HS Icon Wrenches

8204 (Harmonized System 1992 for 4-digit)

 2019
World Trade
: $3.18B, Rnk 619 / 1217

2019
Top Exporter | Top Importer
: $1.02B | $669M, China | United States

2019
Product Complexity
: 1.67, Rnk 22 / 961

2018 - 2019
Export Growth (CAGR)
: 0.00071%, Rnk 396 / 1217

2018
Mean Tariff
: 10.5%, Rnk 402 / 1259

 2019
Share of World Trade
: 0.018%, Rnk 619 / 1217

Overview:  This page contains the latest trade data of Wrenches. In 2019, Wrenches were the world's 619th most traded product, with a total trade of $3.18B. Between 2018 and 2019 the exports of Wrenches grew by 0.00071%, from  $3.18B to $3.18B. Trade in Wrenches represent 0.018% of total world trade.

Exports: In 2019 the top exporters of Wrenches  were China ($1.02B), Chinese Taipei ($766M), Germany ($304M), United States ($235M), and India ($144M).

Imports: In 2019 the top importers of Wrenches were United States ($669M), Germany ($228M), France ($147M), Canada ($127M), and United Kingdom ($117M).

Tariffs: In 2018 the average tariff for Wrenches was 10.5%, making it the 402nd lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Wrenches are Iran (50%), Algeria (26.6%), Bermuda (25%), Argentina (22.6%), and Bahamas (22.3%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), Sri Lanka (0%), and Singapore (0%).

Ranking: Wrenches ranks 22nd in the Product Complexity Index (PCI).

Description: Hand-operated spanners and wrenches are used to tighten or loosen bolts, nuts, screws, etc. They can be made from a variety of materials, including steel, aluminum, brass, and plastic.

Exporters and Importers

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Trade By Country

Top Origin (2019): China, $1.02B

Top Destination (2019): United States, $669M

Wrenches are the world's 619th most traded product.

In 2019, the top exporters of Wrenches were China ($1.02B), Chinese Taipei ($766M), Germany ($304M), United States ($235M), and India ($144M).

In 2019, the top importers of Wrenches were United States ($669M), Germany ($228M), France ($147M), Canada ($127M), and United Kingdom ($117M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Chinese Taipei, $18.9M

Top Destination Growth (2018 - 2019): United States, $38.7M

Between 2018 and 2019, the exports of Wrenches grew the fastest in Chinese Taipei ($18.9M), India ($3.92M), Belgium ($3.57M), China ($3.2M), and Czechia ($2.84M).

Between 2018 and 2019, the fastest growing importers of Wrenches were United States ($38.7M), Russia ($8.02M), Netherlands ($5.72M), Saudi Arabia ($5.25M), and Chinese Taipei ($5.03M).

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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 Wrenches.

In 2019,  market concentration measured using Shannon Entropy, was 3.38. This means that most of the exports of Wrenches are explained by 10 countries.

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TOP NET EXPORTER (2019): China, $918M

TOP NET IMPORTER (2019): United States, $433M

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

In 2019, the countries that had a largest trade value in exports than in imports of Wrenches were China ($918M), Chinese Taipei ($733M), India ($110M), Germany ($76.2M), and Slovenia ($3.54M).

In 2019, the countries that had a largest trade value in imports than in exports of Wrenches were United States ($433M), Canada ($116M), France ($93.8M), Russia ($68.8M), and United Kingdom ($64.3M).

Disaggregation

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Value

In 2019, the world most traded Wrenches, disaggragated by their HS6 level were Wrenches, hand-operated, with non-adjustable jaws ($1.45B), Wrench sockets, ratchet handles, extensions, spinners ($1.16B), and Wrenches, hand-operated, with adjustable jaws ($566M)

Import Tariffs

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In 2018, the average tariff for importing Wrenches was 10.5%.  The countries with the highest tariffs for importing Wrenches were Iran (50%), Algeria (26.6%), Bermuda (25%), Argentina (22.6%), and Bahamas (22.3%).

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Product Complexity

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Diversification Frontier

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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.