HS Icon Tool Sets

8206 (Harmonized System 1992 for 4-digit)

World Trade (2018): $1.22B, Rnk 864 / 1225

Top Exporter (2018): $544M, China

Top Importer (2018): $181M, United States

Export Growth (CAGR)(2017 - 2018): 15.6%, Rnk 490 / 1225

Mean Tariff (2018): 10.3%, Rnk 409 / 1259

Share of World Trade (2018): 0.0066%, Rnk 864 / 1225

Overview:  This page contains the latest trade data of Tool Sets. In 2018, Tool Sets were the world's 864th most traded product, with a total trade of $1.22B. Between 2017 and 2018 the exports of Tool Sets grew by 15.6%, from  $1.05B to $1.22B. Trade in Tool Sets represent 0.0066% of total world trade.

Exports: In 2018 the top exporters of Tool Sets  were China ($544M), Chinese Taipei ($147M), Germany ($123M), Netherlands ($44.1M), and United States ($28M).

Imports: In 2018 the top importers of Tool Sets were United States ($181M), Germany ($117M), France ($70.3M), Netherlands ($64.7M), and United Kingdom ($45.3M).

Tariffs: In 2018 the average tariff for Tool Sets was 10.3%, been the 409 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Tool Sets are Iran (40%), Ethiopia (29.7%), Algeria (29.1%), Pakistan (28.2%), and Bermuda (25%). The countries with the lowest tariffs are Angola (0%), Mauritius (0%), Hong Kong (0%), Japan (0%), and Sri Lanka (0%).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $544M

Top Destination (2018): United States, $181M

Tool Sets are the world's 864th most traded product.

In 2018, the top exporters of Tool Sets were China ($544M), Chinese Taipei ($147M), Germany ($123M), Netherlands ($44.1M), and United States ($28M).

In 2018, the top importers of Tool Sets were United States ($181M), Germany ($117M), France ($70.3M), Netherlands ($64.7M), and United Kingdom ($45.3M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): China, $116M

Top Destination Growth (2017 - 2018): United States, $60.9M

Between 2017 and 2018, the exports of Tool Sets grew the fastest in China ($116M), Thailand ($13.5M), Tanzania ($11.6M), Belgium-Luxembourg ($9.94M), and Poland ($7.43M).

Between 2017 and 2018, the fastest growing importers of Tool Sets were United States ($60.9M), Germany ($17.1M), France ($15.9M), Canada ($13M), and Poland ($12.6M).

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Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Tool Sets.

In 2018,  market concentration measured using Shannon Entropy, was 3.38. This means that most of the exports of Tool Sets are explained by 10 countries.

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TOP NET EXPORTER (2018): China, $531M

TOP NET IMPORTER (2018): United States, $153M

This map shows which countries export or import more of Tool Sets. Each country is colored based on the difference in exports and imports of Tool Sets during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Tool Sets were China ($531M), Chinese Taipei ($143M), South Korea ($11.7M), Tanzania ($10.7M), and Germany ($6.78M).

In 2018, the countries that had a largest trade value in imports than in exports of Tool Sets were United States ($153M), France ($45.2M), Russia ($32.6M), United Kingdom ($26.5M), and Netherlands ($20.6M).

Trade Forecasts

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

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Import Tariffs

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In 2018, the average tariff for importing Tool Sets was 10.3%.  The countries with the highest tariffs for importing Tool Sets were Iran (40%), Ethiopia (29.7%), Algeria (29.1%), Pakistan (28.2%), and Bermuda (25%).

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Product Complexity

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Diversification Frontier

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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.