Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Portugal - 2023

Contents:

1. Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Portugal (CIF) - 2022
2. Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Portugal (FOB) - 2023
3. Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Portugal
4. Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Portugal

Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Portugal (CIF) - 2022

The average import price for refrigerating or freezing equipment; parts thereof, other than furniture stood at $47 per unit in 2022, reducing by -1.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2018 when the average import price increased by 30% against the previous year. Over the period under review, average import prices reached the maximum at $48 per unit in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($94 per unit), while the price for Romania ($15 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Portugal (FOB) - 2023

In November 2023, the average export price for refrigerating or freezing equipment; parts thereof, other than furniture amounted to $52.2 per unit, stabilizing at the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in May 2023 an increase of 16% m-o-m. Over the period under review, the average export prices reached the peak figure at $57.6 per unit in September 2023; however, from October 2023 to November 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In November 2023, the country with the highest price was the Netherlands ($99.2 per unit), while the average price for exports to Belgium ($23.3 per unit) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Portugal

In 2022, imports of refrigerating or freezing equipment; parts thereof, other than furniture into Portugal rose notably to 1.4M units, increasing by 12% compared with 2021. The total import volume increased at an average annual rate of +7.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 29% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of refrigerating or freezing equipment; parts thereof, other than furniture expanded sharply to $67M in 2022. The total import value increased at an average annual rate of +7.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 34% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Top Suppliers of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture to Portugal in 2022:

1. Spain (485.7K units)
2. Italy (305.6K units)
3. China (156.2K units)
4. Germany (112.3K units)
5. Romania (96.5K units)
6. Turkey (63.6K units)
7. Netherlands (41.9K units)
8. France (37.5K units)
9. Poland (26.6K units)
10. Belgium (3.7K units)

Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Portugal

For the fourth year in a row, Portugal recorded growth in shipments abroad of refrigerating or freezing equipment; parts thereof, other than furniture, which increased by 3.5% to 784K units in 2022. Overall, total exports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +14.9% 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 +51.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 36%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, exports of refrigerating or freezing equipment; parts thereof, other than furniture rose notably to $28M in 2022. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 62% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Top Export Markets for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture from Portugal in 2022:

1. Germany (187.4K units)
2. France (92.3K units)
3. Angola (80.4K units)
4. Italy (60.3K units)
5. Hungary (50.1K units)
6. Spain (47.3K units)
7. Belgium (42.6K units)
8. Algeria (39.1K units)
9. Netherlands (36.1K units)
10. United Kingdom (31.8K units)
11. Brazil (13.9K units)
12. Colombia (6.8K units)
13. Morocco (1.2K units)

Source: IndexBox Market Intelligence Platform