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XVIII (Harmonized System 1992 for Section)

2022
World Trade $726BRnk 10 / 21
2022
Top Exporter | Top Importer $102B | $123BUnited States | United States
2022
Product Complexity 1.17Rnk 2 / 21
2021 - 2022
Export Growth (CAGR) -9.36%Rnk 21 / 21
2022
Share of World Trade 3.06%Rnk 10 / 21

About

Overview This page contains the latest trade data of Instruments. In 2022, Instruments were the world's 10th most traded product, with a total trade of $726B. Between 2021 and 2022 the exports of Instruments decreased by -9.36%, from $801B to $726B. Trade in Instruments represent 3.06% of total world trade.

Instruments include Optical, photo, & film equipment; medical instruments, Clocks, watches, & parts, and Musical instruments.

Exports In 2022 the top exporters of Instruments  were United States ($102B), China ($91.6B), Germany ($79.1B), Switzerland ($45.9B), and Japan ($43.6B).

Imports In 2022 the top importers of Instruments were United States ($123B), China ($74.1B), Germany ($49.9B), Netherlands ($35.9B), and Japan ($29.7B).

Ranking Instruments ranks 2nd in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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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.

Explore Latest Trends

* 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$102B
Top Destination (2022)United States$123B

In 2022 Instruments were the world's 10th most traded product (out of 21).

In 2022, the top exporters of Instruments were United States ($102B), China ($91.6B), Germany ($79.1B), Switzerland ($45.9B), and Japan ($43.6B).

In 2022, the top importers of Instruments were United States ($123B), China ($74.1B), Germany ($49.9B), Netherlands ($35.9B), and Japan ($29.7B).

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

Color
Top Origin Growth (2021 -  2022)Mexico$2.94B
Top Destination Growth (2021 -  2022)United States$4.59B

Between 2021 and 2022, the exports of Instruments grew the fastest in Mexico ($2.94B), Malaysia ($2.06B), Ireland ($1.34B), Switzerland ($1.12B), and Canada ($831M).

Between 2021 and 2022, the fastest growing importers of Instruments were United States ($4.59B), United Kingdom ($2.39B), Netherlands ($2.21B), Canada ($1.08B), and Kuwait ($728M).

Explore Visualizations

Exporters of Instruments (2021 - 2022)

Importers of Instruments (2021 - 2022)

Market Concentration

Value

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

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Value of Exports in Instruments

Net Trade

TOP NET EXPORTER (2022)Switzerland$32.8B
TOP NET IMPORTER (2022)United States$20.6B

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 2022.

In 2022, the countries that had a largest trade value in exports than in imports of Instruments were Switzerland ($32.8B), Germany ($29.3B), China ($17.6B), Japan ($13.9B), and Ireland ($13.7B).

In 2022, the countries that had a largest trade value in imports than in exports of Instruments were United States ($20.6B), Hong Kong ($14.8B), Chinese Taipei ($9.87B), Spain ($7.61B), and India ($7.41B).

Net Trade (2022)

Disaggregation

Value
Disaggregation

In 2022, the world most traded Instruments, disaggragated by their HS6 level were Optical, photo, & film equipment; medical... ($664B), Clocks, watches, & parts ($52.7B), and Musical instruments ($8.84B)

HS6 Disaggregation for Instruments (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 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.

Top 10 Exporters Countries of Instruments by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALUnited States+ $1.61B
TOP IMPORT POTENTIALChina+ $523M

Instruments’s highest export potential is United States. With an export gap of $1.61B.  Instruments’s highest import potential is China with an import gap of $523M.

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)

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