Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Singapore - 2023

Contents:

1. Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Singapore (CIF) - 2022
2. Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Singapore (FOB) - 2022
3. Imports of Cycles; Parts Thereof, Wheel Rims and Spokes in Singapore
4. Exports of Cycles; Parts Thereof, Wheel Rims and Spokes in Singapore

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Singapore (CIF) - 2022

In 2022, the average import price for cycles; parts thereof, wheel rims and spokeses amounted to $3,566 per ton, surging by 9.7% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 77%. As a result, import price attained the peak level of $6,511 per ton. From 2020 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($3,980 per ton), while the price for China ($661 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.1%), while the prices for the other major suppliers experienced a decline.

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Singapore (FOB) - 2022

The average export price for cycles; parts thereof, wheel rims and spokeses stood at $51,179 per ton in 2022, jumping by 15% against the previous year. In general, the export price recorded a remarkable increase. The pace of growth appeared the most rapid in 2016 an increase of 96% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($414,545 per ton), while the average price for exports to the Philippines ($3,758 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 United States (+33.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cycles; Parts Thereof, Wheel Rims and Spokes in Singapore

For the fourth consecutive year, Singapore recorded growth in purchases abroad of cycles; parts thereof, wheel rims and spokeses, which increased by 17% to 11K tons in 2022. Over the period under review, imports showed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 190%. Over the period under review, imports of reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of cycles; parts thereof, wheel rims and spokeses soared to $38M in 2022. Overall, imports enjoyed significant growth. The growth pace was the most rapid in 2020 when imports increased by 96% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Cycles; Parts Thereof, Wheel Rims and Spokes to Singapore in 2022:

1. Malaysia (8.9K tons)
2. China (1.0K tons)
3. United States (0.7K tons)

Exports of Cycles; Parts Thereof, Wheel Rims and Spokes in Singapore

In 2022, exports of cycles; parts thereof, wheel rims and spokeses from Singapore surged to 714 tons, picking up by 16% compared with the previous year. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 83%. Over the period under review, the exports of hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, exports of cycles; parts thereof, wheel rims and spokeses surged to $37M in 2022. In general, exports posted a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 107% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Top Export Markets for Cycles; Parts Thereof, Wheel Rims and Spokes from Singapore in 2022:

1. Australia (97.2 tons)
2. Japan (89.2 tons)
3. Germany (82.0 tons)
4. Philippines (49.3 tons)
5. United Kingdom (43.3 tons)
6. China (35.9 tons)
7. France (30.6 tons)
8. Brazil (30.4 tons)
9. United States (30.2 tons)
10. Switzerland (25.8 tons)
11. Netherlands (22.5 tons)
12. New Zealand (21.3 tons)
13. Italy (20.7 tons)

Source: IndexBox Market Intelligence Platform