Plugs and Socket Price in New Zealand - 2024

Plugs and Socket Price in New Zealand (CIF) - 2022

The average plugs and socket import price stood at $0.8 per unit in 2022, surging by 9.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2017 an increase of 11% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($0.8 per unit) and Australia ($0.8 per unit), while the price for Taiwan (Chinese) ($0.8 per unit) and Italy ($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 Vietnam (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Plugs and Socket Price in New Zealand (FOB) - 2024

In September 2023, the average plugs and socket export price amounted to $758 per thousand units, approximately reflecting the previous month. Over the period from March 2023 to September 2023, it increased at an average monthly rate of +3.1%. The most prominent rate of growth was recorded in August 2023 an increase of 20% against the previous month. As a result, the export price attained the peak level of $0.8 per unit, leveling off in the following month.

Average prices varied noticeably for the major export markets. In September 2023, the highest price was recorded for prices to Australia ($743 per thousand units) and Japan ($743 per thousand units), while the average price for exports to Singapore ($743 per thousand units) and China ($743 per thousand units) were amongst the lowest.

From March 2023 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Plugs and Socket Imports in New Zealand

Plugs and socket imports into New Zealand shrank sharply to 60M units in 2022, with a decrease of -33.2% on 2021. Overall, imports showed a noticeable shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 32% against the previous year. As a result, imports attained the peak of 90M units, and then contracted markedly in the following year.

In value terms, plugs and socket imports contracted dramatically to $46M in 2022. In general, total imports indicated pronounced growth from 2019 to 2022: its value increased at an average annual rate of +2.3% 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 +7.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 42% against the previous year. As a result, imports reached the peak of $63M, and then reduced dramatically in the following year.

Import of Plugs and Socket in New Zealand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	9.2	10.8	14.9	12.2	9.9%
Vietnam	11.8	12.2	17.6	9.4	-7.3%
Australia	6.5	6.1	8.6	6.4	-0.5%
United States	2.9	2.6	2.9	3.2	3.3%
Taiwan (Chinese)	1.6	2.0	3.0	3.1	24.7%
Germany	2.3	2.1	3.8	2.1	-3.0%
Poland	0.6	0.4	1.6	1.9	46.8%
Mexico	0.7	0.6	1.0	1.4	26.0%
Italy	0.5	0.5	0.8	0.8	17.0%
India	0.6	1.4	2.0	0.5	-5.9%
Others	6.2	5.5	6.7	4.9	-7.5%
Total	42.9	44.2	62.9	45.9	2.3%

Top Suppliers of Plugs and Socket to New Zealand in 2022:

China (15.9M units)
Vietnam (12.2M units)
Australia (8.4M units)
United States (4.2M units)
Taiwan (Chinese) (4.1M units)
Germany (2.8M units)
Poland (2.5M units)
Mexico (1.8M units)
Italy (1.0M units)
India (0.6M units)

Plugs and Socket Exports in New Zealand

In 2022, approx. 6.9M units of electrical plugs and sockets for under 1000 v were exported from New Zealand; waning by -12.2% compared with the previous year's figure. In general, total exports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +7.4% 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 +77.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 102% against the previous year. As a result, the exports reached the peak of 7.9M units, and then reduced in the following year.

In value terms, plugs and socket exports stood at $4.4M in 2022. Overall, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 96%. The exports peaked in 2022 and are expected to retain growth in years to come.

Export of Plugs and Socket in New Zealand (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Australia	898	1,051	1,958	2,321	37.2%
China	118	37.4	245	453	56.6%
United States	596	203	249	234	-26.8%
Japan	170	202	283	225	9.8%
Samoa	350	203	292	212	-15.4%
Fiji	136	107	194	137	0.2%
Tonga	16.1	38.3	215	127	99.1%
Netherlands	19.1	10.7	40.9	92.7	69.3%
India	4.3	0.8	11.9	87.2	172.7%
Singapore	39.4	37.3	25.6	82.0	27.7%
United Kingdom	36.9	17.4	37.7	66.5	21.7%
Cook Islands	125	49.5	89.1	52.9	-24.9%
Others	478	267	727	289	-15.4%
Total	2,988	2,224	4,368	4,380	13.6%