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Tools, interchangeable; for hand tools, whether or not power-operated, or for machine tools (pressing, stamping, punching, drilling etc), including dies for drawing or extruding metal, and rock drilling or earth boring tools

8207 (Harmonized System 1992 for 4-digit)

2023
World Trade $23.1BRnk 186 / 1217
2023
Top Exporter | Top Importer $4.99B | $3.05BChina | United States
2023
Product Complexity 1.75Rnk 9 / 1044
2022 - 2023
Export Growth (CAGR) -1.19%Rnk 451 / 1217
2023
Share of World Trade 0.1%Rnk 186 / 1217

About

Overview This page contains the latest trade data of Interchangeable Tool Parts. In 2023, Interchangeable Tool Parts were the world's 186th most traded product, with a total trade of $23.1B. Between 2022 and 2023 the exports of Interchangeable Tool Parts decreased by -1.19%, from $23.3B to $23.1B. Trade in Interchangeable Tool Parts represent 0.1% of total world trade.

Interchangeable Tool Parts are a part of Tools & cutlery. They include Tools for pressing, stamping or punching, Tools for drilling, other than for rock drilling, Screwdriver bits and other interchangeable tools, Rock drilling or earth boring tools except carbide, Tools for milling, Dies for drawing or extruding metal, Tools for tapping or threading, Rock drilling, boring heads of sintered metal, carbid, Tools for turning, and Tools for boring or broaching, among others.

Exports In 2023 the top exporters of Interchangeable Tool Parts  were China ($4.99B), Germany ($4.03B), United States ($1.99B), Japan ($1.82B), and South Korea ($1.19B).

Imports In 2023 the top importers of Interchangeable Tool Parts were United States ($3.05B), Germany ($2.21B), Mexico ($1.66B), China ($998M), and Canada ($825M).

Ranking Interchangeable Tool Parts ranks 9th in the Product Complexity Index (PCI).

Description Tools are used to make other goods. They can be made from a variety of materials, including steel, aluminum, and plastic.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Interchangeable Tool Parts. Countries are shown based on data availability.

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

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* 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)China$4.99B
Top Destination (2023)United States$3.05B

In 2023 Interchangeable Tool Parts were the world's 186th most traded product (out of 1,217).

In 2023, the top exporters of Interchangeable Tool Parts were China ($4.99B), Germany ($4.03B), United States ($1.99B), Japan ($1.82B), and South Korea ($1.19B).

In 2023, the top importers of Interchangeable Tool Parts were United States ($3.05B), Germany ($2.21B), Mexico ($1.66B), China ($998M), and Canada ($825M).

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Exporters of Interchangeable Tool Parts (2023)
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Importers of Interchangeable Tool Parts (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Germany$125M
Top Destination Growth (2022 -  2023)Mexico$420M

Between 2022 and 2023, the exports of Interchangeable Tool Parts grew the fastest in Germany ($125M), United States ($67.4M), Switzerland ($57.6M), Italy ($54.9M), and United Arab Emirates ($30.9M).

Between 2022 and 2023, the fastest growing importers of Interchangeable Tool Parts were Mexico ($420M), Italy ($90.7M), Russia ($77.3M), Czechia ($54M), and Hungary ($50.8M).

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Exporters of Interchangeable Tool Parts (2022 - 2023)

Importers of Interchangeable Tool Parts (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Interchangeable Tool Parts.

In 2023, market concentration measured using Shannon Entropy, was 4.24. This means that most of the exports of Interchangeable Tool Parts are explained by 18 countries.

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Value of Exports in Interchangeable Tool Parts

Net Trade

TOP NET EXPORTER (2023)China$3.99B
TOP NET IMPORTER (2023)Mexico$1.48B

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

In 2023, the countries that had a largest trade value in exports than in imports of Interchangeable Tool Parts were China ($3.99B), Germany ($1.82B), Japan ($1.35B), South Korea ($856M), and Chinese Taipei ($489M).

In 2023, the countries that had a largest trade value in imports than in exports of Interchangeable Tool Parts were Mexico ($1.48B), United States ($1.06B), Russia ($494M), Canada ($453M), and France ($336M).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Interchangeable Tool Parts, disaggragated by their HS6 level were Tools for pressing, stamping or punching ($6B), Tools for drilling, other than for... ($4.53B), Screwdriver bits and other interchangeable tools ($3.31B), Tools for milling ($2.79B), and Rock drilling or earth boring tools... ($2.52B)

HS6 Disaggregation for Interchangeable Tool Parts (2023)
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Country Comparison

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Ranking

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

Top 10 Exporters Countries of Interchangeable Tool Parts by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALIndia+ $125M
TOP IMPORT POTENTIALSouth Korea+ $46.2M

Interchangeable Tool Parts’s highest export potential is India. With an export gap of $125M.  Interchangeable Tool Parts’s highest import potential is South Korea with an import gap of $46.2M.

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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)

Related Products

This visualization shows products that are likely to be exported by countries that export Interchangeable Tool Parts.

Country by Relatedness

The following visualization shows the relatedness of Interchangeable Tool Parts 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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