InstrumentsXVIII (Harmonized System 1992 for Section)
2019 World Trade: $696B, Rnk 8 / 21
2019 Top Exporter | Top Importer: $104B | $109B, United States | United States
2019 Product Complexity: 1.41, Rnk 2 / 21
2018 - 2019 Export Growth (CAGR): -0.76%, Rnk 7 / 21
2018 Mean Tariff: 6.69%, Rnk 15 / 21
2019 Share of World Trade: 3.84%, Rnk 8 / 21
Overview This page contains the latest trade data of Instruments. In 2019, Instruments were the world's 8th most traded product, with a total trade of $696B. Between 2018 and 2019 the exports of Instruments decreased by -0.76%, from $701B to $696B. Trade in Instruments represent 3.84% of total world trade.
Exports In 2019 the top exporters of Instruments were United States ($104B), China ($81.9B), Germany ($80.4B), Japan ($53.3B), and Switzerland ($40.1B).
Imports In 2019 the top importers of Instruments were United States ($109B), China ($84.2B), Germany ($46.3B), Japan ($31.9B), and Netherlands ($28.8B).
Tariffs In 2018 the average tariff for Instruments was 6.69%, making it the 15th 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 (2019): United States, $104B
Top Destination (2019): United States, $109B
Instruments are the world's 8th most traded product.
In 2019, the top exporters of Instruments were United States ($104B), China ($81.9B), Germany ($80.4B), Japan ($53.3B), and Switzerland ($40.1B).
In 2019, the top importers of Instruments were United States ($109B), China ($84.2B), Germany ($46.3B), Japan ($31.9B), and Netherlands ($28.8B).
Trade by country
Top Origin Growth (2018 - 2019): Netherlands, $2.22B
Top Destination Growth (2018 - 2019): Chinese Taipei, $7.72B
Between 2018 and 2019, the exports of Instruments grew the fastest in Netherlands ($2.22B), Mexico ($1.34B), Singapore ($1.03B), Malaysia ($992M), and Ireland ($858M).
Between 2018 and 2019, the fastest growing importers of Instruments were Chinese Taipei ($7.72B), United States ($6.02B), Russia ($612M), United Arab Emirates ($455M), and Macau ($454M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Instruments.
In 2019, 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 2019.
In 2019, the countries that had a largest trade value in exports than in imports of Instruments were Germany ($34.2B), Switzerland ($27.7B), Japan ($21.5B), Ireland ($13.1B), and Netherlands ($11B).
In 2019, the countries that had a largest trade value in imports than in exports of Instruments were Hong Kong ($21.9B), Chinese Taipei ($7.15B), India ($7.06B), Russia ($6.78B), and Spain ($6.72B).
In 2019, the world most traded Instruments, disaggragated by their HS6 level were Instruments, appliances for medical, etc science,... ($59.1B), Equipment for photographic laboratories nes ($42.4B), Optical devices, appliances and instruments, nes ($36.1B), Needles, catheters, cannulae etc, (medical) ($32.6B), and Measuring or checking equipment, nes ($23.3B)
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.