), and Mexico ($31.2B).

In 2019, the top importers of Vehicle Parts were United States ($71.6B), Germany ($41.1B), Mexico ($27.2B), China ($22.9B), and Canada ($20.2B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Mexico, $890M

Top Destination Growth (2018 - 2019): Slovakia, $430M

Between 2018 and 2019, the exports of Vehicle Parts grew the fastest in Mexico ($890M), Turkey ($304M), Malaysia ($131M), Vietnam ($107M), and Morocco ($91.8M).

Between 2018 and 2019, the fastest growing importers of Vehicle Parts were Slovakia ($430M), Hungary ($370M), Belgium ($368M), Vietnam ($319M), and Saudi Arabia ($209M).

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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 Vehicle Parts.

In 2019,  market concentration measured using Shannon Entropy, was 4.45. This means that most of the exports of Vehicle Parts are explained by 21 countries.

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TOP NET EXPORTER (2019): Japan, $24.8B

TOP NET IMPORTER (2019): United States, $30.4B

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

In 2019, the countries that had a largest trade value in exports than in imports of Vehicle Parts were Japan ($24.8B), Germany ($21.7B), South Korea ($14.7B), China ($10.2B), and Italy ($6.56B).

In 2019, the countries that had a largest trade value in imports than in exports of Vehicle Parts were United States ($30.4B), Canada ($9.34B), Russia ($7.59B), United Kingdom ($7.57B), and Brazil ($4.39B).

Disaggregation

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Value

In 2019, the world most traded Vehicle Parts, disaggragated by their HS6 level were Motor vehicle parts nes ($96.6B), Parts and accessories of bodies nes... ($71.8B), Transmissions for motor vehicles ($68.1B), Brake system parts except linings for... ($32B), and Drive axles with differential for motor... ($25.1B)

Import Tariffs

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In 2018, the average tariff for importing Vehicle Parts was 8.36%.  The countries with the highest tariffs for importing Vehicle Parts were Maldives (41.5%), Pakistan (35%), Cape Verde (30%), Sri Lanka (28.1%), and Bermuda (28%).

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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.