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2023
Exports $47.3MWorld Rnk 13 / 196
Flag Rnk 526 / 1216
2023
Destination $907k Germany
2022 - 2023
FASTEST GROWING MARKET $907kFrance
2023
PRODUCT COMPLEXITY IN Wrenches1.5Rnk 44 / 1025
2023
Imports $136MWorld Rnk 5 / 221
Flag Rnk 524 / 1214
2023
Origin $3.24M China
2022 - 2023
FASTEST GROWING ORIGIN $3.24MUnited States
2023
ECONOMIC COMPLEXITY of United Kingdom1.5Rnk 11 / 132

About

Exports In 2023, United Kingdom exported $47.3M in Wrenches, making it the 13th largest exporter of Wrenches in the world. At the same year, Wrenches was the 526th most exported product in United Kingdom. The main destination of Wrenches exports from United Kingdom are: Germany ($8.1M), Netherlands ($4.51M), Ireland ($3.72M), France ($3.23M), and Australia ($2.05M).

The fastest growing export markets for Wrenches of United Kingdom between 2022 and 2023 were France ($907k), Saudi Arabia ($867k), and Malaysia ($379k).

Imports In 2023, United Kingdom imported $136M in Wrenches, becoming the 5th largest importer of Wrenches in the world. At the same year, Wrenches was the 524th most imported product in United Kingdom. United Kingdom imports Wrenches primarily from: China ($49.8M), Chinese Taipei ($32.3M), United States ($19.9M), Germany ($9.29M), and India ($5.86M).

The fastest growing import markets in Wrenches for United Kingdom between 2022 and 2023 were United States ($3.24M), Germany ($2.17M), and Italy ($699k).

COMPANIES In 2024, leading companies such as ABB Motors and Mechanical (3) were at the forefront of shipping Wrenches from United Kingdom to the United States.

Latest Trends

December 2024

About

Overview In December 2024 United Kingdom's Wrenches exports accounted up to £3.84M and imports accounted up to £8.85M, resulting in a negative trade balance of £5.01M. Between December 2023 and December 2024 the exports of United Kingdom's   Wrenches have increased by £294k (8.28%) from £3.55M to £3.84M, while imports increased by £1.2M (15.7%) from £7.65M to £8.85M.

Destinations In December 2024, Wrenches were exported mostly to Germany (£495k), Netherlands (£328k), United States (£323k), Ireland (£311k), and France (£258k), and were imported mostly from China (£3.67M), Germany (£1.24M), United States (£1.19M), Chinese Taipei (£880k), and Netherlands (£390k).

Growth In December 2024, the increase in Wrenches's year-by-year exports was explained primarily by an increase in exports to Switzerland (£481k or 526%), Italy (£122k or 133%), and South Africa (£79.7k or 224%). In December 2024, the increase in Wrenches's year-by-year imports was explained primarily by an increase in imports from China (£316k or 14.7%), Norway (£200k or 606%), and Japan (£63.9k or 503%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)£294k(8.28%)
IMPORT GROWTH (December 2023 - December 2024)£1.2M(15.7%)
MAIN EXPORTER (December 2024)
MAIN DESTINATION (December 2024)Germany£495k

This section shows Wrenches'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 Wrenches over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$47.3M
IMPORTS (2023)$136M
NET TRADE (2023)-$88.8M

In 2023, United Kingdom exported $47.3M in Wrenches. The main destinations of United Kingdom exports on Wrenches were Germany ($8.1M), Netherlands ($4.51M), Ireland ($3.72M), France ($3.23M), and Australia ($2.05M).

In 2023, United Kingdom imported $136M in Wrenches, mainly from China ($49.8M), Chinese Taipei ($32.3M), United States ($19.9M), Germany ($9.29M), and India ($5.86M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Wrenches EXPORT MARKETS FOR United Kingdom WERE (2022 - 2023):
France$907k (39.1%)
Saudi Arabia$867k (167%)
Malaysia$379k (203%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Wrenches BY United Kingdom WERE (2022 - 2023):
Netherlands-$1.57M (-25.8%)
Germany-$1.45M (-15.2%)
China-$762k (-39%)
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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 Wrenches were:
China $1.21B
Chinese Taipei $1.01B
Germany $332M
In 2023, United Kingdom's main importing competitors in Wrenches were:
United States $778M
Germany $289M
France $156M

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Trade Value of Wrenches by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $2.61M
TOP IMPORT POTENTIALGermany+ $3.34M

Wrenches’s highest export potential is United States. With an export gap of $2.61M.   Wrenches’s highest import potential is Germany with an import gap of $3.34M.

See methodology.

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