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2022
Exports $247MWorld Rnk 4 / 200
Flag Rnk 551 / 1217
2022
Destination $8.71M Canada
2021 - 2022
FASTEST GROWING MARKET $8.71MCanada
2022
PRODUCT COMPLEXITY IN Wrenches1.67Rnk 30 / 1025
2022
Imports $923MWorld Rnk 1 / 219
Flag Rnk 413 / 1216
2022
Origin $49.2M Chinese Taipei
2021 - 2022
FASTEST GROWING ORIGIN $49.2MChinese Taipei
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $247M in Wrenches, making it the 4th largest exporter of Wrenches in the world. At the same year, Wrenches was the 551st most exported product in United States. The main destination of Wrenches exports from United States are: Canada ($60.3M), Mexico ($23.7M), Australia ($18.4M), United Kingdom ($16.2M), and Japan ($12.8M).

The fastest growing export markets for Wrenches of United States between 2021 and 2022 were Canada ($8.71M), Mexico ($6.42M), and Australia ($4.69M).

Imports In 2022, United States imported $923M in Wrenches, becoming the 1st largest importer of Wrenches in the world. At the same year, Wrenches was the 413th most imported product in United States. United States imports Wrenches primarily from: Chinese Taipei ($409M), China ($332M), India ($52.4M), Vietnam ($39.4M), and Germany ($22.4M).

The fastest growing import markets in Wrenches for United States between 2021 and 2022 were Chinese Taipei ($49.2M), Vietnam ($27.5M), and Mexico ($4.93M).

COMPANIES In 2023, leading companies such as CrimsonLogic (1.9k), Apex Tool Group (433), and Samsung (371) were at the forefront of shipping Wrenches to the United States.

Latest Trends

June 2024

About

Overview In June 2024 United States' Wrenches exports accounted up to $25.1M and imports accounted up to $64.2M, resulting in a negative trade balance of $39.1M. Between June 2023 and June 2024 the exports of United States'   Wrenches have decreased by $-878k (-3.38%) from $26M to $25.1M, while imports increased by $1.07M (1.69%) from $63.1M to $64.2M.

Destinations In June 2024, Wrenches were exported mostly to Canada ($8.35M), Mexico ($2.12M), Germany ($1.39M), United Kingdom ($1.3M), and Australia ($1.29M), and were imported mostly from Chinese Taipei ($28.1M), China ($16.5M), Vietnam ($5.54M), India ($4.06M), and Germany ($2.42M).

Growth In June 2024, the decrease in Wrenches's year-by-year exports was explained primarily by a decrease in exports to Australia ($-370k or -25.7%), Russia ($-299k or -98.8%), and Argentina ($-240k or -69.9%). In June 2024, the increase in Wrenches's year-by-year imports was explained primarily by an increase in imports from Chinese Taipei ($1.06M or 3.58%), Vietnam ($598k or 21.8%), and Italy ($182k or 78.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$-878k(-3.38%)
IMPORT GROWTH (June 2023 - June 2024)$1.07M(1.69%)
MAIN EXPORTER (June 2024)Texas$7.15M
MAIN DESTINATION (June 2024)Canada$8.35M

This section shows Wrenches'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 Wrenches over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$247M
IMPORTS (2022)$923M
NET TRADE (2022)-$676M

In 2022, United States exported $247M in Wrenches. The main destinations of United States exports on Wrenches were Canada ($60.3M), Mexico ($23.7M), Australia ($18.4M), United Kingdom ($16.2M), and Japan ($12.8M).

In 2022, United States imported $923M in Wrenches, mainly from Chinese Taipei ($409M), China ($332M), India ($52.4M), Vietnam ($39.4M), and Germany ($22.4M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Wrenches EXPORT MARKETS FOR United States WERE (2021 - 2022):
Canada$8.71M (16.9%)
Mexico$6.42M (37.2%)
Australia$4.69M (34.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Wrenches BY United States WERE (2021 - 2022):
China-$2.45M (-25.7%)
Vietnam-$663k (-77.9%)
Russia-$624k (-28.6%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Wrenches were:
China $1.41B
Chinese Taipei $1.02B
Germany $349M
In 2022, United States's main importing competitors in Wrenches were:
Germany $325M
France $152M

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Trade Value of Wrenches by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $2.66M
TOP IMPORT POTENTIALIndia+ $10.1M

Wrenches’s highest export potential is Germany. With an export gap of $2.66M.   Wrenches’s highest import potential is India with an import gap of $10.1M.

See methodology.

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