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Pricing

Navigational instruments and appliances; direction finding compasses

9014 (Harmonized System 1992 for 4-digit)

2023
World Trade $8.42BRnk 403 / 1217
2023
Top Exporter | Top Importer $2.48B | $1.55BUnited States | United States
2023
Product Complexity 1.22Rnk 100 / 1044
2022 - 2023
Export Growth (CAGR) 5.79%Rnk 234 / 1217
2023
Share of World Trade 0.037%Rnk 403 / 1217

About

Overview This page contains the latest trade data of Compasses. In 2023, Compasses were the world's 403rd most traded product, with a total trade of $8.42B. Between 2022 and 2023 the exports of Compasses grew by 5.79%, from $7.96B to $8.42B. Trade in Compasses represent 0.037% of total world trade.

Compasses are a part of Optical, photo, & film equipment; medical instruments. They include Aeronautical/Space Navigation Instruments (NES), Parts and accessories for navigational instruments, Navigational instruments and appliances nes, and Direction finding compasses.

Exports In 2023 the top exporters of Compasses  were United States ($2.48B), France ($1.21B), United Kingdom ($601M), Germany ($531M), and Chinese Taipei ($447M).

Imports In 2023 the top importers of Compasses were United States ($1.55B), France ($513M), United Kingdom ($503M), Canada ($466M), and Netherlands ($458M).

Ranking Compasses ranks 100th 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 (2023)United States$2.48B
Top Destination (2023)United States$1.55B

In 2023 Compasses were the world's 403rd most traded product (out of 1,217).

In 2023, the top exporters of Compasses were United States ($2.48B), France ($1.21B), United Kingdom ($601M), Germany ($531M), and Chinese Taipei ($447M).

In 2023, the top importers of Compasses were United States ($1.55B), France ($513M), United Kingdom ($503M), Canada ($466M), and Netherlands ($458M).

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Exporters of Compasses (2023)
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Importers of Compasses (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)France$138M
Top Destination Growth (2022 -  2023)United States$292M

Between 2022 and 2023, the exports of Compasses grew the fastest in France ($138M), Hong Kong ($74.2M), China ($57.6M), Germany ($52.3M), and Japan ($46.1M).

Between 2022 and 2023, the fastest growing importers of Compasses were United States ($292M), Singapore ($150M), Netherlands ($91.7M), China ($84.3M), and Ukraine ($61.9M).

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Exporters of Compasses (2022 - 2023)

Importers of Compasses (2022 - 2023)

Market Concentration

Value

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

In 2023, market concentration measured using Shannon Entropy, was 3.97. This means that most of the exports of Compasses are explained by 15 countries.

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Value of Exports in Compasses

Net Trade

TOP NET EXPORTER (2023)United States$929M
TOP NET IMPORTER (2023)Australia$265M

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 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Compasses were United States ($929M), France ($695M), Chinese Taipei ($388M), Japan ($204M), and Germany ($110M).

In 2023, the countries that had a largest trade value in imports than in exports of Compasses were Australia ($265M), Canada ($245M), Netherlands ($193M), Singapore ($183M), and South Korea ($171M).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Compasses, disaggragated by their HS6 level were Aeronautical/Space Navigation Instruments (NES) ($4.19B), Navigational instruments and appliances nes ($2.21B), Parts and accessories for navigational instruments ($1.75B), and Direction finding compasses ($278M)

HS6 Disaggregation for Compasses (2023)
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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 (2023)

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 (2023)

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