Plugs and Socket Price in Belgium - 2024
Contents:
- Plugs and Socket Price in Belgium (FOB) - 2024
- Plugs and Socket Price in Belgium (CIF) - 2022
- Plugs and Socket Exports in Belgium
- Plugs and Socket Imports in Belgium
Plugs and Socket Price in Belgium (FOB) - 2024
The average plugs and socket export price stood at $465 per thousand units in August 2023, rising by 35% against the previous month. Overall, export price indicated a buoyant expansion from February 2023 to August 2023: its price increased at an average monthly rate of +7.9% over the last six-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, plugs and socket export price increased by +29.0% against May 2023 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of destination: the country with the highest price was Hong Kong SAR ($1.2 per unit), while the average price for exports to Cameroon ($144 per thousand units) was amongst the lowest.
From February 2023 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.
Plugs and Socket Price in Belgium (CIF) - 2022
The average plugs and socket import price stood at $0.2 per unit in 2022, remaining constant against the previous year. Over the period under review, the import price, however, recorded a mild slump. The most prominent rate of growth was recorded in 2018 an increase of 26% against the previous year. Over the period under review, average import prices attained the maximum at $0.3 per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($0.6 per unit), while the price for France ($0.1 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Plugs and Socket Exports in Belgium
For the fourth consecutive year, Belgium recorded growth in shipments abroad of electrical plugs and sockets for under 1000 v, which increased by 2.8% to 1.4B units in 2022. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 44%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, plugs and socket exports expanded modestly to $422M in 2022. Over the period under review, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +24.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +90.9% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 39% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Plugs and Socket in Belgium (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 44.4 | 68.2 | 95.5 | 98.6 | 30.5% |
| United Kingdom | 18.7 | 28.7 | 34.2 | 30.6 | 17.8% |
| Italy | 8.4 | 15.7 | 26.6 | 28.6 | 50.4% |
| France | 14.4 | 22.5 | 30.8 | 26.6 | 22.7% |
| Netherlands | 11.2 | 19.1 | 25.7 | 24.8 | 30.3% |
| China | 9.8 | 13.8 | 22.0 | 22.5 | 31.9% |
| Denmark | 10.4 | 11.2 | 13.1 | 12.4 | 6.0% |
| Poland | 6.2 | 8.5 | 12.2 | 12.3 | 25.7% |
| Spain | 5.3 | 8.6 | 14.0 | 12.2 | 32.0% |
| Morocco | 11.4 | 9.2 | 9.6 | 11.7 | 0.9% |
| Romania | 7.6 | 7.7 | 9.4 | 11.0 | 13.1% |
| Hungary | 5.5 | 8.6 | 11.5 | 10.9 | 25.6% |
| Czech Republic | 6.9 | 6.6 | 9.8 | 9.9 | 12.8% |
| Others | 60.8 | 69.6 | 99.6 | 110 | 21.9% |
| Total | 221 | 298 | 414 | 422 | 24.1% |
Top Export Markets for Plugs and Socket from Belgium in 2022:
- Germany (431.6M units)
- Netherlands (117.2M units)
- Italy (108.6M units)
- France (92.0M units)
- United Kingdom (71.3M units)
- Czech Republic (70.1M units)
- Hungary (66.6M units)
- Spain (53.6M units)
- Poland (46.0M units)
- Romania (42.1M units)
- Denmark (37.4M units)
- Morocco (33.1M units)
- China (30.1M units)
Plugs and Socket Imports in Belgium
Plugs and socket imports into Belgium was estimated at 1.3B units in 2022, increasing by 6.4% against the previous year. Over the period under review, imports continue to indicate a significant increase. The growth pace was the most rapid in 2020 with an increase of 51%. Imports peaked in 2022 and are likely to continue growth in the near future.
In value terms, plugs and socket imports rose rapidly to $308M in 2022. Overall, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +21.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 32%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Plugs and Socket in Belgium (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 16.8 | 26.0 | 62.1 | 91.6 | 76.0% |
| China | 18.5 | 37.6 | 53.2 | 68.3 | 54.6% |
| Germany | 57.4 | 54.7 | 82.8 | 66.8 | 5.2% |
| France | 17.1 | 16.2 | 18.3 | 17.6 | 1.0% |
| Taiwan (Chinese) | 7.6 | 8.1 | 12.1 | 13.4 | 20.8% |
| United Kingdom | 26.2 | 38.7 | 8.8 | 9.3 | -29.2% |
| Italy | 2.7 | 4.5 | 4.2 | 5.3 | 25.2% |
| Others | 26.8 | 43.1 | 46.6 | 35.3 | 9.6% |
| Total | 173 | 229 | 288 | 308 | 21.2% |
Top Suppliers of Plugs and Socket to Belgium in 2022:
- Netherlands (401.3M units)
- China (321.1M units)
- Germany (262.3M units)
- France (169.5M units)
- Taiwan (Chinese) (40.1M units)
- Italy (30.5M units)
- United Kingdom (16.5M units)
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