Interchangeable Tool Parts8207 (Harmonized System 1992 for 4-digit)
2020 World Trade: $20.4B, Rnk 177 / 1217
2020 Top Exporter | Top Importer: $3.78B | $2.9B, China | United States
2020 Product Complexity: 1.67, Rnk 29 / 1028
2019 - 2020 Export Growth (CAGR): -10.1%, Rnk 731 / 1217
2018 Mean Tariff: 6.27%, Rnk 678 / 1259
2020 Share of World Trade: 0.12%, Rnk 177 / 1217
Overview This page contains the latest trade data of Interchangeable Tool Parts. In 2020, Interchangeable Tool Parts were the world's 177th most traded product, with a total trade of $20.4B. Between 2019 and 2020 the exports of Interchangeable Tool Parts decreased by -10.1%, from $22.7B to $20.4B. Trade in Interchangeable Tool Parts represent 0.12% of total world trade.
Interchangeable Tool Parts are a part of Tools & cutlery. They include Tools for pressing, stamping or punching, Tools for drilling, other than for rock drilling, Screwdriver bits and other interchangeable tools, Rock drilling or earth boring tools except carbide, Tools for milling, Tools for tapping or threading, Dies for drawing or extruding metal, Rock drilling, boring heads of sintered metal, carbid, Tools for turning, and Tools for boring or broaching, among others.
Exports In 2020 the top exporters of Interchangeable Tool Parts were China ($3.78B), Germany ($3.62B), Japan ($1.83B), United States ($1.57B), and South Korea ($1.54B).
Imports In 2020 the top importers of Interchangeable Tool Parts were United States ($2.9B), Germany ($2.12B), China ($1.2B), Mexico ($901M), and France ($731M).
Tariffs In 2018 the average tariff for Interchangeable Tool Parts was 6.27%, making it the 678th lowest tariff using the HS4 product classification.
Ranking Interchangeable Tool Parts ranks 29th in the Product Complexity Index (PCI).
Description Tools are used to make other goods. They can be made from a variety of materials, including steel, aluminum, and plastic.
The following visualization shows the latest trends on Interchangeable Tool Parts. 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): China, $3.78B
Top Destination (2020): United States, $2.9B
Interchangeable Tool Parts are the world's 177th most traded product.
In 2020, the top exporters of Interchangeable Tool Parts were China ($3.78B), Germany ($3.62B), Japan ($1.83B), United States ($1.57B), and South Korea ($1.54B).
In 2020, the top importers of Interchangeable Tool Parts were United States ($2.9B), Germany ($2.12B), China ($1.2B), Mexico ($901M), and France ($731M).
Trade by country
Top Origin Growth (2019 - 2020): Thailand, $52.5M
Top Destination Growth (2019 - 2020): Russia, $44.6M
Between 2019 and 2020, the exports of Interchangeable Tool Parts grew the fastest in Thailand ($52.5M), Chinese Taipei ($34M), Netherlands ($19.6M), Hong Kong ($14.7M), and Poland ($10.4M).
Between 2019 and 2020, the fastest growing importers of Interchangeable Tool Parts were Russia ($44.6M), South Africa ($33.7M), Poland ($25.2M), Slovakia ($19.2M), and Vietnam ($13.3M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Interchangeable Tool Parts.
In 2020, market concentration measured using Shannon Entropy, was 4.26. This means that most of the exports of Interchangeable Tool Parts are explained by 19 countries.
TOP NET EXPORTER (2020): China, $2.58B
TOP NET IMPORTER (2020): United States, $1.33B
This map shows which countries export or import more of Interchangeable Tool Parts. Each country is colored based on the difference in exports and imports of Interchangeable Tool Parts during 2020.
In 2020, the countries that had a largest trade value in exports than in imports of Interchangeable Tool Parts were China ($2.58B), Germany ($1.51B), Japan ($1.24B), South Korea ($1.24B), and Chinese Taipei ($442M).
In 2020, the countries that had a largest trade value in imports than in exports of Interchangeable Tool Parts were United States ($1.33B), Mexico ($748M), Russia ($431M), France ($372M), and Poland ($365M).
In 2020, the world most traded Interchangeable Tool Parts, disaggragated by their HS6 level were Tools for pressing, stamping or punching ($6.13B), Tools for drilling, other than for... ($4.02B), Screwdriver bits and other interchangeable tools ($2.78B), Tools for milling ($2.36B), and Rock drilling or earth boring tools... ($1.79B)
This visualization shows the countries that have an important ratio of their trade related to Interchangeable Tool Parts. It is possible to select the main countries that export or import Interchangeable Tool Parts 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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