Plugs and Socket Price in Mexico - 2024
Contents:
- Plugs and Socket Price in Mexico (FOB) - 2022
- Plugs and Socket Price in Mexico (CIF) - 2024
- Plugs and Socket Exports in Mexico
- Plugs and Socket Imports in Mexico
Plugs and Socket Price in Mexico (FOB) - 2022
The average plugs and socket export price stood at $0.3 per unit in 2022, leveling off at the previous year. In general, the export price saw perceptible growth. The most prominent rate of growth was recorded in 2013 an increase of 50%. The export price peaked at $0.6 per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($0.3 per unit), while the average price for exports to Costa Rica amounted to $0.1 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.8%).
Plugs and Socket Price in Mexico (CIF) - 2024
In June 2023, the average plugs and socket import price amounted to $346 per thousand units, rising by 9.5% against the previous month. Overall, import price indicated tangible growth from February 2023 to June 2023: its price increased at an average monthly rate of +2.7% over the last four months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, plugs and socket import price decreased by -24.6% against March 2023 indices. The pace of growth appeared the most rapid in March 2023 when the average import price increased by 47% month-to-month. As a result, import price reached the peak level of $0.5 per unit. From April 2023 to June 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was the United States ($648 per thousand units), while the price for China ($175 per thousand units) was amongst the lowest.
From February 2023 to June 2023, the most notable rate of growth in terms of prices was attained by Japan (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Plugs and Socket Exports in Mexico
In 2022, approx. 2.1B units of electrical plugs and sockets for under 1000 v were exported from Mexico; surging by 8.2% against 2021 figures. In general, exports saw a significant increase. The growth pace was the most rapid in 2021 when exports increased by 102% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, plugs and socket exports stood at $643M in 2022. The total export value increased at an average annual rate of +3.8% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 11%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.
| Export of Plugs and Socket in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 535 | 516 | 565 | 622 | 5.2% |
| Costa Rica | 6.4 | 3.4 | 8.1 | 4.9 | -8.5% |
| Others | 33.4 | 14.7 | 19.9 | 16.7 | -20.6% |
| Total | 574 | 534 | 593 | 643 | 3.9% |
Top Export Markets for Plugs and Socket from Mexico in 2022:
- United States (1967.3M units)
- Costa Rica (34.6M units)
Plugs and Socket Imports in Mexico
For the fourth consecutive year, Mexico recorded growth in overseas purchases of electrical plugs and sockets for under 1000 v, which increased by 29% to 4.4B units in 2022. In general, imports saw a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 52% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.
In value terms, plugs and socket imports totaled $598M in 2022. The total import value increased at an average annual rate of +6.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Plugs and Socket in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 238 | 184 | 215 | 228 | -1.4% |
| China | 141 | 121 | 183 | 217 | 15.5% |
| Japan | 19.7 | 13.4 | 16.8 | 17.7 | -3.5% |
| South Korea | 16.6 | 13.7 | 14.0 | 12.7 | -8.5% |
| Others | 73.9 | 75.3 | 107 | 123 | 18.5% |
| Total | 489 | 408 | 536 | 598 | 6.9% |
Top Suppliers of Plugs and Socket to Mexico in 2022:
- China (2740.7M units)
- United States (1195.2M units)
- South Korea (95.6M units)
- Japan (52.0M units)
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