Price for Electric Motors; of an Output Not Exceeding 37.5W in Slovakia - 2023
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Slovakia (CIF) - 2023
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Slovakia (FOB) - 2023
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in Slovakia
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in Slovakia
Price for Electric Motors; of an Output Not Exceeding 37.5W in Slovakia (CIF) - 2023
The average import price for electric motors stood at $8.8 per unit in December 2023, growing by 8.3% against the previous month. Over the period from December 2022 to December 2023, it increased at an average monthly rate of +5.4%. The most prominent rate of growth was recorded in January 2023 an increase of 44% month-to-month. Over the period under review, average import prices reached the peak figure in December 2023.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Serbia ($8.9 per unit), while the price for Cambodia ($673 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 Slovenia (+20.9%), 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 Slovakia (FOB) - 2023
In December 2023, the average export price for electric motors amounted to $12.6 per unit, increasing by 15% against the previous month. Over the period from December 2022 to December 2023, it increased at an average monthly rate of +4.1%. The growth pace was the most rapid in April 2023 an increase of 46% m-o-m. The export price peaked in December 2023.
There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was the UK ($29.0 per unit), while the average price for exports to Mexico ($7.7 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 Italy (+21.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in Slovakia
In 2022, imports of electric motors into Slovakia contracted slightly to 38M units, with a decrease of -4.9% on the previous year. The total import volume increased at an average annual rate of +4.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 30% against the previous year. As a result, imports reached the peak of 40M units, and then dropped in the following year.
In value terms, imports of electric motors stood at $213M in 2022. In general, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +11.6% 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 +40.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 36%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in Slovakia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 26.1 | 35.0 | 61.2 | 59.0 | 31.2% |
| Austria | 25.2 | 23.7 | 25.5 | 22.9 | -3.1% |
| Czech Republic | 8.6 | 13.5 | 18.1 | 20.1 | 32.7% |
| Slovenia | 0.7 | 8.5 | 19.8 | 16.4 | 186.1% |
| South Korea | 16.4 | 14.1 | 13.3 | 14.1 | -4.9% |
| France | 1.1 | 6.2 | 9.1 | 12.7 | 126.0% |
| China | 29.0 | 8.2 | 10.5 | 11.2 | -27.2% |
| Switzerland | 7.3 | 7.6 | 9.1 | 10.8 | 13.9% |
| Hungary | 8.9 | 8.2 | 8.7 | 8.0 | -3.5% |
| Italy | 10.5 | 10.5 | 12.4 | 7.5 | -10.6% |
| Poland | 5.1 | 4.0 | 4.2 | 4.6 | -3.4% |
| Others | 13.7 | 11.9 | 14.6 | 25.2 | 22.5% |
| Total | 153 | 151 | 206 | 213 | 11.7% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to Slovakia in 2022:
- Germany (8.1M units)
- Switzerland (4.9M units)
- Austria (4.4M units)
- China (4.1M units)
- Czech Republic (3.0M units)
- Italy (2.1M units)
- Slovenia (2.1M units)
- South Korea (2.0M units)
- Hungary (1.9M units)
- France (1.2M units)
- Poland (0.4M units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in Slovakia
In 2022, approx. 15M units of electric motors were exported from Slovakia; growing by 3.6% on the year before. The total export volume increased at an average annual rate of +3.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 7.6%. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, exports of electric motors expanded sharply to $134M in 2022. The total export value increased at an average annual rate of +9.5% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 16% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in Slovakia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 39.2 | 30.9 | 31.6 | 29.4 | -9.1% |
| Italy | 1.1 | 8.5 | 7.2 | 15.3 | 140.5% |
| Hungary | 6.1 | 8.9 | 13.1 | 13.9 | 31.6% |
| China | 6.7 | 6.3 | 11.4 | 11.2 | 18.7% |
| Czech Republic | 4.9 | 9.0 | 7.1 | 8.8 | 21.6% |
| Romania | 2.6 | 4.5 | 6.0 | 7.0 | 39.1% |
| Turkey | 7.1 | 8.4 | 7.7 | 6.6 | -2.4% |
| United Kingdom | 11.4 | 6.3 | 4.7 | 6.1 | -18.8% |
| Portugal | 3.1 | 1.3 | 5.7 | 5.8 | 23.2% |
| United States | 5.2 | 7.6 | 8.0 | 4.1 | -7.6% |
| Spain | 0.2 | 1.4 | 3.5 | 4.0 | 171.4% |
| South Africa | N/A | 0.7 | 2.2 | 2.6 | 92.7% |
| Thailand | N/A | 0.2 | 0.7 | 2.6 | 260.6% |
| Others | 13.9 | 12.5 | 15.0 | 16.2 | 5.2% |
| Total | 102 | 106 | 124 | 134 | 9.5% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from Slovakia in 2022:
- Germany (3.6M units)
- Hungary (1.7M units)
- China (1.4M units)
- Czech Republic (1.3M units)
- Turkey (1.0M units)
- Italy (0.8M units)
- Romania (0.7M units)
- Portugal (0.7M units)
- United Kingdom (0.7M units)
- United States (0.5M units)
- Thailand (0.4M units)
- South Africa (0.3M units)
- Spain (0.3M units)
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