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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)

2023
World Trade $3.81BRnk 613 / 1217
2023
Top Exporter | Top Importer $1.21B | $778MChina | United States
2023
Product Complexity 1.54Rnk 38 / 1044
2022 - 2023
Export Growth (CAGR) -6.27%Rnk 608 / 1217
2023
Share of World Trade 0.017%Rnk 613 / 1217

About

Overview This page contains the latest trade data of Wrenches. In 2023, Wrenches were the world's 613th most traded product, with a total trade of $3.81B. Between 2022 and 2023 the exports of Wrenches decreased by -6.27%, from $4.06B to $3.81B. 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 2023 the top exporters of Wrenches  were China ($1.21B), Chinese Taipei ($1.01B), Germany ($332M), United States ($246M), and India ($160M).

Imports In 2023 the top importers of Wrenches were United States ($778M), Germany ($289M), France ($156M), Canada ($142M), and United Kingdom ($136M).

Ranking Wrenches ranks 38th 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 (2023)China$1.21B
Top Destination (2023)United States$778M

In 2023 Wrenches were the world's 613th most traded product (out of 1,217).

In 2023, the top exporters of Wrenches were China ($1.21B), Chinese Taipei ($1.01B), Germany ($332M), United States ($246M), and India ($160M).

In 2023, the top importers of Wrenches were United States ($778M), Germany ($289M), France ($156M), Canada ($142M), and United Kingdom ($136M).

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Exporters of Wrenches (2023)
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Importers of Wrenches (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Germany$31.6M
Top Destination Growth (2022 -  2023)Russia$37M

Between 2022 and 2023, the exports of Wrenches grew the fastest in Germany ($31.6M), Trinidad and Tobago ($9.73M), Greece ($8.82M), France ($7.74M), and United States ($7.67M).

Between 2022 and 2023, the fastest growing importers of Wrenches were Russia ($37M), Canada ($10.5M), Guyana ($10.1M), Vietnam ($9.58M), and Saudi Arabia ($7.73M).

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Exporters of Wrenches (2022 - 2023)

Importers of Wrenches (2022 - 2023)

Market Concentration

Value

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

In 2023, market concentration measured using Shannon Entropy, was 3.33. This means that most of the exports of Wrenches are explained by 10 countries.

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Value of Exports in Wrenches

Net Trade

TOP NET EXPORTER (2023)China$1.11B
TOP NET IMPORTER (2023)United States$531M

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 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Wrenches were China ($1.11B), Chinese Taipei ($977M), India ($120M), Germany ($42.3M), and Czechia ($21.8M).

In 2023, the countries that had a largest trade value in imports than in exports of Wrenches were United States ($531M), Canada ($132M), Russia ($129M), France ($104M), and Mexico ($93.2M).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Wrenches, disaggragated by their HS6 level were Wrenches, hand-operated, with non-adjustable jaws ($1.7B), Wrench sockets, ratchet handles, extensions, spinners ($1.46B), and Wrenches, hand-operated, with adjustable jaws ($656M)

HS6 Disaggregation for Wrenches (2023)
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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

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALIndia+ $15M
TOP IMPORT POTENTIALIndia+ $3.33M

Wrenches’s highest export potential is India. With an export gap of $15M.  Wrenches’s highest import potential is India with an import gap of $3.33M.

See methodology.

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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)

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 (2023)

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