Price for Machinery; Parts of the Machinery of Heading No. 8427 in China - 2023
Contents:
- Price for Machinery; Parts of the Machinery of Heading No. 8427 in China (FOB) - 2023
- Price for Machinery; Parts of the Machinery of Heading No. 8427 in China (CIF) - 2023
- Exports of Machinery; Parts of the Machinery of Heading No. 8427 in China
- Imports of Machinery; Parts of the Machinery of Heading No. 8427 in China
Price for Machinery; Parts of the Machinery of Heading No. 8427 in China (FOB) - 2023
In December 2023, the average export price for machinery; parts of the machinery of heading no. 8427 amounted to $1,739 per ton, flattening at the previous month. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in September 2023 an increase of 2% month-to-month. As a result, the export price attained the peak level of $1,763 per ton. From October 2023 to December 2023, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was Mexico ($2,039 per ton), while the average price for exports to South Korea ($1,089 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 France (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Machinery; Parts of the Machinery of Heading No. 8427 in China (CIF) - 2023
The average import price for machinery; parts of the machinery of heading no. 8427 stood at $9,557 per ton in December 2023, picking up by 3.2% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2023 an increase of 17% m-o-m. As a result, import price attained the peak level of $10,230 per ton. From September 2023 to December 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was the United States ($22,818 per ton), while the price for Sri Lanka ($2,047 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 Sweden (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Machinery; Parts of the Machinery of Heading No. 8427 in China
Exports of machinery; parts of the machinery of heading no. 8427 from China reached 760K tons in 2022, surging by 10% on 2021 figures. In general, total exports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +9.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.3% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 50% against the previous year. Over the period under review, the exports of machinery; parts of machinery of heading no. 8427 hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of machinery; parts of the machinery of heading no. 8427 soared to $1.4B in 2022. Over the period under review, exports saw resilient growth. The growth pace was the most rapid in 2021 when exports increased by 67%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Export of Machinery; Parts of the Machinery of Heading No. 8427 in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 272 | 216 | 375 | 428 | 16.3% |
| South Korea | 69.5 | 56.2 | 111 | 130 | 23.2% |
| Japan | 82.6 | 67.9 | 90.5 | 90.0 | 2.9% |
| Germany | 50.1 | 48.4 | 81.2 | 83.8 | 18.7% |
| Italy | 37.7 | 21.6 | 43.9 | 56.7 | 14.6% |
| United Kingdom | 31.4 | 24.1 | 46.1 | 55.3 | 20.8% |
| Sweden | 36.5 | 32.3 | 51.0 | 54.6 | 14.4% |
| Australia | 22.1 | 23.2 | 33.5 | 42.5 | 24.4% |
| Canada | 14.7 | 16.5 | 37.3 | 40.5 | 40.2% |
| Ireland | 27.0 | 17.6 | 36.4 | 36.5 | 10.6% |
| France | 21.5 | 16.5 | 27.6 | 32.5 | 14.8% |
| Vietnam | 9.3 | 14.8 | 22.6 | 32.1 | 51.1% |
| Poland | 10.8 | 11.2 | 18.3 | 23.1 | 28.8% |
| Others | 161 | 144 | 214 | 296 | 22.5% |
| Total | 846 | 710 | 1,188 | 1,402 | 18.3% |
Top Export Markets for Machinery; Parts of the Machinery of Heading No. 8427 from China in 2022:
- United States (237.1K tons)
- South Korea (109.0K tons)
- Japan (60.9K tons)
- Germany (45.4K tons)
- United Kingdom (38.7K tons)
- Italy (35.8K tons)
- France (25.0K tons)
- Sweden (23.1K tons)
- Ireland (23.0K tons)
- Canada (17.5K tons)
- Poland (16.4K tons)
- Vietnam (15.7K tons)
- Australia (12.0K tons)
Imports of Machinery; Parts of the Machinery of Heading No. 8427 in China
In 2022, approx. 17K tons of machinery; parts of the machinery of heading no. 8427 were imported into China; which is down by -3.3% compared with the previous year's figure. Over the period under review, imports continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 13% against the previous year.
In value terms, imports of machinery; parts of the machinery of heading no. 8427 contracted to $154M in 2022. In general, imports saw a mild curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 22%. As a result, imports attained the peak of $170M, and then fell in the following year.
| Import of Machinery; Parts of the Machinery of Heading No. 8427 in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 28.9 | 23.7 | 31.3 | 31.8 | 3.2% |
| Japan | 34.3 | 22.3 | 32.8 | 26.0 | -8.8% |
| Italy | 21.2 | 18.6 | 36.1 | 22.1 | 1.4% |
| South Korea | 27.6 | 23.6 | 23.5 | 20.3 | -9.7% |
| United States | 20.9 | 22.1 | 9.2 | 15.4 | -9.7% |
| Malaysia | 3.3 | 6.1 | 6.7 | 6.4 | 24.7% |
| Sweden | 5.0 | 4.7 | 5.7 | 5.4 | 2.6% |
| Czech Republic | 2.1 | 2.5 | 4.0 | 4.7 | 30.8% |
| Vietnam | 3.4 | 2.3 | 3.6 | 4.2 | 7.3% |
| Sri Lanka | 0.5 | 0.4 | 0.8 | 2.1 | 61.3% |
| Others | 15.0 | 13.0 | 16.6 | 16.1 | 2.4% |
| Total | 162 | 139 | 170 | 154 | -1.7% |
Top Suppliers of Machinery; Parts of the Machinery of Heading No. 8427 to China in 2022:
- Japan (4.1K tons)
- Germany (2.9K tons)
- South Korea (2.5K tons)
- Italy (1.9K tons)
- Sri Lanka (1.2K tons)
- Malaysia (1.1K tons)
- United States (0.7K tons)
- Czech Republic (0.6K tons)
- Sweden (0.6K tons)
- Vietnam (0.5K tons)
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