Price for Machinery; Parts of Machinery of Heading No. 8422 in India - 2023
Contents:
- Price for Machinery; Parts of Machinery of Heading No. 8422 in India (CIF) - 2023
- Price for Machinery; Parts of Machinery of Heading No. 8422 in India (FOB) - 2022
- Imports of Machinery; Parts of Machinery of Heading No. 8422 in India
- Exports of Machinery; Parts of Machinery of Heading No. 8422 in India
Price for Machinery; Parts of Machinery of Heading No. 8422 in India (CIF) - 2023
The average import price for machinery; parts of machinery of heading no. 8422 stood at $61,459 per ton in November 2023, reducing by -14.8% against the previous month. Overall, the import price recorded a noticeable decrease. The most prominent rate of growth was recorded in August 2023 when the average import price increased by 147% month-to-month. Over the period under review, average import prices hit record highs at $119K per ton in December 2022; however, from January 2023 to November 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($189K per ton), while the price for Turkey ($10,944 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Japan (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Machinery; Parts of Machinery of Heading No. 8422 in India (FOB) - 2022
The average export price for machinery; parts of machinery of heading no. 8422 stood at $30,709 per ton in 2022, declining by -2.6% against the previous year. In general, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for machinery; parts of machinery of heading no. 8422 increased by +36.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 29%. As a result, the export price reached the peak level of $31,542 per ton, and then reduced in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($66,354 per ton), while the average price for exports to Sri Lanka ($9,247 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 Nigeria (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Machinery; Parts of Machinery of Heading No. 8422 in India
In 2022, the amount of machinery; parts of machinery of heading no. 8422 imported into India dropped modestly to 1.2K tons, approximately reflecting 2021. The total import volume increased at an average annual rate of +3.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 45% against the previous year. As a result, imports reached the peak of 1.2K tons, leveling off in the following year.
In value terms, imports of machinery; parts of machinery of heading no. 8422 totaled $91M in 2022. The total import value increased at an average annual rate of +3.6% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 27%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.
| Import of Machinery; Parts of Machinery of Heading No. 8422 in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 20.7 | 20.4 | 23.3 | 19.0 | -2.8% |
| Italy | 20.3 | 14.8 | 19.8 | 18.4 | -3.2% |
| China | 7.6 | 4.8 | 9.6 | 12.3 | 17.4% |
| Sweden | 1.2 | 1.8 | 3.5 | 7.8 | 86.6% |
| United States | 4.5 | 2.9 | 5.2 | 5.0 | 3.6% |
| Switzerland | 2.9 | 2.4 | 3.1 | 4.5 | 15.8% |
| Taiwan (Chinese) | 2.6 | 2.2 | 2.7 | 2.9 | 3.7% |
| Austria | 3.2 | 3.1 | 2.8 | 2.1 | -13.1% |
| Turkey | 0.3 | 0.5 | 0.6 | 0.6 | 26.0% |
| Others | 18.5 | 17.3 | 18.4 | 18.0 | -0.9% |
| Total | 81.7 | 70.2 | 89.0 | 90.7 | 3.5% |
Top Suppliers of Machinery; Parts of Machinery of Heading No. 8422 to India in 2022:
- China (568.6 tons)
- Germany (113.0 tons)
- Italy (95.8 tons)
- Sweden (52.6 tons)
- Taiwan (Chinese) (50.5 tons)
- Turkey (47.7 tons)
- Austria (43.4 tons)
- United States (25.5 tons)
- Switzerland (17.9 tons)
Exports of Machinery; Parts of Machinery of Heading No. 8422 in India
In 2022, after two years of decline, there was growth in shipments abroad of machinery; parts of machinery of heading no. 8422, when their volume increased by 1% to 1.3K tons. Over the period under review, exports, however, saw a deep slump.
In value terms, exports of machinery; parts of machinery of heading no. 8422 shrank modestly to $41M in 2022. The total export value increased at an average annual rate of +1.4% over the period from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 21% against the previous year. As a result, the exports reached the peak of $41M, and then fell in the following year.
| Export of Machinery; Parts of Machinery of Heading No. 8422 in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Nigeria | 2.6 | 2.9 | 5.0 | 4.9 | 23.5% |
| United Kingdom | 2.4 | 3.1 | 3.4 | 3.3 | 11.2% |
| United States | 3.2 | 2.0 | 3.5 | 2.9 | -3.2% |
| Nepal | 1.9 | 2.2 | 2.2 | 2.6 | 11.0% |
| Bangladesh | 1.8 | 2.3 | 2.0 | 2.1 | 5.3% |
| United Arab Emirates | 1.1 | 1.4 | 1.4 | 2.1 | 24.1% |
| Sri Lanka | 3.1 | 2.1 | 2.8 | 1.8 | -16.6% |
| Ghana | 0.9 | 0.6 | 1.4 | 1.2 | 10.1% |
| South Africa | 0.8 | 0.3 | 0.7 | 0.8 | 0.0% |
| Philippines | 0.9 | 0.4 | 1.0 | 0.8 | -3.9% |
| Austria | 0.8 | 0.8 | 0.7 | 0.8 | 0.0% |
| Tanzania | 0.6 | 0.8 | 0.9 | 0.7 | 5.3% |
| Canada | 0.5 | 0.3 | 0.3 | 0.5 | 0.0% |
| Others | 18.5 | 15.0 | 16.3 | 16.3 | -4.1% |
| Total | 39.1 | 34.2 | 41.4 | 40.7 | 1.3% |
Top Export Markets for Machinery; Parts of Machinery of Heading No. 8422 from India in 2022:
- Sri Lanka (196.6 tons)
- Nepal (190.0 tons)
- United Kingdom (142.2 tons)
- Nigeria (105.8 tons)
- United States (71.3 tons)
- United Arab Emirates (59.4 tons)
- Philippines (44.8 tons)
- Canada (41.6 tons)
- Austria (32.7 tons)
- Bangladesh (31.8 tons)
- Ghana (30.5 tons)
- South Africa (23.6 tons)
- Tanzania (20.4 tons)
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