Price for Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Singapore - 2022

Contents:

1. Price for Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Singapore (CIF) - 2022
2. Price for Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Singapore (FOB) - 2022
3. Imports of Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Singapore
4. Exports of Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Singapore

Price for Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Singapore (CIF) - 2022

In 2022, the average import price for millstones, grindstones, grinding wheels and the like; of natural stones amounted to $0.5 per unit, declining by -10.6% against the previous year. Overall, the import price, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2018 an increase of 82%. The import price peaked at $0.6 per unit in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($3.2 per unit), while the price for India ($0.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+26.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Singapore (FOB) - 2022

The average export price for millstones, grindstones, grinding wheels and the like; of natural stones stood at $0.5 per unit in 2022, surging by 3.5% against the previous year. Over the period under review, the export price continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017 an increase of 55%. The export price peaked at $0.5 per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($0.7 per unit), while the average price for exports to Malaysia ($0.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Singapore

In 2022, approx. 11M units of millstones, grindstones, grinding wheels and the like; of natural stones were imported into Singapore; rising by 20% on the year before. Over the period under review, total imports indicated a moderate increase from 2019 to 2022: its volume increased at an average annual rate of +2.4% 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 +87.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 57% against the previous year. Over the period under review, imports of millstones, grindstones, grinding wheels and like; of natural stones attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, imports of millstones, grindstones, grinding wheels and the like; of natural stones rose markedly to $5.5M in 2022. In general, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +8.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 59% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone to Singapore in 2022:

1. China (3.7M units)
2. Japan (3.2M units)
3. Thailand (2.8M units)
4. India (0.6M units)
5. Malaysia (0.3M units)
6. Taiwan (Chinese) (0.2M units)
7. Germany (0.1M units)

Exports of Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone in Singapore

In 2022, the amount of millstones, grindstones, grinding wheels and the like; of natural stones exported from Singapore fell remarkably to 11M units, shrinking by -20.2% on 2021. In general, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 99% against the previous year. As a result, the exports reached the peak of 14M units, and then contracted dramatically in the following year.

In value terms, exports of millstones, grindstones, grinding wheels and the like; of natural stones dropped rapidly to $5.4M in 2022. Overall, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 81% against the previous year. As a result, the exports reached the peak of $6.5M, and then contracted notably in the following year.

Top Export Markets for Millstones, Grindstones, Grinding Wheels and the Like; of Natural Stone from Singapore in 2022:

1. Philippines (6.4M units)
2. Malaysia (2.4M units)
3. Indonesia (0.8M units)
4. Thailand (0.6M units)

Source: IndexBox Market Intelligence Platform