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Pricing

2022
Exports $129MWorld Rnk 10 / 159
Flag Rnk 351 / 1216
2022
Destination $8.2M United States
2021 - 2022
FASTEST GROWING MARKET $8.2MSaudi Arabia
2022
PRODUCT COMPLEXITY IN Electric Furnaces1.31Rnk 93 / 1025
2022
Imports $111MWorld Rnk 16 / 209
Flag Rnk 571 / 1214
2022
Origin $4.86M Italy
2021 - 2022
FASTEST GROWING ORIGIN $4.86MItaly
2022
ECONOMIC COMPLEXITY of United Kingdom1.42Rnk 12 / 133

About

Exports In 2022, United Kingdom exported $129M in Electric Furnaces, making it the 10th largest exporter of Electric Furnaces in the world. At the same year, Electric Furnaces was the 351st most exported product in United Kingdom. The main destination of Electric Furnaces exports from United Kingdom are: United States ($17.1M), Germany ($14.9M), Saudi Arabia ($9.89M), France ($7.86M), and China ($6.74M).

The fastest growing export markets for Electric Furnaces of United Kingdom between 2021 and 2022 were Saudi Arabia ($8.2M), France ($2.87M), and China ($2.4M).

Imports In 2022, United Kingdom imported $111M in Electric Furnaces, becoming the 16th largest importer of Electric Furnaces in the world. At the same year, Electric Furnaces was the 571st most imported product in United Kingdom. United Kingdom imports Electric Furnaces primarily from: Italy ($21.7M), Germany ($14.6M), United States ($14.3M), China ($12.9M), and Thailand ($6.14M).

The fastest growing import markets in Electric Furnaces for United Kingdom between 2021 and 2022 were Italy ($4.86M), Vietnam ($3.47M), and Thailand ($2.33M).

COMPANIES In 2023, leading companies such as J.C. Bamford (339), BOEING (3), and Tesla (2) were at the forefront of shipping Electric Furnaces from United Kingdom to the United States.

Latest Trends

August 2024

About

Overview In August 2024 United Kingdom's Electric Furnaces exports accounted up to £16.6M and imports accounted up to £13.1M, resulting in a positive trade balance of £3.55M. Between August 2023 and August 2024 the exports of United Kingdom's   Electric Furnaces have increased by £2.56M (18.2%) from £14M to £16.6M, while imports increased by £6.72M (106%) from £6.33M to £13.1M.

Destinations In August 2024, Electric Furnaces were exported mostly to United States (£6.46M), Mexico (£2.09M), Saudi Arabia (£1.71M), Germany (£754k), and Italy (£723k), and were imported mostly from United States (£5.21M), Germany (£4.39M), Italy (£869k), China (£623k), and Thailand (£415k).

Growth In August 2024, the increase in Electric Furnaces's year-by-year exports was explained primarily by an increase in exports to United States (£1.09M or 97.2%), Thailand (£865k or 1.66k%), and Czechia (£574k or 5.74k%). In August 2024, the increase in Electric Furnaces's year-by-year imports was explained primarily by an increase in imports from United States (£564k or 45.1%), Poland (£343k or 23.5k%), and Germany (£250k or 29.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)£2.56M(18.2%)
IMPORT GROWTH (August 2023 - August 2024)£6.72M(106%)
MAIN EXPORTER (August 2024)London Stansted Airport£11.8M
MAIN DESTINATION (August 2024)United States£6.46M

This section shows Electric Furnaces's exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Electric Furnaces over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$129M
IMPORTS (2022)$111M
NET TRADE (2022)$18.4M

In 2022, United Kingdom exported $129M in Electric Furnaces. The main destinations of United Kingdom exports on Electric Furnaces were United States ($17.1M), Germany ($14.9M), Saudi Arabia ($9.89M), France ($7.86M), and China ($6.74M).

In 2022, United Kingdom imported $111M in Electric Furnaces, mainly from Italy ($21.7M), Germany ($14.6M), United States ($14.3M), China ($12.9M), and Thailand ($6.14M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electric Furnaces EXPORT MARKETS FOR United Kingdom WERE (2021 - 2022):
Saudi Arabia$8.2M (486%)
France$2.87M (57.5%)
China$2.4M (55.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Furnaces BY United Kingdom WERE (2021 - 2022):
United States-$14.5M (-45.9%)
Italy-$3.07M (-47.3%)
Canada-$2.47M (-36.3%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United Kingdom's main exporting competitors in Electric Furnaces were:
China $1.22B
Germany $882M
Italy $722M
In 2022, United Kingdom's main importing competitors in Electric Furnaces were:
China $759M
United States $660M
Indonesia $306M

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Trade Value of Electric Furnaces by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $6.14M
TOP IMPORT POTENTIALGermany+ $7.33M

Electric Furnaces’s highest export potential is United States. With an export gap of $6.14M.   Electric Furnaces’s highest import potential is Germany with an import gap of $7.33M.

See methodology.

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