Life-Jackets and Life-Belts Price in Nepal - 2022

Life-Jackets and Life-Belts Price in Nepal (CIF) - 2022

The average life-jackets and life-belts import price stood at $39,955 per ton in 2022, with an increase of 5.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 12%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the UK ($40,016 per ton) and China ($39,974 per ton), while the price for Latvia ($39,789 per ton) and the United States ($39,926 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Life-Jackets and Life-Belts Price in Nepal (FOB) - 2022

In 2022, the average life-jackets and life-belts export price amounted to $93,383 per ton, jumping by 209% against the previous year. Overall, the export price enjoyed strong growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($146,848 per ton), while the average price for exports to Spain ($17,065 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 UK (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Life-Jackets and Life-Belts Imports in Nepal

In 2022, the amount of life-jackets and life-beltses imported into Nepal dropped sharply to 4.7 tons, waning by -47.8% on the previous year. In general, imports saw a precipitous descent. The growth pace was the most rapid in 2021 with an increase of 20% against the previous year.

In value terms, life-jackets and life-belts imports declined sharply to $188K in 2022. Over the period under review, imports faced a abrupt decline. The pace of growth was the most pronounced in 2021 when imports increased by 32% against the previous year.

Import of Life-Jackets and Life-Belts in Nepal (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	215	163	213	110	-20.0%
China	83.4	38.2	88.7	45.5	-18.3%
Italy	5.0	8.0	6.8	9.8	25.1%
United States	7.6	3.3	2.2	9.1	6.2%
United Kingdom	25.8	27.4	14.6	7.5	-33.8%
Latvia	1.2	2.1	2.1	3.8	46.8%
Others	14.4	16.5	13.8	2.7	-42.8%
Total	352	258	341	188	-18.9%

Top Suppliers of Life-Jackets and Life-Belts to Nepal in 2022:

India (2754.0 kg)
China (1138.0 kg)
Italy (244.0 kg)
United States (229.0 kg)
United Kingdom (188.0 kg)
Latvia (95.0 kg)

Life-Jackets and Life-Belts Exports in Nepal

For the third year in a row, Nepal recorded decline in overseas shipments of life-jackets and life-beltses, which decreased by -58.3% to 313 kg in 2022. In general, exports faced a significant curtailment. The smallest decline of -16.8% was in 2020.

In value terms, life-jackets and life-belts exports soared to $29K in 2022. Overall, exports faced a deep contraction.

Export of Life-Jackets and Life-Belts in Nepal (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Kingdom	8.4	11.7	1.9	15.4	22.4%
Canada	0.9	5.3	10.5	13.2	144.8%
Spain	39.3	17.8	9.6	0.5	-76.7%
Others	0.4	1.0	0.6	0.1	-37.0%
Total	48.9	35.8	22.7	29.2	-15.8%