Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in India - 2023

Contents:

1. Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in India (CIF) - 2022
2. Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in India (FOB) - 2023
3. Imports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in India
4. Exports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in India

Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in India (CIF) - 2022

The average import price for machines and mechanical appliances; parts, of those having individual functionses stood at $23,007 per ton in 2022, falling by -29.3% against the previous year. In general, the import price showed a pronounced slump. The growth pace was the most rapid in 2016 when the average import price increased by 28% against the previous year. As a result, import price reached the peak level of $44,311 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 Japan ($132,458 per ton), while the price for China ($9,618 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+13.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in India (FOB) - 2023

In November 2023, the average export price for machines and mechanical appliances; parts, of those having individual functionses amounted to $12,558 per ton, surging by 8.3% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in October 2023 when the average export price increased by 27% m-o-m. The export price peaked at $13,452 per ton in November 2022; however, from December 2022 to November 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In November 2023, the country with the highest price was Saudi Arabia ($37,680 per ton), while the average price for exports to Bangladesh ($3,069 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+12.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in India

In 2022, imports of machines and mechanical appliances; parts, of those having individual functionses into India surged to 18K tons, with an increase of 50% against 2021. In general, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +10.8% 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 +51.7% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of machines and mechanical appliances; parts, of those having individual functionses expanded rapidly to $415M in 2022. Overall, imports, however, continue to indicate a slight setback.

Top Suppliers of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions to India in 2022:

1. China (10.7K tons)
2. Germany (2.0K tons)
3. South Korea (1.1K tons)
4. Netherlands (0.7K tons)
5. Italy (0.6K tons)
6. United States (0.4K tons)
7. Malaysia (0.4K tons)
8. Belgium (0.3K tons)
9. Japan (0.2K tons)

Exports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in India

In 2022, the amount of machines and mechanical appliances; parts, of those having individual functionses exported from India skyrocketed to 19K tons, growing by 54% against 2021. Overall, exports saw a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of machines and mechanical appliances; parts, of those having individual functionses surged to $239M in 2022. The total export value increased at an average annual rate of +3.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 23%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions from India in 2022:

1. United States (5.6K tons)
2. United Arab Emirates (1.2K tons)
3. Thailand (1.0K tons)
4. Nepal (0.8K tons)
5. Malaysia (0.8K tons)
6. Egypt (0.6K tons)
7. Nigeria (0.6K tons)
8. Germany (0.6K tons)
9. Bangladesh (0.5K tons)
10. South Africa (0.4K tons)
11. Indonesia (0.4K tons)
12. China (0.4K tons)
13. Spain (0.3K tons)

Source: IndexBox Market Intelligence Platform