Seals; Mechanical Price in Saudi Arabia - 2021

Seals; Mechanical Price in Saudi Arabia (FOB) - 2022

In 2022, the average seals; mechanical export price amounted to $1.2 per unit, shrinking by -4% against the previous year. Over the period under review, the export price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2013 an increase of 40%. As a result, the export price reached the peak level of $2.2 per unit. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($2 per unit), while the average price for exports to Oman ($0.5 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 Qatar (+30.3%), while the prices for the other major destinations experienced more modest paces of growth.

Seals; Mechanical Exports in Saudi Arabia

After two years of decline, overseas shipments of seals; mechanicals increased by 81% to 1.5M units in 2022. Over the period under review, exports, however, showed a abrupt descent. The exports peaked at 2.9M units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, seals; mechanical exports skyrocketed to $1.9M in 2022. In general, exports, however, continue to indicate a abrupt downturn. Over the period under review, the exports reached the peak figure at $3.6M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Export of Seals; Mechanical in Saudi Arabia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Kuwait	1,376	1,778	160	1,040	-8.9%
United Arab Emirates	628	256	127	332	-19.1%
Oman	393	167	188	240	-15.2%
Bahrain	107	157	175	147	11.2%
Libya	133	147	154	132	-0.3%
South Korea	2.3	2.9	17.8	14.9	86.4%
Egypt	65.5	N/A	0.6	N/A	-90.4%
Iraq	653	50.7	N/A	N/A	-92.2%
Others	209	158	271	N/A	13.9%
Total	3,568	2,717	1,094	1,905	-18.9%