Overview:  This page contains the latest trade data of Compasses. In 2019, Compasses were the world's 336th most traded product, with a total trade of $9.14B. Between 2018 and 2019 the exports of Compasses grew by 8.42%, from $8.43B to $9.14B. Trade in Compasses represent 0.05% of total world trade.

Exports: In 2019 the top exporters of Compasses  were Germany ($1.86B), United States ($1.85B), France ($1.05B), United Kingdom ($970M), and Netherlands ($361M).

Imports: In 2019 the top importers of Compasses were United States ($1.62B), France ($641M), United Kingdom ($466M), Germany ($415M), and Canada ($374M).

Tariffs: In 2018 the average tariff for Compasses was 3.76%, making it the 1046th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Compasses are Bahamas (35.7%), Uzbekistan (28.7%), Bermuda (25%), Jordan (23.4%), and Maldives (19.6%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Compasses ranks 309th in the Product Complexity Index (PCI).

Description: Direction finding compasses are used to determine the direction of a person or object. They can be made from a variety of materials, including metal and plastic.

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): Germany, $1.86B

Top Destination (2019): United States, $1.62B

Compasses are the world's 336th most traded product.

In 2019, the top exporters of Compasses were Germany ($1.86B), United States ($1.85B), France ($1.05B), United Kingdom ($970M), and Netherlands ($361M).

In 2019, the top importers of Compasses were United States ($1.62B), France ($641M), United Kingdom ($466M), Germany ($415M), and Canada ($374M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): France, $262M

Top Destination Growth (2018 - 2019): France, $141M

Between 2018 and 2019, the exports of Compasses grew the fastest in France ($262M), United States ($120M), Chinese Taipei ($80.1M), Turkey ($61.7M), and Singapore ($44.3M).

Between 2018 and 2019, the fastest growing importers of Compasses were France ($141M), Turkey ($131M), Hong Kong ($111M), Singapore ($82.9M), and China ($56.2M).

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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 Compasses.

In 2019,  market concentration measured using Shannon Entropy, was 3.95. This means that most of the exports of Compasses are explained by 15 countries.

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TOP NET EXPORTER (2019): Germany, $1.45B

TOP NET IMPORTER (2019): South Korea, $279M

This map shows which countries export or import more of Compasses. Each country is colored based on the difference in exports and imports of Compasses during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Compasses were Germany ($1.45B), United Kingdom ($504M), France ($412M), United States ($229M), and Mexico ($123M).

In 2019, the countries that had a largest trade value in imports than in exports of Compasses were South Korea ($279M), Hong Kong ($213M), United Arab Emirates ($168M), Russia ($166M), and Turkey ($162M).

Disaggregation

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Value

In 2019, the world most traded Compasses, disaggragated by their HS6 level were Instruments nes for aeronautical/space navigation ($5.06B), Navigational instruments and appliances nes ($1.92B), Parts and accessories for navigational instruments ($1.9B), and Direction finding compasses ($253M)

Import Tariffs

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In 2018, the average tariff for importing Compasses was 3.76%. The countries with the highest tariffs for importing Compasses were Bahamas (35.7%), Uzbekistan (28.7%), Bermuda (25%), Jordan (23.4%), and Maldives (19.6%).

Product Complexity

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Diversification Frontier

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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.

Country by Relatedness

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