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820780 (Harmonized System 1992 for 6-digit)

2023
World Trade $540MRnk 2771 / 4644
2023
Top Exporter | Top Importer $138M | $55.9MJapan | Germany
2023
Product Complexity 1.47Rnk 199 / 4656
2022 - 2023
Export Growth (CAGR) 9.37%Rnk 721 / 4644
2023
Share of World Trade 0.0024%Rnk 2771 / 4644

About

Overview This page contains the latest trade data of Tools for turning. In 2023, Tools for turning were the world's 2771st most traded product, with a total trade of $540M. Between 2022 and 2023 the exports of Tools for turning grew by 9.37%, from $494M to $540M. Trade in Tools for turning represent 0.0024% of total world trade.

Tools for turning are a part of Interchangeable Tool Parts.

Exports In 2023 the top exporters of Tools for turning  were Japan ($138M), Germany ($77.4M), China ($67.2M), Ireland ($35.9M), and United States ($32.2M).

Imports In 2023 the top importers of Tools for turning were Germany ($55.9M), Singapore ($39.1M), South Korea ($38.8M), United States ($36.8M), and China ($36.5M).

Ranking Tools for turning ranks 199th in the Product Complexity Index (PCI).

Description The most common tools for turning are lathes and chucks. A lathe is a machine that can be used for turning, which is the process of removing a small amount of material from a workpiece. The chuck is the metal that is mounted on the spindle of the lathe and used to hold the workpiece.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Tools for turning. 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)Japan$138M
Top Destination (2023)Germany$55.9M

In 2023 Tools for turning were the world's 2771st most traded product (out of 4,644).

In 2023, the top exporters of Tools for turning were Japan ($138M), Germany ($77.4M), China ($67.2M), Ireland ($35.9M), and United States ($32.2M).

In 2023, the top importers of Tools for turning were Germany ($55.9M), Singapore ($39.1M), South Korea ($38.8M), United States ($36.8M), and China ($36.5M).

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Exporters of Tools for turning (2023)
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Importers of Tools for turning (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Singapore$14.4M
Top Destination Growth (2022 -  2023)South Korea$20.5M

Between 2022 and 2023, the exports of Tools for turning grew the fastest in Singapore ($14.4M), China ($14.1M), Japan ($10.5M), Germany ($6.43M), and Portugal ($3.02M).

Between 2022 and 2023, the fastest growing importers of Tools for turning were South Korea ($20.5M), Malaysia ($15.5M), Russia ($7.87M), Italy ($5.22M), and Germany ($4.48M).

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Exporters of Tools for turning (2022 - 2023)

Importers of Tools for turning (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Tools for turning.

In 2023, market concentration measured using Shannon Entropy, was 3.96. This means that most of the exports of Tools for turning are explained by 15 countries.

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Value of Exports in Tools for turning

Net Trade

TOP NET EXPORTER (2023)Japan$120M
TOP NET IMPORTER (2023)Malaysia$23.6M

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

In 2023, the countries that had a largest trade value in exports than in imports of Tools for turning were Japan ($120M), Ireland ($34.2M), China ($30.7M), Germany ($21.5M), and Belgium ($12.9M).

In 2023, the countries that had a largest trade value in imports than in exports of Tools for turning were Malaysia ($23.6M), South Korea ($20.9M), Russia ($20.8M), Singapore ($20.3M), and India ($14.4M).

Net Trade (2023)

Country Comparison

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

Top 10 Exporters Countries of Tools for turning by percentage of total exports

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)

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