Thermostats9032 (Harmonized System 1992 for 4-digit)
2020 World Trade: $32.5B, Rnk 108 / 1217
2020 Top Exporter | Top Importer: $4.92B | $5.88B, United States | Germany
2020 Product Complexity: 1.15, Rnk 131 / 1028
2019 - 2020 Export Growth (CAGR): -9.87%, Rnk 723 / 1217
2018 Mean Tariff: 4.84%, Rnk 853 / 1259
2020 Share of World Trade: 0.19%, Rnk 108 / 1217
Overview This page contains the latest trade data of Thermostats. In 2020, Thermostats were the world's 108th most traded product, with a total trade of $32.5B. Between 2019 and 2020 the exports of Thermostats decreased by -9.87%, from $36.1B to $32.5B. Trade in Thermostats represent 0.19% of total world trade.
Thermostats are a part of Instruments and apparatus. They include Automatic regulating/controlling equipment nes, Parts and accessories for automatic controls, Thermostats, Hydraulic and pneumatic automatic controls, and Manostats.
Exports In 2020 the top exporters of Thermostats were Germany ($4.92B), Japan ($4.86B), China ($4.27B), United States ($3.16B), and Mexico ($2.09B).
Imports In 2020 the top importers of Thermostats were United States ($5.88B), China ($3.18B), Germany ($2.49B), Japan ($1.24B), and France ($1.2B).
Tariffs In 2018 the average tariff for Thermostats was 4.84%, making it the 853rd lowest tariff using the HS4 product classification.
The countries with the highest import tariffs for Thermostats are Bahamas (40.2%), Bermuda (25%), Ethiopia (22.9%), and Cayman Islands (22%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).
Ranking Thermostats ranks 131st in the Product Complexity Index (PCI).
Description Regulating or controlling instruments and apparatus are used to control the flow of a liquid, gas, or other substance. They can be made from a variety of materials, including plastic, metal, wood, and glass.
The following visualization shows the latest trends on Thermostats. 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): Germany, $4.92B
Top Destination (2020): United States, $5.88B
Thermostats are the world's 108th most traded product.
In 2020, the top exporters of Thermostats were Germany ($4.92B), Japan ($4.86B), China ($4.27B), United States ($3.16B), and Mexico ($2.09B).
In 2020, the top importers of Thermostats were United States ($5.88B), China ($3.18B), Germany ($2.49B), Japan ($1.24B), and France ($1.2B).
Trade by country
Between 2019 and 2020, the exports of Thermostats grew the fastest in Japan ($649M), China ($200M), Netherlands ($43M), Belgium ($25.9M), and United Arab Emirates ($17.4M).
Between 2019 and 2020, the fastest growing importers of Thermostats were China ($655M), Hong Kong ($336M), Vietnam ($27M), Nigeria ($20.3M), and Luxembourg ($14.5M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Thermostats.
In 2020, market concentration measured using Shannon Entropy, was 4.33. This means that most of the exports of Thermostats are explained by 20 countries.
TOP NET EXPORTER (2020): Japan, $3.62B
TOP NET IMPORTER (2020): United States, $2.72B
This map shows which countries export or import more of Thermostats. Each country is colored based on the difference in exports and imports of Thermostats during 2020.
In 2020, the countries that had a largest trade value in exports than in imports of Thermostats were Japan ($3.62B), Germany ($2.43B), China ($1.08B), Mexico ($1B), and Hungary ($476M).
In 2020, the countries that had a largest trade value in imports than in exports of Thermostats were United States ($2.72B), Hong Kong ($867M), Brazil ($545M), Thailand ($478M), and Turkey ($431M).
In 2019, the world most traded Thermostats, disaggragated by their HS6 level were Automatic regulating/controlling equipment nes ($19.6B), Parts and accessories for automatic controls ($6.05B), Thermostats ($3.96B), Hydraulic and pneumatic automatic controls ($1.93B), and Manostats ($1.01B)
This visualization shows the countries that have an important ratio of their trade related to Thermostats. It is possible to select the main countries that export or import Thermostats in the world, or by continent, as well as select the measure of interest.
In 2018, the average tariff for importing Thermostats was 4.84%. The countries with the highest tariffs for importing Thermostats were Bahamas (40.2%), Bermuda (25%), Ethiopia (22.9%), and Cayman Islands (22%).
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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