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850431 (Harmonized System 1992 for 6-digit)

2023
World Trade $5.37BRnk 674 / 4644
2023
Top Exporter | Top Importer $2.27B | $559MChina | United States
2023
Product Complexity -0.23Rnk 2885 / 4656
2022 - 2023
Export Growth (CAGR) -5.98%Rnk 2209 / 4644
2023
Share of World Trade 0.024%Rnk 674 / 4644

About

Overview This page contains the latest trade data of Transformers electric, power capacity < 1 KVA, nes. In 2023, Transformers electric, power capacity < 1 KVA, nes were the world's 674th most traded product, with a total trade of $5.37B. Between 2022 and 2023 the exports of Transformers electric, power capacity < 1 KVA, nes decreased by -5.98%, from $5.71B to $5.37B. Trade in Transformers electric, power capacity < 1 KVA, nes represent 0.024% of total world trade.

Transformers electric, power capacity < 1 KVA, nes are a part of Electrical Transformers.

Exports In 2023 the top exporters of Transformers electric, power capacity < 1 KVA, nes  were China ($2.27B), Germany ($427M), United States ($306M), Mexico ($201M), and Italy ($168M).

Imports In 2023 the top importers of Transformers electric, power capacity < 1 KVA, nes were United States ($559M), Hong Kong ($425M), Germany ($378M), Mexico ($322M), and Japan ($299M).

Ranking Transformers electric, power capacity < 1 KVA, nes ranks 2885th in the Product Complexity Index (PCI).

Description Electrical transformers are often used in homes and buildings to change the voltage of electricity. For example, a transformer may be connected to a 120-volt outlet, and the voltage may be changed to run an appliance that needs a 240-volt outlet. Transformers may also be used in a home to change the voltage of electricity going to a light fixture, from 120 volts to 12 volts.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Transformers electric, power capacity < 1 KVA, 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)China$2.27B
Top Destination (2023)United States$559M

In 2023 Transformers electric, power capacity < 1 KVA, nes were the world's 674th most traded product (out of 4,644).

In 2023, the top exporters of Transformers electric, power capacity < 1 KVA, nes were China ($2.27B), Germany ($427M), United States ($306M), Mexico ($201M), and Italy ($168M).

In 2023, the top importers of Transformers electric, power capacity < 1 KVA, nes were United States ($559M), Hong Kong ($425M), Germany ($378M), Mexico ($322M), and Japan ($299M).

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Exporters of Transformers electric, power capacity < 1 KVA, nes (2023)
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Importers of Transformers electric, power capacity < 1 KVA, nes (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)United States$55.9M
Top Destination Growth (2022 -  2023)Mexico$83M

Between 2022 and 2023, the exports of Transformers electric, power capacity < 1 KVA, nes grew the fastest in United States ($55.9M), Mexico ($27.1M), Germany ($26M), India ($25.2M), and Spain ($15.6M).

Between 2022 and 2023, the fastest growing importers of Transformers electric, power capacity < 1 KVA, nes were Mexico ($83M), Saudi Arabia ($25.5M), Canada ($22.8M), Belgium ($17.9M), and Spain ($14.2M).

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Exporters of Transformers electric, power capacity < 1 KVA, nes (2022 - 2023)

Importers of Transformers electric, power capacity < 1 KVA, nes (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Transformers electric, power capacity < 1 KVA, nes.

In 2023, market concentration measured using Shannon Entropy, was 3.86. This means that most of the exports of Transformers electric, power capacity < 1 KVA, nes are explained by 14 countries.

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Value of Exports in Transformers electric, power capacity < 1 KVA, nes

Net Trade

TOP NET EXPORTER (2023)China$2.1B
TOP NET IMPORTER (2023)Hong Kong$341M

This map shows which countries export or import more of Transformers electric, power capacity < 1 KVA, nes. Each country is colored based on the difference in exports and imports of Transformers electric, power capacity < 1 KVA, nes during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Transformers electric, power capacity < 1 KVA, nes were China ($2.1B), Germany ($49.1M), Bulgaria ($26M), Italy ($24.7M), and Turkey ($24.1M).

In 2023, the countries that had a largest trade value in imports than in exports of Transformers electric, power capacity < 1 KVA, nes were Hong Kong ($341M), United States ($253M), Japan ($213M), Thailand ($182M), and Mexico ($120M).

Net Trade (2023)

Country Comparison

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This visualization shows the countries that have an important ratio of their trade related to Transformers electric, power capacity < 1 KVA, nes.
It is possible to select the main countries that export or import Transformers electric, power capacity < 1 KVA, nes in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Transformers electric, power capacity < 1 KVA, 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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