Price for Non-Furniture Refrigerating or Freezing Equipment in Turkey - 2023
Contents:
- Price for Non-Furniture Refrigerating or Freezing Equipment in Turkey (CIF) - 2022
- Price for Non-Furniture Refrigerating or Freezing Equipment in Turkey (FOB) - 2023
- Imports of Non-Furniture Refrigerating or Freezing Equipment in Turkey
- Exports of Non-Furniture Refrigerating or Freezing Equipment in Turkey
Price for Non-Furniture Refrigerating or Freezing Equipment in Turkey (CIF) - 2022
In 2022, the average import price for non-furniture refrigerating or freezing equipment amounted to $161 per unit, stabilizing at the previous year. Over the last decade, it increased at an average annual rate of +3.5%. The pace of growth appeared the most rapid in 2018 an increase of 18% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.
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 Germany ($337 per unit), while the price for China ($117 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 States (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Non-Furniture Refrigerating or Freezing Equipment in Turkey (FOB) - 2023
In July 2023, the average export price for non-furniture refrigerating or freezing equipment amounted to $158 per unit, rising by 2.6% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.7%. The pace of growth was the most pronounced in May 2023 when the average export price increased by 14% month-to-month. Over the period under review, the average export prices attained the maximum at $178 per unit in February 2023; however, from March 2023 to July 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In July 2023, the country with the highest price was Morocco ($252 per unit), while the average price for exports to Cameroon ($41.9 per unit) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Non-Furniture Refrigerating or Freezing Equipment in Turkey
In 2022, approx. 1M units of non-furniture refrigerating or freezing equipment were imported into Turkey; surging by 8.3% on the year before. The total import volume increased at an average annual rate of +7.6% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 15%. Imports peaked in 2022 and are expected to retain growth in the near future.
In value terms, non-furniture refrigerating or freezing equipment imports amounted to $168M in 2022. In general, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +13.0% 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 +44.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 30%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.
| Import of Non-Furniture Refrigerating or Freezing Equipment in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 25.8 | 23.5 | 42.2 | 36.7 | 12.5% |
| China | 19.6 | 18.3 | 27.1 | 35.5 | 21.9% |
| France | 14.2 | 17.4 | 26.2 | 25.7 | 21.9% |
| Ireland | 3.4 | 7.4 | 7.1 | 12.4 | 53.9% |
| Germany | 11.0 | 10.7 | 10.9 | 10.3 | -2.2% |
| Mexico | 6.7 | 3.6 | 4.0 | 9.0 | 10.3% |
| United States | 11.1 | 5.6 | 5.9 | 8.1 | -10.0% |
| Others | 24.8 | 30.6 | 29.4 | 30.3 | 6.9% |
| Total | 117 | 117 | 153 | 168 | 12.8% |
Top Suppliers of Non-Furniture Refrigerating or Freezing Equipment to Turkey in 2022:
- China (302.9K units)
- Italy (223.0K units)
- France (208.7K units)
- Ireland (90.4K units)
- Mexico (65.4K units)
- Germany (30.6K units)
- United States (29.4K units)
Exports of Non-Furniture Refrigerating or Freezing Equipment in Turkey
In 2022, overseas shipments of non-furniture refrigerating or freezing equipment were finally on the rise to reach 1.1M units for the first time since 2019, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +1.3% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, non-furniture refrigerating or freezing equipment exports skyrocketed to $148M in 2022. The total export value increased at an average annual rate of +7.2% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Non-Furniture Refrigerating or Freezing Equipment in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 2.4 | 3.0 | 3.6 | 10.3 | 62.5% |
| Turkmenistan | 4.2 | 3.5 | 9.1 | 10.2 | 34.4% |
| Israel | 5.6 | 5.6 | 7.3 | 9.5 | 19.3% |
| Uzbekistan | 11.6 | 3.6 | 4.3 | 8.8 | -8.8% |
| Azerbaijan | 6.6 | 9.0 | 7.7 | 8.5 | 8.8% |
| Germany | 6.8 | 8.7 | 4.6 | 7.3 | 2.4% |
| Iraq | 8.6 | 5.7 | 9.2 | 7.1 | -6.2% |
| Egypt | 1.3 | 1.6 | 0.6 | 5.3 | 59.8% |
| United States | 0.5 | 1.0 | 2.7 | 4.1 | 101.7% |
| Belgium | 4.1 | 4.2 | 4.1 | 3.8 | -2.5% |
| Bulgaria | 1.4 | 1.6 | 2.2 | 3.4 | 34.4% |
| France | 3.7 | 2.9 | 2.5 | 3.3 | -3.7% |
| United Kingdom | 1.7 | 2.8 | 3.8 | 3.3 | 24.7% |
| Others | 61.7 | 58.2 | 52.5 | 63.4 | 0.9% |
| Total | 120 | 111 | 114 | 148 | 7.2% |
Top Export Markets for Non-Furniture Refrigerating or Freezing Equipment from Turkey in 2022:
- Israel (79.5K units)
- Turkmenistan (74.2K units)
- Egypt (69.5K units)
- Azerbaijan (68.7K units)
- Germany (68.4K units)
- Uzbekistan (65.5K units)
- Iraq (65.0K units)
- Russia (62.5K units)
- United States (38.4K units)
- United Kingdom (33.5K units)
- Belgium (30.2K units)
- Bulgaria (25.8K units)
- France (24.1K units)
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