Price for Electrical Insulators of Any Material in South Africa - 2023

Contents:

1. Price for Electrical Insulators of Any Material in South Africa (CIF) - 2023
2. Price for Electrical Insulators of Any Material in South Africa (FOB) - 2022
3. Imports of Electrical Insulators of Any Material in South Africa
4. Exports of Electrical Insulators of Any Material in South Africa

Price for Electrical Insulators of Any Material in South Africa (CIF) - 2023

In December 2023, the average import price for electrical insulators of any materials amounted to $278 per thousand units, reducing by -29.7% against the previous month. Over the period under review, the import price continues to indicate a mild reduction. The growth pace was the most rapid in May 2023 an increase of 84% against the previous month. As a result, import price reached the peak level of $0.5 per unit. From June 2023 to December 2023, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In December 2023, the country with the highest price was India ($216 per thousand units), while the price for China amounted to $177 per thousand units.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by China (-0.6%).

Price for Electrical Insulators of Any Material in South Africa (FOB) - 2022

In 2022, the average export price for electrical insulators of any materials amounted to $0.6 per unit, surging by 8.3% against the previous year. In general, the export price, however, continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2017 an increase of 28% against the previous year. Over the period under review, the average export prices attained the peak figure at $0.8 per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($0.9 per unit), while the average price for exports to Malawi ($0.2 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 Zambia (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Insulators of Any Material in South Africa

In 2022, the amount of electrical insulators of any materials imported into South Africa skyrocketed to 55M units, picking up by 26% compared with 2021. The total import volume increased at an average annual rate of +2.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, electrical insulators of any material imports surged to $13M in 2022. In general, imports, however, saw a mild shrinkage. Over the period under review, imports reached the peak figure at $13M in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Top Suppliers of Electrical Insulators of Any Material to South Africa in 2022:

1. China (49.2M units)
2. India (2.3M units)
3. Russia (1.8M units)

Exports of Electrical Insulators of Any Material in South Africa

Electrical insulators of any material exports from South Africa declined to 19M units in 2022, falling by -10.6% against 2021 figures. In general, exports saw a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of 4.1% against the previous year. Over the period under review, the exports hit record highs at 27M units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, electrical insulators of any material exports declined slightly to $11M in 2022. Overall, exports saw a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 9.8%. Over the period under review, the exports attained the maximum at $18M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Top Export Markets for Electrical Insulators of Any Material from South Africa in 2022:

1. Australia (3.8M units)
2. Poland (3.2M units)
3. United States (2.0M units)
4. Mozambique (1.6M units)
5. Democratic Republic of the Congo (1.1M units)
6. Namibia (1.1M units)
7. Zambia (0.9M units)
8. Swaziland (0.7M units)
9. Botswana (0.6M units)
10. Malawi (0.5M units)
11. Zimbabwe (0.5M units)
12. Germany (0.5M units)
13. United Arab Emirates (0.4M units)

Source: IndexBox Market Intelligence Platform