Price for Machinery; Parts of the Machinery of Heading No. 8425 in India - 2023

Contents:

1. Price for Machinery; Parts of the Machinery of Heading No. 8425 in India (CIF) - 2022
2. Price for Machinery; Parts of the Machinery of Heading No. 8425 in India (FOB) - 2022
3. Imports of Machinery; Parts of the Machinery of Heading No. 8425 in India
4. Exports of Machinery; Parts of the Machinery of Heading No. 8425 in India

Price for Machinery; Parts of the Machinery of Heading No. 8425 in India (CIF) - 2022

The average import price for machinery; parts of the machinery of heading no. 8425 stood at $11,939 per ton in 2022, increasing by 50% against the previous year. In general, the import price, however, saw a abrupt decline. Over the period under review, average import prices attained the maximum at $25,279 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($176,019 per ton), while the price for China ($2,594 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Machinery; Parts of the Machinery of Heading No. 8425 in India (FOB) - 2022

In 2022, the average export price for machinery; parts of the machinery of heading no. 8425 amounted to $5,113 per ton, therefore, remained relatively stable against the previous year. In general, the export price, however, saw a pronounced decline. The pace of growth was the most pronounced in 2017 when the average export price increased by 46% against the previous year. The export price peaked at $8,304 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($16,245 per ton), while the average price for exports to Bhutan ($2,635 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 Canada (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machinery; Parts of the Machinery of Heading No. 8425 in India

Imports of machinery; parts of the machinery of heading no. 8425 into India skyrocketed to 1.5K tons in 2022, increasing by 19% on 2021. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +13.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 50% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of machinery; parts of the machinery of heading no. 8425 soared to $18M in 2022. Overall, imports saw a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Machinery; Parts of the Machinery of Heading No. 8425 to India in 2022:

1. China (992.1 tons)
2. Malaysia (116.7 tons)
3. United States (71.1 tons)
4. Germany (60.9 tons)
5. South Korea (47.6 tons)
6. Thailand (46.6 tons)
7. Netherlands (39.8 tons)
8. Japan (29.1 tons)
9. Singapore (13.0 tons)
10. Nepal (1.7 tons)

Exports of Machinery; Parts of the Machinery of Heading No. 8425 in India

In 2022, approx. 3.3K tons of machinery; parts of the machinery of heading no. 8425 were exported from India; growing by 4.7% compared with the year before. Over the period under review, total exports indicated a noticeable increase from 2019 to 2022: its volume increased at an average annual rate of +4.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 47%. Over the period under review, the exports of machinery; parts of machinery of heading no. 8425 hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, exports of machinery; parts of the machinery of heading no. 8425 totaled $17M in 2022. In general, exports, however, saw a abrupt slump.

Top Export Markets for Machinery; Parts of the Machinery of Heading No. 8425 from India in 2022:

1. United States (750.2 tons)
2. Italy (557.3 tons)
3. United Kingdom (434.9 tons)
4. Germany (251.7 tons)
5. United Arab Emirates (247.9 tons)
6. Nepal (137.7 tons)
7. Finland (111.6 tons)
8. Canada (54.1 tons)
9. Malaysia (52.5 tons)
10. Maldives (52.2 tons)
11. Kuwait (51.6 tons)
12. Netherlands (50.5 tons)
13. Nigeria (40.7 tons)

Source: IndexBox Market Intelligence Platform