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Pricing

Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars

8703 (Harmonized System 1992 for 4-digit)

2023
World Trade $976BRnk 2 / 1217
2023
Top Exporter | Top Importer $174B | $208BGermany | United States
2023
Product Complexity 0.72Rnk 281 / 1044
2022 - 2023
Export Growth (CAGR) 22.7%Rnk 49 / 1217
2023
Share of World Trade 4.32%Rnk 2 / 1217

About

Overview This page contains the latest trade data of Cars. In 2023, Cars were the world's 2nd most traded product, with a total trade of $976B. Between 2022 and 2023 the exports of Cars grew by 22.7%, from $795B to $976B. Trade in Cars represent 4.32% of total world trade.

Cars are a part of Cars, tractors, trucks & parts thereof.. They include Medium Sized Cars, Large Sized Cars, Medium Diesel Cars, Small Sized Cars, Other Vehicles Including Gas Turbine Powered , Large Diesel non chargeable Cars, Micro Cars, Small Diesel Cars, and Snowmobiles, golf cars, similar vehicles.

Exports In 2023 the top exporters of Cars  were Germany ($174B), Japan ($119B), China ($74.5B), United States ($65.3B), and South Korea ($64.8B).

Imports In 2023 the top importers of Cars were United States ($208B), Germany ($78.1B), United Kingdom ($55.5B), France ($45.7B), and China ($41.7B).

Ranking Cars ranks 281st in the Product Complexity Index (PCI).

Description Motor cars and other motor vehicles are used to transport people. They can be made from a variety of materials, including steel, aluminum, and plastic.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Cars. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

Explore Latest Trends

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)Germany$174B
Top Destination (2023)United States$208B

In 2023 Cars were the world's 2nd most traded product (out of 1,217).

In 2023, the top exporters of Cars were Germany ($174B), Japan ($119B), China ($74.5B), United States ($65.3B), and South Korea ($64.8B).

In 2023, the top importers of Cars were United States ($208B), Germany ($78.1B), United Kingdom ($55.5B), France ($45.7B), and China ($41.7B).

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Exporters of Cars (2023)
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Importers of Cars (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)China$34.8B
Top Destination Growth (2022 -  2023)United States$42.2B

Between 2022 and 2023, the exports of Cars grew the fastest in China ($34.8B), Germany ($26.7B), Japan ($23B), South Korea ($12.3B), and Mexico ($11.9B).

Between 2022 and 2023, the fastest growing importers of Cars were United States ($42.2B), United Kingdom ($12.2B), Italy ($10.8B), Turkey ($10.3B), and Germany ($8.6B).

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Exporters of Cars (2022 - 2023)

Importers of Cars (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Cars.

In 2023, market concentration measured using Shannon Entropy, was 4.32. This means that most of the exports of Cars are explained by 19 countries.

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Value of Exports in Cars

Net Trade

TOP NET EXPORTER (2023)Japan$106B
TOP NET IMPORTER (2023)United States$143B

This map shows which countries export or import more of Cars. Each country is colored based on the difference in exports and imports of Cars during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Cars were Japan ($106B), Germany ($96B), South Korea ($51.6B), Mexico ($47.4B), and China ($32.8B).

In 2023, the countries that had a largest trade value in imports than in exports of Cars were United States ($143B), Australia ($24.7B), United Kingdom ($20.2B), Saudi Arabia ($18.7B), and France ($18.5B).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Cars, disaggragated by their HS6 level were Other Vehicles Including Gas Turbine Powered... ($318B), Medium Sized Cars ($264B), Small Sized Cars ($137B), Large Sized Cars ($96.2B), and Medium Diesel Cars ($65.8B)

HS6 Disaggregation for Cars (2023)
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Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Cars.
It is possible to select the main countries that export or import Cars in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Cars by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALUnited States+ $4.31B
TOP IMPORT POTENTIALUnited States+ $850M

Cars’s highest export potential is United States. With an export gap of $4.31B.  Cars’s highest import potential is United States with an import gap of $850M.

See methodology.

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Product Complexity

Diversification Frontier

Specialization

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.

Relatedness vs Country Complexity (2023)

Related Products

This visualization shows products that are likely to be exported by countries that export Cars.

Country by Relatedness

The following visualization shows the relatedness of Cars to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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