{
  "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": "2026-08-28T10:23:54.128Z",
  "title": "HS4 8437 top trade corridors | Yugalinks",
  "description": "Explore reported HS4 8437 trade corridors: leading exporter-to-importer routes, value, growth, market share, access, tariffs, and distance context.",
  "canonical": "https://www.yugalinks.com/trade/sector/hs4/8437/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 8437",
      "url": "https://www.yugalinks.com/trade/sector/hs4/8437"
    },
    {
      "name": "Corridors",
      "url": "https://www.yugalinks.com/trade/sector/hs4/8437/corridors"
    }
  ],
  "hs4": "8437",
  "parentHs2": "84",
  "subsectorName": "Machines",
  "overview": {
    "hs4": "8437",
    "first_data_year": 1995,
    "latest_data_year": 2024,
    "years_with_data": 30,
    "latest_trade_usd": 2392823584.422537,
    "trade_avg_3y_usd": 2329967527.6330256,
    "trade_avg_5y_usd": 2251605916.354264,
    "trade_avg_10y_usd": 2219013306.3356733,
    "trade_cagr_3y_pct": 2.9837534484193684,
    "trade_cagr_5y_pct": 2.6668381840427857,
    "trade_cagr_10y_pct": -0.21475735911811178,
    "historical_peak_usd": 2444823455.644816,
    "historical_peak_year": 2014,
    "latest_below_peak_pct": 2.1269376773286988,
    "yoy_growth_latest_pct": 3.895907139359755,
    "positive_growth_year_share_pct": 68.96551724137932,
    "trend_acceleration_pct": 3.19851080753748,
    "trend_label": "Stable",
    "exporter_concentration_hhi": 1385.5133714124722,
    "importer_concentration_hhi": 264.5821317970311,
    "trade_volatility_cv": 0.3790465326854088,
    "active_corridor_count": 4168,
    "active_exporter_count": 167,
    "active_importer_count": 191,
    "active_hs6_count": 3,
    "refreshed_at": "2026-07-20 09:34:09"
  },
  "summary": {
    "latestTradeUsd": 2392823584.422537,
    "corridorsShown": 25,
    "displayedRouteValueUsd": 656902155.9070857,
    "topFiveSharePct": 10.590009830801579,
    "firstDataYear": 1995,
    "latestDataYear": 2024,
    "yearsWithData": 30,
    "leadingCorridor": {
      "rank": 1,
      "exporterIso3": "CHN",
      "importerIso3": "IND",
      "exporterName": "China",
      "importerName": "India",
      "value": 111722479.39470932,
      "cagr3": 4.904574464877731,
      "cagr5": 9.011573165250297,
      "cagr10": 8.24510157797851,
      "share": 4.669064619808629,
      "ftaKnown": true,
      "hasFta": false,
      "accessLabel": "No FTA reported",
      "appliedTariffPct": 0.5307908369111112,
      "mfnTariffPct": 0.5323102001373737,
      "preferentialTariffPct": 0.07929677931515151,
      "tariffAdvantagePp": 0.45301342082222223,
      "distanceKm": 4252,
      "historicalPeakUsd": 144782272.52353263,
      "historicalPeakYear": 2023,
      "latestBelowPeakPct": 22.834144369055842,
      "yearsWithData": 30,
      "trendLabel": "Growing"
    }
  },
  "indicators": {
    "tradeCagr3yPct": 2.9837534484193684,
    "tradeCagr5yPct": 2.6668381840427857,
    "tradeCagr10yPct": -0.21475735911811178,
    "latestYoyPct": 3.895907139359755,
    "trendLabel": "Stable",
    "historicalPeakUsd": 2444823455.644816,
    "historicalPeakYear": 2014,
    "latestBelowPeakPct": 2.1269376773286988,
    "exporterConcentrationHhi": 1385.5133714124722,
    "importerConcentrationHhi": 264.5821317970311,
    "tradeVolatilityCv": 0.3790465326854088,
    "yearsWithData": 30
  },
  "answer": "China to India leads the reported HS4 8437 routes with $111.7M in 2024 and +4.9% calculated three-year growth. The HS4 subsector recorded $2.4B in latest reported trade, with +3% calculated three-year growth.",
  "corridors": [
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      "rank": 1,
      "exporterIso3": "CHN",
      "importerIso3": "IND",
      "exporterName": "China",
      "importerName": "India",
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      "cagr3": 4.904574464877731,
      "cagr5": 9.011573165250297,
      "cagr10": 8.24510157797851,
      "share": 4.669064619808629,
      "ftaKnown": true,
      "hasFta": false,
      "accessLabel": "No FTA reported",
      "appliedTariffPct": 0.5307908369111112,
      "mfnTariffPct": 0.5323102001373737,
      "preferentialTariffPct": 0.07929677931515151,
      "tariffAdvantagePp": 0.45301342082222223,
      "distanceKm": 4252,
      "historicalPeakUsd": 144782272.52353263,
      "historicalPeakYear": 2023,
      "latestBelowPeakPct": 22.834144369055842,
      "yearsWithData": 30,
      "trendLabel": "Growing"
    },
    {
      "rank": 2,
      "exporterIso3": "CHN",
      "importerIso3": "RUS",
      "exporterName": "China",
      "importerName": "Russia",
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      "cagr3": 71.04383952590933,
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      "cagr10": 28.163055013169892,
      "share": 2.064801363612582,
      "ftaKnown": true,
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      "accessLabel": "No FTA reported",
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      "preferentialTariffPct": 0.0692081698762452,
      "tariffAdvantagePp": 0.04504952727318008,
      "distanceKm": 6831,
      "historicalPeakUsd": 49407054,
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      "latestBelowPeakPct": 0,
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      "trendLabel": "Rapid growth"
    },
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      "exporterName": "China",
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      "exporterName": "USA, Puerto Rico and US Virgin Islands",
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      "trendLabel": "Stable"
    },
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      "rank": 6,
      "exporterIso3": "CHN",
      "importerIso3": "VNM",
      "exporterName": "China",
      "importerName": "Viet Nam",
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    },
    {
      "rank": 7,
      "exporterIso3": "CHN",
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      "exporterName": "China",
      "importerName": "Indonesia",
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    },
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      "importerIso3": "USA",
      "exporterName": "Italy",
      "importerName": "USA, Puerto Rico and US Virgin Islands",
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      "rank": 10,
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      "exporterName": "Turkey",
      "importerName": "Uzbekistan",
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      "importerIso3": "ETH",
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    {
      "rank": 14,
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      "importerIso3": "DEU",
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    },
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      "rank": 15,
      "exporterIso3": "TUR",
      "importerIso3": "KAZ",
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      "preferentialTariffPct": 0.0791686050229885,
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      "trendLabel": "Rapid growth"
    },
    {
      "rank": 16,
      "exporterIso3": "DEU",
      "importerIso3": "RUS",
      "exporterName": "Germany",
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      "cagr3": 27.381323382768553,
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    },
    {
      "rank": 17,
      "exporterIso3": "CAN",
      "importerIso3": "USA",
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