Price for Machinery; Parts of the Machinery of Heading No. 8427 in Mexico - 2023
Contents:
- Price for Machinery; Parts of the Machinery of Heading No. 8427 in Mexico (FOB) - 2023
- Price for Machinery; Parts of the Machinery of Heading No. 8427 in Mexico (CIF) - 2023
- Exports of Machinery; Parts of the Machinery of Heading No. 8427 in Mexico
- Imports of Machinery; Parts of the Machinery of Heading No. 8427 in Mexico
Price for Machinery; Parts of the Machinery of Heading No. 8427 in Mexico (FOB) - 2023
The average export price for machinery; parts of the machinery of heading no. 8427 stood at $5,837 per ton in October 2023, flattening at the previous month. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in February 2023 an increase of 29% m-o-m. As a result, the export price reached the peak level of $6,341 per ton. From March 2023 to October 2023, the the average export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for the United States.
From November 2022 to October 2023, the rate of growth in terms of prices for the United States amounted to +0.2% per month.
Price for Machinery; Parts of the Machinery of Heading No. 8427 in Mexico (CIF) - 2023
In October 2023, the average import price for machinery; parts of the machinery of heading no. 8427 amounted to $4,825 per ton, waning by -17.4% against the previous month. Over the period under review, the import price showed a perceptible shrinkage. The growth pace was the most rapid in April 2023 when the average import price increased by 32% m-o-m. As a result, import price attained the peak level of $6,821 per ton. From May 2023 to October 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was the United States ($11,322 per ton), while the price for China ($2,340 per ton) was amongst the lowest.
From November 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Turkey (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Machinery; Parts of the Machinery of Heading No. 8427 in Mexico
After three years of growth, overseas shipments of machinery; parts of the machinery of heading no. 8427 decreased by -8.3% to 48K tons in 2022. Over the period under review, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 104% against the previous year. As a result, the exports attained the peak of 53K tons, and then reduced in the following year.
In value terms, exports of machinery; parts of the machinery of heading no. 8427 fell to $306M in 2022. The total export value increased at an average annual rate of +5.4% 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 2021 with an increase of 31% against the previous year. As a result, the exports attained the peak of $342M, and then declined in the following year.
| Export of Machinery; Parts of the Machinery of Heading No. 8427 in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 262 | 259 | 342 | 306 | 5.3% |
| Others | 0.1 | 1.1 | 0.1 | N/A | 0.0% |
| Total | 262 | 260 | 342 | 306 | 5.3% |
Top Export Markets for Machinery; Parts of the Machinery of Heading No. 8427 from Mexico in 2022:
- United States (48.4K tons)
Imports of Machinery; Parts of the Machinery of Heading No. 8427 in Mexico
Imports of machinery; parts of the machinery of heading no. 8427 into Mexico surged to 27K tons in 2022, picking up by 119% against the previous year. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 139%. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, imports of machinery; parts of the machinery of heading no. 8427 skyrocketed to $160M in 2022. In general, imports saw significant growth. The pace of growth was the most pronounced in 2021 with an increase of 62% against the previous year. Over the period under review, imports of machinery; parts of machinery of heading no. 8427 hit record highs in 2022 and are likely to see steady growth in the near future.
| Import of Machinery; Parts of the Machinery of Heading No. 8427 in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 42.2 | 33.1 | 48.8 | 68.1 | 17.3% |
| China | 12.0 | 16.9 | 34.7 | 45.1 | 55.5% |
| Italy | 1.3 | 1.4 | 2.3 | 18.6 | 142.8% |
| Sri Lanka | 2.5 | 1.5 | 2.3 | 6.1 | 34.6% |
| India | 4.9 | 0.4 | 1.1 | 1.8 | -28.4% |
| Others | 8.8 | 8.2 | 10.8 | 19.9 | 31.3% |
| Total | 71.7 | 61.5 | 99.9 | 160 | 30.7% |
Top Suppliers of Machinery; Parts of the Machinery of Heading No. 8427 to Mexico in 2022:
- China (12.2K tons)
- United States (9.2K tons)
- Italy (2.9K tons)
- Sri Lanka (1.5K tons)
- India (0.2K tons)
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