Price for Machinery; Parts of Machinery of Heading No. 8422 in China - 2023
Contents:
- Price for Machinery; Parts of Machinery of Heading No. 8422 in China (FOB) - 2023
- Price for Machinery; Parts of Machinery of Heading No. 8422 in China (CIF) - 2023
- Exports of Machinery; Parts of Machinery of Heading No. 8422 in China
- Imports of Machinery; Parts of Machinery of Heading No. 8422 in China
Price for Machinery; Parts of Machinery of Heading No. 8422 in China (FOB) - 2023
The average export price for machinery; parts of machinery of heading no. 8422 stood at $13,676 per ton in December 2023, surging by 17% against the previous month. Over the period under review, the export price, however, saw a slight reduction. The growth pace was the most rapid in February 2023 when the average export price increased by 32% m-o-m. Over the period under review, the average export prices attained the maximum at $16,123 per ton in March 2023; however, from April 2023 to December 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In December 2023, the country with the highest price was Poland ($28,986 per ton), while the average price for exports to Jordan ($3,419 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Machinery; Parts of Machinery of Heading No. 8422 in China (CIF) - 2023
In December 2023, the average import price for machinery; parts of machinery of heading no. 8422 amounted to $115K per ton, picking up by 28% against the previous month. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2023 an increase of 36% month-to-month. The import price peaked at $145K per ton in June 2023; however, from July 2023 to December 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($337K per ton), while the price for Poland ($12,538 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Japan (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Machinery; Parts of Machinery of Heading No. 8422 in China
Exports of machinery; parts of machinery of heading no. 8422 from China surged to 33K tons in 2022, with an increase of 20% compared with the previous year. The total export volume increased at an average annual rate of +10.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of machinery; parts of machinery of heading no. 8422 surged to $507M in 2022. Over the period under review, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +16.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in years to come.
| Export of Machinery; Parts of Machinery of Heading No. 8422 in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 50.8 | 55.5 | 66.0 | 110 | 29.4% |
| Japan | 33.6 | 33.4 | 43.8 | 50.3 | 14.4% |
| Germany | 17.3 | 15.8 | 21.5 | 29.2 | 19.1% |
| Turkey | 6.8 | 6.7 | 10.7 | 20.0 | 43.3% |
| Hong Kong SAR | 56.2 | 48.1 | 64.9 | 19.4 | -29.9% |
| United Arab Emirates | 2.6 | 1.7 | 8.4 | 16.4 | 84.8% |
| Poland | 4.2 | 3.4 | 5.1 | 14.9 | 52.5% |
| Singapore | 5.7 | 10.9 | 8.2 | 14.1 | 35.2% |
| Thailand | 7.0 | 10.1 | 13.1 | 13.6 | 24.8% |
| South Korea | 8.5 | 9.2 | 12.8 | 13.4 | 16.4% |
| Italy | 8.2 | 6.7 | 11.4 | 10.2 | 7.5% |
| Algeria | 2.7 | 4.9 | 3.3 | 6.8 | 36.1% |
| Jordan | 0.7 | 1.3 | 1.7 | 3.1 | 64.2% |
| Others | 113 | 129 | 155 | 185 | 17.9% |
| Total | 317 | 336 | 426 | 507 | 16.9% |
Top Export Markets for Machinery; Parts of Machinery of Heading No. 8422 from China in 2022:
- United States (10.5K tons)
- United Arab Emirates (2.6K tons)
- Japan (2.0K tons)
- Algeria (1.5K tons)
- Germany (1.5K tons)
- Turkey (1.3K tons)
- South Korea (1.0K tons)
- Italy (0.7K tons)
- Singapore (0.7K tons)
- Jordan (0.7K tons)
- Thailand (0.6K tons)
- Hong Kong SAR (0.6K tons)
- Poland (0.5K tons)
Imports of Machinery; Parts of Machinery of Heading No. 8422 in China
In 2022, after three years of growth, there was significant decline in supplies from abroad of machinery; parts of machinery of heading no. 8422, when their volume decreased by -18.1% to 2.1K tons. The total import volume increased at an average annual rate of +2.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 24%.
In value terms, imports of machinery; parts of machinery of heading no. 8422 dropped to $195M in 2022. The total import value increased at an average annual rate of +2.7% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 9%. As a result, imports reached the peak of $212M, and then dropped in the following year.
| Import of Machinery; Parts of Machinery of Heading No. 8422 in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 53.8 | 53.7 | 66.4 | 64.4 | 6.2% |
| Italy | 47.3 | 52.8 | 43.4 | 39.8 | -5.6% |
| Japan | 19.1 | 26.2 | 31.5 | 22.5 | 5.6% |
| Sweden | 10.1 | 9.6 | 11.1 | 10.3 | 0.7% |
| Taiwan (Chinese) | 6.0 | 6.9 | 10.0 | 9.6 | 17.0% |
| Austria | 4.0 | 3.3 | 3.7 | 4.9 | 7.0% |
| South Korea | 5.2 | 5.6 | 4.6 | 3.5 | -12.4% |
| Poland | 0.8 | 1.7 | 2.5 | 1.5 | 23.3% |
| Spain | 1.8 | 1.4 | 0.7 | 1.1 | -15.1% |
| Slovakia | 0.3 | 0.6 | 1.1 | 0.7 | 32.6% |
| Philippines | N/A | 0.2 | 0.6 | 0.4 | 41.4% |
| Others | 31.8 | 32.7 | 36.6 | 36.6 | 4.8% |
| Total | 180 | 195 | 212 | 195 | 2.7% |
Top Suppliers of Machinery; Parts of Machinery of Heading No. 8422 to China in 2022:
- Germany (829.9 tons)
- Italy (353.5 tons)
- South Korea (151.6 tons)
- Poland (116.2 tons)
- Japan (114.2 tons)
- Taiwan (Chinese) (82.2 tons)
- Sweden (79.5 tons)
- Spain (69.0 tons)
- Slovakia (48.5 tons)
- Philippines (37.1 tons)
- Austria (33.9 tons)
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