Seals; Mechanical Price in Turkey - 2023

Seals; Mechanical Price in Turkey (CIF) - 2023

The average seals; mechanical import price stood at $5.7 per unit in September 2023, picking up by 9.9% against the previous month. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 69% m-o-m. The import price peaked at $7.6 per unit in May 2023; however, from June 2023 to September 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($12.3 per unit), while the price for China ($2.3 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 Italy (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Seals; Mechanical Price in Turkey (FOB) - 2022

The average seals; mechanical export price stood at $4.5 per unit in 2022, waning by -12.9% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, seals; mechanical export price decreased by -30.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 60% against the previous year. As a result, the export price attained the peak level of $6.4 per unit. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($22 per unit), while the average price for exports to Hungary ($0.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Seals; Mechanical Imports in Turkey

In 2022, purchases abroad of seals; mechanicals decreased by -6.5% to 7.5M units for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +2.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 9.9% against the previous year. Imports peaked at 8M units in 2021, and then declined in the following year.

In value terms, seals; mechanical imports shrank slightly to $33M in 2022. The total import value increased at an average annual rate of +7.0% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 14% against the previous year. As a result, imports attained the peak of $33M, leveling off in the following year.

Import of Seals; Mechanical in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	7.4	7.4	10.0	9.8	9.8%
China	4.2	5.5	5.9	5.0	6.0%
Italy	2.0	1.8	4.0	4.2	28.1%
Netherlands	3.6	2.3	2.4	2.2	-15.1%
India	1.3	1.6	1.2	1.4	2.5%
South Korea	0.2	0.3	0.2	1.3	86.6%
Czech Republic	0.9	0.9	1.1	1.0	3.6%
Taiwan (Chinese)	0.2	0.4	0.8	0.8	58.7%
France	0.9	0.5	1.0	0.4	-23.7%
Others	6.5	8.7	6.8	7.2	3.5%
Total	27.2	29.3	33.3	33.3	7.0%

Top Suppliers of Seals; Mechanical to Turkey in 2022:

China (2468.3K units)
Germany (1047.6K units)
Italy (912.7K units)
India (671.6K units)
Netherlands (419.7K units)
Taiwan (Chinese) (367.9K units)
South Korea (285.2K units)
Czech Republic (227.9K units)
France (60.7K units)

Seals; Mechanical Exports in Turkey

In 2022, the amount of seals; mechanicals exported from Turkey fell slightly to 2M units, standing approx. at the previous year. Overall, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +16.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +61.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 63%. As a result, the exports reached the peak of 2M units, leveling off in the following year.

In value terms, seals; mechanical exports dropped to $9.1M in 2022. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +8.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 78% against the previous year. As a result, the exports reached the peak of $11M, and then declined in the following year.

Export of Seals; Mechanical in Turkey (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Iraq	1,104	568	531	1,075	-0.9%
Algeria	1,156	551	1,647	973	-5.6%
Egypt	826	542	1,289	782	-1.8%
Iran	38.2	263	146	608	151.5%
Russia	45.3	23.5	60.1	531	127.2%
Poland	22.7	8.7	7.9	470	174.6%
Italy	227	19.6	237	410	21.8%
Kazakhstan	15.5	13.7	24.9	273	160.2%
Germany	121	302	250	263	29.5%
Libya	14.4	23.8	22.1	163	124.5%
Kyrgyzstan	19.7	6.6	20.0	149	96.3%
Uzbekistan	85.1	131	232	94.2	3.4%
Hungary	0.5	0.2	1.3	50.2	364.8%
Others	3,472	3,435	6,036	3,236	-2.3%
Total	7,147	5,888	10,505	9,077	8.3%