Pumps; Parts Thereof Price in Pakistan - 2023

Pumps; Parts Thereof Price in Pakistan (CIF) - 2023

The average pumps; parts thereof import price stood at $27,307 per ton in February 2023, with a decrease of -12.3% against the previous month. Over the period under review, the import price continues to indicate a perceptible descent. The growth pace was the most rapid in October 2022 when the average import price increased by 28% month-to-month. Over the period under review, average import prices reached the maximum at $44,354 per ton in February 2022; however, from March 2022 to February 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In February 2023, the highest price was recorded for prices from Italy ($30,086 per ton) and Germany ($29,086 per ton), while the price for Finland ($23,216 per ton) and China ($26,769 per ton) were amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Brazil (-0.1%), while the prices for the other major suppliers experienced a decline.

Pumps; Parts Thereof Price in Pakistan (FOB) - 2022

In 2022, the average pumps; parts thereof export price amounted to $5,963 per ton, growing by 10% against the previous year. Over the period under review, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pumps; parts thereof export price increased by +33.9% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of 45% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($15,383 per ton), while the average price for exports to Saudi Arabia ($3,961 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 the Philippines (+30.1%), while the prices for the other major destinations experienced more modest paces of growth.

Pumps; Parts Thereof Imports in Pakistan

In 2022, the amount of pumps; parts thereoves imported into Pakistan expanded rapidly to 733 tons, increasing by 8.4% compared with 2021. In general, imports, however, saw a deep downturn. The pace of growth was the most pronounced in 2020 with an increase of 64% against the previous year. As a result, imports attained the peak of 1.6K tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, pumps; parts thereof imports contracted to $25M in 2022. Overall, imports, however, recorded a abrupt contraction. The pace of growth was the most pronounced in 2020 with an increase of 98% against the previous year. As a result, imports attained the peak of $62M. From 2021 to 2022, the growth of imports failed to regain momentum.

Import of Pumps; Parts Thereof in Pakistan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	13.6	47.6	13.3	14.2	1.4%
United States	4.9	4.6	3.0	2.4	-21.2%
United Arab Emirates	2.6	2.1	3.0	1.8	-11.5%
Brazil	1.6	1.1	2.2	1.4	-4.4%
Germany	2.0	1.5	1.9	1.2	-15.7%
Japan	1.3	0.8	0.9	0.6	-22.7%
Italy	0.8	1.1	0.8	0.5	-14.5%
United Kingdom	0.8	0.9	0.7	0.5	-14.5%
Others	3.6	2.3	3.5	2.3	-13.9%
Total	31.2	62.0	29.3	24.9	-7.2%

Top Suppliers of Pumps; Parts Thereof to Pakistan in 2022:

China (452.7 tons)
United States (66.9 tons)
United Arab Emirates (46.6 tons)
Brazil (33.3 tons)
Germany (29.5 tons)
Italy (14.9 tons)
United Kingdom (13.5 tons)
Japan (13.3 tons)

Pumps; Parts Thereof Exports in Pakistan

In 2022, approx. 342 tons of pumps; parts thereoves were exported from Pakistan; declining by -26.4% against the previous year's figure. Over the period under review, exports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by 82%. As a result, the exports reached the peak of 465 tons, and then dropped rapidly in the following year.

In value terms, pumps; parts thereof exports dropped significantly to $2M in 2022. In general, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 121%. As a result, the exports reached the peak of $2.5M, and then shrank rapidly in the following year.

Export of Pumps; Parts Thereof in Pakistan (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	3.2	33.0	1,118	903	555.9%
Germany	127	203	398	321	36.2%
South Africa	336	287	271	219	-13.3%
Afghanistan	0.2	309	256	206	909.9%
Turkey	12.3	32.8	114	92.3	95.8%
United Arab Emirates	69.3	6.9	38.3	30.9	-23.6%
Italy	44.8	20.9	34.5	27.8	-14.7%
Saudi Arabia	93.9	12.7	2.9	23.9	-36.6%
Australia	52.1	1.1	14.0	15.2	-33.7%
Others	643	232	266	200	-32.2%
Total	1,382	1,138	2,514	2,040	13.9%