Seals; Mechanical Price in Thailand - 2023

Contents:

1. Seals; Mechanical Price in Thailand (CIF) - 2023
2. Seals; Mechanical Price in Thailand (FOB) - 2023
3. Seals; Mechanical Imports in Thailand
4. Seals; Mechanical Exports in Thailand

Seals; Mechanical Price in Thailand (CIF) - 2023

The average seals; mechanical import price stood at $4.4 per unit in September 2023, with an increase of 7.2% against the previous month. In general, import price indicated moderate growth from September 2022 to September 2023: its price increased at an average monthly rate of +3.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, seals; mechanical import price decreased by -27.5% against July 2023 indices. The growth pace was the most rapid in February 2023 an increase of 56% m-o-m. As a result, import price attained the peak level of $6.2 per unit. From March 2023 to September 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Germany ($14.6 per unit), while the price for Spain ($1.4 per unit) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Seals; Mechanical Price in Thailand (FOB) - 2023

The average seals; mechanical export price stood at $1.1 per unit in September 2023, increasing by 55% against the previous month. Overall, export price indicated moderate growth from September 2022 to September 2023: its price increased at an average monthly rate of +4.0% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, seals; mechanical export price increased by +54.6% against August 2023 indices. The pace of growth appeared the most rapid in May 2023 when the average export price increased by 122% m-o-m. As a result, the export price reached the peak level of $1.2 per unit. From June 2023 to September 2023, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Canada ($5.8 per unit), while the average price for exports to Japan ($494 per thousand units) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Seals; Mechanical Imports in Thailand

After three years of growth, overseas purchases of seals; mechanicals decreased by -1.4% to 6.5M units in 2022. The total import volume increased at an average annual rate of +4.7% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 8% against the previous year. Over the period under review, imports reached the maximum at 6.6M units in 2021, and then dropped modestly in the following year.

In value terms, seals; mechanical imports expanded remarkably to $21M in 2022. The total import value increased at an average annual rate of +1.9% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Seals; Mechanical to Thailand in 2022:

1. China (2850.2K units)
2. Japan (1373.7K units)
3. Singapore (866.7K units)
4. Taiwan (Chinese) (244.8K units)
5. South Korea (224.2K units)
6. Germany (188.3K units)
7. United Kingdom (155.4K units)
8. United States (137.7K units)
9. India (121.9K units)
10. Italy (72.5K units)

Seals; Mechanical Exports in Thailand

In 2022, approx. 7.5M units of seals; mechanicals were exported from Thailand; picking up by 55% against 2021 figures. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 99%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, seals; mechanical exports contracted to $6.2M in 2022. The total export value increased at an average annual rate of +3.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 34%. As a result, the exports attained the peak of $7M, and then contracted in the following year.

Top Export Markets for Seals; Mechanical from Thailand in 2022:

1. Myanmar (undefinedM units)
2. Japan (6.0M units)
3. Vietnam (0.5M units)
4. India (0.3M units)
5. Mexico (0.2M units)

Source: IndexBox Market Intelligence Platform