Price for Hand-Operated Spanners and Wrenches in Saudi Arabia - 2021
Contents:
- Price for Hand-Operated Spanners and Wrenches in Saudi Arabia (CIF) - 2022
- Price for Hand-Operated Spanners and Wrenches in Saudi Arabia (FOB) - 2022
- Imports of Hand-Operated Spanners and Wrenches in Saudi Arabia
- Exports of Hand-Operated Spanners and Wrenches in Saudi Arabia
Price for Hand-Operated Spanners and Wrenches in Saudi Arabia (CIF) - 2022
The average hand-operated spanners and wrenches import price stood at $5,990 per ton in 2022, with a decrease of -6% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 47% against the previous year. As a result, import price reached the peak level of $8,543 per ton. From 2019 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($26,479 per ton), while the price for India ($2,738 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 Arab Emirates (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Hand-Operated Spanners and Wrenches in Saudi Arabia (FOB) - 2022
The average hand-operated spanners and wrenches export price stood at $12,402 per ton in 2022, waning by -27.6% against the previous year. In general, the export price, however, showed measured growth. The growth pace was the most rapid in 2015 an increase of 67% against the previous year. The export price peaked at $33,954 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($70,963 per ton), while the average price for exports to Ghana ($2,694 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 Norway (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Hand-Operated Spanners and Wrenches in Saudi Arabia
In 2022, the amount of hand-operated spanners and wrencheses imported into Saudi Arabia rose notably to 2.9K tons, picking up by 13% compared with 2021. The total import volume increased at an average annual rate of +8.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 35% against the previous year. As a result, imports reached the peak of 3.1K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, hand-operated spanners and wrenches imports expanded sharply to $17M in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 6%. As a result, imports reached the peak of $18M. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Hand-Operated Spanners and Wrenches in Saudi Arabia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.9 | 5.1 | 5.2 | 4.1 | 1.7% |
| United States | 5.6 | 5.2 | 3.6 | 3.8 | -12.1% |
| United Arab Emirates | N/A | N/A | N/A | 1.4 | 0% |
| Taiwan (Chinese) | 1.2 | 1.8 | 1.2 | 1.1 | -2.9% |
| Germany | 1.1 | 1.3 | 1.1 | 0.9 | -6.5% |
| India | 0.4 | 0.7 | 0.9 | 0.7 | 20.5% |
| Japan | 1.3 | 0.6 | 0.6 | 0.5 | -27.3% |
| Others | 3.7 | 3.5 | 3.7 | 4.9 | 9.8% |
| Total | 17.2 | 18.2 | 16.3 | 17.3 | 0.2% |
Top Suppliers of Hand-Operated Spanners and Wrenches to Saudi Arabia in 2022:
- China (1400.3 tons)
- India (254.2 tons)
- United Arab Emirates (224.0 tons)
- Taiwan (Chinese) (170.9 tons)
- United States (142.4 tons)
- Germany (127.1 tons)
- Japan (101.0 tons)
Exports of Hand-Operated Spanners and Wrenches in Saudi Arabia
In 2022, exports of hand-operated spanners and wrencheses from Saudi Arabia skyrocketed to 23 tons, rising by 47% against the year before. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 383%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.
In value terms, hand-operated spanners and wrenches exports totaled $285K in 2022. In general, exports saw a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 521% against the previous year. As a result, the exports attained the peak of $306K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Hand-Operated Spanners and Wrenches in Saudi Arabia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bahrain | 20.7 | 32.9 | 51.1 | 72.6 | 51.9% |
| Norway | 2.4 | 87.0 | 51.1 | 72.6 | 211.6% |
| United Arab Emirates | 0.1 | 89.0 | 14.1 | 31.2 | 578.2% |
| United States | 2.7 | 13.0 | 21.7 | 30.8 | 125.1% |
| Italy | 5.5 | 10.0 | 2.4 | 24.7 | 65.0% |
| Germany | 4.1 | 13.8 | 1.8 | 7.9 | 24.4% |
| Oman | 1.2 | 12.4 | 5.2 | 4.5 | 55.4% |
| Pakistan | 0.5 | 4.3 | 0.4 | 4.5 | 108.0% |
| Ghana | 1.3 | 3.3 | 1.7 | 2.2 | 19.2% |
| Sudan | 1.0 | 2.3 | 1.1 | 1.2 | 6.3% |
| France | N/A | N/A | 39.9 | N/A | 0% |
| Others | 9.8 | 38.3 | 76.2 | 32.4 | 49.0% |
| Total | 49.3 | 306 | 267 | 285 | 79.5% |
Top Export Markets for Hand-Operated Spanners and Wrenches from Saudi Arabia in 2022:
- United Arab Emirates (8.8 tons)
- Bahrain (5.4 tons)
- Norway (1.7 tons)
- Italy (1.0 tons)
- Germany (0.9 tons)
- Ghana (0.8 tons)
- Pakistan (0.7 tons)
- Oman (0.4 tons)
- Sudan (0.4 tons)
- United States (0.4 tons)
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