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2022
Exports $4.88BWorld Rnk 3 / 226
Flag Rnk 45 / 96
2022
Destination $176M Canada
2021 - 2022
FASTEST GROWING MARKET $176MNetherlands
2022
PRODUCT COMPLEXITY IN Tools & cutlery1.7Rnk 24 / 1025
2022
Imports $12.5BWorld Rnk 1 / 225
Flag Rnk 38 / 96
2022
Origin $89.7M China
2021 - 2022
FASTEST GROWING ORIGIN $89.7MGermany
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $4.88B in Tools & cutlery, making it the 3rd largest exporter of Tools & cutlery in the world. At the same year, Tools & cutlery was the 45th most exported product in United States. The main destination of Tools & cutlery exports from United States are: Canada ($1.22B), Mexico ($835M), Netherlands ($272M), Germany ($268M), and China ($175M).

The fastest growing export markets for Tools & cutlery of United States between 2021 and 2022 were Netherlands ($176M), Canada ($169M), and Mexico ($35.2M).

Imports In 2022, United States imported $12.5B in Tools & cutlery, becoming the 1st largest importer of Tools & cutlery in the world. At the same year, Tools & cutlery was the 38th most imported product in United States. United States imports Tools & cutlery primarily from: China ($4.5B), Chinese Taipei ($1.38B), Germany ($1.06B), Japan ($792M), and Mexico ($740M).

The fastest growing import markets in Tools & cutlery for United States between 2021 and 2022 were Germany ($89.7M), Chinese Taipei ($88.8M), and Vietnam ($67.1M).

COMPANIES In 2023, leading companies such as Stanley Black & Decker (3.36k), CrimsonLogic (2.3k), and Apex Tool Group (911) were at the forefront of shipping Tools & cutlery to the United States.

Latest Trends

August 2024

About

Overview In August 2024 United States' Tools & cutlery exports accounted up to $405M and imports accounted up to $963M, resulting in a negative trade balance of $558M. Between August 2023 and August 2024 the exports of United States'   Tools & cutlery have decreased by $-28.7M (-6.61%) from $434M to $405M, while imports increased by $41.8M (4.53%) from $921M to $963M.

Destinations In August 2024, Tools & cutlery were exported mostly to Canada ($121M), Mexico ($83.5M), Germany ($20M), United Kingdom ($13.1M), and China ($12.4M), and were imported mostly from China ($281M), Chinese Taipei ($97.2M), Germany ($91.1M), South Korea ($62.1M), and Vietnam ($58.2M).

Growth In August 2024, the decrease in Tools & cutlery's year-by-year exports was explained primarily by a decrease in exports to Belgium ($-16.9M or -81.8%), Sweden ($-2.92M or -67.5%), and Russia ($-2.07M or -98.4%). In August 2024, the increase in Tools & cutlery's year-by-year imports was explained primarily by an increase in imports from Israel ($6.17M or 31.2%), South Korea ($5.22M or 17.3%), and India ($4.39M or 16.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-28.7M(-6.61%)
IMPORT GROWTH (August 2023 - August 2024)$41.8M(4.53%)
MAIN EXPORTER (August 2024)Texas$92.9M
MAIN DESTINATION (August 2024)Canada$121M

This section shows Tools & cutlery'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 Tools & cutlery over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$4.88B
IMPORTS (2022)$12.5B
NET TRADE (2022)-$7.63B

In 2022, United States exported $4.88B in Tools & cutlery. The main destinations of United States exports on Tools & cutlery were Canada ($1.22B), Mexico ($835M), Netherlands ($272M), Germany ($268M), and China ($175M).

In 2022, United States imported $12.5B in Tools & cutlery, mainly from China ($4.5B), Chinese Taipei ($1.38B), Germany ($1.06B), Japan ($792M), and Mexico ($740M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Tools & cutlery EXPORT MARKETS FOR United States WERE (2021 - 2022):
Netherlands$176M (183%)
Canada$169M (16.1%)
Mexico$35.2M (4.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Tools & cutlery BY United States WERE (2021 - 2022):
Belgium-$161M (-71.3%)
Russia-$25M (-79.7%)
Japan-$10.6M (-10.6%)
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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 Tools & cutlery were:
China $23.6B
Germany $9.45B
In 2022, United States's main importing competitors in Tools & cutlery were:
Germany $6.36B
Netherlands $3.05B

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Trade Value of Tools & cutlery by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $64.3M
TOP IMPORT POTENTIALCanada+ $154M

Tools & cutlery’s highest export potential is China. With an export gap of $64.3M.   Tools & cutlery’s highest import potential is Canada with an import gap of $154M.

See methodology.

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