Price for Electric Motors; of an Output Not Exceeding 37.5W in Mexico - 2023
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Mexico (CIF) - 2023
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Mexico (FOB) - 2023
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in Mexico
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in Mexico
Price for Electric Motors; of an Output Not Exceeding 37.5W in Mexico (CIF) - 2023
The average import price for electric motors stood at $3.6 per unit in December 2023, with an increase of 5.1% against the previous month. Over the period from December 2022 to December 2023, it increased at an average monthly rate of +1.2%. The most prominent rate of growth was recorded in August 2023 an increase of 16% month-to-month. As a result, import price reached the peak level of $3.7 per unit. From September 2023 to December 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was the United States ($13.1 per unit), while the price for Vietnam ($810 per thousand units) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Germany (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Electric Motors; of an Output Not Exceeding 37.5W in Mexico (FOB) - 2023
In December 2023, the average export price for electric motors amounted to $8.6 per unit, growing by 2.5% against the previous month. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 an increase of 5.9% against the previous month. The export price peaked at $8.7 per unit in June 2023; however, from July 2023 to December 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In December 2023, the country with the highest price was the United States ($9.0 per unit), while the average price for exports to Canada ($4.7 per unit) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.6%), while the prices for the other major destinations experienced a decline.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in Mexico
For the fourth consecutive year, Mexico recorded growth in supplies from abroad of electric motors, which increased by 0.6% to 196M units in 2022. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 519%. Imports peaked in 2022 and are likely to continue growth in the immediate term.
In value terms, imports of electric motors rose significantly to $743M in 2022. The total import value increased at an average annual rate of +4.2% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 24%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the near future.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 240 | 207 | 284 | 321 | 10.2% |
| United States | 115 | 95.3 | 107 | 117 | 0.6% |
| Vietnam | 60.9 | 51.3 | 63.9 | 62.0 | 0.6% |
| Thailand | 33.6 | 30.8 | 41.4 | 33.7 | 0.1% |
| South Korea | 33.6 | 26.8 | 40.2 | 30.4 | -3.3% |
| Japan | 16.1 | 13.3 | 23.4 | 30.3 | 23.5% |
| Switzerland | 11.1 | 20.2 | 27.9 | 30.2 | 39.6% |
| Germany | 38.7 | 32.2 | 28.3 | 26.3 | -12.1% |
| India | 27.1 | 15.6 | 19.9 | 14.5 | -18.8% |
| Cambodia | N/A | 1.8 | N/A | 2.8 | 24.7% |
| Others | 80.5 | 72.3 | 67.3 | 74.6 | -2.5% |
| Total | 657 | 566 | 703 | 743 | 4.2% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to Mexico in 2022:
- China (94.4M units)
- Vietnam (32.2M units)
- United States (10.9M units)
- Germany (10.1M units)
- Thailand (9.1M units)
- Switzerland (8.2M units)
- South Korea (6.0M units)
- Japan (5.2M units)
- India (5.0M units)
- Cambodia (4.6M units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in Mexico
In 2022, exports of electric motors from Mexico contracted to 79M units, standing approx. at the previous year. In general, exports continue to indicate a perceptible reduction. The growth pace was the most rapid in 2021 when exports increased by 7.5%. The exports peaked at 90M units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, exports of electric motors reached $654M in 2022. Overall, exports continue to indicate a noticeable descent. The exports peaked at $736M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 659 | 534 | 559 | 594 | -3.4% |
| Canada | 20.6 | 19.9 | 26.4 | 27.1 | 9.6% |
| Brazil | 15.0 | 13.9 | 17.0 | 15.3 | 0.7% |
| Others | 41.1 | 29.1 | 17.1 | 18.4 | -23.5% |
| Total | 736 | 597 | 619 | 654 | -3.9% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from Mexico in 2022:
- United States (69.8M units)
- Canada (5.4M units)
- Brazil (2.1M units)
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