HS Icon Wheels including parts/accessories for motor vehicles

870870 (Harmonized System 1992 for 6-digit)

World Trade (2019): $19.1B, Rnk 145 / 4648

Top Exporter (2019): $5.5B, China

Top Importer (2019): $4.27B, United States

Product Complexity (2019): 0.85, Rnk 1009 / 4826

Export Growth (CAGR)(2018 - 2019): -8.41%, Rnk 3212 / 4648

Mean Tariff (2018): 7.89%, Rnk 2872 / 6538

Share of World Trade (2019): 0.11%, Rnk 145 / 4648

Overview:  This page contains the latest trade data of Wheels including parts/accessories for motor vehicles. In 2019, Wheels including parts/accessories for motor vehicles were the world's 145th most traded product, with a total trade of $19.1B. Between 2018 and 2019 the exports of Wheels including parts/accessories for motor vehicles decreased by -8.41%, from  $20.8B to $19.1B. Trade in Wheels including parts/accessories for motor vehicles represent 0.11% of total world trade.

Exports: In 2019 the top exporters of Wheels including parts/accessories for motor vehicles  were China ($5.5B), Germany ($2.52B), Mexico ($1.25B), United States ($1.09B), and Poland ($979M).

Imports: In 2019 the top importers of Wheels including parts/accessories for motor vehicles were United States ($4.27B), Germany ($2.22B), Japan ($1.26B), Canada ($1B), and Mexico ($879M).

Tariffs: In 2018 the average tariff for Wheels including parts/accessories for motor vehicles was 7.89%, making it the 2872nd lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Wheels including parts/accessories for motor vehicles are Maldives (41.5%), Pakistan (35%), Bermuda (35%), Cape Verde (30%), and Angola (30%). The countries with the lowest tariffs are Ghana (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Singapore (0%).

Ranking: Wheels including parts/accessories for motor vehicles ranks 1009th in the Product Complexity Index (PCI).

Description: Wheels are used to move items from one place to another. They are used in every motor vehicle and are necessary for movement. There are many different types of wheels, such as the inner wheel, which is part of a wheel, and the metal wheel, which is a part of an automobile.

Exporters and Importers

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Trade By Country

Top Origin (2019): China, $5.5B

Top Destination (2019): United States, $4.27B

Wheels including parts/accessories for motor vehicles are the world's 145th most traded product.

In 2019, the top exporters of Wheels including parts/accessories for motor vehicles were China ($5.5B), Germany ($2.52B), Mexico ($1.25B), United States ($1.09B), and Poland ($979M).

In 2019, the top importers of Wheels including parts/accessories for motor vehicles were United States ($4.27B), Germany ($2.22B), Japan ($1.26B), Canada ($1B), and Mexico ($879M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Turkey, $181M

Top Destination Growth (2018 - 2019): Chinese Taipei, $24.3M

Between 2018 and 2019, the exports of Wheels including parts/accessories for motor vehicles grew the fastest in Turkey ($181M), Mexico ($87.9M), Morocco ($34.1M), Vietnam ($23.9M), and Belarus ($16.5M).

Between 2018 and 2019, the fastest growing importers of Wheels including parts/accessories for motor vehicles were Chinese Taipei ($24.3M), South Korea ($21.9M), Hungary ($19.2M), Mexico ($16.1M), and Russia ($15.1M).

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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 Wheels including parts/accessories for motor vehicles.

In 2019,  market concentration measured using Shannon Entropy, was 4.03. This means that most of the exports of Wheels including parts/accessories for motor vehicles are explained by 16 countries.

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TOP NET EXPORTER (2019): China, $5.34B

TOP NET IMPORTER (2019): United States, $3.17B

This map shows which countries export or import more of Wheels including parts/accessories for motor vehicles. Each country is colored based on the difference in exports and imports of Wheels including parts/accessories for motor vehicles during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Wheels including parts/accessories for motor vehicles were China ($5.34B), Turkey ($797M), Poland ($727M), South Korea ($393M), and Mexico ($371M).

In 2019, the countries that had a largest trade value in imports than in exports of Wheels including parts/accessories for motor vehicles were United States ($3.17B), Japan ($895M), Canada ($860M), United Kingdom ($578M), and Russia ($534M).

Import Tariffs

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In 2018, the average tariff for importing Wheels including parts/accessories for motor vehicles was 7.89%.  The countries with the highest tariffs for importing Wheels including parts/accessories for motor vehicles were Maldives (41.5%), Pakistan (35%), Bermuda (35%), Cape Verde (30%), and Angola (30%).

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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.