HS Icon Wrenches

Tools, hand; hand-operated spanners and wrenches (including torque meter wrenches but not including tap wrenches), interchangeable spanner sockets, with or without handles

8204 (Harmonized System 1992 for 4-digit)

Overview This page contains the latest trade data of Wrenches. In 2021, Wrenches were the world's 603rd most traded product, with a total trade of $3.85B. Between 2020 and 2021 the exports of Wrenches grew by 29.2%, from $2.98B to $3.85B. Trade in Wrenches represent 0.00018% of total world trade.

Wrenches are a part of Tools & cutlery. They include Wrenches, hand-operated, with non-adjustable jaws, Wrench sockets, ratchet handles, extensions, spinners, and Wrenches, hand-operated, with adjustable jaws.

Exports In 2021 the top exporters of Wrenches  were China ($1.28B), Chinese Taipei ($1B), Germany ($355M), United States ($212M), and India ($197M).

Imports In 2021 the top importers of Wrenches were United States ($842M), Germany ($322M), China ($161M), France ($149M), and United Kingdom ($133M).

Tariffs In 2018 the average tariff for Wrenches was 10.2%, making it the 407th lowest tariff using the HS4 product classification.

Ranking Wrenches ranks 32nd in the Product Complexity Index (PCI).

Description Hand-operated spanners and wrenches are used to tighten or loosen bolts, nuts, screws, etc. They can be made from a variety of materials, including steel, aluminum, brass, and plastic.

View
Flow
Y-AXIS SCALE

The following visualization shows the latest trends on Wrenches. 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.

Explore Latest Trends

Historical Data

#permalink to section

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2021): China, $1.28B

Top Destination (2021): United States, $842M

Wrenches are the world's 603rd most traded product.

In 2021, the top exporters of Wrenches were China ($1.28B), Chinese Taipei ($1B), Germany ($355M), United States ($212M), and India ($197M).

In 2021, the top importers of Wrenches were United States ($842M), Germany ($322M), China ($161M), France ($149M), and United Kingdom ($133M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Color

Top Origin Growth (2020 -  2021): China, $321M

Top Destination Growth (2020 -  2021): United States, $202M

Between 2020 and 2021, the exports of Wrenches grew the fastest in China ($321M), Chinese Taipei ($233M), India ($64.4M), Germany ($60.3M), and United States ($27.9M).

Between 2020 and 2021, the fastest growing importers of Wrenches were United States ($202M), Germany ($75.9M), China ($42.5M), France ($32.9M), and Russia ($27.3M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

Value

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

In 2021, market concentration measured using Shannon Entropy, was 3.27. This means that most of the exports of Wrenches are explained by 9 countries.

Explore Visualizations

TOP NET EXPORTER (2021): China, $1.11B

TOP NET IMPORTER (2021): United States, $630M

This map shows which countries export or import more of Wrenches. Each country is colored based on the difference in exports and imports of Wrenches during 2021.

In 2021, the countries that had a largest trade value in exports than in imports of Wrenches were China ($1.11B), Chinese Taipei ($948M), India ($159M), Germany ($33.3M), and Czechia ($2.16M).

In 2021, the countries that had a largest trade value in imports than in exports of Wrenches were United States ($630M), Canada ($111M), France ($91.6M), Russia ($82.8M), and United Kingdom ($76.9M).

Disaggregation

#permalink to section
Value

In 2021, the world most traded Wrenches, disaggragated by their HS6 level were Wrenches, hand-operated, with non-adjustable jaws ($1.74B), Wrench sockets, ratchet handles, extensions, spinners ($1.46B), and Wrenches, hand-operated, with adjustable jaws ($648M)

Country Comparison

#permalink to section
Flow
Measure
Ranking

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

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
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.

Country by Relatedness

#permalink to section

The following visualization shows the relatedness of Wrenches to countries. Higher relatedness values ‚Äč‚Äčindicate greater knowledge, which predicts a greater probability of exporting that product in the future.