{
  "template": "T9",
  "canonicalTemplate": "TS-HS4-CORRIDOR-09-SUBSECTOR-TOP-CORRIDORS",
  "templateName": "HS4 Subsector Top Trade Corridors",
  "pageType": "HS4 subsector top trade corridors",
  "source": "api",
  "robots": "index, follow",
  "generatedAt": "2026-08-28T10:23:53.775Z",
  "title": "HS4 8431 top trade corridors | Yugalinks",
  "description": "Explore reported HS4 8431 trade corridors: leading exporter-to-importer routes, value, growth, market share, access, tariffs, and distance context.",
  "canonical": "https://www.yugalinks.com/trade/sector/hs4/8431/corridors",
  "publisher": {
    "name": "Yugalinks",
    "url": "https://www.yugalinks.com",
    "logo": "https://www.yugalinks.com/trade/yugalinks-logo-v3-dark-mode.webp",
    "linkedin": "https://in.linkedin.com/company/yugalinks",
    "sameAs": [
      "https://in.linkedin.com/company/yugalinks"
    ]
  },
  "branding": {
    "name": "Yugalinks",
    "url": "https://www.yugalinks.com",
    "logo": "https://www.yugalinks.com/trade/yugalinks-logo-v3-dark-mode.webp",
    "linkedin": "https://in.linkedin.com/company/yugalinks"
  },
  "sourceAttribution": {
    "publisher": "OECD",
    "dataset": "Balanced international merchandise trade statistics (BIMTS) - HS2017-6D",
    "year": 2025,
    "citation": "OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-08-28)",
    "sourceUrl": "https://data-explorer.oecd.org/",
    "dataflowUrl": "https://sdmx.oecd.org/sti-public/rest/dataflow/OECD.SDD.TPS/DSD_BIMTS_6D@DF_BIMTS_HS2017_6D/1.0",
    "termsUrl": "https://www.oecd.org/termsandconditions/",
    "terms": "OECD Terms & Conditions",
    "accessed": "2026-08-28",
    "supportingSources": [
      {
        "publisher": "CEPII",
        "dataset": "BACI bilateral trade flows",
        "release": "202601",
        "citation": "Gaulier, G. and Zignago, S. (2010), BACI: International Trade Database at the Product-Level. The 1994-2007 Version, CEPII Working Paper No. 2010-23.",
        "sourceUrl": "https://www.cepii.fr/DATA_DOWNLOAD/baci/doc/baci_webpage.html",
        "datasetUrl": "https://www.cepii.fr/CEPII/en/bdd_modele/bdd_modele_item.asp?id=37",
        "licenseUrl": "https://www.etalab.gouv.fr/wp-content/uploads/2018/11/open-licence.pdf",
        "license": "Etalab 2.0 Open Licence",
        "accessed": "2026-08-28"
      }
    ]
  },
  "breadcrumbs": [
    {
      "name": "Home",
      "url": "https://www.yugalinks.com/"
    },
    {
      "name": "HS4 8431",
      "url": "https://www.yugalinks.com/trade/sector/hs4/8431"
    },
    {
      "name": "Corridors",
      "url": "https://www.yugalinks.com/trade/sector/hs4/8431/corridors"
    }
  ],
  "hs4": "8431",
  "parentHs2": "84",
  "subsectorName": "Machinery",
  "overview": {
    "hs4": "8431",
    "first_data_year": 1995,
    "latest_data_year": 2024,
    "years_with_data": 30,
    "latest_trade_usd": 68467870454.27116,
    "trade_avg_3y_usd": 69599260010.41696,
    "trade_avg_5y_usd": 64167542031.64253,
    "trade_avg_10y_usd": 60046179428.005325,
    "trade_cagr_3y_pct": 3.4602489854897334,
    "trade_cagr_5y_pct": 2.8423839051558097,
    "trade_cagr_10y_pct": 0.18919977690661227,
    "historical_peak_usd": 73121845027.92967,
    "historical_peak_year": 2008,
    "latest_below_peak_pct": 6.364684277155316,
    "yoy_growth_latest_pct": -4.062799827987194,
    "positive_growth_year_share_pct": 75.86206896551724,
    "trend_acceleration_pct": 3.271049208583121,
    "trend_label": "Growing",
    "exporter_concentration_hhi": 853.149376511737,
    "importer_concentration_hhi": 690.4744864648809,
    "trade_volatility_cv": 0.40660657955870044,
    "active_corridor_count": 11578,
    "active_exporter_count": 200,
    "active_importer_count": 200,
    "active_hs6_count": 8,
    "refreshed_at": "2026-07-20 09:34:09"
  },
  "summary": {
    "latestTradeUsd": 68467870454.27116,
    "corridorsShown": 25,
    "displayedRouteValueUsd": 20423605325.849274,
    "topFiveSharePct": 12.355862791018815,
    "firstDataYear": 1995,
    "latestDataYear": 2024,
    "yearsWithData": 30,
    "leadingCorridor": {
      "rank": 1,
      "exporterIso3": "CHN",
      "importerIso3": "USA",
      "exporterName": "China",
      "importerName": "USA, Puerto Rico and US Virgin Islands",
      "value": 2016606619.4212615,
      "cagr3": 1.3058393280348524,
      "cagr5": 2.9367601492831907,
      "cagr10": 1.9588663847144083,
      "share": 2.9453327612520503,
      "ftaKnown": true,
      "hasFta": false,
      "accessLabel": "No FTA reported",
      "appliedTariffPct": 0.04674475463696969,
      "mfnTariffPct": 0.04674475463696969,
      "preferentialTariffPct": null,
      "tariffAdvantagePp": null,
      "distanceKm": 11883,
      "historicalPeakUsd": 2569354933.672029,
      "historicalPeakYear": 2022,
      "latestBelowPeakPct": 21.513116269257498,
      "yearsWithData": 30,
      "trendLabel": "Stable"
    }
  },
  "indicators": {
    "tradeCagr3yPct": 3.4602489854897334,
    "tradeCagr5yPct": 2.8423839051558097,
    "tradeCagr10yPct": 0.18919977690661227,
    "latestYoyPct": -4.062799827987194,
    "trendLabel": "Growing",
    "historicalPeakUsd": 73121845027.92967,
    "historicalPeakYear": 2008,
    "latestBelowPeakPct": 6.364684277155316,
    "exporterConcentrationHhi": 853.149376511737,
    "importerConcentrationHhi": 690.4744864648809,
    "tradeVolatilityCv": 0.40660657955870044,
    "yearsWithData": 30
  },
  "answer": "China to USA, Puerto Rico and US Virgin Islands leads the reported HS4 8431 routes with $2.0B in 2024 and +1.3% calculated three-year growth. The HS4 subsector recorded $68.5B in latest reported trade, with +3.5% calculated three-year growth.",
  "corridors": [
    {
      "rank": 1,
      "exporterIso3": "CHN",
      "importerIso3": "USA",
      "exporterName": "China",
      "importerName": "USA, Puerto Rico and US Virgin Islands",
      "value": 2016606619.4212615,
      "cagr3": 1.3058393280348524,
      "cagr5": 2.9367601492831907,
      "cagr10": 1.9588663847144083,
      "share": 2.9453327612520503,
      "ftaKnown": true,
      "hasFta": false,
      "accessLabel": "No FTA reported",
      "appliedTariffPct": 0.04674475463696969,
      "mfnTariffPct": 0.04674475463696969,
      "preferentialTariffPct": null,
      "tariffAdvantagePp": null,
      "distanceKm": 11883,
      "historicalPeakUsd": 2569354933.672029,
      "historicalPeakYear": 2022,
      "latestBelowPeakPct": 21.513116269257498,
      "yearsWithData": 30,
      "trendLabel": "Stable"
    },
    {
      "rank": 2,
      "exporterIso3": "MEX",
      "importerIso3": "USA",
      "exporterName": "Mexico",
      "importerName": "USA, Puerto Rico and US Virgin Islands",
      "value": 1848162316.0820537,
      "cagr3": 6.201223981348369,
      "cagr5": 5.69135920111703,
      "cagr10": 4.516307023639099,
      "share": 2.6993132747080524,
      "ftaKnown": true,
      "hasFta": true,
      "accessLabel": "FTA reported",
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      "mfnTariffPct": 0.0467447546369697,
      "preferentialTariffPct": 0.00839116261590505,
      "tariffAdvantagePp": 0.03835359202106465,
      "distanceKm": 3359,
      "historicalPeakUsd": 2007222102.2751932,
      "historicalPeakYear": 2023,
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      "trendLabel": "Growing"
    },
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      "rank": 3,
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      "importerIso3": "USA",
      "exporterName": "Canada",
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      "cagr10": 2.36613550775866,
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      "ftaKnown": true,
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      "ftaKnown": true,
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      "distanceKm": 556,
      "historicalPeakUsd": 1656496526.6997747,
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      "latestBelowPeakPct": 10.514508647349748,
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      "trendLabel": "Stable"
    },
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      "hasFta": false,
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      "trendLabel": "Declining"
    },
    {
      "rank": 6,
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      "importerIso3": "RUS",
      "exporterName": "China",
      "importerName": "Russia",
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      "cagr10": 16.38515330160919,
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      "ftaKnown": true,
      "hasFta": false,
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      "preferentialTariffPct": 0.0692081698762452,
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      "distanceKm": 6831,
      "historicalPeakUsd": 1013933279,
      "historicalPeakYear": 2024,
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      "trendLabel": "Rapid growth"
    },
    {
      "rank": 7,
      "exporterIso3": "ARE",
      "importerIso3": "SAU",
      "exporterName": "United Arab Emirates",
      "importerName": "Saudi Arabia",
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      "historicalPeakUsd": 923575094.5315201,
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      "trendLabel": "Rapid growth"
    },
    {
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      "trendLabel": "Rapid growth"
    },
    {
      "rank": 9,
      "exporterIso3": "CHN",
      "importerIso3": "IND",
      "exporterName": "China",
      "importerName": "India",
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    },
    {
      "rank": 10,
      "exporterIso3": "CHN",
      "importerIso3": "SAU",
      "exporterName": "China",
      "importerName": "Saudi Arabia",
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      "historicalPeakUsd": 665381867.1378685,
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    },
    {
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      "exporterIso3": "JPN",
      "importerIso3": "USA",
      "exporterName": "Japan",
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    },
    {
      "rank": 13,
      "exporterIso3": "CZE",
      "importerIso3": "DEU",
      "exporterName": "Czechia",
      "importerName": "Germany",
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      "tariffAdvantagePp": 0.016773889473301586,
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      "historicalPeakUsd": 808930976.336896,
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      "trendLabel": "Stable"
    },
    {
      "rank": 14,
      "exporterIso3": "POL",
      "importerIso3": "DEU",
      "exporterName": "Poland",
      "importerName": "Germany",
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      "cagr3": 2.272874128478386,
      "cagr5": 1.787118706021551,
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      "ftaKnown": true,
      "hasFta": true,
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      "tariffAdvantagePp": 0.03499577089308642,
      "distanceKm": 518,
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    },
    {
      "rank": 15,
      "exporterIso3": "KOR",
      "importerIso3": "USA",
      "exporterName": "Republic of Korea",
      "importerName": "USA, Puerto Rico and US Virgin Islands",
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      "cagr3": 5.087343406648648,
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      "ftaKnown": true,
      "hasFta": true,
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      "tariffAdvantagePp": 0.03830231714616161,
      "distanceKm": 11077,
      "historicalPeakUsd": 564656599.3403912,
      "historicalPeakYear": 2022,
      "latestBelowPeakPct": 4.698458719375139,
      "yearsWithData": 30,
      "trendLabel": "Growing"
    },
    {
      "rank": 16,
      "exporterIso3": "DEU",
      "importerIso3": "FRA",
      "exporterName": "Germany",
      "importerName": "France",
      "value": 535437933.7634491,
      "cagr3": -11.312130157053124,
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      "accessLabel": "FTA reported",
      "appliedTariffPct": 0,
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      "tariffAdvantagePp": 0,
      "distanceKm": 881,
      "historicalPeakUsd": 954318500.308003,
      "historicalPeakYear": 2011,
      "latestBelowPeakPct": 43.893162126623515,
      "yearsWithData": 30,
      "trendLabel": "Rapid decline"
    },
    {
      "rank": 17,
      "exporterIso3": "CHN",
      "importerIso3": "AUS",
      "exporterName": "China",
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