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903110 (Harmonized System 1992 for 6-digit)

2023
World Trade $443MRnk 2981 / 4644
2023
Top Exporter | Top Importer $95.4M | $49.5MUnited States | China
2023
Product Complexity 1.37Rnk 264 / 4656
2022 - 2023
Export Growth (CAGR) -5.11%Rnk 2117 / 4644
2023
Share of World Trade 0.002%Rnk 2981 / 4644

About

Overview This page contains the latest trade data of Machines for balancing mechanical parts, nes. In 2023, Machines for balancing mechanical parts, nes were the world's 2981st most traded product, with a total trade of $443M. Between 2022 and 2023 the exports of Machines for balancing mechanical parts, nes decreased by -5.11%, from $467M to $443M. Trade in Machines for balancing mechanical parts, nes represent 0.002% of total world trade.

Machines for balancing mechanical parts, nes are a part of Other Measuring Instruments.

Exports In 2023 the top exporters of Machines for balancing mechanical parts, nes  were United States ($95.4M), Italy ($79.3M), China ($75.9M), Germany ($61.3M), and Japan ($34.1M).

Imports In 2023 the top importers of Machines for balancing mechanical parts, nes were China ($49.5M), United States ($40.2M), Germany ($31.1M), South Korea ($16.8M), and Canada ($16.5M).

Ranking Machines for balancing mechanical parts, nes ranks 264th in the Product Complexity Index (PCI).

Description Common uses for balancing machines include rotating parts to check for balance, stabilizing flywheels and rotating arms, and stabilizing rotating shafts.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Machines for balancing mechanical parts, nes. 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$95.4M
Top Destination (2023)China$49.5M

In 2023 Machines for balancing mechanical parts, nes were the world's 2981st most traded product (out of 4,644).

In 2023, the top exporters of Machines for balancing mechanical parts, nes were United States ($95.4M), Italy ($79.3M), China ($75.9M), Germany ($61.3M), and Japan ($34.1M).

In 2023, the top importers of Machines for balancing mechanical parts, nes were China ($49.5M), United States ($40.2M), Germany ($31.1M), South Korea ($16.8M), and Canada ($16.5M).

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Exporters of Machines for balancing mechanical parts, nes (2023)
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Importers of Machines for balancing mechanical parts, nes (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Thailand$4.94M
Top Destination Growth (2022 -  2023)United Kingdom$5.33M

Between 2022 and 2023, the exports of Machines for balancing mechanical parts, nes grew the fastest in Thailand ($4.94M), Germany ($3.25M), Israel ($2.65M), Philippines ($1.78M), and Switzerland ($889k).

Between 2022 and 2023, the fastest growing importers of Machines for balancing mechanical parts, nes were United Kingdom ($5.33M), United States ($3.88M), Saudi Arabia ($3.62M), South Korea ($3.58M), and United Arab Emirates ($2.75M).

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Exporters of Machines for balancing mechanical parts, nes (2022 - 2023)

Importers of Machines for balancing mechanical parts, nes (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Machines for balancing mechanical parts, nes.

In 2023, market concentration measured using Shannon Entropy, was 3.58. This means that most of the exports of Machines for balancing mechanical parts, nes are explained by 11 countries.

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Value of Exports in Machines for balancing mechanical parts, nes

Net Trade

TOP NET EXPORTER (2023)Italy$71.1M
TOP NET IMPORTER (2023)Canada$14.9M

This map shows which countries export or import more of Machines for balancing mechanical parts, nes. Each country is colored based on the difference in exports and imports of Machines for balancing mechanical parts, nes during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Machines for balancing mechanical parts, nes were Italy ($71.1M), United States ($55.1M), Germany ($30.2M), China ($26.4M), and Japan ($24.3M).

In 2023, the countries that had a largest trade value in imports than in exports of Machines for balancing mechanical parts, nes were Canada ($14.9M), South Korea ($12.5M), Mexico ($11.8M), India ($10.5M), and Vietnam ($9.87M).

Net Trade (2023)

Country Comparison

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Ranking

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

Top 10 Exporters Countries of Machines for balancing mechanical parts, nes by percentage of total exports

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)

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