InstrumentsXVIII (Harmonized System 1992 for Section)
2020 World Trade: $669B, Rnk 9 / 21
2020 Top Exporter | Top Importer: $98.4B | $101B, United States | United States
2020 Product Complexity: 1.28, Rnk 2 / 21
2019 - 2020 Export Growth (CAGR): -3.02%, Rnk 9 / 21
2018 Mean Tariff: 6.69%, Rnk 15 / 21
2020 Share of World Trade: 3.99%, Rnk 9 / 21
Overview This page contains the latest trade data of Instruments. In 2020, Instruments were the world's 9th most traded product, with a total trade of $669B. Between 2019 and 2020 the exports of Instruments decreased by -3.02%, from $690B to $669B. Trade in Instruments represent 3.99% of total world trade.
Instruments include Medical Instruments, LCDs, Orthopedic Appliances, Other Measuring Instruments, Chemical Analysis Instruments, Thermostats, Optical Fibers and optical fibre bundles, Oscilloscopes, Base Metal Watches, and X-Ray Equipment, among others.
Exports In 2020 the top exporters of Instruments were United States ($98.4B), China ($89.7B), Germany ($74.5B), Japan ($52.3B), and Netherlands ($41B).
Imports In 2020 the top importers of Instruments were United States ($101B), China ($87.6B), Germany ($44.8B), Japan ($30.4B), and South Korea ($29.5B).
Tariffs In 2018 the average tariff for Instruments was 6.69%, making it the 15th lowest tariff using the Section product classification.
Ranking Instruments ranks 2nd in the Product Complexity Index (PCI).
The following visualization shows the latest trends on Instruments. Countries are shown based on data availability.
For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.
* Using January 2020 exchange rates when trade data is reported in local currency.
Trade By Country
Top Origin (2020): United States, $98.4B
Top Destination (2020): United States, $101B
Instruments are the world's 9th most traded product.
In 2020, the top exporters of Instruments were United States ($98.4B), China ($89.7B), Germany ($74.5B), Japan ($52.3B), and Netherlands ($41B).
In 2020, the top importers of Instruments were United States ($101B), China ($87.6B), Germany ($44.8B), Japan ($30.4B), and South Korea ($29.5B).
Trade by country
Top Origin Growth (2019 - 2020): China, $6.31B
Top Destination Growth (2019 - 2020): South Korea, $5.15B
Between 2019 and 2020, the exports of Instruments grew the fastest in China ($6.31B), Netherlands ($1.67B), Chinese Taipei ($1.31B), Singapore ($1.02B), and Israel ($357M).
Between 2019 and 2020, the fastest growing importers of Instruments were South Korea ($5.15B), China ($3.94B), Vietnam ($683M), Hungary ($651M), and Russia ($358M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Instruments.
In 2020, market concentration measured using Shannon Entropy, was 4.48. This means that most of the exports of Instruments are explained by 22 countries.
This map shows which countries export or import more of Instruments. Each country is colored based on the difference in exports and imports of Instruments during 2020.
In 2020, the countries that had a largest trade value in exports than in imports of Instruments were Germany ($29.7B), Switzerland ($24.3B), Japan ($21.9B), Netherlands ($13.1B), and Ireland ($11B).
In 2020, the countries that had a largest trade value in imports than in exports of Instruments were Hong Kong ($20.7B), Russia ($7.41B), South Korea ($7.25B), Spain ($6.16B), and Vietnam ($6.03B).
In 2020, the world most traded Instruments, disaggragated by their HS6 level were Medical Instruments ($133B), Orthopedic Appliances ($56.8B), Photo Lab Equipment ($48.7B), Chemical Analysis Instruments ($48B), and LCDs ($46.9B)
This visualization shows the countries that have an important ratio of their trade related to Instruments. It is possible to select the main countries that export or import Instruments in the world, or by continent, as well as select the measure of interest.
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.
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