Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the United States - 2024

Contents:

1. Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the United States (CIF) - 2024
2. Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the United States (FOB) - 2022
3. Imports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the United States
4. Exports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the United States

Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the United States (CIF) - 2024

The average import price for machines and mechanical appliances; parts, of those having individual functionses stood at $14,797 per ton in February 2024, increasing by 25% against the previous month. Overall, the import price, however, showed a pronounced contraction. Over the period under review, average import prices reached the peak figure at $23,375 per ton in April 2023; however, from May 2023 to February 2024, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In February 2024, the country with the highest price was Germany ($103K per ton), while the price for Thailand ($2,041 per ton) was amongst the lowest.

From February 2023 to February 2024, the most notable rate of growth in terms of prices was attained by Germany (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

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

In 2022, the average export price for machines and mechanical appliances; parts, of those having individual functionses amounted to $81,899 per ton, growing by 8.1% against the previous year. In general, the export price recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 73%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($1,739,422 per ton), while the average price for exports to Belgium ($27,495 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 (+49.6%), 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 the United States

For the fourth year in a row, the United States recorded growth in supplies from abroad of machines and mechanical appliances; parts, of those having individual functionses, which increased by 23% to 272K tons in 2022. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of machines and mechanical appliances; parts, of those having individual functionses soared to $3.9B in 2022. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +15.5% 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 +59.3% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

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

1. China (67.2K tons)
2. Mexico (65.0K tons)
3. Switzerland (52.4K tons)
4. Germany (23.1K tons)
5. South Korea (9.4K tons)
6. Thailand (8.1K tons)
7. Taiwan (Chinese) (7.0K tons)
8. Canada (6.3K tons)
9. Italy (6.3K tons)
10. Japan (4.9K tons)
11. India (4.3K tons)

Exports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the United States

Exports of machines and mechanical appliances; parts, of those having individual functionses from the United States shrank modestly to 29K tons in 2022, which is down by -2.7% against the previous year. In general, exports continue to indicate a abrupt contraction. The smallest decline of -1.2% was in 2021.

In value terms, exports of machines and mechanical appliances; parts, of those having individual functionses expanded significantly to $2.4B in 2022. Overall, exports saw a noticeable downturn.

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

1. Mexico (17.2K tons)
2. China (1.5K tons)
3. Belgium (1.3K tons)
4. Germany (0.9K tons)
5. Taiwan (Chinese) (0.8K tons)
6. Sweden (0.5K tons)
7. United Kingdom (0.4K tons)
8. Japan (0.3K tons)
9. Canada (0.2K tons)
10. Netherlands (0.2K tons)

Source: IndexBox Market Intelligence Platform