Plugs and Socket Price in Australia - 2024
Contents:
- Plugs and Socket Price in Australia (CIF) - 2022
- Plugs and Socket Price in Australia (FOB) - 2024
- Plugs and Socket Imports in Australia
- Plugs and Socket Exports in Australia
Plugs and Socket Price in Australia (CIF) - 2022
In 2022, the average plugs and socket import price amounted to $0.8 per unit, surging by 9.3% against the previous year. Overall, the import price enjoyed strong growth. The growth pace was the most rapid in 2017 when the average import price increased by 119% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($0.8 per unit) and Mexico ($0.8 per unit), while the price for France ($0.8 per unit) and New Zealand ($0.8 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Plugs and Socket Price in Australia (FOB) - 2024
The average plugs and socket export price stood at $693 per thousand units in August 2023, remaining stable against the previous month. Overall, the export price recorded a slight curtailment. The growth pace was the most rapid in July 2023 an increase of less than 0.1% month-to-month. Over the period under review, the average export prices hit record highs at $758 per thousand units in March 2023; however, from April 2023 to August 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In August 2023, the highest price was recorded for prices to the Philippines ($743 per thousand units) and Taiwan (Chinese) ($743 per thousand units), while the average price for exports to Singapore ($743 per thousand units) and Malaysia ($743 per thousand units) were amongst the lowest.
From March 2023 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.
Plugs and Socket Imports in Australia
Plugs and socket imports into Australia contracted to 257M units in 2022, with a decrease of -11.5% on the previous year. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 17% against the previous year. As a result, imports reached the peak of 291M units, and then shrank in the following year.
In value terms, plugs and socket imports fell slightly to $197M in 2022. The total import value increased at an average annual rate of +6.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 22%. As a result, imports attained the peak of $203M, and then fell modestly in the following year.
| Import of Plugs and Socket in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 74.8 | 75.3 | 88.1 | 90.6 | 6.6% |
| Vietnam | 20.7 | 23.1 | 34.1 | 23.1 | 3.7% |
| United States | 21.0 | 19.0 | 18.5 | 21.1 | 0.2% |
| Taiwan (Chinese) | 10.1 | 10.1 | 12.8 | 11.2 | 3.5% |
| Germany | 6.4 | 6.3 | 7.4 | 7.6 | 5.9% |
| Mexico | 3.6 | 3.9 | 5.6 | 6.9 | 24.2% |
| Japan | 2.3 | 2.7 | 5.3 | 6.0 | 37.7% |
| United Kingdom | 4.4 | 4.5 | 6.3 | 4.8 | 2.9% |
| France | 3.3 | 5.7 | 4.7 | 3.8 | 4.8% |
| Others | 17.9 | 16.5 | 20.6 | 21.7 | 6.6% |
| Total | 164 | 167 | 203 | 197 | 6.3% |
Top Suppliers of Plugs and Socket to Australia in 2022:
- China (118.4M units)
- Vietnam (30.2M units)
- United States (27.6M units)
- Taiwan (Chinese) (14.7M units)
- Germany (9.9M units)
- Mexico (9.0M units)
- Japan (7.8M units)
- United Kingdom (6.3M units)
- France (5.0M units)
Plugs and Socket Exports in Australia
After three years of growth, overseas shipments of electrical plugs and sockets for under 1000 v decreased by -18.4% to 37M units in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +11.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +38.3% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 34%. The exports peaked at 45M units in 2021, and then declined dramatically in the following year.
In value terms, plugs and socket exports reduced to $23M in 2022. Overall, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +17.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.9% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 43%. The exports peaked at $25M in 2021, and then declined in the following year.
| Export of Plugs and Socket in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 5.1 | 9.5 | 11.0 | 10.2 | 26.0% |
| Singapore | 0.3 | 1.5 | 1.1 | 1.4 | 67.1% |
| United States | 1.2 | 2.6 | 1.2 | 1.4 | 5.3% |
| China | 1.1 | 0.2 | 1.3 | 1.3 | 5.7% |
| France | N/A | 0.3 | 0.1 | 1.0 | 82.6% |
| Hong Kong SAR | 0.6 | 0.7 | 1.1 | 1.0 | 18.6% |
| Germany | 0.2 | 0.5 | 0.8 | 0.7 | 51.8% |
| Philippines | 0.4 | 0.3 | 0.4 | 0.6 | 14.5% |
| Malaysia | 0.6 | 0.6 | 0.4 | 0.6 | 0.0% |
| Papua New Guinea | 0.2 | 0.3 | 0.6 | 0.5 | 35.7% |
| Taiwan (Chinese) | 0.2 | 0.2 | 0.1 | 0.4 | 26.0% |
| Austria | 0.5 | N/A | 1.2 | 0.2 | -26.3% |
| Chile | N/A | 0.1 | 1.6 | 0.1 | 0.0% |
| Others | 3.6 | 3.3 | 3.8 | 4.0 | 3.6% |
| Total | 14.1 | 20.1 | 24.7 | 23.1 | 17.9% |
Top Export Markets for Plugs and Socket from Australia in 2022:
- New Zealand (16.1M units)
- United States (2.2M units)
- Singapore (2.1M units)
- China (2.1M units)
- France (1.6M units)
- Hong Kong SAR (1.6M units)
- Germany (1.1M units)
- Philippines (0.9M units)
- Malaysia (0.9M units)
- Papua New Guinea (0.7M units)
- Taiwan (Chinese) (0.6M units)
- Austria (0.3M units)
- Chile (0.1M units)
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