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Navigational instruments and appliances; direction finding compasses

9014 (Harmonized System 1992 for 4-digit)

2022
World Trade $7.51BRnk 451 / 1218
2022
Top Exporter | Top Importer $1.62B | $1.53BUnited States | United States
2022
Product Complexity 1.44Rnk 56 / 1033
2021 - 2022
Export Growth (CAGR) -1.59%Rnk 932 / 1218
2022
Share of World Trade 0.032%Rnk 451 / 1218

About

Overview This page contains the latest trade data of Compasses. In 2022, Compasses were the world's 451st most traded product, with a total trade of $7.51B. Between 2021 and 2022 the exports of Compasses decreased by -1.59%, from $7.63B to $7.51B. Trade in Compasses represent 0.032% of total world trade.

Compasses are a part of Optical, photo, & film equipment; medical instruments. They include Instruments nes for aeronautical/space navigation, Parts and accessories for navigational instruments, Navigational instruments and appliances nes, and Direction finding compasses.

Exports In 2022 the top exporters of Compasses  were United States ($1.62B), United Kingdom ($1.13B), France ($911M), Germany ($492M), and Netherlands ($380M).

Imports In 2022 the top importers of Compasses were United States ($1.53B), United Kingdom ($571M), France ($529M), Germany ($484M), and Canada ($273M).

Ranking Compasses ranks 56th in the Product Complexity Index (PCI).

Description Direction finding compasses are used to determine the direction of a person or object. They can be made from a variety of materials, including metal and plastic.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Compasses. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2022)United States$1.62B
Top Destination (2022)United States$1.53B

In 2022 Compasses were the world's 451st most traded product (out of 1,218).

In 2022, the top exporters of Compasses were United States ($1.62B), United Kingdom ($1.13B), France ($911M), Germany ($492M), and Netherlands ($380M).

In 2022, the top importers of Compasses were United States ($1.53B), United Kingdom ($571M), France ($529M), Germany ($484M), and Canada ($273M).

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Exporters of Compasses (2022)
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Importers of Compasses (2022)
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Market Dynamics

Color
Top Origin Growth (2021 -  2022)Italy$113M
Top Destination Growth (2021 -  2022)United Kingdom$137M

Between 2021 and 2022, the exports of Compasses grew the fastest in Italy ($113M), Netherlands ($62.1M), United Kingdom ($47M), Mexico ($44.5M), and United States ($41.7M).

Between 2021 and 2022, the fastest growing importers of Compasses were United Kingdom ($137M), United States ($96M), United Arab Emirates ($53M), Pakistan ($36M), and Malaysia ($27.1M).

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Exporters of Compasses (2021 - 2022)

Importers of Compasses (2021 - 2022)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Compasses.

In 2022, market concentration measured using Shannon Entropy, was 4.12. This means that most of the exports of Compasses are explained by 17 countries.

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Value of Exports in Compasses

Net Trade

TOP NET EXPORTER (2022)United Kingdom$556M
TOP NET IMPORTER (2022)South Korea$154M

This map shows which countries export or import more of Compasses. Each country is colored based on the difference in exports and imports of Compasses during 2022.

In 2022, the countries that had a largest trade value in exports than in imports of Compasses were United Kingdom ($556M), France ($382M), Chinese Taipei ($302M), Mexico ($144M), and Netherlands ($131M).

In 2022, the countries that had a largest trade value in imports than in exports of Compasses were South Korea ($154M), Australia ($151M), United Arab Emirates ($134M), China ($111M), and Turkey ($103M).

Net Trade (2022)

Disaggregation

Value

In 2022, the world most traded Compasses, disaggragated by their HS6 level were Instruments nes for aeronautical/space navigation ($3.51B), Navigational instruments and appliances nes ($2.17B), Parts and accessories for navigational instruments ($1.58B), and Direction finding compasses ($247M)

HS6 Disaggregation for Compasses (2022)
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Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Compasses.
It is possible to select the main countries that export or import Compasses in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Compasses by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALChina+ $9.5M
TOP IMPORT POTENTIALGermany+ $8.59M

Compasses’s highest export potential is China. With an export gap of $9.5M.  Compasses’s highest import potential is Germany with an import gap of $8.59M.

See methodology.

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Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2022)

Related Products

This visualization shows products that are likely to be exported by countries that export Compasses.

Country by Relatedness

The following visualization shows the relatedness of Compasses to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2022)

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