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2023
Exports $308MWorld Rnk 16 / 212
Flag Rnk 190 / 1216
2023
Destination $3.46M United States
2022 - 2023
FASTEST GROWING MARKET $3.46MUnited Arab Emirates
2023
PRODUCT COMPLEXITY IN Interchangeable Tool Parts1.77Rnk 16 / 1025
2023
Imports $499MWorld Rnk 12 / 223
Flag Rnk 243 / 1214
2023
Origin $16.3M China
2022 - 2023
FASTEST GROWING ORIGIN $16.3MIreland
2023
ECONOMIC COMPLEXITY of United Kingdom1.5Rnk 11 / 132

About

Exports In 2023, United Kingdom exported $308M in Interchangeable Tool Parts, making it the 16th largest exporter of Interchangeable Tool Parts in the world. At the same year, Interchangeable Tool Parts was the 190th most exported product in United Kingdom. The main destination of Interchangeable Tool Parts exports from United Kingdom are: United States ($50.3M), Germany ($37.6M), Ireland ($21.3M), Netherlands ($16.6M), and Saudi Arabia ($15.5M).

The fastest growing export markets for Interchangeable Tool Parts of United Kingdom between 2022 and 2023 were United Arab Emirates ($3.46M), Ireland ($1.79M), and United States ($1.65M).

Imports In 2023, United Kingdom imported $499M in Interchangeable Tool Parts, becoming the 12th largest importer of Interchangeable Tool Parts in the world. At the same year, Interchangeable Tool Parts was the 243rd most imported product in United Kingdom. United Kingdom imports Interchangeable Tool Parts primarily from: China ($134M), Germany ($106M), United States ($57.9M), Ireland ($28.6M), and Italy ($19M).

The fastest growing import markets in Interchangeable Tool Parts for United Kingdom between 2022 and 2023 were Ireland ($16.3M), Japan ($2.55M), and Switzerland ($2.52M).

COMPANIES In 2024, leading companies such as Dole Fresh Fruit (296) were at the forefront of shipping Interchangeable Tool Parts from United Kingdom to the United States.

Latest Trends

December 2024

About

Overview In December 2024 United Kingdom's Interchangeable Tool Parts exports accounted up to £19.9M and imports accounted up to £29.8M, resulting in a negative trade balance of £9.96M. Between December 2023 and December 2024 the exports of United Kingdom's   Interchangeable Tool Parts have increased by £1.69M (9.27%) from £18.2M to £19.9M, while imports increased by £3.04M (11.4%) from £26.8M to £29.8M.

Destinations In December 2024, Interchangeable Tool Parts were exported mostly to United States (£2.72M), Germany (£2.68M), Netherlands (£1.26M), Saudi Arabia (£1.15M), and Australia (£1.06M), and were imported mostly from China (£7.62M), United States (£6.09M), Germany (£4.52M), Netherlands (£1.82M), and France (£1.5M).

Growth In December 2024, the increase in Interchangeable Tool Parts's year-by-year exports was explained primarily by an increase in exports to Germany (£1.23M or 62.3%), United States (£505k or 21.2%), and India (£434k or 147%). In December 2024, the increase in Interchangeable Tool Parts's year-by-year imports was explained primarily by an increase in imports from Ireland (£2.35M or 399%), Germany (£1.86M or 26.2%), and Norway (£624k or 727%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)£1.69M(9.27%)
IMPORT GROWTH (December 2023 - December 2024)£3.04M(11.4%)
MAIN EXPORTER (December 2024)
MAIN DESTINATION (December 2024)United States£2.72M

This section shows Interchangeable Tool Parts's exports and imports data at subnational level for United Kingdom. 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 Interchangeable Tool Parts over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$308M
IMPORTS (2023)$499M
NET TRADE (2023)-$191M

In 2023, United Kingdom exported $308M in Interchangeable Tool Parts. The main destinations of United Kingdom exports on Interchangeable Tool Parts were United States ($50.3M), Germany ($37.6M), Ireland ($21.3M), Netherlands ($16.6M), and Saudi Arabia ($15.5M).

In 2023, United Kingdom imported $499M in Interchangeable Tool Parts, mainly from China ($134M), Germany ($106M), United States ($57.9M), Ireland ($28.6M), and Italy ($19M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Interchangeable Tool Parts EXPORT MARKETS FOR United Kingdom WERE (2022 - 2023):
United Arab Emirates$3.46M (53.4%)
Ireland$1.79M (9.17%)
United States$1.65M (3.39%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Interchangeable Tool Parts BY United Kingdom WERE (2022 - 2023):
Saudi Arabia-$21M (-57.6%)
Slovakia-$3.15M (-73.7%)
Australia-$2.3M (-35.7%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, United Kingdom's main exporting competitors in Interchangeable Tool Parts were:
China $4.99B
Germany $4.03B
United States $1.99B
In 2023, United Kingdom's main importing competitors in Interchangeable Tool Parts were:
United States $3.05B
Germany $2.21B
Mexico $1.66B

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Trade Value of Interchangeable Tool Parts by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $21.6M
TOP IMPORT POTENTIALGermany+ $27.9M

Interchangeable Tool Parts’s highest export potential is United States. With an export gap of $21.6M.   Interchangeable Tool Parts’s highest import potential is Germany with an import gap of $27.9M.

See methodology.

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