Price for Machines; Parts and Accessories, of Heading No. 8472 in Pakistan - 2023

Contents:

1. Price for Machines; Parts and Accessories, of Heading No. 8472 in Pakistan (CIF) - 2023
2. Price for Machines; Parts and Accessories, of Heading No. 8472 in Pakistan (FOB) - 2022
3. Imports of Machines; Parts and Accessories, of Heading No. 8472 in Pakistan
4. Exports of Machines; Parts and Accessories, of Heading No. 8472 in Pakistan

Price for Machines; Parts and Accessories, of Heading No. 8472 in Pakistan (CIF) - 2023

The average import price for machines; parts and accessories, of heading no. 8472 stood at $18,658 per ton in July 2023, picking up by 7% against the previous month. Over the last eleven-month period, it increased at an average monthly rate of +1.3%. The growth pace was the most rapid in May 2023 when the average import price increased by 29% month-to-month. The import price peaked at $19,868 per ton in October 2022; however, from November 2022 to July 2023, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was Germany ($19,172 per ton), while the price for China ($18,473 per ton) was amongst the lowest.

From August 2022 to July 2023, the most notable rate of growth in terms of prices was attained by China (+1.6%), while the prices for the other major suppliers experienced a decline.

Price for Machines; Parts and Accessories, of Heading No. 8472 in Pakistan (FOB) - 2022

In 2022, the average export price for machines; parts and accessories, of heading no. 8472 amounted to $30,617 per ton, dropping by -74.8% against the previous year. In general, the export price saw a abrupt contraction. The pace of growth was the most pronounced in 2014 when the average export price increased by 375%. As a result, the export price attained the peak level of $216,403 per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($62,250 per ton), while the average price for exports to Germany ($26,730 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 Bangladesh (+191.5%), while the prices for the other major destinations experienced a decline.

Imports of Machines; Parts and Accessories, of Heading No. 8472 in Pakistan

Imports of machines; parts and accessories, of heading no. 8472 into Pakistan soared to 213 tons in 2022, picking up by 29% on the previous year. Over the period under review, imports saw a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 59%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, imports of machines; parts and accessories, of heading no. 8472 shrank significantly to $4.7M in 2022. Overall, imports posted a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 58% against the previous year.

Top Suppliers of Machines; Parts and Accessories, of Heading No. 8472 to Pakistan in 2022:

1. China (88.0 tons)
2. Hungary (55.7 tons)
3. Germany (37.6 tons)
4. Netherlands (16.8 tons)
5. Japan (5.4 tons)
6. United States (3.5 tons)
7. Turkey (0.9 tons)
8. United Kingdom (0.1 tons)

Exports of Machines; Parts and Accessories, of Heading No. 8472 in Pakistan

In 2022, shipments abroad of machines; parts and accessories, of heading no. 8472 increased by 73% to 133 kg for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, showed a dramatic downturn.

In value terms, exports of machines; parts and accessories, of heading no. 8472 shrank remarkably to $4.1K in 2022. Overall, exports, however, recorded a sharp slump. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year.

Top Export Markets for Machines; Parts and Accessories, of Heading No. 8472 from Pakistan in 2022:

1. Germany (111.0 kg)
2. United Arab Emirates (12.0 kg)
3. Denmark (10.0 kg)

Source: IndexBox Market Intelligence Platform