Price for Hand-Operated Spanners and Wrenches in Australia - 2023
Contents:
- Price for Hand-Operated Spanners and Wrenches in Australia (CIF) - 2022
- Price for Hand-Operated Spanners and Wrenches in Australia (FOB) - 2022
- Imports of Hand-Operated Spanners and Wrenches in Australia
- Exports of Hand-Operated Spanners and Wrenches in Australia
Price for Hand-Operated Spanners and Wrenches in Australia (CIF) - 2022
The average hand-operated spanners and wrenches import price stood at $14,906 per ton in 2022, growing by 12% against the previous year. In general, the import price recorded temperate growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by 29% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in years to come.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($18,747 per ton) and Spain ($17,185 per ton), while the price for Taiwan (Chinese) ($14,608 per ton) and India ($14,920 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+14.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Hand-Operated Spanners and Wrenches in Australia (FOB) - 2022
In 2022, the average hand-operated spanners and wrenches export price amounted to $25,694 per ton, which is down by -2% against the previous year. Over the period under review, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hand-operated spanners and wrenches export price increased by +60.2% against 2015 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 26%. The export price peaked at $26,231 per ton in 2021, and then fell in the following year.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Vietnam ($29,135 per ton) and Ghana ($27,801 per ton), while the average price for exports to the UK ($24,464 per ton) and New Zealand ($24,490 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Hand-Operated Spanners and Wrenches in Australia
In 2022, hand-operated spanners and wrenches imports into Australia amounted to 8.2K tons, picking up by 14% compared with 2021. The total import volume increased at an average annual rate of +9.0% over the period 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. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, hand-operated spanners and wrenches imports soared to $123M in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +19.8% 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 +72.7% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 36%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.
| Import of Hand-Operated Spanners and Wrenches in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 33.9 | 34.7 | 49.4 | 62.8 | 22.8% |
| China | 17.8 | 17.2 | 23.5 | 29.8 | 18.7% |
| United States | 11.5 | 11.2 | 13.7 | 17.4 | 14.8% |
| United Kingdom | 1.7 | 1.8 | 2.1 | 2.7 | 16.7% |
| Germany | 1.5 | 1.5 | 2.0 | 2.6 | 20.1% |
| India | 1.2 | 0.8 | 1.5 | 1.9 | 16.6% |
| Others | 3.9 | 3.9 | 4.5 | 5.6 | 12.8% |
| Total | 71.5 | 71.1 | 96.8 | 123 | 19.8% |
Top Suppliers of Hand-Operated Spanners and Wrenches to Australia in 2022:
- Taiwan (Chinese) (4.3K tons)
- China (2.0K tons)
- United States (1.2K tons)
- United Kingdom (0.2K tons)
- India (0.1K tons)
- Germany (0.1K tons)
Exports of Hand-Operated Spanners and Wrenches in Australia
For the fourth consecutive year, Australia recorded growth in overseas shipments of hand-operated spanners and wrencheses, which increased by 47% to 353 tons in 2022. Over the period under review, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, hand-operated spanners and wrenches exports surged to $9.1M in 2022. Overall, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Hand-Operated Spanners and Wrenches in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 1,496 | 1,835 | 2,026 | 2,829 | 23.7% |
| Vietnam | 9.9 | 1,076 | 1,616 | 2,255 | 510.7% |
| Papua New Guinea | 1,010 | 724 | 758 | 1,132 | 3.9% |
| United States | 394 | 256 | 364 | 508 | 8.8% |
| Japan | 45.0 | 48.6 | 213 | 298 | 87.8% |
| Indonesia | 254 | 91.4 | 168 | 233 | -2.8% |
| United Kingdom | 39.3 | 28.8 | 142 | 198 | 71.4% |
| Ghana | 37.7 | 67.6 | 140 | 195 | 72.9% |
| Singapore | 61.6 | 111 | 135 | 189 | 45.3% |
| New Caledonia | 259 | 27.7 | 5.1 | 132 | -20.1% |
| Others | 798 | 821 | 733 | 1,109 | 11.6% |
| Total | 4,404 | 5,088 | 6,300 | 9,078 | 27.3% |
Top Export Markets for Hand-Operated Spanners and Wrenches from Australia in 2022:
- New Zealand (115.5 tons)
- Vietnam (77.4 tons)
- Papua New Guinea (44.0 tons)
- United States (20.1 tons)
- Japan (11.6 tons)
- Indonesia (9.5 tons)
- United Kingdom (8.1 tons)
- Singapore (7.6 tons)
- Ghana (7.0 tons)
- New Caledonia (5.3 tons)
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