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2022
Exports $53.4MWorld Rnk 4 / 184
Flag Rnk 856 / 1217
2022
Destination $2.78M Canada
2021 - 2022
FASTEST GROWING MARKET $2.78MDominican Republic
2022
PRODUCT COMPLEXITY IN Tool Sets0.9Rnk 208 / 1025
2022
Imports $150MWorld Rnk 2 / 218
Flag Rnk 806 / 1216
2022
Origin $10.2M China
2021 - 2022
FASTEST GROWING ORIGIN $10.2MChinese Taipei
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $53.4M in Tool Sets, making it the 4th largest exporter of Tool Sets in the world. At the same year, Tool Sets was the 856th most exported product in United States. The main destination of Tool Sets exports from United States are: Canada ($10M), Venezuela ($5.08M), Dominican Republic ($3.78M), Mexico ($3.7M), and United Kingdom ($2.87M).

The fastest growing export markets for Tool Sets of United States between 2021 and 2022 were Dominican Republic ($2.78M), Venezuela ($2.31M), and Vietnam ($778k).

Imports In 2022, United States imported $150M in Tool Sets, becoming the 2nd largest importer of Tool Sets in the world. At the same year, Tool Sets was the 806th most imported product in United States. United States imports Tool Sets primarily from: China ($57.3M), Chinese Taipei ($46M), Vietnam ($24.3M), Germany ($7.23M), and United Kingdom ($2.4M).

The fastest growing import markets in Tool Sets for United States between 2021 and 2022 were Chinese Taipei ($10.2M), Germany ($6.09M), and United Kingdom ($1.53M).

COMPANIES In 2023, leading companies such as IKEA Group (39), Robert Bosch (34), and Amazon (22) were at the forefront of shipping Tool Sets to the United States.

Latest Trends

October 2024

About

Overview In October 2024 United States' Tool Sets exports accounted up to $5.34M and imports accounted up to $10.4M, resulting in a negative trade balance of $5.02M. Between October 2023 and October 2024 the exports of United States'   Tool Sets have increased by $1.63M (43.9%) from $3.71M to $5.34M, while imports increased by $1.39M (15.6%) from $8.96M to $10.4M.

Destinations In October 2024, Tool Sets were exported mostly to Mexico ($782k), United Kingdom ($585k), Canada ($574k), Lithuania ($364k), and Serbia ($348k), and were imported mostly from China ($4.48M), Chinese Taipei ($4.31M), Vietnam ($968k), Germany ($242k), and South Korea ($149k).

Growth In October 2024, the increase in Tool Sets's year-by-year exports was explained primarily by an increase in exports to Hong Kong ($440k or 4.4k%), Mexico ($411k or 431%), and Venezuela ($259k or 69.3%). In October 2024, the increase in Tool Sets's year-by-year imports was explained primarily by an increase in imports from Vietnam ($213k or 92.1%) and South Korea ($11.3k or 16.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$1.63M(43.9%)
IMPORT GROWTH (October 2023 - October 2024)$1.39M(15.6%)
MAIN EXPORTER (October 2024)Illinois$1.54M
MAIN DESTINATION (October 2024)Mexico$782k

This section shows Tool Sets's exports and imports data at subnational level for United States. 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 Tool Sets over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$53.4M
IMPORTS (2022)$150M
NET TRADE (2022)-$96.6M

In 2022, United States exported $53.4M in Tool Sets. The main destinations of United States exports on Tool Sets were Canada ($10M), Venezuela ($5.08M), Dominican Republic ($3.78M), Mexico ($3.7M), and United Kingdom ($2.87M).

In 2022, United States imported $150M in Tool Sets, mainly from China ($57.3M), Chinese Taipei ($46M), Vietnam ($24.3M), Germany ($7.23M), and United Kingdom ($2.4M).

Explore Visualizations

Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Tool Sets EXPORT MARKETS FOR United States WERE (2021 - 2022):
Dominican Republic$2.78M (277%)
Venezuela$2.31M (83.2%)
Vietnam$778k (491%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Tool Sets BY United States WERE (2021 - 2022):
Saudi Arabia-$5.04M (-84.8%)
Israel-$3.2M (-96.7%)
United Kingdom-$842k (-22.7%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Tool Sets were:
China $777M
Chinese Taipei $222M
Germany $143M
In 2022, United States's main importing competitors in Tool Sets were:
Germany $157M
Netherlands $104M

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Trade Value of Tool Sets by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $920k
TOP IMPORT POTENTIALChina+ $3M

Tool Sets’s highest export potential is Germany. With an export gap of $920k.   Tool Sets’s highest import potential is China with an import gap of $3M.

See methodology.

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