Price for Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Pakistan - 2023

Contents:

1. Price for Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Pakistan (CIF) - 2022
2. Price for Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Pakistan (FOB) - 2022
3. Imports of Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Pakistan
4. Exports of Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Pakistan

Price for Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Pakistan (CIF) - 2022

In 2022, the average import price for millstones, grindstones, grinding wheels and the like; of natural stones amounted to $0.4 per unit, rising by 27% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for millstones, grindstones, grinding wheels and the like; of natural stones increased by +58.5% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 56% against the previous year. Over the period under review, average import prices hit record highs at $0.5 per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($0.5 per unit), while the price for China ($0.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Pakistan (FOB) - 2022

In 2022, the average export price for millstones, grindstones, grinding wheels and the like; of natural stones amounted to $9.2 per thousand units, falling by -70.6% against the previous year. In general, the export price showed a deep slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 116% against the previous year. As a result, the export price reached the peak level of $52 per thousand units. From 2017 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($9.3 per thousand units), while the average price for exports to the United Arab Emirates amounted to $9 per thousand units.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+23.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Pakistan

Imports of millstones, grindstones, grinding wheels and the like; of natural stones into Pakistan dropped remarkably to 1.1M units in 2022, falling by -45.8% against 2021 figures. In general, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by 86% against the previous year. As a result, imports attained the peak of 2.1M units, and then fell dramatically in the following year.

In value terms, imports of millstones, grindstones, grinding wheels and the like; of natural stones fell notably to $441K in 2022. Overall, imports showed a mild decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 48% against the previous year. As a result, imports reached the peak of $641K, and then shrank markedly in the following year.

Top Suppliers of Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone to Pakistan in 2022:

1. Japan (671.8K units)
2. Turkey (173.0K units)
3. China (162.2K units)
4. Poland (38.5K units)
5. Sweden (22.3K units)
6. Thailand (11.8K units)
7. Taiwan (Chinese) (6.5K units)

Exports of Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Pakistan

In 2022, approx. 6.5M units of millstones, grindstones, grinding wheels and the like; of natural stones were exported from Pakistan; growing by 629% compared with the previous year. Over the period under review, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of millstones, grindstones, grinding wheels and the like; of natural stones surged to $60K in 2022. Overall, exports, however, showed a deep setback. Over the period under review, the exports of millstones, grindstones, grinding wheels and like; of natural stones hit record highs at $74K in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Top Export Markets for Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone from Pakistan in 2022:

1. Saudi Arabia (4.8M units)
2. United Arab Emirates (1.7M units)

Source: IndexBox Market Intelligence Platform