Overview:  This page contains the latest trade data of Thermostats. In 2019, Thermostats were the world's 100th most traded product, with a total trade of $35.9B. Between 2018 and 2019 the exports of Thermostats decreased by -4.83%, from $37.7B to $35.9B. Trade in Thermostats represent 0.2% of total world trade.

Exports: In 2019 the top exporters of Thermostats  were Germany ($6.59B), Japan ($4.07B), China ($3.95B), United States ($3.83B), and Mexico ($2.24B).

Imports: In 2019 the top importers of Thermostats were United States ($6.12B), Germany ($2.92B), China ($2.56B), France ($1.61B), and Japan ($1.41B).

Tariffs: In 2018 the average tariff for Thermostats was 4.93%, making it the 831st lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Thermostats are Bahamas (40.2%), Bermuda (25%), Ethiopia (22.9%), Maldives (19.6%), and Iran (17.6%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).

Ranking: Thermostats ranks 116th in the Product Complexity Index (PCI).

Description: Regulating or controlling instruments and apparatus are used to control the flow of a liquid, gas, or other substance. They can be made from a variety of materials, including plastic, metal, wood, and glass.

Historical Data

#permalink to section

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2019): Germany, $6.59B

Top Destination (2019): United States, $6.12B

Thermostats are the world's 100th most traded product.

In 2019, the top exporters of Thermostats were Germany ($6.59B), Japan ($4.07B), China ($3.95B), United States ($3.83B), and Mexico ($2.24B).

In 2019, the top importers of Thermostats were United States ($6.12B), Germany ($2.92B), China ($2.56B), France ($1.61B), and Japan ($1.41B).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2018 -  2019): United Kingdom, $368M

Top Destination Growth (2018 - 2019): Chinese Taipei, $147M

Between 2018 and 2019, the exports of Thermostats grew the fastest in United Kingdom ($368M), Chinese Taipei ($187M), Germany ($140M), Spain ($48.4M), and Hong Kong ($27.9M).

Between 2018 and 2019, the fastest growing importers of Thermostats were Chinese Taipei ($147M), Netherlands ($98.5M), France ($66.3M), Mozambique ($56.5M), and Russia ($51M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Thermostats.

In 2019,  market concentration measured using Shannon Entropy, was 4.35. This means that most of the exports of Thermostats are explained by 20 countries.

Explore Visualizations

TOP NET EXPORTER (2019): Germany, $3.67B

TOP NET IMPORTER (2019): United States, $2.29B

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

In 2019, the countries that had a largest trade value in exports than in imports of Thermostats were Germany ($3.67B), Japan ($2.66B), China ($1.39B), Mexico ($910M), and Hungary ($677M).

In 2019, the countries that had a largest trade value in imports than in exports of Thermostats were United States ($2.29B), Hong Kong ($542M), Thailand ($533M), Brazil ($448M), and India ($446M).

Disaggregation

#permalink to section
Value

In 2019, the world most traded Thermostats, disaggragated by their HS6 level were Automatic regulating/controlling equipment nes ($23.1B), Parts and accessories for automatic controls ($5.49B), Thermostats ($4.06B), Hydraulic and pneumatic automatic controls ($2.17B), and Manostats ($1.09B)

Import Tariffs

#permalink to section

In 2018, the average tariff for importing Thermostats was 4.93%. The countries with the highest tariffs for importing Thermostats were Bahamas (40.2%), Bermuda (25%), Ethiopia (22.9%), Maldives (19.6%), and Iran (17.6%).

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
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

#permalink to section

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