Price for Hand-Operated Spanners and Wrenches in China - 2023
Contents:
- Price for Hand-Operated Spanners and Wrenches in China (FOB) - 2022
- Price for Hand-Operated Spanners and Wrenches in China (CIF) - 2022
- Exports of Hand-Operated Spanners and Wrenches in China
- Imports of Hand-Operated Spanners and Wrenches in China
Price for Hand-Operated Spanners and Wrenches in China (FOB) - 2022
In 2022, the average hand-operated spanners and wrenches export price amounted to $4,985 per ton, with a decrease of -2.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2014 an increase of 12% against the previous year. Over the period under review, the average export prices hit record highs at $5,101 per ton in 2021, and then dropped slightly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($5,504 per ton), while the average price for exports to Indonesia ($3,507 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Hand-Operated Spanners and Wrenches in China (CIF) - 2022
The average hand-operated spanners and wrenches import price stood at $6,759 per ton in 2022, growing by 24% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 66%. As a result, import price attained the peak level of $11,385 per ton. From 2017 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($5,275 per ton), while the price for India ($3,261 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.3%), while the prices for the other major suppliers experienced a decline.
Exports of Hand-Operated Spanners and Wrenches in China
For the fourth consecutive year, China recorded growth in overseas shipments of hand-operated spanners and wrencheses, which increased by 7.3% to 277K tons in 2022. The total export volume increased at an average annual rate of +10.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 26%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.
In value terms, hand-operated spanners and wrenches exports reached $1.4B in 2022. Overall, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +13.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 35%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.
| Export of Hand-Operated Spanners and Wrenches in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 290 | 298 | 388 | 400 | 11.3% |
| Russia | 30.9 | 30.6 | 40.4 | 48.3 | 16.1% |
| Canada | 30.6 | 44.5 | 43.2 | 47.0 | 15.4% |
| Germany | 30.1 | 30.0 | 40.9 | 40.0 | 9.9% |
| Indonesia | 25.9 | 26.9 | 28.8 | 39.0 | 14.6% |
| Mexico | 17.8 | 18.1 | 28.9 | 35.7 | 26.1% |
| Vietnam | 26.8 | 30.7 | 44.9 | 35.5 | 9.8% |
| Netherlands | 21.8 | 15.9 | 24.6 | 34.9 | 17.0% |
| Taiwan (Chinese) | 22.0 | 23.8 | 41.2 | 33.2 | 14.7% |
| Poland | 22.7 | 21.7 | 29.4 | 32.2 | 12.4% |
| Thailand | 18.5 | 23.9 | 31.0 | 32.2 | 20.3% |
| Brazil | 19.1 | 24.3 | 31.7 | 30.5 | 16.9% |
| India | 18.6 | 17.5 | 26.0 | 29.1 | 16.1% |
| Others | 367 | 366 | 515 | 541 | 13.8% |
| Total | 943 | 972 | 1,315 | 1,379 | 13.5% |
Top Export Markets for Hand-Operated Spanners and Wrenches from China in 2022:
- United States (72.7K tons)
- Indonesia (11.1K tons)
- Russia (11.0K tons)
- Canada (9.2K tons)
- Mexico (8.5K tons)
- Germany (8.0K tons)
- Brazil (7.7K tons)
- Poland (7.7K tons)
- Vietnam (7.1K tons)
- Netherlands (6.9K tons)
- Taiwan (Chinese) (6.9K tons)
- Thailand (6.9K tons)
- India (6.5K tons)
Imports of Hand-Operated Spanners and Wrenches in China
In 2022, overseas purchases of hand-operated spanners and wrencheses decreased by -30.4% to 19K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +8.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 43%. As a result, imports reached the peak of 28K tons, and then shrank markedly in the following year.
In value terms, hand-operated spanners and wrenches imports reduced to $129M in 2022. The total import value increased at an average annual rate of +7.3% 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 when imports increased by 38%. As a result, imports reached the peak of $150M, and then contracted in the following year.
| Import of Hand-Operated Spanners and Wrenches in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 63.6 | 72.9 | 97.6 | 84.6 | 10.0% |
| Vietnam | N/A | 0.8 | 9.3 | 5.5 | 162.2% |
| Italy | 3.7 | 3.6 | 5.2 | 2.7 | -10.0% |
| India | 2.4 | 1.5 | 1.9 | 1.4 | -16.4% |
| Others | 35.1 | 29.9 | 35.5 | 35.3 | 0.2% |
| Total | 105 | 109 | 150 | 129 | 7.1% |
Top Suppliers of Hand-Operated Spanners and Wrenches to China in 2022:
- Taiwan (Chinese) (16.8K tons)
- Vietnam (1.0K tons)
- India (0.4K tons)
- Italy (0.2K tons)
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