HS Icon Cars

8703 (Harmonized System 1992 for 4-digit)

World Trade (2018): $782B, Rnk 2 / 1225

Top Exporter (2018): $156B, Germany

Top Importer (2018): $177B, United States

Product Complexity (2018): 0.78, Rnk 249 / 1018

Export Growth (CAGR)(2017 - 2018): 4.68%, Rnk 980 / 1225

Mean Tariff (2018): 18.5%, Rnk 1228 / 1259

Share of World Trade (2018): 4.25%, Rnk 2 / 1225

Overview: In 2018, Cars were the world's 2nd most traded product, with a total trade of $782B. Between 2017 and 2018 the exports of Cars grew by 4.68%, from  $747B to $782B. Trade in Cars represent 4.25% of total world trade.

Exports: In 2018 the top exporters of Cars  were Germany ($156B), Japan ($103B), United States ($51.4B), Mexico ($50.7B), and United Kingdom ($43.4B).

Imports: In 2018 the top importers of Cars were United States ($177B), Germany ($68.7B), United Kingdom ($48.5B), China ($45.2B), and France ($40.1B).

Tariffs: In 2018 the average tariff for Cars was 18.5%, been the 1228 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Cars are Maldives (111%), India (106%), Iran (90%), Thailand (71%), and Pakistan (70.7%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), Singapore (0%), and Switzerland (0%).

Ranking: Cars ranks 249th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Germany, $156B

Top Destination (2018): United States, $177B

Cars are the world's 2nd most traded product.

In 2018, the top exporters of Cars were Germany ($156B), Japan ($103B), United States ($51.4B), Mexico ($50.7B), and United Kingdom ($43.4B).

In 2018, the top importers of Cars were United States ($177B), Germany ($68.7B), United Kingdom ($48.5B), China ($45.2B), and France ($40.1B).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United Arab Emirates, $7.61B

Top Destination Growth (2017 - 2018): Germany, $8.69B

Between 2017 and 2018, the exports of Cars grew the fastest in United Arab Emirates ($7.61B), Belgium-Luxembourg ($6.19B), Slovakia ($5.81B), Mexico ($5.57B), and Austria ($3.52B).

Between 2017 and 2018, the fastest growing importers of Cars were Germany ($8.69B), France ($5.01B), United Kingdom ($2.95B), United Arab Emirates ($2.67B), and Russia ($2.5B).

Market Concentration

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Cumulative market share

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

In 2018,  market concentration measured using Shannon Entropy, was 4.29. This means that most of the exports of Cars are explained by 19 countries.

TOP NET EXPORTER (2018): Japan, $90.6B

TOP NET IMPORTER (2018): United States, $125B

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 2018.

In 2018, the countries that had a largest trade value in exports than imports of Cars were Japan ($90.6B), Germany ($87B), Mexico ($40.2B), South Korea ($27.4B), and Slovakia ($18.2B).

In 2018, the countries that had a largest trade value in imports than exports of Cars were United States ($125B), China ($36.4B), Australia ($17.8B), Italy ($15.2B), and France ($14.1B).

Trade Predictions

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This section shows predictions for total trade for Cars. The Prediction is based in a Long Short-Term Memory Model constructed using annual trade data.

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Import Tariffs

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In 2018, the average tariff for importing Cars was 18.5%.  The countries with the highest tariffs for importing Cars were Maldives (111%), India (106%), Iran (90%), Thailand (71%), and Pakistan (70.7%).

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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.