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

Contents:

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

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

In 2022, the average export price for machines and mechanical appliances; parts, of those having individual functionses amounted to $101,257 per ton, with an increase of 7.9% against the previous year. Over the period under review, the export price saw a prominent expansion. The growth pace was the most rapid in 2020 an increase of 37%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($214,929 per ton), while the average price for exports to Mexico ($27,580 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 Japan (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

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

The average import price for machines and mechanical appliances; parts, of those having individual functionses stood at $92,265 per ton in 2022, falling by -10.8% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the average import price increased by 22%. The import price peaked at $103,476 per ton in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($366,893 per ton), while the price for Australia ($43,199 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+29.4%), while the prices for the other major suppliers experienced more modest paces of growth.

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

In 2022, exports of machines and mechanical appliances; parts, of those having individual functionses from Singapore fell to 15K tons, waning by -11% on 2021 figures. Overall, exports continue to indicate a abrupt setback.

In value terms, exports of machines and mechanical appliances; parts, of those having individual functionses reduced to $1.5B in 2022. The total export value increased at an average annual rate of +5.7% over the period from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 12% against the previous year.

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

1. China (2.4K tons)
2. Malaysia (2.2K tons)
3. Indonesia (1.5K tons)
4. United States (1.4K tons)
5. South Korea (1.1K tons)
6. United Arab Emirates (0.8K tons)
7. Philippines (0.8K tons)
8. Mexico (0.7K tons)
9. Vietnam (0.7K tons)
10. Saudi Arabia (0.5K tons)
11. Australia (0.4K tons)
12. Thailand (0.4K tons)
13. Japan (0.3K tons)

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

In 2022, approx. 10K tons of machines and mechanical appliances; parts, of those having individual functionses were imported into Singapore; increasing by 7.2% on the previous year's figure. Over the period under review, imports, however, recorded a drastic downturn. The growth pace was the most rapid in 2021 with an increase of 7.5% against the previous year.

In value terms, imports of machines and mechanical appliances; parts, of those having individual functionses contracted to $955M in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 15%. As a result, imports attained the peak of $998M, and then fell slightly in the following year.

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

1. Malaysia (4723.6 tons)
2. China (1789.4 tons)
3. United States (1072.4 tons)
4. Germany (570.5 tons)
5. Japan (405.6 tons)
6. South Korea (300.8 tons)
7. Indonesia (256.9 tons)
8. Taiwan (Chinese) (184.2 tons)
9. Italy (174.5 tons)
10. Australia (168.8 tons)
11. Netherlands (86.3 tons)

Source: IndexBox Market Intelligence Platform