Which Country Exports the Most Interchangeable Tools in the World?

Cutlery, Hand Tools And General Hardware May 28, 2018
Author: Sergey Avramenko
Head of Global Markets Research Team

Which Country Exports the Most Interchangeable Tools in the World?

IndexBox has just published a new report "World: Interchangeable Tools For Hand Tools - Market Report. Analysis and Forecast to 2025". Here is a summary of the report's key findings.

In 2016, the global interchangeable tool imports amounted to 1.1M tonnes, going down by -1.8% against the previous year level. In general, interchangeable tool imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011, when import increased by 7% against the previous year level. Over the period under review, global interchangeable tool imports reached its maximum volume of 1.1M tonnes in 2015, falling back in the following year.

In value terms, interchangeable tool imports amounted to $20B in 2016. The total import value increased at an average annual rate of +1.9% over the period from 2007 to 2016- the trend pattern indicated some noticeable fluctuations in certain years. Over the period under review, global interchangeable tool imports reached its maximum level of $22B in 2014- however, from 2015 to 2016, it failed to regain its strength.

Top Interchangeable Tool Importing Countries in the World

1. Germany (1,897.2 million USD)

2. China (1,495.5 million USD)

3. France (650.3 million USD)

4. Japan (509.1 million USD)

5. Russia (501.4 million USD)

6. Italy (485.0 million USD)

7. United Kingdom (475.4 million USD)

8. India (451.6 million USD)

9. Spain (386.6 million USD)

10. Czech Republic (330.6 million USD)

11. South Korea (278.2 million USD)

Interchangeable Tool Imports By Country

In 2016, China (242K tonnes), distantly followed by Germany (107K tonnes), South Korea (102K tonnes), and Japan (87K tonnes) were the key importers of interchangeable tool, together committing 49% of total imports. The following importers - Spain (48K tonnes), Italy (37K tonnes), the UK (34K tonnes), France (30K tonnes), Russia (29K tonnes), Czech Republic (19K tonnes), and India (19K tonnes) together made up 20% of total imports.

China experienced a relatively flat trend pattern. At the same time, Russia (+4.6%), Czech Republic (+4.3%), Spain (+3.2%), France (+3.0%), Germany (+2.6%), India (+2.5%), and the UK (+1.0%) displayed positive paces of growth. Moreover, Russia emerged as the fastest growing importer/exporter in the world, with a CAGR of +4.6% from 2007-2016. Japan, South Korea, and Italy experienced a relatively flat trend pattern. While the share of Germany (-2.0%) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($1.9B), China ($1.5B) and France ($650M) were the countries with the highest levels of imports in 2016, with a combined 21% share of global imports. These countries were followed by Japan, Russia, Italy, the UK, India, Spain, Czech Republic and South Korea, which together accounted for a further 17%.

Russia (+8.0% per year) experienced the highest rates of growth with regard to the interchangeable tool imports, in terms of the main importing countries, over the last 9 year period, while the other global leaders experienced more modest paces of growth.

Interchangeable Tool Import Prices By Country

The average interchangeable tool import price stood at $18 per kg in 2016, going down by -1.7% against the previous year. Over the period from 2007 to 2016 it increased at an average annual rate of +2.0%.The most prominent rate of growth was recorded in 2008, when import increased by 20% against the previous year level. Global interchangeable tool import peaked of $20 per kg in 2013- however, from 2014 to 2016, it failed to regain its strength.

There were significant differences in the average import prices amongst major importing countries. In 2016, the country with the highest import prices was India ($24 per kg), while South Korea ($2,720 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of interchangeable tool import prices was attained by Russia (+3.3% per year), while the other global leaders experienced more modest paces of growth.

Do you want to know more about global interchangeable tool market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • interchangeable tool market share
  • interchangeable tool prices
  • interchangeable tool industry
  • interchangeable tool sales
  • interchangeable tool import
  • interchangeable tool export
  • interchangeable tool market forecast
  • interchangeable tool price forecast
  • key interchangeable tool producers

All data provided in this article covers the following product: HS Code 8207 - 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.

Source: World: Interchangeable Tools For Hand Tools - Market Report. Analysis and Forecast to 2025