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

Contents:

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

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

The average import price for machines and mechanical appliances; parts, of those having individual functionses stood at $22,268 per ton in August 2023, with an increase of 2.2% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in July 2023 when the average import price increased by 22% m-o-m. Over the period under review, average import prices hit record highs at $34,303 per ton in January 2023; however, from February 2023 to August 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In August 2023, the highest price was recorded for prices from the United Arab Emirates ($26,870 per ton) and Germany ($24,119 per ton), while the price for South Korea ($19,744 per ton) and Japan ($20,724 per ton) were amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.7%), 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 Pakistan (FOB) - 2022

The average export price for machines and mechanical appliances; parts, of those having individual functionses stood at $6,831 per ton in 2022, jumping by 34% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 79%. Over the period under review, the average export prices hit record highs at $12,719 per ton in 2013; however, from 2014 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 Oman ($102,768 per ton), while the average price for exports to Japan ($3,882 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 Mexico (+47.0%), 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 Pakistan

In 2022, approx. 598 tons of machines and mechanical appliances; parts, of those having individual functionses were imported into Pakistan; rising by 33% compared with the previous year's figure. Overall, imports showed significant growth. The growth pace was the most rapid in 2020 with an increase of 236% against the previous year. As a result, imports attained the peak of 1K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of machines and mechanical appliances; parts, of those having individual functionses reduced to $17M in 2022. In general, imports, however, continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 80% against the previous year. As a result, imports attained the peak of $35M. From 2021 to 2022, the growth of imports of failed to regain momentum.

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

1. China (399.6 tons)
2. United States (37.2 tons)
3. Japan (31.6 tons)
4. South Korea (16.3 tons)
5. Singapore (15.4 tons)
6. Germany (13.0 tons)
7. Italy (12.4 tons)
8. United Arab Emirates (9.5 tons)

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

In 2022, the amount of machines and mechanical appliances; parts, of those having individual functionses exported from Pakistan surged to 101 tons, picking up by 43% compared with the previous year. Over the period under review, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +5.3% 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 +64.4% against 2020 indices. As a result, the exports reached 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 $691K in 2022. Overall, exports, however, showed a noticeable downturn.

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

1. Singapore (34.4 tons)
2. Ghana (23.9 tons)
3. Kenya (7.5 tons)
4. United Arab Emirates (7.1 tons)
5. Mexico (5.3 tons)
6. Mozambique (5.2 tons)
7. Saudi Arabia (4.5 tons)
8. Afghanistan (2.5 tons)
9. Italy (1.2 tons)
10. United States (0.4 tons)

Source: IndexBox Market Intelligence Platform