Price for Hand-Operated Spanners and Wrenches in the UK - 2023
Contents:
- Price for Hand-Operated Spanners and Wrenches in the UK (CIF) - 2022
- Price for Hand-Operated Spanners and Wrenches in the UK (FOB) - 2022
- Imports of Hand-Operated Spanners and Wrenches in the UK
- Exports of Hand-Operated Spanners and Wrenches in the UK
Price for Hand-Operated Spanners and Wrenches in the UK (CIF) - 2022
In 2022, the average hand-operated spanners and wrenches import price amounted to $11,763 per ton, with an increase of 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 15%. The import price peaked in 2022 and is expected to retain growth in the near future.
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 the United States ($46,769 per ton), while the price for India ($4,767 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 (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Hand-Operated Spanners and Wrenches in the UK (FOB) - 2022
In 2022, the average hand-operated spanners and wrenches export price amounted to $34,618 per ton, picking up by 17% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hand-operated spanners and wrenches export price increased by +85.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 58%. Over the period under review, the average export prices attained the maximum 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 United States ($108,629 per ton), while the average price for exports to Indonesia ($8,945 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 South Africa (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Hand-Operated Spanners and Wrenches in the UK
Hand-operated spanners and wrenches imports into the UK declined to 12K tons in 2022, dropping by -14.9% on the year before. Over the period under review, imports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of 26%. As a result, imports attained the peak of 14K tons, and then shrank in the following year.
In value terms, hand-operated spanners and wrenches imports declined to $139M in 2022. The total import value increased at an average annual rate of +3.2% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 27% against the previous year. As a result, imports attained the peak of $145M, and then contracted modestly in the following year.
| Import of Hand-Operated Spanners and Wrenches in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 33.5 | 30.7 | 47.6 | 45.1 | 10.4% |
| Taiwan (Chinese) | 26.6 | 20.9 | 28.3 | 26.8 | 0.3% |
| Germany | 20.0 | 20.3 | 21.8 | 20.7 | 1.2% |
| United States | 14.4 | 12.8 | 14.6 | 13.8 | -1.4% |
| Netherlands | 8.1 | 7.0 | 9.4 | 8.9 | 3.2% |
| France | 6.4 | 5.4 | 6.4 | 6.0 | -2.1% |
| India | 5.1 | 4.0 | 5.8 | 5.5 | 2.5% |
| Others | 12.5 | 12.9 | 11.5 | 12.3 | -0.5% |
| Total | 127 | 114 | 145 | 139 | 3.1% |
Top Suppliers of Hand-Operated Spanners and Wrenches to the UK in 2022:
- China (6.4K tons)
- Taiwan (Chinese) (1.8K tons)
- India (1.2K tons)
- Germany (0.9K tons)
- Netherlands (0.6K tons)
- United States (0.3K tons)
- France (0.2K tons)
Exports of Hand-Operated Spanners and Wrenches in the UK
In 2022, shipments abroad of hand-operated spanners and wrencheses decreased by -15.3% to 1.8K tons, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 10% against the previous year. As a result, the exports reached the peak of 3K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, hand-operated spanners and wrenches exports fell slightly to $63M in 2022. The total export value increased at an average annual rate of +4.2% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 12% against the previous year. As a result, the exports attained the peak of $63M, leveling off in the following year.
| Export of Hand-Operated Spanners and Wrenches in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 6.8 | 7.2 | 8.0 | 7.5 | 3.3% |
| Netherlands | 1.8 | 2.2 | 6.9 | 6.4 | 52.6% |
| United States | 4.3 | 4.9 | 5.3 | 5.0 | 5.2% |
| Ireland | 5.2 | 5.8 | 5.2 | 5.0 | -1.3% |
| France | 5.6 | 5.2 | 5.0 | 4.8 | -5.0% |
| Italy | 3.4 | 5.1 | 3.2 | 3.6 | 1.9% |
| Switzerland | 2.3 | 1.8 | 3.2 | 3.0 | 9.3% |
| South Africa | 2.0 | 1.2 | 2.6 | 2.4 | 6.3% |
| Spain | 2.0 | 2.5 | 1.3 | 1.8 | -3.5% |
| Poland | 1.6 | 1.3 | 0.7 | 1.1 | -11.7% |
| Sweden | 0.6 | 0.7 | 1.2 | 1.1 | 22.4% |
| Indonesia | 0.1 | 0.1 | 1.0 | 0.9 | 108.0% |
| Czech Republic | 0.7 | 0.6 | 0.4 | 0.5 | -10.6% |
| Others | 19.1 | 18.0 | 19.3 | 19.6 | 0.9% |
| Total | 55.5 | 56.6 | 63.4 | 62.8 | 4.2% |
Top Export Markets for Hand-Operated Spanners and Wrenches from the UK in 2022:
- Ireland (257.9 tons)
- Netherlands (214.5 tons)
- Germany (176.5 tons)
- France (136.7 tons)
- Indonesia (102.1 tons)
- Italy (59.5 tons)
- Spain (58.0 tons)
- Poland (57.4 tons)
- Czech Republic (52.9 tons)
- Switzerland (48.2 tons)
- United States (45.7 tons)
- South Africa (44.1 tons)
- Sweden (41.9 tons)
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