Overview: This page contains the latest trade data of Medical Instruments. In 2019, Medical Instruments were the world's 16th most traded product, with a total trade of $136B. Between 2018 and 2019 the exports of Medical Instruments grew by 5.22%, from $129B to $136B. Trade in Medical Instruments represent 0.75% of total world trade.
Tariffs: In 2018 the average tariff for Medical Instruments was 3.61%, making it the 1065th lowest tariff using the HS4 product classification.
The countries with the highest import tariffs for Medical Instruments are Bermuda (23.2%), Iran (15.2%), Aruba (12%), Cuba (10.1%), and Jamaica (10%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Madagascar (0%), Mauritius (0%), and Tanzania (0%).
Ranking: Medical Instruments ranks 299th in the Product Complexity Index (PCI).
Description: Instruments and appliances used in medical, surgical, dental or veterinary sciences are used to help diagnose diseases. They can be made from a variety of materials, including stainless steel, plastic, and glass.
Top Origin Growth (2018 - 2019): United States, $1.25B
Top Destination Growth (2018 - 2019): United States, $1.95B
Between 2018 and 2019, the exports of Medical Instruments grew the fastest in United States ($1.25B), Netherlands ($1B), Mexico ($896M), Germany ($720M), and China ($599M).
Between 2018 and 2019, the fastest growing importers of Medical Instruments were United States ($1.95B), China ($1B), Netherlands ($456M), Mexico ($377M), and Germany ($357M).
This chart shows the evolution of the market concentration of exports of Medical Instruments.
In 2019, market concentration measured using Shannon Entropy, was 4.33. This means that most of the exports of Medical Instruments are explained by 20 countries.
This map shows which countries export or import more of Medical Instruments. Each country is colored based on the difference in exports and imports of Medical Instruments during 2019.
In 2019, the countries that had a largest trade value in exports than in imports of Medical Instruments were Mexico ($8.28B), Germany ($5.73B), Ireland ($5.71B), Costa Rica ($2.57B), and Switzerland ($1.72B).
In 2019, the countries that had a largest trade value in imports than in exports of Medical Instruments were Spain ($1.94B), France ($1.93B), Australia ($1.88B), Russia ($1.87B), and Canada ($1.78B).
In 2018, the average tariff for importing Medical Instruments was 3.61%. The countries with the highest tariffs for importing Medical Instruments were Bermuda (23.2%), Iran (15.2%), Aruba (12%), Cuba (10.1%), and Jamaica (10%).
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.