Pumps; Parts Thereof Price in Norway - 2023
Contents:
- Pumps; Parts Thereof Price in Norway (FOB) - 2023
- Pumps; Parts Thereof Price in Norway (CIF) - 2023
- Pumps; Parts Thereof Exports in Norway
- Pumps; Parts Thereof Imports in Norway
Pumps; Parts Thereof Price in Norway (FOB) - 2023
The average pumps; parts thereof export price stood at $115K per ton in August 2023, surging by 78% against the previous month. In general, the export price, however, saw a mild descent. Over the period under review, the average export prices hit record highs at $139K per ton in August 2022; however, from September 2022 to August 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In August 2023, the country with the highest price was South Korea ($318K per ton), while the average price for exports to Vietnam ($30,347 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.
Pumps; Parts Thereof Price in Norway (CIF) - 2023
The average pumps; parts thereof import price stood at $72,627 per ton in August 2023, surging by 13% 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 April 2023 when the average import price increased by 31% m-o-m. As a result, import price reached the peak level of $82,234 per ton. From May 2023 to August 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was the UK ($125K per ton), while the price for Hungary ($11,703 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by the UK (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Pumps; Parts Thereof Exports in Norway
In 2022, approx. 807 tons of pumps; parts thereoves were exported from Norway; shrinking by -40.7% against 2021 figures. Over the period under review, exports continue to indicate a precipitous descent. The smallest decline of -0.4% was in 2021.
In value terms, pumps; parts thereof exports shrank remarkably to $89M in 2022. In general, exports recorded a abrupt descent. The growth pace was the most rapid in 2021 when exports increased by 11%.
| Export of Pumps; Parts Thereof in Norway (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 26.2 | 27.4 | 24.5 | 20.2 | -8.3% |
| Singapore | 18.8 | 17.9 | 16.0 | 15.0 | -7.3% |
| Angola | 1.7 | 5.9 | 4.0 | 12.2 | 92.9% |
| United States | 8.4 | 5.5 | 18.9 | 5.2 | -14.8% |
| South Korea | 14.8 | 11.5 | 15.0 | 4.9 | -30.8% |
| United Kingdom | 3.5 | 3.6 | 6.6 | 3.6 | 0.9% |
| Vietnam | 3.3 | 3.3 | 3.1 | 3.4 | 1.0% |
| China | 15.2 | 13.0 | 7.0 | 2.6 | -44.5% |
| Denmark | 2.6 | 1.8 | 2.5 | 2.4 | -2.6% |
| Brazil | 3.5 | 2.7 | 2.8 | 2.2 | -14.3% |
| Japan | 8.1 | 3.3 | 3.0 | 1.5 | -43.0% |
| Germany | 1.3 | 1.7 | 1.8 | 1.4 | 2.5% |
| Spain | 0.7 | 0.4 | 0.3 | 1.4 | 26.0% |
| Others | 17.4 | 10.4 | 14.1 | 13.4 | -8.3% |
| Total | 125 | 108 | 120 | 89.4 | -10.6% |
Top Export Markets for Pumps; Parts Thereof from Norway in 2022:
- South Korea (115.1 tons)
- Netherlands (88.7 tons)
- Angola (78.9 tons)
- Vietnam (58.1 tons)
- Denmark (52.5 tons)
- Singapore (49.7 tons)
- United States (47.0 tons)
- China (33.2 tons)
- Brazil (30.0 tons)
- Japan (27.0 tons)
- United Kingdom (25.8 tons)
- Germany (23.3 tons)
- Spain (20.3 tons)
Pumps; Parts Thereof Imports in Norway
In 2022, imports of pumps; parts thereoves into Norway dropped to 1.8K tons, reducing by -5.4% compared with the previous year. In general, imports saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 1.5%.
In value terms, pumps; parts thereof imports expanded modestly to $108M in 2022. The total import value increased at an average annual rate of +6.4% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 25%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.
| Import of Pumps; Parts Thereof in Norway (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 0.1 | 0.1 | 17.1 | 24.7 | 527.4% |
| Germany | 19.4 | 18.1 | 18.7 | 19.2 | -0.3% |
| United States | 13.5 | 14.3 | 12.9 | 12.7 | -2.0% |
| United Kingdom | 10.6 | 10.2 | 12.6 | 9.5 | -3.6% |
| Italy | 5.9 | 6.5 | 7.9 | 7.2 | 6.9% |
| Sweden | 5.8 | 5.6 | 7.2 | 6.6 | 4.4% |
| Denmark | 5.3 | 6.3 | 5.9 | 5.8 | 3.1% |
| Netherlands | 8.6 | 7.4 | 6.8 | 4.9 | -17.1% |
| Spain | 5.5 | 2.7 | 2.4 | 2.8 | -20.2% |
| China | 0.8 | 1.1 | 1.0 | 1.5 | 23.3% |
| Others | 14.6 | 10.5 | 11.3 | 13.5 | -2.6% |
| Total | 90.1 | 83.0 | 104 | 108 | 6.2% |
Top Suppliers of Pumps; Parts Thereof to Norway in 2022:
- Germany (309.3 tons)
- Mexico (254.7 tons)
- Sweden (193.0 tons)
- Italy (169.1 tons)
- United States (146.7 tons)
- Denmark (128.7 tons)
- United Kingdom (109.3 tons)
- China (93.8 tons)
- Netherlands (79.0 tons)
- Spain (63.3 tons)
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