Price for Machinery; Parts of the Machinery of Heading No. 8427 in the United States - 2023
Contents:
- Price for Machinery; Parts of the Machinery of Heading No. 8427 in the United States (CIF) - 2023
- Price for Machinery; Parts of the Machinery of Heading No. 8427 in the United States (FOB) - 2022
- Imports of Machinery; Parts of the Machinery of Heading No. 8427 in the United States
- Exports of Machinery; Parts of the Machinery of Heading No. 8427 in the United States
Price for Machinery; Parts of the Machinery of Heading No. 8427 in the United States (CIF) - 2023
The average import price for machinery; parts of the machinery of heading no. 8427 stood at $6,914 per ton in November 2023, growing by 21% against the previous month. Over the last eleven months, it increased at an average monthly rate of +3.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was the UK ($33,582 per ton), while the price for India ($2,330 per ton) was amongst the lowest.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the UK (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Machinery; Parts of the Machinery of Heading No. 8427 in the United States (FOB) - 2022
The average export price for machinery; parts of the machinery of heading no. 8427 stood at $21,015 per ton in 2022, surging by 19% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($45,620 per ton), while the average price for exports to China ($12,697 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 Belgium (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Machinery; Parts of the Machinery of Heading No. 8427 in the United States
In 2022, the amount of machinery; parts of the machinery of heading no. 8427 imported into the United States skyrocketed to 313K tons, jumping by 27% against 2021. In general, imports enjoyed significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 115%. Over the period under review, imports of machinery; parts of machinery of heading no. 8427 attained the maximum in 2022 and are likely to continue growth in years to come.
In value terms, imports of machinery; parts of the machinery of heading no. 8427 rose rapidly to $1.6B in 2022. Overall, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +6.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.3% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 47% against the previous year. Imports peaked 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 the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 359 | 255 | 435 | 478 | 10.0% |
| Mexico | 260 | 261 | 354 | 324 | 7.6% |
| Canada | 132 | 119 | 158 | 157 | 6.0% |
| Italy | 147 | 76.6 | 113 | 136 | -2.6% |
| Japan | 128 | 91.6 | 127 | 130 | 0.5% |
| Germany | 111 | 49.3 | 63.2 | 72.6 | -13.2% |
| India | 14.3 | 13.1 | 33.7 | 64.8 | 65.5% |
| South Korea | 30.3 | 15.0 | 25.0 | 35.5 | 5.4% |
| Hungary | 26.2 | 11.8 | 22.2 | 30.2 | 4.9% |
| United Kingdom | 23.3 | 16.3 | 23.1 | 26.0 | 3.7% |
| Taiwan (Chinese) | 15.6 | 13.7 | 18.7 | 25.7 | 18.1% |
| Others | 126 | 91.8 | 119 | 157 | 7.6% |
| Total | 1,373 | 1,015 | 1,491 | 1,637 | 6.0% |
Top Suppliers of Machinery; Parts of the Machinery of Heading No. 8427 to the United States in 2022:
- China (107.8K tons)
- Japan (60.7K tons)
- Mexico (28.9K tons)
- Italy (26.3K tons)
- Canada (20.0K tons)
- Germany (11.8K tons)
- India (11.7K tons)
- Taiwan (Chinese) (8.1K tons)
- South Korea (6.3K tons)
- Hungary (6.1K tons)
- United Kingdom (4.7K tons)
Exports of Machinery; Parts of the Machinery of Heading No. 8427 in the United States
In 2022, exports of machinery; parts of the machinery of heading no. 8427 from the United States shrank to 23K tons, with a decrease of -2.5% compared with 2021. Over the period under review, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 20%.
In value terms, exports of machinery; parts of the machinery of heading no. 8427 skyrocketed to $485M in 2022. In general, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +6.8% 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 +54.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 33%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
| Export of Machinery; Parts of the Machinery of Heading No. 8427 in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 139 | 118 | 147 | 155 | 3.7% |
| Mexico | 57.6 | 50.4 | 102 | 143 | 35.4% |
| Japan | 29.6 | 22.9 | 31.3 | 37.1 | 7.8% |
| Netherlands | 21.9 | 10.0 | 12.5 | 14.2 | -13.4% |
| Australia | 13.6 | 11.5 | 13.0 | 14.1 | 1.2% |
| China | 25.7 | 21.2 | 15.4 | 13.8 | -18.7% |
| Brazil | 12.3 | 9.6 | 11.3 | 11.4 | -2.5% |
| United Kingdom | 17.6 | 10.0 | 8.7 | 11.1 | -14.2% |
| Chile | 7.6 | 7.0 | 8.2 | 9.7 | 8.5% |
| Italy | 6.3 | 3.1 | 5.9 | 4.1 | -13.3% |
| Others | 67.1 | 50.8 | 63.4 | 70.8 | 1.8% |
| Total | 398 | 314 | 419 | 485 | 6.8% |
Top Export Markets for Machinery; Parts of the Machinery of Heading No. 8427 from the United States in 2022:
- Canada (10.7K tons)
- Mexico (5.7K tons)
- China (1.1K tons)
- Japan (1.0K tons)
- United Kingdom (0.7K tons)
- Netherlands (0.6K tons)
- Brazil (0.5K tons)
- Italy (0.3K tons)
- Australia (0.3K tons)
- Chile (0.3K tons)
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