Plugs and Socket Price in South Africa - 2024
Contents:
- Plugs and Socket Price in South Africa (CIF) - 2024
- Plugs and Socket Price in South Africa (FOB) - 2022
- Plugs and Socket Imports in South Africa
- Plugs and Socket Exports in South Africa
Plugs and Socket Price in South Africa (CIF) - 2024
In July 2023, the average plugs and socket import price amounted to $107 per thousand units, rising by 21% against the previous month. Over the last four months, it increased at an average monthly rate of +2.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($403 per thousand units), while the price for China ($54.0 per thousand units) was amongst the lowest.
From March 2023 to July 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+111.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Plugs and Socket Price in South Africa (FOB) - 2022
In 2022, the average plugs and socket export price amounted to $0.2 per unit, surging by 2.4% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% 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 export price increased by +84.6% against 2018 indices. The pace of growth appeared the most rapid in 2019 an increase of 39% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.
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 UK ($0.3 per unit), while the average price for exports to Lesotho ($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 China (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.
Plugs and Socket Imports in South Africa
Plugs and socket imports into South Africa surged to 903M units in 2022, picking up by 16% against the year before. Overall, total imports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +15.1% 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 +52.4% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 24% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.
In value terms, plugs and socket imports expanded to $60M in 2022. The total import value increased at an average annual rate of +5.0% 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 36% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.
| Import of Plugs and Socket in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 24.0 | 19.0 | 24.8 | 29.8 | 7.5% |
| Germany | 5.5 | 5.0 | 6.2 | 5.8 | 1.8% |
| United States | 5.3 | 3.6 | 5.5 | 5.0 | -1.9% |
| France | 1.4 | 3.0 | 6.0 | 4.1 | 43.1% |
| Vietnam | 1.8 | 1.4 | 0.9 | 0.8 | -23.7% |
| Others | 14.2 | 11.4 | 15.6 | 15.0 | 1.8% |
| Total | 52.3 | 43.5 | 59.0 | 60.5 | 5.0% |
Top Suppliers of Plugs and Socket to South Africa in 2022:
- China (768.3M units)
- United States (34.6M units)
- Germany (18.6M units)
- France (14.1M units)
- Vietnam (9.5M units)
Plugs and Socket Exports in South Africa
In 2022, overseas shipments of electrical plugs and sockets for under 1000 v were finally on the rise to reach 51M units for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a slight downturn. Over the period under review, the exports reached the peak figure at 53M units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, plugs and socket exports surged to $8.3M in 2022. The total export value increased at an average annual rate of +8.5% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Plugs and Socket in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Namibia | 1,105 | 798 | 1,288 | 1,550 | 11.9% |
| Zambia | 544 | 310 | 538 | 690 | 8.2% |
| Zimbabwe | 553 | 662 | 656 | 607 | 3.2% |
| Swaziland | 472 | 297 | 471 | 440 | -2.3% |
| Botswana | 439 | 547 | 595 | 417 | -1.7% |
| United Kingdom | 56.0 | 53.3 | 180 | 406 | 93.5% |
| Democratic Republic of the Congo | 443 | 277 | 381 | 320 | -10.3% |
| Mozambique | 250 | 377 | 398 | 270 | 2.6% |
| Tanzania | 89.7 | 52.6 | 61.6 | 207 | 32.1% |
| Lesotho | 384 | 176 | 195 | 175 | -23.0% |
| Ghana | 178 | 34.2 | 181 | 133 | -9.3% |
| Uganda | 9.2 | 1,042 | 6.0 | 30.6 | 49.3% |
| Others | 1,988 | 2,311 | 2,124 | 3,076 | 15.7% |
| Total | 6,512 | 6,937 | 7,074 | 8,321 | 8.5% |
Top Export Markets for Plugs and Socket from South Africa in 2022:
- Namibia (13.1M units)
- Botswana (5.7M units)
- Zimbabwe (5.3M units)
- Swaziland (5.3M units)
- Zambia (4.5M units)
- Lesotho (2.8M units)
- Mozambique (2.6M units)
- Tanzania (1.8M units)
- United Kingdom (1.3M units)
- Democratic Republic of the Congo (1.3M units)
- Ghana (1.2M units)
- Uganda (0.1M units)
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