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Transformers and power supplies: top exporters and importers (2024)

In 2024, world trade in transformers and power supplies totaled $151.9 billion (6.9 million tonnes). The top exporters were China (35%), Germany (7%) and Mexico (5%); the top importers were the United States (20%), Germany (8%) and China (4%). Compared with 2019, the value rose 57%.

Summary

World trade
$151.9billion
Tonnes
6.9million tonnes
Price per tonne
$21,642
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. China$52.6 billion · 34.7%
  2. Germany$10.7 billion · 7%
  3. Mexico$6.9 billion · 4.5%
  4. Japan$5.9 billion · 3.9%
  5. United States$5.8 billion · 3.8%
  6. Thailand$5.4 billion · 3.5%
  7. Italy$4.9 billion · 3.3%
  8. Vietnam$4.4 billion · 2.9%
  9. South Korea$4.2 billion · 2.8%
  10. India$3.5 billion · 2.3%
  11. Taiwan$3.4 billion · 2.2%
  12. Philippines$2.7 billion · 1.8%
  13. Hungary$2.7 billion · 1.8%
  14. Spain$2.6 billion · 1.7%
  15. Turkey$2.4 billion · 1.6%
  16. Netherlands$2.3 billion · 1.5%
    re-exports
  17. Austria$2.3 billion · 1.5%
  18. Poland$2.2 billion · 1.5%
  19. Malaysia$2.1 billion · 1.4%
  20. Czechia$1.9 billion · 1.3%

Top importers

  1. United States$29.9 billion · 19.7%
  2. Germany$12.3 billion · 8.1%
  3. China$6.4 billion · 4.2%
  4. Hong Kong$6 billion · 3.9%
    re-exports
  5. Mexico$5.8 billion · 3.8%
  6. Netherlands$4.7 billion · 3.1%
    re-exports
  7. France$4.3 billion · 2.8%
  8. United Kingdom$4.1 billion · 2.7%
  9. Japan$3.8 billion · 2.5%
  10. South Korea$3.7 billion · 2.4%
  11. India$3.5 billion · 2.3%
  12. Italy$3.4 billion · 2.3%
  13. Vietnam$3.4 billion · 2.2%
  14. Taiwan$2.9 billion · 1.9%
  15. Canada$2.8 billion · 1.8%
  16. Spain$2.8 billion · 1.8%
  17. Poland$2.4 billion · 1.6%
  18. Thailand$2.3 billion · 1.5%
  19. Malaysia$2.2 billion · 1.5%
  20. Singapore$2.2 billion · 1.4%
    re-exports

Trend

Who sells it

China has been the top exporter since 1996

Value in USD billions. The five largest exporters in 2024.

  • China 52.6
  • Germany 10.7
  • Mexico 6.9
  • Japan 5.9
  • United States 5.8

Source: CEPII BACI

Show the numbers
Country19952024
China2.652.6
Germany2.210.7
Mexico0.996.9
Japan2.95.9
United States2.45.8

Price

Implied price

The price per tonne rose 838% since 1995

Current US dollars per tonne: value over the weight reported by BACI.

  • 2024: $21,642

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$2,307
1996$3,161
1997$3,256
1998$2,690
1999$1,905
2000$2,316
2001$7,077
2002$12,359
2003$14,218
2004$6,948
2005$10,442
2006$11,759
2007$17,742
2008$17,691
2009$17,613
2010$20,809
2011$21,743
2012$7,304
2013$20,569
2014$19,044
2015$18,415
2016$13,955
2017$18,651
2018$20,405
2019$17,748
2020$19,197
2021$22,304
2022$22,617
2023$24,119
2024$21,642

What it includes

  • 8504 · Transformers and power supplies

Products in the same chapter

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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