HS Icon Wrenches

8204 (Harmonized System 1992 for 4-digit)

World Trade (2018): $3.1B, Rnk 620 / 1225

Top Exporter (2018): $1.01B, China

Top Importer (2018): $627M, United States

Product Complexity (2018): 1.65, Rnk 27 / 1018

Export Growth (CAGR)(2017 - 2018): 10.3%, Rnk 759 / 1225

Mean Tariff (2018): 10.5%, Rnk 402 / 1259

Share of World Trade (2018): 0.017%, Rnk 620 / 1225

Overview:  This page contains the latest trade data of Wrenches. In 2018, Wrenches were the world's 620th most traded product, with a total trade of $3.1B. Between 2017 and 2018 the exports of Wrenches grew by 10.3%, from  $2.81B to $3.1B. Trade in Wrenches represent 0.017% of total world trade.

Exports: In 2018 the top exporters of Wrenches  were China ($1.01B), Chinese Taipei ($747M), Germany ($312M), United States ($176M), and India ($140M).

Imports: In 2018 the top importers of Wrenches were United States ($627M), Germany ($230M), France ($150M), United Kingdom ($116M), and China ($108M).

Tariffs: In 2018 the average tariff for Wrenches was 10.5%, been the 402 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Wrenches are Iran (50%), Algeria (26.6%), Bermuda (25%), Argentina (22.6%), and Bahamas (22.3%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), Sri Lanka (0%), and Singapore (0%).

Ranking: Wrenches ranks 27th in the Product Complexity Index (PCI).

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2018): China, $1.01B

Top Destination (2018): United States, $627M

Wrenches are the world's 620th most traded product.

In 2018, the top exporters of Wrenches were China ($1.01B), Chinese Taipei ($747M), Germany ($312M), United States ($176M), and India ($140M).

In 2018, the top importers of Wrenches were United States ($627M), Germany ($230M), France ($150M), United Kingdom ($116M), and China ($108M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2017 -  2018): China, $62.9M

Top Destination Growth (2017 - 2018): United States, $46.2M

Between 2017 and 2018, the exports of Wrenches grew the fastest in China ($62.9M), Germany ($43.5M), United States ($40.5M), Netherlands ($31M), and Belgium-Luxembourg ($19M).

Between 2017 and 2018, the fastest growing importers of Wrenches were United States ($46.2M), Brazil ($26.6M), Poland ($14.5M), Canada ($13.7M), and Sweden ($12.4M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

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

In 2018,  market concentration measured using Shannon Entropy, was 3.37. This means that most of the exports of Wrenches are explained by 10 countries.

Explore Visualizations

TOP NET EXPORTER (2018): China, $905M

TOP NET IMPORTER (2018): United States, $451M

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 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Wrenches were China ($905M), Chinese Taipei ($718M), India ($105M), Germany ($82.3M), and Slovenia ($4.42M).

In 2018, the countries that had a largest trade value in imports than in exports of Wrenches were United States ($451M), France ($97.1M), Australia ($62.8M), United Kingdom ($62.3M), and Russia ($59.2M).

Trade Forecasts

#permalink to section

This section shows forecasts for total trade for Wrenches. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

Explore Forecasts

Import Tariffs

#permalink to section

In 2018, the average tariff for importing Wrenches was 10.5%.  The countries with the highest tariffs for importing Wrenches were Iran (50%), Algeria (26.6%), Bermuda (25%), Argentina (22.6%), and Bahamas (22.3%).

Explore Tariff Data

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
Filter

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.