InstrumentsXVIII (Harmonized System 1992 for Section)
World Trade (2018): $682B, Rnk 8 / 21
Top Exporter (2018): $93.6B, United States
Top Importer (2018): $100B, United States
Product Complexity (2018): 1.19, Rnk 2 / 21
Export Growth (CAGR)(2017 - 2018): 11.9%, Rnk 10 / 21
Mean Tariff (2018): 6.69%, Rnk 15 / 21
Share of World Trade (2018): 3.71%, Rnk 8 / 21
Overview: This page contains the latest trade data of Instruments. In 2018, Instruments were the world's 8th most traded product, with a total trade of $682B. Between 2017 and 2018 the exports of Instruments grew by 11.9%, from $609B to $682B. Trade in Instruments represent 3.71% of total world trade.
Exports: In 2018 the top exporters of Instruments were United States ($93.6B), Germany ($81.8B), China ($81.4B), Japan ($56.2B), and Switzerland ($40.1B).
Imports: In 2018 the top importers of Instruments were United States ($100B), China ($87.8B), Germany ($46.5B), South Korea ($33.9B), and Japan ($33.8B).
Tariffs: In 2018 the average tariff for Instruments was 6.69%, been the 15 lowest tariff using the Section product classification.
The countries with the highest import tariffs for Instruments are Bahamas (24.1%), Bermuda (20.7%), Ethiopia (19.8%), Iran (17.6%), and Chad (17.5%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Singapore (0%), Switzerland (0%), and Norway (0%).
Ranking: Instruments ranks 2nd in the Product Complexity Index (PCI).
Trade By Country
Top Origin (2018): United States, $93.6B
Top Destination (2018): United States, $100B
Instruments are the world's 8th most traded product.
In 2018, the top exporters of Instruments were United States ($93.6B), Germany ($81.8B), China ($81.4B), Japan ($56.2B), and Switzerland ($40.1B).
In 2018, the top importers of Instruments were United States ($100B), China ($87.8B), Germany ($46.5B), South Korea ($33.9B), and Japan ($33.8B).
Trade by country
Top Origin Growth (2017 - 2018): Netherlands, $12.8B
Top Destination Growth (2017 - 2018): United States, $21.3B
Between 2017 and 2018, the exports of Instruments grew the fastest in Netherlands ($12.8B), Germany ($12.1B), United States ($8.81B), Mexico ($5.99B), and China ($4.23B).
Between 2017 and 2018, the fastest growing importers of Instruments were United States ($21.3B), Hong Kong ($5.7B), Netherlands ($4.25B), Chinese Taipei ($3.96B), and Germany ($3.67B).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Instruments.
In 2018, market concentration measured using Shannon Entropy, was 4.51. This means that most of the exports of Instruments are explained by 22 countries.
This map shows which countries export or import more of Instruments. Each country is colored based on the difference in exports and imports of Instruments during 2018.
In 2018, the countries that had a largest trade value in exports than in imports of Instruments were Germany ($35.3B), Switzerland ($27.5B), Japan ($22.4B), Ireland ($12.1B), and Netherlands ($8.95B).
In 2018, the countries that had a largest trade value in imports than in exports of Instruments were Hong Kong ($24B), India ($7.29B), United States ($6.92B), Spain ($6.8B), and China ($6.39B).
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.
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