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Pricing

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)

2022
World Trade $4.03BRnk 605 / 1218
2022
Top Exporter | Top Importer $1.41B | $923MChina | United States
2022
Product Complexity 1.71Rnk 19 / 1033
2021 - 2022
Export Growth (CAGR) 4.43%Rnk 639 / 1218
2022
Share of World Trade 0.017%Rnk 605 / 1218

About

Overview This page contains the latest trade data of Wrenches. In 2022, Wrenches were the world's 605th most traded product, with a total trade of $4.03B. Between 2021 and 2022 the exports of Wrenches grew by 4.43%, from $3.86B to $4.03B. Trade in Wrenches represent 0.017% 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 2022 the top exporters of Wrenches  were China ($1.41B), Chinese Taipei ($1.02B), Germany ($349M), United States ($247M), and India ($189M).

Imports In 2022 the top importers of Wrenches were United States ($923M), Germany ($325M), France ($152M), Canada ($138M), and United Kingdom ($126M).

Ranking Wrenches ranks 19th 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.

Latest Trends

Latest Data

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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.

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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 (2022)China$1.41B
Top Destination (2022)United States$923M

In 2022 Wrenches were the world's 605th most traded product (out of 1,218).

In 2022, the top exporters of Wrenches were China ($1.41B), Chinese Taipei ($1.02B), Germany ($349M), United States ($247M), and India ($189M).

In 2022, the top importers of Wrenches were United States ($923M), Germany ($325M), France ($152M), Canada ($138M), and United Kingdom ($126M).

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Exporters of Wrenches (2022)
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Importers of Wrenches (2022)
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Market Dynamics

Color
Top Origin Growth (2021 -  2022)China$128M
Top Destination Growth (2021 -  2022)United States$84.3M

Between 2021 and 2022, the exports of Wrenches grew the fastest in China ($128M), United States ($34.7M), Vietnam ($22.4M), Chinese Taipei ($14.6M), and United Arab Emirates ($11.6M).

Between 2021 and 2022, the fastest growing importers of Wrenches were United States ($84.3M), Australia ($22.3M), United Arab Emirates ($18.3M), Canada ($17M), and Mexico ($17M).

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Exporters of Wrenches (2021 - 2022)

Importers of Wrenches (2021 - 2022)

Market Concentration

Value

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

In 2022, market concentration measured using Shannon Entropy, was 3.23. This means that most of the exports of Wrenches are explained by 9 countries.

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Value of Exports in Wrenches

Net Trade

TOP NET EXPORTER (2022)China$1.29B
TOP NET IMPORTER (2022)United States$676M

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 2022.

In 2022, the countries that had a largest trade value in exports than in imports of Wrenches were China ($1.29B), Chinese Taipei ($972M), India ($145M), Germany ($23.5M), and Vietnam ($13.8M).

In 2022, the countries that had a largest trade value in imports than in exports of Wrenches were United States ($676M), Canada ($129M), France ($96.4M), Australia ($96M), and Russia ($90.5M).

Net Trade (2022)

Disaggregation

Value

In 2022, the world most traded Wrenches, disaggragated by their HS6 level were Wrenches, hand-operated, with non-adjustable jaws ($1.78B), Wrench sockets, ratchet handles, extensions, spinners ($1.55B), and Wrenches, hand-operated, with adjustable jaws ($705M)

HS6 Disaggregation for Wrenches (2022)
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Country Comparison

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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.

Top 10 Exporters Countries of Wrenches 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 (2022)

Related Products

This visualization shows products that are likely to be exported by countries that export Wrenches.

Country by Relatedness

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

Relative Relatedness by Country (2022)

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