Wrenches8204 (Harmonized System 1992 for 4-digit)
2020 World Trade: $2.97B, Rnk 615 / 1217
2020 Top Exporter | Top Importer: $954M | $640M, China | United States
2020 Product Complexity: 1.62, Rnk 36 / 1028
2019 - 2020 Export Growth (CAGR): -7.04%, Rnk 599 / 1217
2018 Mean Tariff: 10.2%, Rnk 407 / 1259
2020 Share of World Trade: 0.018%, Rnk 615 / 1217
Overview This page contains the latest trade data of Wrenches. In 2020, Wrenches were the world's 615th most traded product, with a total trade of $2.97B. Between 2019 and 2020 the exports of Wrenches decreased by -7.04%, from $3.2B to $2.97B. Trade in Wrenches represent 0.018% 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 2020 the top exporters of Wrenches were China ($954M), Chinese Taipei ($766M), Germany ($295M), United States ($184M), and India ($132M).
Imports In 2020 the top importers of Wrenches were United States ($640M), Germany ($248M), China ($119M), France ($116M), and United Kingdom ($107M).
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 36th 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.
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.
Trade By Country
Top Origin (2020): China, $954M
Top Destination (2020): United States, $640M
Wrenches are the world's 615th most traded product.
In 2020, the top exporters of Wrenches were China ($954M), Chinese Taipei ($766M), Germany ($295M), United States ($184M), and India ($132M).
In 2020, the top importers of Wrenches were United States ($640M), Germany ($248M), China ($119M), France ($116M), and United Kingdom ($107M).
Trade by country
Between 2019 and 2020, the exports of Wrenches grew the fastest in Poland ($12.4M), Vietnam ($8.2M), Czechia ($5.41M), Mexico ($1.25M), and Denmark ($1.18M).
Between 2019 and 2020, the fastest growing importers of Wrenches were China ($22.1M), Germany ($6.88M), Vietnam ($5.44M), Chinese Taipei ($5.12M), and Iraq ($4.27M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Wrenches.
In 2020, market concentration measured using Shannon Entropy, was 3.32. This means that most of the exports of Wrenches are explained by 9 countries.
TOP NET EXPORTER (2020): China, $836M
TOP NET IMPORTER (2020): United States, $456M
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 2020.
In 2020, the countries that had a largest trade value in exports than in imports of Wrenches were China ($836M), Chinese Taipei ($728M), India ($105M), Germany ($47.7M), and Slovenia ($1.99M).
In 2020, the countries that had a largest trade value in imports than in exports of Wrenches were United States ($456M), Canada ($98.3M), France ($69.1M), United Kingdom ($60.8M), and Russia ($58.3M).
In 2020, the world most traded Wrenches, disaggragated by their HS6 level were Wrenches, hand-operated, with non-adjustable jaws ($1.33B), Wrench sockets, ratchet handles, extensions, spinners ($1.12B), and Wrenches, hand-operated, with adjustable jaws ($523M)
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.
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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