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Balances; of a sensitivity of 5cg or better, with or without weights

9016 (Harmonized System 1992 for 4-digit)

2023
World Trade $462MRnk 1050 / 1217
2023
Top Exporter | Top Importer $106M | $88MGermany | United States
2022 - 2023
Export Growth (CAGR) 10%Rnk 160 / 1217
2023
Share of World Trade 0.002%Rnk 1050 / 1217

About

Overview This page contains the latest trade data of Balances. In 2023, Balances were the world's 1050th most traded product, with a total trade of $462M. Between 2022 and 2023 the exports of Balances grew by 10%, from $420M to $462M. Trade in Balances represent 0.002% of total world trade.

Balances are a part of Optical, photo, & film equipment; medical instruments. They include Balances of a sensitivity of 50 milligram or better.

Exports In 2023 the top exporters of Balances  were Germany ($106M), China ($93.1M), Netherlands ($86.8M), Switzerland ($63.6M), and Philippines ($19M).

Imports In 2023 the top importers of Balances were United States ($88M), China ($41.6M), Germany ($33M), India ($28.2M), and United Kingdom ($17.2M).

Latest Trends

Latest Data

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Flow
Y-AXIS SCALE

The following visualization shows the latest trends on Balances. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

Explore Latest Trends

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)Germany$106M
Top Destination (2023)United States$88M

In 2023 Balances were the world's 1050th most traded product (out of 1,217).

In 2023, the top exporters of Balances were Germany ($106M), China ($93.1M), Netherlands ($86.8M), Switzerland ($63.6M), and Philippines ($19M).

In 2023, the top importers of Balances were United States ($88M), China ($41.6M), Germany ($33M), India ($28.2M), and United Kingdom ($17.2M).

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Exporters of Balances (2023)
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Importers of Balances (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Netherlands$42.6M
Top Destination Growth (2022 -  2023)United States$37.8M

Between 2022 and 2023, the exports of Balances grew the fastest in Netherlands ($42.6M), Germany ($6.97M), Switzerland ($4.51M), Philippines ($1.79M), and Estonia ($1.29M).

Between 2022 and 2023, the fastest growing importers of Balances were United States ($37.8M), China ($11.5M), Russia ($4.73M), Mexico ($2.44M), and United Arab Emirates ($1.79M).

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Exporters of Balances (2022 - 2023)

Importers of Balances (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Balances.

In 2023, market concentration measured using Shannon Entropy, was 3.29. This means that most of the exports of Balances are explained by 9 countries.

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Value of Exports in Balances

Net Trade

TOP NET EXPORTER (2023)Netherlands$76.2M
TOP NET IMPORTER (2023)United States$76.4M

This map shows which countries export or import more of Balances. Each country is colored based on the difference in exports and imports of Balances during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Balances were Netherlands ($76.2M), Germany ($73M), China ($51.5M), Switzerland ($49.3M), and Philippines ($16.4M).

In 2023, the countries that had a largest trade value in imports than in exports of Balances were United States ($76.4M), India ($26.3M), United Kingdom ($13.1M), Canada ($10.7M), and Russia ($9.26M).

Net Trade (2023)

Country Comparison

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Measure
Ranking

This visualization shows the countries that have an important ratio of their trade related to Balances.
It is possible to select the main countries that export or import Balances in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Balances by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALIndia+ $3.79M
TOP IMPORT POTENTIALPhilippines+ $756k

Balances’s highest export potential is India. With an export gap of $3.79M.  Balances’s highest import potential is Philippines with an import gap of $756k.

See methodology.

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Product Complexity

Diversification Frontier

Specialization

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.

Relatedness vs Country Complexity (2023)

Country by Relatedness

The following visualization shows the relatedness of Balances to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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