Plugs and Socket Price in Malaysia - 2024
Contents:
- Plugs and Socket Price in Malaysia (CIF) - 2022
- Plugs and Socket Price in Malaysia (FOB) - 2022
- Plugs and Socket Imports in Malaysia
- Plugs and Socket Exports in Malaysia
Plugs and Socket Price in Malaysia (CIF) - 2022
The average plugs and socket import price stood at $0.1 per unit in 2022, with a decrease of -14.6% against the previous year. Overall, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plugs and socket import price decreased by -28.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 53% against the previous year. The import price peaked at $0.1 per unit in 2015; however, from 2016 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 United States ($0.4 per unit), while the price for Hong Kong SAR (less than $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 the United States (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Plugs and Socket Price in Malaysia (FOB) - 2022
In 2022, the average plugs and socket export price amounted to $0.1 per unit, which is down by -37.1% against the previous year. In general, the export price continues to indicate a sharp decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by 19% against the previous year. Over the period under review, the average export prices attained the peak figure at $0.5 per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($0.1 per unit), while the average price for exports to Kuwait (less than $0.1 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-16.6%), while the prices for the other major destinations experienced a decline.
Plugs and Socket Imports in Malaysia
For the fourth year in a row, Malaysia recorded growth in purchases abroad of electrical plugs and sockets for under 1000 v, which increased by 48% to 7.5B units in 2022. In general, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, plugs and socket imports surged to $472M in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +16.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.6% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Plugs and Socket in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 62.3 | 82.5 | 104 | 140 | 31.0% |
| United States | 86.2 | 60.6 | 112 | 125 | 13.2% |
| Singapore | 21.7 | 28.3 | 29.2 | 43.8 | 26.4% |
| South Korea | 14.1 | 21.4 | 22.3 | 41.9 | 43.8% |
| Japan | 13.6 | 14.6 | 18.2 | 20.9 | 15.4% |
| Taiwan (Chinese) | 8.1 | 9.3 | 13.8 | 10.9 | 10.4% |
| Hong Kong SAR | 10.4 | 15.1 | 14.9 | 10.5 | 0.3% |
| Germany | 17.0 | 26.7 | 9.6 | 9.3 | -18.2% |
| Others | 66.0 | 64.6 | 49.6 | 70.1 | 2.0% |
| Total | 299 | 323 | 374 | 472 | 16.4% |
Top Suppliers of Plugs and Socket to Malaysia in 2022:
- China (4097.1M units)
- Singapore (701.1M units)
- South Korea (689.5M units)
- Hong Kong SAR (566.3M units)
- United States (326.5M units)
- Japan (318.0M units)
- Taiwan (Chinese) (258.8M units)
- Germany (169.2M units)
Plugs and Socket Exports in Malaysia
For the fourth consecutive year, Malaysia recorded growth in shipments abroad of electrical plugs and sockets for under 1000 v, which increased by 79% to 3.1B units in 2022. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 87% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.
In value terms, plugs and socket exports rose remarkably to $157M in 2022. Overall, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +14.8% 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 +60.9% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 43%. The exports peaked in 2022 and are likely to continue growth in years to come.
| Export of Plugs and Socket in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 16.6 | 20.1 | 30.1 | 38.0 | 31.8% |
| Hong Kong SAR | 9.7 | 9.8 | 16.9 | 20.8 | 29.0% |
| Singapore | 15.4 | 11.5 | 14.0 | 16.9 | 3.1% |
| Germany | 6.1 | 5.5 | 10.8 | 16.6 | 39.6% |
| China | 9.2 | 10.4 | 14.5 | 12.4 | 10.5% |
| Japan | 9.9 | 10.8 | 10.7 | 10.7 | 2.6% |
| Vietnam | 4.2 | 4.8 | 7.7 | 8.1 | 24.5% |
| South Korea | 1.4 | 1.7 | 2.1 | 5.8 | 60.6% |
| United Kingdom | 3.0 | 3.3 | 3.5 | 4.2 | 11.9% |
| India | 1.4 | 2.8 | 6.9 | 2.6 | 22.9% |
| Thailand | 17.8 | 5.1 | 5.9 | 2.5 | -48.0% |
| Kuwait | 0.2 | 0.1 | 0.2 | 1.1 | 76.5% |
| Indonesia | 0.8 | 0.7 | 1.0 | 0.3 | -27.9% |
| Others | 7.8 | 10.7 | 14.7 | 16.5 | 28.4% |
| Total | 103 | 97.3 | 139 | 157 | 15.1% |
Top Export Markets for Plugs and Socket from Malaysia in 2022:
- United States (745.2M units)
- Singapore (590.8M units)
- Hong Kong SAR (294.7M units)
- China (194.4M units)
- Germany (182.0M units)
- United Kingdom (167.6M units)
- Kuwait (150.9M units)
- Japan (127.9M units)
- South Korea (90.8M units)
- Thailand (73.9M units)
- Vietnam (41.4M units)
- India (38.0M units)
- Indonesia (17.5M units)
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