Price for Non-Furniture Refrigerating or Freezing Equipment in Saudi Arabia - 2021

Contents:

1. Price for Non-Furniture Refrigerating or Freezing Equipment in Saudi Arabia (CIF) - 2022
2. Price for Non-Furniture Refrigerating or Freezing Equipment in Saudi Arabia (FOB) - 2022
3. Imports of Non-Furniture Refrigerating or Freezing Equipment in Saudi Arabia
4. Exports of Non-Furniture Refrigerating or Freezing Equipment in Saudi Arabia

Price for Non-Furniture Refrigerating or Freezing Equipment in Saudi Arabia (CIF) - 2022

In 2022, the average import price for non-furniture refrigerating or freezing equipment amounted to $175 per unit, surging by 11% against the previous year. Overall, the import price, however, showed a abrupt slump. The growth pace was the most rapid in 2017 an increase of 58% against the previous year. Over the period under review, average import prices hit record highs at $330 per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Italy ($922 per unit), while the price for China ($83 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Non-Furniture Refrigerating or Freezing Equipment in Saudi Arabia (FOB) - 2022

The average export price for non-furniture refrigerating or freezing equipment stood at $58 per unit in 2022, rising by 1.8% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 18%. Over the period under review, the average export prices hit record highs at $78 per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Oman ($77 per unit), while the average price for exports to Sudan ($50 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 Qatar (+17.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Furniture Refrigerating or Freezing Equipment in Saudi Arabia

In 2022, after three years of growth, there was significant decline in overseas purchases of non-furniture refrigerating or freezing equipment, when their volume decreased by -14.1% to 640K units. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +10.0% 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 +33.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 39%. As a result, imports reached the peak of 745K units, and then declined in the following year.

In value terms, non-furniture refrigerating or freezing equipment imports contracted slightly to $112M in 2022. In general, imports recorded a pronounced contraction. The pace of growth was the most pronounced in 2021 when imports increased by 11% against the previous year. Over the period under review, imports reached the maximum at $130M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Top Suppliers of Non-Furniture Refrigerating or Freezing Equipment to Saudi Arabia in 2022:

1. China (485.9K units)
2. United Arab Emirates (27.2K units)
3. South Korea (26.8K units)
4. Italy (24.5K units)
5. India (5.9K units)

Exports of Non-Furniture Refrigerating or Freezing Equipment in Saudi Arabia

In 2022, the amount of non-furniture refrigerating or freezing equipment exported from Saudi Arabia reduced markedly to 17K units, dropping by -25.8% on the year before. Over the period under review, exports, however, showed resilient growth. The pace of growth was the most pronounced in 2021 when exports increased by 107%. As a result, the exports reached the peak of 23K units, and then contracted sharply in the following year.

In value terms, non-furniture refrigerating or freezing equipment exports shrank sharply to $989K in 2022. Overall, total exports indicated pronounced growth from 2019 to 2022: its value increased at an average annual rate of +4.6% 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 +47.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 96% against the previous year. As a result, the exports attained the peak of $1.3M, and then shrank sharply in the following year.

Top Export Markets for Non-Furniture Refrigerating or Freezing Equipment from Saudi Arabia in 2022:

1. Bahrain (10.2K units)
2. Kuwait (6.1K units)
3. Sudan (2.9K units)
4. United Arab Emirates (1.0K units)
5. Oman (0.5K units)

Source: IndexBox Market Intelligence Platform