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2023
Exports $205MWorld Rnk 4 / 196
Flag Rnk 562 / 1217
2023
Destination $4.99M Canada
2022 - 2023
FASTEST GROWING MARKET $4.99MCosta Rica
2023
PRODUCT COMPLEXITY IN Hand Tools0.76Rnk 262 / 1025
2023
Imports $479MWorld Rnk 1 / 220
Flag Rnk 531 / 1215
2023
Origin $1.9M China
2022 - 2023
FASTEST GROWING ORIGIN $1.9MMexico
2023
ECONOMIC COMPLEXITY of United States1.5Rnk 10 / 132

About

Exports In 2023, United States exported $205M in Hand Tools, making it the 4th largest exporter of Hand Tools in the world. At the same year, Hand Tools was the 562nd most exported product in United States. The main destination of Hand Tools exports from United States are: Canada ($46.1M), Germany ($22.9M), Mexico ($21M), Costa Rica ($14.4M), and United Kingdom ($13.4M).

The fastest growing export markets for Hand Tools of United States between 2022 and 2023 were Costa Rica ($4.99M), Canada ($4.02M), and Germany ($3.68M).

Imports In 2023, United States imported $479M in Hand Tools, becoming the 1st largest importer of Hand Tools in the world. At the same year, Hand Tools was the 531st most imported product in United States. United States imports Hand Tools primarily from: China ($184M), Chinese Taipei ($86.4M), Vietnam ($53.5M), Germany ($40.7M), and India ($17.6M).

The fastest growing import markets in Hand Tools for United States between 2022 and 2023 were Mexico ($1.9M), Vietnam ($1.46M), and Thailand ($742k).

COMPANIES In 2023, leading companies such as Stanley Black & Decker (369), Apex Tool Group (167), and Hilti Power Tools (144) were at the forefront of shipping Hand Tools to the United States.

Latest Trends

November 2024

About

Overview In November 2024 United States' Hand Tools exports accounted up to $14.8M and imports accounted up to $39.5M, resulting in a negative trade balance of $24.7M. Between November 2023 and November 2024 the exports of United States'   Hand Tools have decreased by $-794k (-5.1%) from $15.6M to $14.8M, while imports increased by $3.62M (10.1%) from $35.9M to $39.5M.

Destinations In November 2024, Hand Tools were exported mostly to Canada ($7.08M), Mexico ($1.64M), United Kingdom ($906k), Japan ($531k), and Germany ($443k), and were imported mostly from China ($12.6M), Vietnam ($7.02M), Chinese Taipei ($6.65M), Germany ($2.94M), and India ($2.25M).

Growth In November 2024, the decrease in Hand Tools's year-by-year exports was explained primarily by a decrease in exports to Costa Rica ($-1.06M or -65.5%), France ($-247k or -59.4%), and Japan ($-243k or -36.6%). In November 2024, the increase in Hand Tools's year-by-year imports was explained primarily by an increase in imports from Chinese Taipei ($1.53M or 23.8%), Italy ($546k or 235%), and Mexico ($379k or 76.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$-794k(-5.1%)
IMPORT GROWTH (November 2023 - November 2024)$3.62M(10.1%)
MAIN EXPORTER (November 2024)Illinois$3.39M
MAIN DESTINATION (November 2024)Canada$7.08M

This section shows Hand Tools's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Hand Tools over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$205M
IMPORTS (2023)$479M
NET TRADE (2023)-$273M

In 2023, United States exported $205M in Hand Tools. The main destinations of United States exports on Hand Tools were Canada ($46.1M), Germany ($22.9M), Mexico ($21M), Costa Rica ($14.4M), and United Kingdom ($13.4M).

In 2023, United States imported $479M in Hand Tools, mainly from China ($184M), Chinese Taipei ($86.4M), Vietnam ($53.5M), Germany ($40.7M), and India ($17.6M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Hand Tools EXPORT MARKETS FOR United States WERE (2022 - 2023):
Costa Rica$4.99M (52.7%)
Canada$4.02M (9.56%)
Germany$3.68M (19.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Hand Tools BY United States WERE (2022 - 2023):
Netherlands-$3.3M (-55.6%)
Australia-$1.7M (-16.2%)
Dominican Republic-$1.03M (-58.4%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, United States's main exporting competitors in Hand Tools were:
China $997M
Germany $448M
Chinese Taipei $235M
In 2023, United States's main importing competitors in Hand Tools were:
Germany $204M
France $135M

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Trade Value of Hand Tools by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $1.69M
TOP IMPORT POTENTIALIndia+ $7.82M

Hand Tools’s highest export potential is Germany. With an export gap of $1.69M.   Hand Tools’s highest import potential is India with an import gap of $7.82M.

See methodology.

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