Plugs and Socket Price in Nepal - 2022
Contents:
- Plugs and Socket Price in Nepal (CIF) - 2022
- Plugs and Socket Price in Nepal (FOB) - 2022
- Plugs and Socket Imports in Nepal
- Plugs and Socket Exports in Nepal
Plugs and Socket Price in Nepal (CIF) - 2022
In 2022, the average plugs and socket import price amounted to $0.1 per unit, flattening at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.6%. The pace of growth was the most pronounced in 2014 an increase of 35%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($0.8 per unit), while the price for China totaled $0.1 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+14.4%).
Plugs and Socket Price in Nepal (FOB) - 2022
The average plugs and socket export price stood at $0.4 per unit in 2022, growing by 6.9% against the previous year. In general, the export price, however, saw a slight curtailment. The growth pace was the most rapid in 2017 an increase of 81% against the previous year. As a result, the export price attained the peak level of $0.8 per unit. From 2018 to 2022, the average export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($2 per unit), while the average price for exports to Switzerland ($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 Canada (+9.6%), while the prices for the other major destinations experienced mixed trend patterns.
Plugs and Socket Imports in Nepal
In 2022, the amount of electrical plugs and sockets for under 1000 v imported into Nepal declined rapidly to 49M units, which is down by -16.7% on the previous year. In general, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +5.7% 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 +50.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 80% against the previous year. As a result, imports reached the peak of 58M units, and then contracted dramatically in the following year.
In value terms, plugs and socket imports dropped sharply to $5M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +9.5% 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 +58.0% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 87% against the previous year. As a result, imports reached the peak of $5.9M, and then declined sharply in the following year.
| Import of Plugs and Socket in Nepal (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.5 | 2.3 | 4.6 | 3.8 | 15.0% |
| India | 1.0 | 0.8 | 1.2 | 1.1 | 3.2% |
| Others | 0.3 | 0.1 | 0.1 | 0.1 | -30.7% |
| Total | 3.8 | 3.2 | 5.9 | 5.0 | 9.6% |
Top Suppliers of Plugs and Socket to Nepal in 2022:
- China (46.7M units)
- India (1.3M units)
Plugs and Socket Exports in Nepal
In 2022, shipments abroad of electrical plugs and sockets for under 1000 v decreased by -47.2% to 1.1K units, falling for the second consecutive year after two years of growth. In general, exports saw a sharp downturn. The growth pace was the most rapid in 2020 with an increase of 56% against the previous year. As a result, the exports reached the peak of 9.2K units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, plugs and socket exports fell notably to $497 in 2022. Overall, exports showed a sharp decrease. The most prominent rate of growth was recorded in 2020 with an increase of 50%. As a result, the exports reached the peak of $4.1K. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Plugs and Socket in Nepal (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,769 | 2,254 | 713 | 455 | -36.4% |
| Mexico | 236 | 245 | 63.0 | 33.0 | -48.1% |
| Canada | 662 | 1,447 | 2.0 | 2.0 | -85.5% |
| Switzerland | 8.0 | 7.0 | 2.0 | 1.0 | -50.0% |
| Others | 73.0 | 169 | 100 | 6.0 | -56.5% |
| Total | 2,748 | 4,122 | 880 | 497 | -43.4% |
Top Export Markets for Plugs and Socket from Nepal in 2022:
- United States (925.0 units)
- Mexico (161.0 units)
- Switzerland (19.0 units)
- Canada (1.0 units)
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