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 Partswere 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.
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.
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).
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.
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).
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%).
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.